Member Info for jedclampit

I bet they will up-date everyone about the £400m loan for next winter and say it's all agreed, now if / when that happens it means the banks are fine and happy to lend against future increased profits and the sp will hit 40p.
But if the company come out and say they have a number of bids for the airline side and just need to confirm the values of bids the sp will go up to maybe 50p -60p over the next few weeks. Let's hope.

My guess
Full year revenue down 2% ;
Trading profit growth of +3% to  £128m

Adjusted profit before tax up +1% to £79m

Statutory profit before tax up to £22m; basic earnings per share 1 pence

Net debt £490m; a £5m reduction on prior year

Net debt/EBITDA3 reduced to 3.5x

Improvement in aggregate pensions surplus to £320m

Don't get me wrong but I believe you are now finding out what this company is really about. I know I have been negative on these for years now and before you say why do I post on here.
I have infact been getting all rns's sent to me direct as and when they first go out for about 6 years and been more involved than you think. So I do know just what's been going on.

But they are NOT trying to sell them, that's where they are building the business following TUI, and long term will produce more profit.

We see in many companies the worry about debt, this must now be a big concern with cna debt level of approx £3b - £3.5b.
They need to get this down asap.

That's good then isn't it.
They are taking action and closing branches to cut overheads they don't need, Just what the shareholders need to know and it will help the sp.

Thomas Cook Hotels & Resorts is the hotel division of Thomas Cook. Under its eight brands are 200 hotels across 47 destinations. With more than 38,000 rooms and 92 million room nights, it is among the top 40 hotel companies in the world.
Wonder what the asset value is there?

What do I know, it's just that vog were without gas for about a year, you would have thought that they would have tied eneo down so much in the new contract they couldn't get caught again, but they have and to say now that they are still working on sorting it out just seems very strange to me.
It was the lack of payment and costs over runs that led to the last new share issue, so what's to say it won't happen again.

What I find most concerning is this section within the rns,
The parties are currently operating on a signed binding Term Sheet and are working together to finalise a Fully Termed Agreement, which includes the provision of an appropriate bank guarantee. The invoices for gas consumed in 2019, totalling approximately $3.6 million (net), remain outstanding. Management expect payment shortly and is actively engaging with both ENEO and the Government to resolve this.

After eneo not paying their bills for 6 months last time and vog having to wait what about another 6-12 months to get paid, why didn't / hasn't the company got better G/Tees to get paid this time.
Seems to me that they are / were more concerned about telling shareholders that they were again supplying gas to eneo than how they were going to get paid , if at all this time !!!!!!
With very little money coming in now and having to pay out more, just how long is it going to be before they need MORE money and another share issue to keep them afloat ?

After reading this rns again a few times there seems to be a lot to worry about.
Industrial Customer Updates
Gas Sales Agreements have been signed with two new customers during the quarter, each with thermal and industrial power requirements. Commissioning of these customers is anticipated in Q4 19, and mid 2020 respectively.
So only 1 new customers should be taking gas in qtr 4 and the other could be taking gas in Mid 2020.
What has the sales team been doing?
ENEO have consistently consumed gas from GDC in excess of 5.5mmscf/d, which is above the contracted consumption volume. The parties are currently operating on a signed binding Term Sheet and are working together to finalise a Fully Termed Agreement, which includes the provision of an appropriate bank guarantee. The invoices for gas consumed in 2019, totalling approximately $3.6 million (net), remain outstanding. Management expect payment shortly and is actively engaging with both ENEO and the Government to resolve this.
So NO money coming in there then.
He Company has settled with a large creditor from its last drilling program and now trades with its creditors within trading terms. GDC has received a statutory demand in the BVI from Weatherford Services and Rental Ltd ("Weatherford") for payment of invoices relating to various services provided by Weatherford for the La-107 and La-108 drill program for an amount of approx. US$2.9m. The Company contends that this matter was in dispute prior to service of the statutory demand and has made an application to have the statutory demand set aside. The Company has also formally disputed that the full funds demanded are due and is working to resolve the matter.
More money to be paid out there.
The insurance claim to recover the costs associated with the La-108 well control event has been declined by the insurer based on their opinion that there was insufficient evidence of an underground blow-out as defined in the insurance policy
So another $20m not coming in from this insurance claim.
La-108 remediation
As a result of increased production demand, planning has commenced for works to recover the perforating gun lost down-hole and to conduct further perforating and flow testing to complete well La-108.
What did Foo say before a cost of approx. £2m to recover the gun.
All looks like a lot of money to be paid out and very little coming in.
NOT a very good RNS. !!!!!!

I do feel sorry for all the shoryter's here who are trying everything they can to push down the sp.
No one has even talked about TCG going bust, why would they. They have borrowing agreed for at least another few years and so many shorters are just trying the fear tatic.
So going by the press we have at least 2 bids, now after the airline business being up for sale for 3 months giving plenty of time for would be buyers to do due diligence etc, I take it a BID should be a confirmation to buy with a firm price, and not just intentions to buy. So if TCG can sell off some / most of the airline side and pay off debt, it's only a question of time before tcg's profits grow with all those new hotels. Should get a better idea next week.

No one has said Fosun has put in any bids for the airline business, I believe the market thinks Fosun will make a full takeover bid for TCG once tcg have sold off the airline business side.

That's correct but does that also now mean that they no longer need to be listed on the aim uk market and could be de-listed for somewhere esle.

So is this how it’s working, as it now looks like we have at least 2 bids for some or all of the airline business.
We all know that the airline business has been up for sale since Feb and that has given 3 months for anyone to do due diligence and consider a true value, then TCG put out the deadline of 7th May for bids.
According to Sky the bids are put straight to the banks for consideration, or are they all sealed bids based on a minimum TCG price that are not up for consideration.
Maybe that’s why TCG haven’t put out any RNS up-date it’s because the bank / banks are handling it all and they are the one’s making the decisions and will up-date TCG once it’s all done, and inform TCG by next weeks results.

Yes we did all that within a few days of getting back now about 55- 60 days ago, we had an email saying they were looking at it and as usual we were important , but to date nothing.

It's great to get an up-date on what's going on, but as usual there are more holes / question and bad news in the up-date than one would like.
After waiting all this time for the tide to turn in the shareholders way , it again looks like it's very slow progress and they will run out of all the money before they can turn a profit.
Not enough customers, still only 1 power plant, no insurance money coming in, under legal action to pay bills, it goes on & on. can only see the sp going down to 10p ish at this rate.

Is poor, we came back from a TCG holiday in March which had 5-6 hrs delays, I put in my claim under eu rules and although they have 28 / 30 days to sort something out it's now almost 60 days, not good enough.
If they want to grow their holiday business and take the loyal customers with them they need to look after them.
Rant over.

But then why would they now, they never issued an rns about the 7th May deadline and although they may have had 1 or more bids in for the airlines that doesn't mean the bids could be anywhere near the amounts / level that TCG are looking for, so at this stage they might as well just wait until the 16th and give us an up-date with the int results.
Wjhat ever happens it could be months before both sides agree on values here.

So invesco has sold 1% but who has bought it ?
Fosun ? could get another rns soon saying Fosun now 19 % -20%.

You have to wonder just how different brokers come up with different forward looking share prices.
We all know that TCG are trying to sell their airline business to reduce debt and change their business model, so when you get Morgan Stanley in April with a 50p price then we get Berenberg Bank again come out with 12p you have to think how can these experts be so different when they should all be looking at the same info.
But then you realise that some of these brokers are more like dealers and less advisers, and at the end of the day all out to make profit by manipulating the sp where ever possible.
I do think I can count on one hand the times any of these brokers have got it right, I just hate to think just how much or how good they are advising their own companies they are contracted to. God help us all.