Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
I was under the impression (may be wrong) that in C11 protection the debt holder does not have a choice about whether he wants to make the debt/equity swap.
I also doubt that it will be a straight 1:1 swap - also in many C11 the restructuring cancels the company's existing equity shares. It then reissues new shares to the debt holders, and the bondholders and creditors become the new shareholders in the company.
Unfortunately the small RI always gets s#@#££
I apologise a little mis-leading forbidden is the wrong word.
I have a number of investment trusts and the trustees are not able to invest in companies with negative earnings.
I have some that can only invest in companies above a certain market cap.
An American one I have can only buy shares above $25 and have a certain debt to earnings ratio.
. They pay a high dividend but are unprofitable and many funds are forbidden from adding this class of share.
I’m one of the people you seem to be moaning at. All I did was go to work , take an occupational final salary pension and bought a house in London when they were affordable.
I do not consider myself a drain.
I’ve paid over £1M in taxes over my working life.
Have sent my children to private school. Have private health insurance and use a private dentist.
I am very fit , play squash and run 10K 3 times a week.
One of my neighbours is in his 30’s he has diabetes, obese and borderline alcoholic
He is a massive drain on the system. Should we tax him more or refuse him treatment - at least he does not smoke.
I tend to agree - there may be a little upside short term but until profits start showing up ( last small profit due to tax credit) it will be stuck in 130 - 155 range.
When things improve and they start paying a dividend and more importantly start buying back to counter the RI then I can see 2.50 + but that could be 2 years off.
But remember this was trading at sub 90p not too long ago so 50% return for some already
Metom - possibly the governments announcement that they are monitoring a new variant. Hopefully it turns out to be dominant but weaker.
3.53 Smiffy
£3.58 Emerald
£3.6625 Annalisa
£3.70 Grezzz
£3.73 JP. WIliams
£3.74 Henrythecat
£3.76 Share-Ninja
£3.80 licker
£3.83 KPMAN
£3.85 Chasin6
£3.87 Stockready1
£4.05 spight
£6.82 Y11
I think with the pension relaxation rules and the advent of Sipps it is surprising how many people have pension pots in excess of £1M. The buy out values of some of my colleagues occupational pensions were eye watering and unfortunately were enticed to swap out. They are managing huge amounts with very little experience resulting in purchasing high yielding and favour RI fodder shares with very little global diversification.
Slarti - the point I was trying to get across was that the buy backs are purely to counter the MCB’s
The free cash flow is good but I think the SP is hampered by the company’s debt level. Debt will be rolled over for years and not always on such favourable terms.
Vod issued two tranches of Mandatory Convertible bonds , the final one maturing next year. The associated share buyback programme was launched to counter the influx of shares when the bond converts.
The main issue is the threat of increased interest rates and how this will affect repayment on its considerably debt.
I would prefer for it to cut its dividends and make inroads into the debt pile.
Short term pain for long term gain.
Managing loss is just as important as taking profits. I do not take issue with a LTH hedging their investment with a small short position just in case.
Alternatively no issue with taking a long position on CP to hedge a perverse court decision that could have a negative effect on Cine.
For disclosure I’ve sold out of this a while back - for a simple reason it’s risk profile is way too high for my investment cycle.
I hope people that stick with it are justly rewarded.
E: Friday competitionToday 13:02
£3.54 Emerald
£3.61 oystercatcher
£3.62 Henrythecat
£3.64 JPWilliams
£3.65 licker
£3.75 Gulfharbour
£3.81 plas
£3.90 spights
Lat - very clear and detailed - thank you for taking the time to post it - it’s ironed out a few wrinkles I had
Below is an extract from a Canadian Newspaper and sums it up in simple terms.
I’m not sure it is as straightforward as some think especially with ‘ ordinary course “ during a pandemic which is unprecedented in Canadian Courts.
The case will hinge on Cineworld arguing it had the right to terminate the agreement without payment because Cineplex strayed from “ordinary course,” when it deferred its accounts payable by at least 60 days, reduced spending to the “bare minimum” and stopped paying landlords, movie studios, film distributors and suppliers at the pandemic’s start.
Cineworld alleged the changes were meant “to present a more favourable long term debt position in its financial statements than was actually the case” and “cannot be excused by the outbreak of the novel coronavirus.”
Cineplex’s statement of claim shows it will argue it fulfilled all of its obligations and that it continued with an “ordinary course” for the industry.
Cineplex will also claim Cineworld did not have grounds to terminate the deal because there was a clause exempting outbreaks of illness or changes affecting the motion picture theatre industry from being considered “material adverse effects.”
Both companies declined to comment because the matter is before the court, which will decide what contract obligations are in play if an act of god or illness occurs and what constitutes “ordinary course” during a pandemic.
There’s a lot at stake for both sides.
Shady - I assume the cat means something. Not too much damage done. If I had just sat on my hands I would be about 70% up - but by repeatedly trading it I’m over 200% up. Can’t get it right all the time but back in and not too much damage.
I’ve been trading this share from the very lows all the way to 120 when I sold the lot.
Last few days felt like a complete idiot so back in first thing at 137.
I now do not feel the need to watch it every second as I think it is well on its way to recovery and a higher rating.
Plan is to revisit in 3 years
Android £3.02
sb £3.05
Goose £314
Grandadtom £3.27
Henrythecat £3.28
Robbyw £3.29
Emerald £3.30
JPWilliams £3.31
Jezzoo £3.32
CharlesRix £3.33
Wmmg £3.34
Cong £3.35
Spights. £3.45
Plas £3.50
Certainly got this one wrong - sold out at just under 120 - congrats to those who stuck with it.
I understand people taking profits from this roller coaster especially if investing large amounts with small margins.
The risk dynamic is obviously totally different if one got in sub £2 that investor can afford to wait it out and see what happens.
I sold my last tranche of 102 yesterday near top of market.
After fretting last night bought all in this morning @ 116 only to sell a little later all at 120. Nice little profits but completely out of character and feels more like gambling.