Member Info for jedclampit

Group sales in the third quarter were £261.4m, an increase of +4.0% compared to the same quarter a year ago. Branded sales were +0.7% higher in the quarter, and Non-branded sales grew strongly, up +17.0%. These results reflect the robust performance of the UK food market and the benefits of the Group's strategic partnerships.

So it would be great to get better results in this 2018 quarter.

We all know that shares do drop when a divi is paid , but once this has gone ex divi then with luck the share price should start to increase a little each day so that when the divi is paid on the 8 th the sp could be back up to 20p- 25p -30p again. and ready for the next good bit of info coming out. re sell company for 35p

Good god we have gone almost the whole weekend without even 1 post so far about vog.
Does that mean that everyone has given up on vog and can't even bother to post anything, I would say good or bad but many cannot see any good left.
What will this do on Monday.

Let's not get stressed about debs I only have a very small punt at under £5k so what will be etc.
We are all trying to make a little extra it's as simple as that.

Just saying that the DEB and Flybe holders should choose their battles that’s all.

I hear what you say.
Wasn't it only 24th Dec that vog announced a new eneo contract, up until then vog was dead in the water and with only a few months trading before they went under. Well the position has changed slightly but still has the chance of going under due to not enough money etc etc.
Life is always a gamble, as for Debs don't right them off just yet as they are still making a profit and everyone knew this would take a few months to work out before it started moving forward.

I think some of the major problems has been the bod's were just too slow to make any big changes and happy to let the business slowly correct itselve.
For any business in this position you would think they would first sell off the Danish business asap for £100m+ to keep the banks off their backs and then give them time to sort out the rest.
OK the Danish business gives profit but it's better to have a smaller business without the part than go under with it.
So sell off now and take back control of the uk side while there is still time.

We all make comments on what we think is going to happen , and that is normally based on what we know.
The trouble is we never know what's going on in the backround, come on who thought there would be games at the AGM and board members would end up going, no one.
So now who knows where this will end, forced into admin by MA or a low bid.?

Wow , 2 major shareholders vote to oust the chairman. things are a changing.

If you worked in retail you would know that nearly all price cuts / promotions are mainly funded by the suppliers, and that is the same in food market, so doesn't come from debs.

Rating still 12p so NOT going bust. better news.
Let's see what other brokers come up with after AGM

What are you on about I am NOT that poster.

I think MA could buy this now for 25p a share,
That would value debs at about £300m, he already owns 30% so £100m leaving £200m to raise and once he sold of the Danish business to pay off debt he would almost get Debs for nothing.
He bought HoF for £90m + whatever he has paid or about to pay to get it right , so now 25p a share for Debs looks cheap.
But once debs gets their new bank lending sorted the sp will be much higher and MA could end up paying a lot more. Time to act now.

As it happens I do hold debs which are NOT going bust will still make a profit at year end, I do NOT hold any vog shares and will not with them in the current state.
They do not and will not make a profit in the next year maybe 2 years if they are still in business, they are short of money to run their business and short of money to develope the Matanda field, si I would expect a placing at some stage.
After that placing and when / if they start making a profit I might consider buying some.
Just why haven't the bod's bought any shares if this is such a good bet, or are they waiting for a placing at 15p where they can take advantage of the dilution.

So the bod's are still predicting a full year profit and NOT a loss, not taking into account any right offs.

From my vioew on things there seems to be at least 2 major points here.
After all the doom and gloom the rns states that (Against a challenging market backdrop, the Group is currently on track to deliver current year profits in line with market expectations[1], supported by further identified cost savings.)

(We continue to generate cash, with net debt as at 5 January of £286m, within the context of our total committed debt facilities of £520m.)
isn't that cash better than everyone thought it would be , and didn't many say they would be in debt by over £300m by now and even up to £500m from some.
So from both points we are in a better position than predicted.

I believe the bod's want to get the cash balance out of the way and give it back to the shareholders first and then sell the company for the rest of the cash and the developement returns, this way we are not just giving the cash away for nothing.
Still think they could get 35p for the rest, and they must have something in the pipeline already lined up by end Feb / March.

I guess we will have to wait to see what news comes out of the conference call and the AGM this afternoon.
Unless anyone has any info already from the conference call.

Nove, what are you on about?

ITHINK WE NEED SOME CLARIFICATION WITH THIS SECTION. We continue to generate cash, with net debt as at 5 January of £286m, within the context of our total committed debt facilities of £520m.
In light of the requirement to refinance existing bank facilities within the next 12 months, constructive discussions have commenced with lenders, and the group has put on hold any further asset disposals until the outcome of those discussions is known. This process includes options to bring new sources of funding into the business to ensure the appropriate capital structure. We will update on progress with these plans shortly.
Does that mean they are NOt now selling the Danish business or that they are not selling in other bits after the Danish business.?

This is a great move by the bod's, first give back a special divi of 15p then sell the compnay for another 35p ish.
If they just sold the company now as stands they would be just giving away cash it holds for nothing.
I think there could already be a deal in the pipeline which we might here about at the end of Feb, or before.