RE: re when this turns I'd be happier with an average of 280 than 58023 Aug 2019 13:03
65jh - have you actually got a clue about the results, or any insight / expertise to back up your guess? You can't even spell, so I'll have a wild guess that you haven't got a Scooby Doo but just fancied an argument.
Isn't debt from the HY Report at net £5b? £186m from £5b is 3.7% and £250m from £5b is 5%, so both are double your figures, with the total 8.7% Add on the costs saved from suspending the dividend (£61.8m/1.2%) and you are half-way to the 20% target you mention before you look at other disposals, cost savings, reduced expenditure etc. Am I using the wrong figures from my look at the Report (quite possible) or are you (deliberately or otherwise) using incorrect figures ?
I just think the comment in the RNS about equity was ill-thought and could have been left unsaid. Ultimately raising equity is an option for a company so it perhaps didn't need spelling out as it got more publicity than the follow-up comment that this would be as a last resort. With sales in Spain at phase 2 and the disposal of some non-core, together with a reduction in expenditure, some residential conversion and a suspension of the dividend they are doing quite a bit to address already. Surely there should just be some chat with the Peel Group and a sensible deal done which will benefit all parties compared to the current sp low.
Well an accepted offer of £2.10 was only pulled last November, blamed on Brexit uncertainty amongst other things. The Takeover was by a Consortium who already have nearly 30% of the shares anyway and these assets are going to be around for a long time, so it is difficult to understand why the values should drop so quickly, even with the debt. The company also seem to be doing some of the right things including looking to develop some home alongside some sites and some disposals are underway. A lot of this drop is due I believe to the fact that they even mentioned issuing new equity as a possible option.
Yes, £5b debt, or £4.6b net debt on the latest statements, but £8b assets on the same statements, even after a down valuation of £1b. £3b shareholder equity compared to the market cap. Disposals planned or ideally a new (reduced) takeover offer as it was recently going through at £2 ish. Either that, or some wealthy overseas consortium can have one of the Crown Jewels (Trafford and Lakeside valued at £3b between them, even after 11% down valuations.) That will smash the debt and still leave plenty, if necessary.
RE: ILLBETABUCK is a very strange fellow21 Aug 2019 20:49
I am not sure about desperation on their part Paul, but to be fair you also come across as some sort of deranged Doctor Evil figure counting up the posts and referencing them all the time. Haven't you also got something better to do?