Member Info for Krustysmegma

Most likely outcome I'd have thought. Not necessarily a bad thing.

No sign of the dividend in HL yet, anyone else had theirs?

Received an apologetic holding email confirming that they are, indeed, very busy but hoping to get a reply out this week. Will post follow-up reply.

Have a great weekend all. K

Good to hear Velo, I'm still optimistic on this stock too.

Hi Sam, yes great weekend thank you. Met up with some friends, great to catch up.

No reply from the company, I guess they're all busy guys. I'll keep an eye out & post any reply received.

8p remaining NAV does not take into account costs between year-end and liquidation. With Far Ralia sale dragging on, there may be very little left to distribute, and who knows when it will be paid. Hence another 10% drop this morning.

Thanks Sam, I'll do that & copy the reply on here for all to view. K

I think the sp drop is more to do with the house price fall in April announced this morning, following the new stamp duty rates being introduced.

OK so here's the part I'm struggling to comprehend. When TMIP announced the possibility of an offer for Grind, they said "The complementary nature of the companies' fleets and enhanced operational scale in the geared dry-bulk sector will create meaningful additional value for shareholders and customers that both companies serve."

TMIP owned 28 vessels at the point of the offer. The combined fleet was 58 vessels. Today the fleet consists of 19 vessels. Yes the debt has nearly been paid off, and yes the CEO has taken a pay cut, but so he should - the company is 1/3 the size it was following merger. How can they possibly generate economies of scale from a shrinking business? Surely some drastic cost-cutting is required to maintain margins? Why haven't all the directors taken a cut in pay to reflect the scale of the business they now operate? The dividend is welcome but unsustainable. They can't keep selling vessels to pay it, there won't be any left before long at this rate.

Anyone have any thoughts on this? I hope there's a plan but if there is, I can't see what it is.

I could envisage a blended approach potnak, with JV's for some of the indicators (1801 & possibly 737?) whilst SAR might fund future development for others (1802 and 737 if no JV materialises) with more HNWI investment. Just a scenario, there are other options of course, including another placing.

17 - 19, that's more like it.

Looks like window dressing to me. Wonder if anyone's been spotted out shopping??

RCF reduced from £200m to £150m & £50m of that is not currently drawn. Thought the market might have responded positively but still stuck in this rut unfortunately. Keep smiling & banking the dividend!

Wind-down always looked like the worst possible option for this lot, and nearly 3 years down the line our money is just being frittered away. I hope those who voted in favour will take note and think very carefully next time they have a decision to make, I've never seen a good managed wind-down from a shareholder perspective yet! Just keep collecting the dividend and wait for things to improve. If they don't, well at least you gave it a chance. This vote left us with no chance of getting our money back, end of.

Lol

Think you mean pumpy pumpy.

And the other half?

Every bit as bad as the SP decline foretold. Hopefully will have benefited a bit from the recent bounce although clearly a long way to go here to recover credibility. At the risk of triggering another false dawn, could this finally be the bottom here?

Just noticed I'm £6k up financial ytd. That means you must be up c. £75k ws. Getting pretty close to my break-even point too. Things beginning to look up? Not likely lol.

So says this week's Shares Magazine, highlighting the benefits of scale following last year's acquisitions.

"Analysts Justin Bates and Portia Patel at Cannacord are forecasting 30% cumulative earnings per share growth over this year and next year, underpinned by the group’s ‘material’ recurring revenue streams which as they point out mean profits are more stable and less cyclical than the market appreciates."