Member Info for John33

Though to be fair that has been in place for a number of years, just the current situation means it's more likely to be used than ever before, they used it during covid, small shareholders were diluted by about 25% though I believe the SP was between 100p-200p back then.

Basically means they could issue shares and everyone else read small shareholders would be diluted to Kingdom come into OBLIVION, though have so far denied they are going to so recently in October 2025.

To give the Directors power to disapply pre-emption rights - general

Giving directors the power to disapply pre-emption rights generally means the company's shareholders have given the board the authority to issue new shares without offering them to existing shareholders first

. This is done to allow for quicker share issues, for example, when raising capital from a new investor. While this authority can be granted in the company's articles of association, it is typically achieved through a special resolution passed by the shareholders.

It was including in the email response Lara received from IR , SCROLL BACK TO 17 Nov 2025 18:00

I'm a bit suspicious as to why the Q3 is late, making spurious claims:-

"We are currently finalizing key work streams that will provide meaningful updates to the market. To ensure we can deliver pertinent information to our investors, we are aligning our Q3 announcement timing with the completion of these initiatives. "

......................

If the Q3 is ready to go and there is nothing to hide, by delaying it just continues the fear there is something bad to come out and they want to cushion the blow with other news. Other previous delays had a negative impact, no wonder the market and shorters continue to sell this share.

See of red, MCG & FGP take the crown on my watchlist today by some margin.

Whenever they've been late with results or sales of business ie NASB they have always tanked the SP on annoucement.

If we eventually get a Q3 TU could well be a kitchen sink job, FGP Bus segment of their results showed a slow down/ deterioration although still growth just slower. MCG UK bus probably lots of red ink. As for WeDriveU, someone mentioned earlier about the US gov shutdown, don't know if that will an affect

FGP results were today most will this.

First Group still doing ok despite the SP sell off last two days maybe has had knock on effect here.

.............................................

Commenting, Chief Executive Officer Graham Sutherland said:

"We have delivered a robust performance in H1 2026, made further progress in growing and diversifying the business and maintained our positive earnings trajectory. In the second half, we will benefit from the actions we have taken to restructure the business as well as the contribution of our recent acquisitions and expect modest growth in our adjusted earnings per share for the full year.

"Our focus remains on the delivery of our commitments, including the successful execution of our UK focused growth strategy. Underpinned by our strong balance sheet and disciplined capital allocation policy, we are well placed to deliver further benefits for all our stakeholders."

...................................................

If only the board here could at least deliver something positive.

After emailing IR five days ago I received a reply two hours ago along the same lines as Lara received, better late than never.

Ir@mobicogroup.com

I emailed investor contacts now into the third day asking if there will be a Q3 TU as there was last year 07 Nov 2024.

Nada, no reply as yet.

They could have said no plans to do so,

or the market will be informed in due course

or other.

I assumed they were referring to at least a Q3 update as the previous shower gave one last year

and they did mention on Octobe 17 2025:-

"Mobico remains committed to transparent communication and will provide further updates on its progress at the next trading update"

https://www.mobicogroup.com/media/news-releases/2025/mobico-group-attends-morgan-stanley-leveraged-finance-conference/

Nearly all of the recent trading updates have been late and the SP has accordingly tanked, we are now a day behind last year.

The SP drifting on a lack of news/positive catalyst to reverse the trend, if nothing forthcoming next week probably is signalling another sheet storm.

Lara last year was 07/11/2024

I'm trying to be positive but have we borrowed the on deck orchestra from the Titantic.

German PTA resolution , I'm optimistic it will be forthcoming just probably not with the due Q3 update,

Excerpt from Oct 17th,..."where significant progress has been made to reach a settlement over the past two months"

Phil White is no-nonsense guy and he said they had achieved more in his short tenure than the previous lot had in years and comes across as optimistic.

"The Company announces that on 4 November 2025 it granted a nil cost option award ("Award") over: (a) 531,914 ordinary shares of nominal value 5p each in the Company ("Shares") to the Company's Executive Chair, Phil White, and (b) 189,969 Shares to the Company's Group CFO, Brian Egan."

...................................................................

No cost, exercisable next year, would have preferred that there was a price to hit to trigger those.

The short fall on the sale of NASB has done this share, perhaps for £600m

It won't go bust if a rights issue of say 3 new for 1 old at 30p, won't be diluted if you take up your rights, raise c.£550-600m.

Yes you would have to shell out more cash (dilution of sorts) to stay in the game but it would put the balance sheet/debt concerns to bed for some time.

It would also limit the upside eventually to 100p in the long run rather than 400p but still a healthy return for long term holders from these levels.

Cosmens & PEwith deep pockets could underwrite the offer, would be a win for the Cosmens.

Cosmens must have some end game in mind as they continue to add, no way are they planning on losing their investment, but it may also be taken out of their hands if debt overwhelms the business, MCG trades out of this debt mess or cash injection of sorts, something has to give.

There has to be a slow down in ALSA's growth rate at some point, probably increased competition even in Spain as the consessions are removed/rail or other, it's just not sustainable unless they are able to replicate Spain model all around Europe/Middle East.

If it wasn't for Cosmens still buying I would say 1-10p incoming and D4E, in fact that could still happen.

Lara,

'I am giving opinion about mobico’s business which is still diversified and strong.'

It's no longer diversified, it's a one trick pony on profits, WeDriveU is minmal in terms of profit, UK Gemany will likely scrape along at breakeven for yearseven if there is a resolution. Uk is a basket case.

What is Cosmens game?

Are they waiting for Germany to resolve, or are they waiting for an Event of Default on the bonds and then ala WG. Sidara and inject cash take it private for a nominal sum.

Do they want to own ALSA outright or remain a major shareholder.

Makes grim reading,

Lara, read all p.16 BBVA credit rating report, they state MCG need a cash injestion of sorts to avoid downgrade, not sure of the date needed by, but cash injection from Cosmens, rights issue or sale of business:-

'Further Business Disposals

Unless Mobico attempts to sell ALSA (which we view as unlikely given the relative strength of the business), we see little value to the UK, German and (remaining) US businesses; we would expect these disposals to result in a similar outcome to US School Bus and attract little interest from investors.'

.....................

Implied value of busness apart from ALSA is probably zich!

What are the intentions of the Cosmen family and does it result in shareholders being shafted , they walk away with the golden goose.

Https://www.lse.co.uk/rns/MCG/holdings-in-company-ozfqnzj6301fup3.html

So they could get it for song, not sure what would be acceptable to insti investors.