Member Info for KnockinOnHeavens

What I find so frustrating is the lack of news since the AAL offer was made

One of the reasons I invested was the information and the videos, now we have nothing: it’s like we where only privileged while we where being mugged
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Instead, Fraser created the whole section on the Sirius website for his AAL masters well before the official offer was even made. I am sure new carpets and the welcome flowers are ready too. He's such a devoted dog.

KOH

Fraser scaremonger, I hope you enjoy uncertainty you piece of s#it. That's exactly how the fear taste like. Uuuuu 7m and cosy 1m a year are hanging in the air, have a lovely evening Chris.

KOH

To add, the whole cyber attack drama turned out to be worth 25m less money from insurance. To put it in perspective, the global recovery of all systems cost them equivalent of 1 months earnings....and it is all back and running now and has better security than ever before. Think about it. Price always reflect the value, eventually. It may take a while but it has to re-rate at some point. With Travelex fully operational this is surely worth +100p now.
Market as usual, panic and histeria for no real reason. SARS, ebola, coronavirus you name it - all temporary.

KOH

Dont LOOK AT the current price, think*

Think for a second and look at the numbers. Hugely overdone. The whole business with annual EBITDA of +200m valued at 350m...complete madness. Travelex itself is worth well over a billion. Dont think on the current price, think. All that current nonsense was already included in price long time ago. Panic and sentiment, thats all. Wait a few months a we can have conversation who was right about buying opportunities at 50p. For now get a surgeon mask and panic like the rest of society. You wont have that opportunity in a few months time. TUI and Eayjet are on sale too by the way.

KOH

Another panic drop, absolutely no reasons to panic.
A) materiality level after cyber attack confirmed which probably around 10% of annual EBITDA after insurance receipt, not the end of the world
B) Travelex back and running, services fully recovered
C) YE results date confirmed (understandable delay due to system being off for over a month)
D) some coronavirus / shetty uncertainty

Crazy, this was trading over 200p a 2 months ago.

This is worth over 100p now easily, much more once coronavirus is sorted.

KOH

This is a good news in my opinion. Travelex is back and running, we know the impact (25m is not much in a grand scheme of things + will be offset against insurance), delayed results are results of system being off for a month which is understandable. We are basically left with temp coronavirus nonsense + shetty clarification.

This is ridiculously undervalued atm. Great buying opportunity.

KOH

“We will generate substantial export-led growth, create thousands of jobs, and provide hundreds of millions of pounds in tax revenue to benefit the local and national economies after Britain has left the European Union.”

“We will also give the UK a leading role in tackling global food security, selling fertilizer from North Yorkshire to help grow plants right around the world.
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By "We" he meant "me and my AA masters"....

KOH

Longish

Come on...Think about it. I really don't believe that that Shetty is a complete crook, he's a well respected businessman and successful founder operating on many markets for the last 40-50 years. Yes, they dangerously over-leveraged NMC and didn't comply with some listing rules but in my opinion this was done to accelerate growth rather than perpetrate a theft on a huge scale. He was caught in the middle of the perfect storm, margin calls fired, sold some shares in panic to rescue his wealth. What would you do seeing that domino effect ruining you life's work and and your lifetime achievement melting in front of your eyes? I believe that FIN is his flagship now, his way to recover from that mess and he will do absolutely everything in his power to protect it. Another good thing is that even if there was something dodgy going on at FIN, the whole situation with NMC alerted them and gave valuable time to straight things up. Anyway this is my personal view and not investment advice but I do believe that NMC will take all the beating and FIN survive completely unscathed. Great buying opportunities at these levels IMO.

KOH

Fredr

I've seen it and yes, apparently the are going to address it all: trading update, Travelex recovery, coronavirus, uncertainty re connections with NMC. I have a personal feeling that Shetty delayed the update on purpose. Knowing what was coming from NMC he didn't want the update and it's potential positive effect on the FIN's share price to be suppressed by the all these s#itty news that came last week: NMC suspension, FCA investigation, now debt restructuring combined will falling FTSE in general. Let the market absorb all the negative news first and then strike back and disassociate FIN from NMC mess and project some positives to the market in the same time. I mean Shetty lost a lot and needs his +60% holding at FIN to raise in value more than anything atm. If I was him and had something positive to say about FIN's trading results and Travelex recovery that's exactly what I would do - time the right moment to inform the market to maximise the impact. I'm sure that him & his advisors are working on detailed tactics how to get him out of that mess. Just my personal theory but would certainly make sense from his point of view. IMO.

KOH

Clearly the same person. Beware.

KOH

Doddle

Thanks for quoting me ;)

KOH

Learn this pattern for next time.
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Some see patterns in everything in life, they call it pareidolia

https://en.wikipedia.org/wiki/Pareidolia

KOH

Transfer of wealth from POOR TO RICH*

Some of you are talking £0 as if it was almost certain. In reality, we don't even have an understanding of the true financial position of the company yet.

Over-leverage doesn't necessarily means insolvency. Potential discrepancies and inconsistencies with unknown materiality levels in the ledger are not equivalent to "no money". Past contractual guarantees are not equivalent to realised liabilities. Non-disclosure of certain things may result in adverse audit opinion, correction and/or some penalties. It doesn't automatically mean bankruptcy. I would refrain from making any judgements until we get some real figures.

KOH

It was never about 75%, it was always about 50%.

KOH

I'm sure Fraser arranged for some flowers & doughnuts for his masters too.

KOH

"No cash means no business."
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Said the guy who thought there is a double entry for contingent liabilities........
"No cash means no business" - maybe, if you are a retail market stall potato seller and even they accept credit cards nowadays....

KOH

quickfeet

New to SXX? First post on 28/02/2020 (today) and coming just to **** off the idea?

Please.....

KOH

Aqua

Same old same old, I don't consider that to be a huge issue tbh. All these governance issues will be clarified sooner or later. Margin calls may have been called. It doesn't necesarily mean that the underlining business(es) are not doing ok. I'm more interested in the performance of the group itself and according to what we know as at today FIN seem to be doing more than fine. No reason to assume there are any accounting irregularities here only because they were found at NMC. Different company, more regulated financial services industry and listed fairly recently meeting all the FCA rules. FIN has never been under any scrutiny, no suspicions, nothing. Excellent performance to date. We just suffer because of Shetty's involvement and the chain of recent events: cyber attack & coronavirus. Everything in a very short period of time. Great buying opportunity at current levels and certainly no reason to panic.

KOH