Member Info for John33

'they indicated conclusion by end of 24',..if they said that and I assume they must have but I found that surprising because FGP took 13 months c.2019-2020 to offload their US bus, so makes our board look super efficient!

For the copy & paste

Https://uk.advfn.com/stock-market/london/mobico-MCG/share-news

IN THE KNOW: Mobico could see more value by keeping US bus arm - Citi

29/11/2024, have not got access to that artical, maybe they might just decide to keep hold of NASB unless an offer is to good to turn down.

Nuri123a,...the rule is 12 months AFAIK.

Whats the likelihood If there are write downs to assets, that may have an effect on covenants which in turn could mean cash raise?

Hope the reason for it being late is not a fund raising or unwelcome surprises to the downside.

From memory I checked recently the US sale by FGP, from the initial announcement inviting offers it took 13 months for the RNS to land announcing deal done so could be a long wait.

3.7M > 0.6%

In the last few months have not been 3.5%, that would be c.21M shares, there has been awards of 2.7M shares not even 0.5%!

Https://www.investorschronicle.co.uk/content/d9d20f20-7f19-5494-9897-87883ac03309

Sees fair value ex-US school buses at 190p?

Peel hunt doesn't think the NA sale will raise sufficient funds to reduce debt as much as needed.

NA sale value, get the impression Peel are thinking $350-500M!

(LSE:MCG) confirmation that its US school bus business is up for sale underlines the current low valuation, suggests Jefferies.

Strong [+10.2%] pricing on NASB [US school bus] contracts is supportive for both disposal interest and valuation potential, adds the bank, but even on a ‘trough’ multiple debts would fall materially.

Interim results were notable for not containing any guidance downgrades, adds the bank, which sees fair value ex-US school buses at 190p. Buy with an 80p target in its current view.

Peel Hunt is less convinced that the net proceeds from the school bus sale will be enough to reduce debts of nearly £1bn by as much as needed but said the additional £25m of net debt reduction initiatives identified was a nice surprise.

If interest rates drop, this will boost the debt reduction process even more, it added. Hold with a 70p target is its view.

Shares rose 17% to 66p

Profit improving but still poor with 3.5% operating margin. Don't what they'll get for NA if acceptable to the board but might be lucky to get $500M, hopefully closer to 800-$1B

UK losing money, even coach making a loss,...runs as a loss making public service only get worse under Labour, get rid!

Should be a BIG FAT ZERO!

have you seen the debt, do you not remember the previous divi reinstated then axed within months last year, give me strength!

Until they can demonstrate debt is under control/sustainable there will be no divi.

Or not as the case may be,..it has been pi55 poor without it a decent sale price goes out the window, and then bond/funding issues come into play to lower the debt

Polishcap have you not seen the basklash against tourism, in the scheme of the size of that business it might be small I don't know, but baring in mind 80M euro was recently shelled out imagine if that business has to now suffer falling profits, impairment charges, would sum precisely the crass management running this sh*t show!

I hope your right wealthtrasfer but based on recent past performance the mkt has preferred to differ up until now.

I don't know if I'm overly pessimistic but the mkt is attributing little value to the equity as if MCG is at deaths door, it could be worthless.

My take is,

depends how dire the situation gets regarding managing/paying off the debt to sustainable levels but I suspect Cosmens are allowing the vice to tighten until the pips squeak and only then come in with a low ball offer for ALSA which will allow the remnants to limp on to a slow death with little to no SP recovery, hope I'm wrong.

Having said that, without a large cash injection that hybrid bond is going to screw them on refinancing/covenants so something has to happen soon,...rock and a hard place!

I suspect any interest shown has been luke warm at best, news always leaks, shorts in no hurry to close. It would be better to hold onto it and show they can generate decent (cough) profits. If a sale value for NA had met the directors fair value we would have heard by now they don't wait for results day to release that info.

Not expecting interest rates to drop much so obtaining funding to purchase not to favourable, explains why probably little interest.

21st will just be an update on current trading y/e guidance,.. the later date, I hope will not be more impairments.