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Looks like a perfect share for yourself and Silver to invest your 5p p/s shareholder compensation payment from Debs when received.
Silver - you are one dense piece of wood
This is the last time I will post here. Its painful reading some of the brainless messages being posted here and trust me my intention is not to insult. If people think they will ever get a cent back here they are delusional. The same poor decision making illogical thinking that told them they would get rich from debs is still telling them there is hope. Sleepwalkers!
All my own points of view of course and could be very much off the mark!
Silver - my intention is not to insult you but I haven't a clue what you last message means. Maybe my IQ isn't up to your level. National disgrace, injustice and conspiracy.....against shareholders? This is capitalism... you risk your capital you might loose it. I don't want to harp on about this but its integral, the lenders made final decisions re debs. My best guess is the BOD received the offer from MA, went straight to their lenders based on covenants, lenders said no based on best outcome for them and they advised they'd be putting the company into administration. So the BOD agreed to do so due to having no other options. I do think MA got stung in that when he first bought in more positive noises were there concerning revenue stabilising. The opposite occurred. Management was poor but not a crime. I'm sure MA realises his error but his ego is bruised. My ego would have me threatening all sorts of legal action if I made such a mistake /lost so much money. BTW again not to insult you, lenders own the assets, shareholders own the equity. There has been no equity in debs for a long time hence the share price slightly above 0 near the end!
Knigelk - agree with alot of your points. I gambled here myself for a while. It was a small enough amount of my overall indexed holdings - 2%. I got out a while back. I similarly gambled on carillion before it went down. It was in it for the buzz and didn't make money. Who makes money gambling, very few. Anyways hope such shares and their demise will encourage people to invest or at the very least question their investing /gambling!!
Silver - MA won't be spending any money here re legal challenge......to find out many lending covenants were breached. Such covenants would have included additional restrictions on other lending /funding. The BOD will outline this if there was a challenge.... we had no option your honour... only thing to do here is accept a full write off on your gamble
Unfortunately there will be no return here ever for shareholders. Anything else is misleading. Lenders were calling the shots here, it seems Debenhams entered administration however I'm sure if they didn't lenders would have put them into it! The lenders protected their position which they are entitled to do. I'm sure they felt their return would be greater rather than - lump sum from a sale rather than restructure a deal with MA. Why was MA so interested in Debs - to save jobs?? Come on! If a company has half a bill in debt and pension liabilities and can't pay the debt, what happens? MA is a business man, the lenders decided to take their best loss which in their view wasn't working with MA. Its business folks. Stop gambling on shares. This was a pure gamble given company issues
Unfortunately his big gamble didn't pay off. I would have thought he wanted a share of the pie but didn't want to take on the full liabilities of debs hence the reason no offer for the company was ever made. It appears the lenders protected their own position in favour of letting MA emerge as the big winner here, with them then taking the haircut. Its business as tough as it sounds and MA is hurting as all who lose money in such ventures. I was a previous shareholder and gambled here as I did with Carillion. I escaped on both fronts fortunately but was in on both for the big win. I classify individual share buying as gambling, unless you have the expertise and time to study accounts intimately. I don't. Carillion and debs were a huge lesson to me - stop looking for the needle in the haystack and just buy the market. Best of luck to all who lost here, I've lost plenty in the past looking for the needle. Too hard to find so I've given up and continue to buy the market/index funds!!
Thanks for that Compass, supports the general view here too. I have a feeling that this now will creep higher, slowly but surely. Undervalued shares just require patience. Harder than it sounds. I am in at the 264/265 level so feel confident despite the headwinds VM has faced. If brexit concludes in a manner of broad agreement UK shares in general will get a great boost....heres hopin!
The underlying value in this company is not evident in the share price. For 2018 further growth is clearly anticipated. So net interest margins will be lower - will this effect the forward movement in P/E ?No It will reduce profits but not on a material level. Current EPS of 37.8p beat expectations. My understanding from Morningstar was that c. 33p was expected. Therefore P/E yesterday was slightly over 8 times (33p *�2.65 = 8.03 times). Today if we take this simple calculation on the new EPS figure 37.8p x 8.03 = �3.04 and we are only at �2.78. Sector medium is at 14.6 times P/E. Therefore 14.6 x 37.8p = �5.52 . The market really is a thick muppet. IPO at �2.83 with EPS at 23p in 2015 with the price range between �2.90 to �4.50. I think the 2015 EPS figure will double in 2018 to say 46p. What a bargin due to brexit and other macro economic factors. Lets say banks come back into favour in a few years could we be looking at the banking section in general with a P/E sector ratio of 20? Is so based on continued steady growth in 5 years we are looking at EPS of c. 75p x 20 = �15 (5.4 times the current price). Any comments negative/positive welcome ? ?
Not a popular share however totally undervalued. Hopefully the results will garner this one more positive attention!
What did Mikey do Gillpat, invest heavily Friday afternoon?
It was just the incredible language that day Hi Hi .....very funny
I agree Hi Hi but unfortunately the banks had the best view and called it a day. Its a massive hit for shareholders and the banks......I cant believe the banks through in the towel as there are no real tangible assets to go after (in terms of the overall debt - small percentage). Ben Graham always gets it right look for companies of a with a tangible net asset value per share equal to the share price....this failed that test miserably.
Well that's good to hear......In fairness I don't like seeing people lose their money.
Hi Hi you got it so wrong you cant even see it. Calling it a Ponzi scheme and then staying in. I am sure there are GA meetings in your area. I also got it wrong but through a moment of clarity I sold out, it was just plain luck nothing more on my side!
Hi-hi you were banded because you are crazy........you should maybe stop investing in shares as it doesn't suit you. I am sure your husband sees the difference in you today ........given your investment is gone. Its funny because although you now have nothing , its like you have your freedom back and your have cheered up. Maybe just stick to indexing and sterling cost averaging
Its a tough day for many and a lot of anger here is understandable. Its very disappointing that no reference was given in the press release to the company owners (shareholdings), it really said it all for me. I have mixed feelings. I gambled here myself however I was extremely fortunate to get out and it was not on any great hunch as I truly wrongly believed this would come good. I sold out on Thurs morning (not Wednesday as previously stated) as this share was effecting my piece of mind and I put in a request to have my gambling fund with my broker transferred into my pension. It was just plain luck that I decided to stop gambling on that day. I even had to double check that I did this on my way to work today to make sure it wasn't a dream. The news has sort of consumed me today as I know how tough it is to lose money. I suppose its fairly evident why there are so few Buffets after all. I jumped in here to make quick cash and get that buzz of the rollercoaster this share was. I think that's me finished posting, best of luck to all winners and losers!
Its a tough day for many and a lot of anger here is understandable. Its very disappointing that no reference was given in the press release to the company owners (shareholdings), it really said it all for me. I have mixed feelings. I gambled here myself however I was extremely fortunate to get out and it was not on any great hunch as I truly wrongly believed this would come good. I sold out on Thurs morning (not Wednesday as previously stated) as this share was effecting my piece of mind and I put in a request to have my gambling fund with my broker transferred into my pension. It was just plain luck that I decided to stop gambling on that day. I even had to double check that I did this on my way to work today to make sure it wasn't a dream. The news has sort of consumed me today as I know how tough it is to lose money. I suppose its fairly evident why there are so few Buffets after all. I jumped in here to make quick cash and get that buzz of the rollercoaster this share was. I think that's me finished posting, best of luck to all winners and losers!