Member Info for joseywales

That sale was not great but then it’s a buyers market out there. Still patiently waiting for interest to wain here but seems to be holding well.

WT…if you are still here I grabbed some 888 sub 80 and JUP today. Hopefully one will deliver a relatively short term return.

No it sucked at Wood Group ... would take an Apollo moment here though!

It would certainly appear they see some urgency in it. Just hope it's for the good. GLG supposedly spend a lot of money on research companies who speak to ex and current employees of organisations. Hopefully their increase was more 'strategy' than 'information'.

Yeah, my omelettes are more like a dog's breakfast so need some help!

I think buy after presentation or before probably works. The lowest I sold at was 68p and I certainly have not bought all back. I just wanted to buy some, so at least if there is an off chance they say something positive about the US, I won't be kicking myself as badly. That's the only thing which could blow the doors off in terms of an SP rise, I imagine.

Flip side is I sell at yet another loss as results are accompanied by nothing substantive and I'm not going to tie cash in this for another 6 months!

Teaching us to suck eggs Pokerchips?

Whilst different in scale to ones I have been involved in, 6 months to offer is enough. Actually it's once you get to offers in principle that the a barrage of work commences. The primary element of presentation to tender offers is 3-6 months really. Another 3 + to complete. Like I say, current environment is a buyers market and the company might be taking it's time so month on month improvement can be seen against forecast value etc. The business will likely be presented at a value presentation on 'realisable' value as opposed to actual. Its the smart play and countered by stripdowns etc.

Anyway, at least the dates in now so bought back some this morning just in case the results are accompanied by a strong presentation of outlook.

Mike....it was just the only real threat I saw to the money I have invested. I have previously stated the whole 75% rule etc. Ditto for an MBO to happen they need to secure approval so they and any finance partners would need to be securing votes/buying them.

25% off all their kit on Ebay today to if any of you want some phones etc, fill your boots!!

Well a few weeks back I sold down from 77p to last batch at 68 with a loss on most. Just not so confident in this and don’t want another year tying up cash when there some good opportunities which will turn sooner.

However, when this goes into the 50s it is compelling based on what happened within weeks of this touching the 50s last time!

Really is a patience game this one. Eventually the sellers will dissipate.

There’s 160m of ‘free cash’ in the company so once US has gone (for some consideration one would imagine), little stopping them from adding a bit more to buyback if it fails to get the SP to where they want it to be.

I lost faith in this. I fear the US will be wanted at too much discount in the current climate. So the question is can they service the debt, grow and remain in covenants without a US sale?

This SP is really tempting but probably for a reason. Having reduced to a very small holding I’m not sure whether to jump on the merry-go round again or simply buy on news.

I’m not sure that’s quite the case Hedge but it makes sense that suitors are asking to see management progress against goals in Q1/Q2, before committing to a value.

Spikey as I see delisting as a real threat here.

As for THG, plenty of money to be made (and lost) playing that stock. At least it has a degree of ebbs and flows which enable you to play the stock. This one has pretty much been a one way street so only able to average down by scaling holding.

ATM and rental have pushed to company into debt and probably one of the worst performing IPOs of the last 5 years.

Its challenges are different to that of Redeem’s so hopefully come the AGM, this SP will start turning.

They need to ditch the offer period…it brings about more questions in terms of the credibility of management and quite possibly blind expectation.

This is all managed with a price intelligence file which takes into account historic trends etc. Already mentioned this but all the main trade in houses have their systems pulling on ai and business intelligence. Really it’s the least of concerns as long as assets in field are constantly subject to revaluation on BS. If not, it’s a non cash impact but as rightly pointed out, affects the balance sheet value.

Cash generative is the key here. Park the rest for the minute…the company needs to show cash heading in right direction.

Just as well banking covenants are not linked to market cap!

Just a matter of patience. These drops are nice little opportunities. 25m is 50m shares at this level so a long long way to go. Not sure where the additional 12.5m has come from mind.

Radio silence from a company that has reported burning cash for 2023 and in ‘talks’ with potential buyers for nigh on 6 months. So it’s a highly speculative buy for anyone right now. Could drag on like this for some time I imagine and if H1 does not show significant improvements we all lose.

Well for one, you don't stay in offer period for over 4 months....certainly without a process update.

Secondly, an 'in line with expectations' comment with no real strong guidance on outlook for '24 is poor considering the current situation. It's almost apathetic management and certainly no recognition of the brutal shareholder value attrition. Let's face it, WeWork took longer to unravel than this SP has.

For me personally the signals point to delisting if they feel capable of getting the votes. As investors it's simply a gamble between that and the business going back to usual, with slow re-rate on 'profitable/cash generative' activity or a relatively low ball acquisition either through MBO or third party. If one of the latter two happen ... this here is a great SP to be in at .... if the former ... well you can't take it with you!!

It's more trailing averages really but if they want to go the MBO route I think the highest paid for shares in the last year becomes important in the offer.

That said, if it was me I'd chase down holders for an undertaking to delist. You keep your holding and lose the hassle of being listed. Cannacord may have exited because of that very reason and scuppered plans for a decent chunk of support. The other issue might be keeping the revolving credit line under private structure. Delisting would take this to 3/4p I imagine.

Who knows what's going on but one thing for sure is that management are not bothered about the state of the SP. Always concerning really.

Year high is still 33p. Drops to 25p-ish come end of April .... so I'd get used to the silence and suppressed SP for another month or so!

Who know how many GSA are holding and what they need to buy. If you look at their shorting history they try to sniff out opportunities which a chance of failure/significant restructuring. Really does not look like this is one of those instances. In fact the groundwork has really been underway for some time. Was only in for a quick win but will keep some long term now. Will treble and then some in 18 months ... if Redwood don't look to buy it.

Well we could be down here or worse for some time. Very much doubt Robswire is short or long, so it's better he trolls the company than people on social media or the like.

Where he is right is in offering a contrary view. Things are far from right in the company and your lens is somewhat rose tinted Hedge.

Like many investments, I am playing with money I know I can flat out lose here. It will sting but a large proportion added just lately is from profit elsewhere.

I don't think the business will fail. I do however think management are working on keeping their holdings intact and a way to get it off AIM at the lowest cost/benefit to them and whoever they might be working with. So it could well be in their interest to have this SP so low for some time.

The business really has been throttled by ATMs and rental and there's no hiding the fact it's taken a hugely inflated IPO down to peanuts in the space of a few years.

Let's just hope for better and not be too shocked by the worst. It's a simple business that could be corrected very quickly but how much we shareholders benefit from that ... I'm not sure.

Like many, I sold a few of what I held yesterday to mitigate risk and potentially buy back in this morning. That report gives me the confidence to buyback if the sp does not runaway on open.