Member Info for JG68

This is an extract of communication I received from IR relating to this.

Our current view is that it is hard to see where people have a claim given data has been restored/secured and there is no evidence of any losses, class actions are also relatively rare in the UK. It wouldn’t be appropriate for me to comment on what insurance is in place.

Same as Monday and Tuesday, being taken down on small volume, really wouldn't be surprised if they take this back down below 80 by the end of the week.

Too much negative sentiment everywhere.

Got 1 more tu before fy in march, was October 20 last year.

Just praying for confirmation their price increases are visibly kicking in H2.

Well according to them they will have that bond refinanced by the end of September.

Unless they don't and use the bridge extension which will just extend the uncertainty around that portion of their debt.

And to add further pretty much all my portfolio bar this and one other ended up along with both indexes, including companies with large debt, so to suggest that today's data only affected MCG is off the mark imo

Well this hasn't affected various other companies and their share prices today, including those in the travel sector.

Last week probably just a dead cat bounce to give long suffering holders a false glimmer.

Yesterday and today it moved identically, drip drip drip, signs of a large seller imo.

But this reversal started yesterday morning

Ffs stop falling.

Must be a background seller this week

This will be back in the 70s by US cpi tomorrow.

I just don't understand why they take it up to 90 yesterday morning only to drip it back down.

F-----g infuriating on zero news on 2 up market days.

Is Toli nofear in disguise!!

Says notes maybe interest bearing or non interest bearing and maybe fixed or floating.

I think from my limited interpretation they are arranging the foundation and will then issue notes accordingly to use as they see fit, and interest terms will be agreed then.

But I could be completely off the mark

Does it say what interest rate it will be?

The section on what the proceeds will be used for on page 20 is one sentence and not very helpful.

Surely there would be more than a " just copy and paste the link and read it yourself" explanation if it is going to be used to pay off the existing bond etc etc

Can't be anything remotely important or this death by a thousand cuts would either stop or escalate.

A simple layman's terms explanation would have been nice.

But I guess IRs communication skills leave a lot to be desired.

They have stated they will refinance it so really can't see a RI. Also the RCF is undrawn.

Subsequent to the period end the Group completed the refinancing of its Core RCF facility, with the signing of a new £600m, 5 year committed revolving credit facility, with options to extend for two further years.

In November 2023, the £400m 2023 bond matures, and the Group anticipates refinancing this with a new bond in Q3 2023. In anticipation of this refinancing, the Group previously entered into a £400m bridge-to-bond facility in December 2022 in order to maintain liquidity headroom; this facility is for an initial period of 18 months and includes committed options to extend the maturity date until December 2025 if required.

To ensure sufficient availability of liquidity, the Board requires the Group to maintain a minimum of £300m in cash and undrawn committed facilities at all times. This does not include factoring facilities which allow the without-recourse sale of receivables. These arrangements provide the Group with more economic alternatives to early payment discounts for the management of working capital, and as such are not included in (or required for) liquidity forecasts.

At 30 June 2023, the Group had foreign currency debt and swaps held as net investment hedges. These help mitigate volatility in the foreign currency translation of our overseas net assets. The Group also hedges its exposure to interest rate movements to maintain an appropriate balance between fixed and floating interest rates on borrowings. At 30 June 2023, the proportion of Group debt at floating rates was 18% (31 December 2022: 19%).

The bond price is on par with sp currently, I cannot understand why the CFO didn't deal with this last year soon after being appointed, considering it matures in February next year, and also where interest rates were last year, but what do I know.

Surely they wouldn't be thinking of doubling the shares in issue after just reinstating dividends?

That would be corporate suicide.

Joseywales are you talking about the 400 bond due to be refinanced this quarter?

I think a majority of people who have been invested here a while and have had to average down over the last couple of years , felt good value was at 159, 120, 100 etc.

I have 3 tranches now over 50k each, at 89, 102 and 120, so no I really can do without it being dripped back down because of such low volume.

Imo that's all it is this week, its moving a fair bit on literally nothing compared to last week.

I'm not topslicing when I break even on any tranche because it will make the whole pain, stress and discomfort if sitting on large losses fir nothing when this eventually gets back to even fair value.

I can understand if people have bought in in the 70s and want to make their profit and then rinse repeat, but personally I feel that's pointless because the the buy in price will be the last sell price if within 30 days, so will even itself out tax wise etc.

Just pees me off for it move on such pathetic volume.

This is going to be dripped down on no volume.

Some of the traders will be happy no doubt.

It's all very well for short termers who have only been buying in the 70 and 80s, but most people who have large holdings were buying over a quid.

If this went back down to 79 that would be 16k more in the red.

No thanks