The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
We have posters on here who are trying to convince themselves that the recent RNS was good news. For me at least, it screamed more losses and zero ability to generate cash internally without resorting to capital markets.
As Wally says on another board, why should we be surprised? Kier has gone to the market twice over the last three years and completely diluted its long suffering shareholders.
That 125p support came and went. Newxt thing we should see 110p, probably in the next few weeks as the reality of that update is digested.
No movement on net debt after all this time. That for me is a warning sign of more bad times ahead.
There is one positive though. They can use the paperwork for the equity raise for the next equity raise. Should save £12m in costs.
Kier is down sice release by say 4%. The market is unimpressed with the lack of real news.
Kier does not want to say because it needs to put distance between it and the rights issue. Boy, did they get lucky with the cash raise.
Now they have to show progress on debt. It sure aint happening yet.
Expect a mediocre set of numbers at best as all the costs incurred over the last six months of restructuring must be written off.
The good news is that is the end of the restructuring...........until December when another bunch of costs will hit the P&L.