Member Info for John33

Squatlover2 you need swap out bust for dilution

It's because the bonds, loans etc are due in the next couple or thereafter years, outstanding credit will have to be renegotiated/rolled at most likely penal interest rates as their credit rating is junk, rock & a hard place!

Believe me I ask myself the same question every day, must be a combination fear, greed, FOMO.

Debt is the reason for the SP where it is, whether they can not only service it but pay it down as the £500m hybrid is not included in the debt covenants which potentially makes MCG a busted flush.

An OP of £200m will not translate to FCF of £200m, after interest payments there will be only £50-70FCF, it will hardly move the needle to shift the debt burden to manageable levels, it is gonna be a cash raise/dilution sooner or later.

Thanks for the reply Paddy, I just find it hard to believe they will be able to pay the debt down without a cash raise at some point.

Paddy are you not concerned the hybrid bond continues to fall? I've sold some today taken some profits, I expect a pull back, this is short induced rally not on the underlying health of the business as we know it is still in a precarious position regarding the debt level.

Audited results

I expect to be released sometime in July.

https://www.lse.co.uk/rns/MCG/appointment-of-kpmg-as-new-auditor-xaoh45926fgetld.html

'publication of audited annual accounts for the 15 months to 31 March 2026 (by 31 July 2026)'

Has davros & zee daleks exterminated firepower?

Xsterminate, XTsterminate zee shorts

Flame r e t ard ant

flame ******ant

no, but i do hope for his well-being 'firepower numero uno' is cladded in flame ******ant attire.

In two weeks it's gone from c.17.5p to 27p, I am suprised the BoD have not come out to say we know nothing for the SP rise or if there is inform the market, it did when PTAs RNS was released.

Must be shorts closing.

Short squeeze or something else?

Lol, maybe it's clear blue skies, if only.

Nice to see the rise, but let's hope it is not going to be another false dawn rinse & repeat where they knock it back down to c.17p

Conrad are you a close relative of JamesOxford?

Doesn't really matter, if they can't raise or refinance the debt at manageable levels the lenders or bond holders could just foreclose via a D4E.

The price keeps dropping because the market does not believe the turn around is possibe under the current weight of enormous debt which in one form or another could see current shareholders all but wiped out.

I think the uncertainty and the free fall of the SP is that whilst the BoD state they can cover bond/debt when due in the next two years but they will need to refinace and the fact MCG have junk bond rating with the credit ratings companies means they will have to pay ever higher interest payments, it's like a debt spiral or loop which they need to break somehow, maybe one for JamesOxford to offer his wisdom and assist the BoD!

And on top of that the real nebt debt debt covenant is closer to 4.7,..

From the IC,.."Mobico treats the hybrid bond as equity because technically it never has to be paid back. The banks therefore allow the company to exclude it from covenant gearing calculations, which flatters debt ratios. When treated as debt alongside leases, leverage is forecast to be 4.7 times in 2026."

For the record I am not short.

Arrowtreet aren't buying they are shorting a further 700k shares now 1.91% as of last Thur 02 Apr 2026

The IC article is based on what anaylsts covering the stock are saying