Member Info for itisagame

I know someone who got a quote in 6s but didn’t take it, I waited and buy was 8.3 yesterday too.

10p paid for loose change, looking much better today, well done anyone who took some around the lows yesterday, one more penny and some could be up 50% already.

That times article “After taking into account seasonal effects, prices have now fallen 3.7 per cent since peaking last August, Nationwide calculated.”

So if you even gave them the drop in August aswell -3.7% since the end of year results (end sept 22), which only equates to -£8m on the then gross assets

Way overdone, they just need to get the plc house keeping done pronto.

Newspapers are making house price headlines up as they go along. Todays one said 1.1% drop over the year to feb, guess they all want to spin the fear factor.

https://www.bbc.co.uk/news/business-64807971.amp

I know it’s a technical bargain and I did buy more today, so I have various trades open at 8-13p, not a huge total sum but any recovery to even 20p would reward me handsomely.

Not ideal but I wouldn’t mind if it suspended for a few months and came back with it all resolved, new board, sales completed, finances cleaned up.

“UK house prices fell by 1.1% in the year to February, as higher mortgage rates and living costs made homes less affordable.“

Down 1.1% in a year. Big whoop.
£90m nav (sept) + £100m debt currently plus cash =£200m of assets.

Priced at £18m (plus debt)
Land prices havnt halved

Expect it will suggest needing to complete a few large asset sales or need to refinance the projects that they want to hold with longer term debt to clean up the debt structure.

It’s the Nav they keep saying they had in September, it would have changed as land values change weekly realistically they haven’t dropped 50%

Disclaimer : I may have just blinded myself to the downside as it seems cheap to me and I can envisage a path to get the sp closer to what the nav is - ie potentially : asset sales, clear debts(refinance some. Projects) resume buybacks, more asset sales, return cash to shareholders, while preparing facilities for new investments in the event of deals in the coming downturn.

expect that they will need to complete / release the Accounts and strategic review around same time as one cannot contain information that conflicts with the other.

"The Board expects to report full year results and IFRS net asset value in line with the trading update provided on 25 January 2023."

Reminder 25th Jan : "As a result of the items referred to above, the expected loss before tax for the year ending 30 September 2022 is now approximately £91.0m and the net assets at the balance sheet date approximately £90.0m, which represents an IFRS net asset value of approximately 40p per ordinary share, which excludes any EPRA uplift. "

Strategic sale - strategic review*

I expect the strategic sale to indicate that they should aim to sell ~£50m worth of assets, repurchase some INLZ on market and eventually clear the ZDP shares, the loan, renew the RCF, this would leave them in a very healthy position

Ceo of a PLC is a much different job to being ceo of a private company.

Maybe it was to do with the strategic sale and the ideas on how to proceed with it from the major shareholders.

Was 30p when they extended the share buy backs in sept, which were “paused” pending result of strategic review.

Sp at 15p for 40p nav of real assets even after the harsh provisions.

Inlz looks pretty cheap too as basically a bond, at 1.35-1.50 for the £2 redemption in 14 months.

Lombard and miton had roughly a combined ~25% of the company, and have been selling the last month, it’s only had ~500m volume in the last month, it’s holding up well really, nothing odd happening, just need patience

Spoke to a big wig shareholder of MCL who proposed an all share takeover of Amgo and NSF by MCL at £1 per share, and issuing new predatory loans via block chain to avoid FCA regulations, potentially calling the combined company “Non-McMigo Binance”

Not sure if he was serious but he was hoping for the best.

https://assetmatch.com/app/OurCompanies/CompanyProfile?companyId=2553

“Following Morses Club's "Result of General Meeting" announcement, the company has appointed Asset Match to provide a secondary trading facility.
The first auction is due to close on Wednesday 15th March 2023 at 4pm. An order book will appear here when orders have been received.”

Frankie’s fault, you are all being called in to the headmasters office for a telling off

MSG - if you take up your full allocation then be prepared for the potential of taking a 95% hit on the value of your existing holding to potentially eventually make some on any of the rights issue stock you take up.

If you don’t take up the full ri you will lose alot of value.

The SP will fall to around the RI value as brokers will sell all the stock people do t take up all the way down to the RI price.

The Safest option for long term investment here is to buy after the RI

Until then maybe Consider only owning 1/19th of the position size you would eventually like to own so you can take up your full allocation.

Ignore the hype and herd, think about what’s best for you.

£30k prob ends up buying 6m shares at 0.5p, if £45m raise, if you paid around 3p for the ones you hold then you would have 7m shares at average price of around 1p and by not taking up the remaining allocation would give the brokers 13m to sell at 0.5p.

Shareholders are getting shafted, the reason for no 72m fine is because it would have taken priority over the claimants and pushed the company In to admin leaving claimants with Nothing
.

Next rns is “we changed out mind because of Frankie’s post, £72m is due by end of the week. “

Hard parts done, the settlement and route back to lending to eventually grow a profitable book is simple.