RE: The Dog Star Effect19 Feb 2020 02:15
Adouk,
Re HUR V SXX etc.
There is absolutely no similarity at all imo.
I invested in SXX and have lost a small wedge, BUT, one has to look into the reasons as to why SXX failed to come up with the finance, and when you look into the SXX situation in depth, you will find imho, it is because the BOD's were not only incompetent, but also had prior connections with AAL, that is a fact, and on the surface looks like this was done deal always in the making, at the same time as raising a placing for finance whilst also discussing a relationship with AA,L unbeknown at the time to SXX SH's.
SXX have already garnered some agreed 13.5 Million tonnes of orders, known as TORPS, to secure future revenues.
There is now a concerted campaign and opinion / belief amongst remaining PI's, that should a 'No Vote' to the takeover win, and many are of that opinion it may succeed, then bond holders, ie Qatari's and others may assist in raising alternative finance in order to secure their Bond investment, as administration would wipe the bonds out. (The Qatari's had already offered a bridging option but backed down after the AAL offer, assuming that their bonds would be safe on takeover. That position is still at Risk imo.
Basically, investors in SXX have suffered imo, because of the companies reliance on JPM as advisors.