Member Info for loganair

Budget airline giants EasyJet could be interested in purchasing Devon firm Flybe.

The Exeter-based airline has recently been put up for sale.

And it is believed EasyJet may be on the verge of buying the firm

A spokesman for the airline said: "We've always said that we will play a role in consolidation where it makes sense.

"We evaluate all opportunities as they arise and have no further comment to make.”

As far as I can see Flybe's largest Share holder Aberforth has sold nearly 11m of the shares it held reducing its holding by 35%.

Standlib has sold 32% and Standard Life have sold 83% of their respective holdings in Flybe.

Stobart were not willing to pay 50p a few months ago, that's why they pulled out because Flybe were asking too much. If Stobart can now pick up Flybe for 10p why would they want to pay any more.

Sunday - 30p, no way....at best can hope for 10p

EasyJet is to reveal annual profits surging by up to 42% on Tuesday with the low budget airline brushing off strike action and gaining from the troubles beset by rivals.

Numis forecasts easyJet to report a profit of £575 million against a profit of £408 million the previous year, on revenue of £5.05 billion.

Last month, the company submitted a revised bid in response to the new Italian government’s sales process for Alitalia, which was placed into special administration last year.

EasyJet is also considering making a bid for rival Flybe, which recently put itself up for sale.

I think if any airline bids for Flybe at best it will be at the current share price of around 10p.

Maybe £20m + debt.

Stobart currently operate 16 ATRs and 1 ERJ-190 with a further 2 on order.

Flybe do not operate to the Isle of Man as such as all Flybe and Aer Lingus flights are operated by Stobart on their ATR72 to Liverpool and Manchester on behalf of Flybe and Dublin for Aer Lingus. The Liverpool, Manchester Stobart ATRs and Loganair Saab on behalf of BA to London City over night on the Island.

Money also received

The new supply link-up between Morrisons and 1,300 convenience stores operated by McColl’s has been completed three months ahead of schedule.

Fresh and ambient products, including branded lines and 400 Safeway own-label products, are now being distributed to all the chain’s outlets – apart from 300 outlets served by Nisa.

Jonathan Miller, chief executive of McColl’s, said: “The accelerated roll-out was a great achievement by both the McColl’s and Morrisons teams, and it enables us to move through the second half of the year with a progressively stronger, simpler and more secure supply chain.

“We are particularly excited by the relaunch of the Safeway brand and early feedback has been excellent, with customers benefiting from the higher quality and competitiveness of the fresh and ambient products available. Looking ahead, we will now focus on firmly establishing Safeway with our customers as well as exploring opportunities to develop the range further.”

Following the introduction of Safeway brands, the convenience retailer has increased sales of free-range eggs by 48% while own-label minced beef volume is up 68%.

The supply rollout to 1,300 outlets started in January 2018 and was scheduled to be completed by the end of November. A further 300 McColl’s outlets were bought from the Co-op in 2017 and will be supplied by Nisa until 2020.

If the resolution is passed CREST accounts will be credited with the proceeds due under the Tender Offer, cheques despatched for Ordinary Shares to non-CREST holders, pursuant to the Tender Offer, at the latest on 10 September 2018 and the 117,958,855 Tender Offer Shares cancelled, following which the Company would have 122,454,564 shares in issue and options and warrants over 54,480,000 shares.

One can put all their shares forward in the offering and if less then 50% of all shares in issue have been put in then there is a good chance that 100% of a PI's shares can be sold in the Tender Offer.

I have had a long chat with Zincox who say the reason for the Tender Offer is that when they spoke with share holders, the share holders said that as Zincox are not doing any thing with their spare cash to return it to the share holders.

Zincox also said that if their current operations come to fruition then there is a high likelihood that they will re-list on AIM however if come to nothing then the company may disappear altogether and any remaining shares will be valued at Zero.

It seems to me what is on offer is to either take the 2.5p and run or hold out for 18 months with the possibility of a re-listing and for the small share holder getting most if not all their money back or if bought in at a low enough price to actually make a profit or for Zincox to disappear altogether and getting nothing for ones shares.

Whilst the Directors have reserved their right to participate in the Tender Offer at their individual discretion I can inform you that Management and those involved with the running of the Company who hold, in aggregate, approximately 24 million Ordinary Shares (representing approximately 10 per cent. of the Company’s existing issued share capital) intend to tender over 50 per cent. of their Ordinary Shares.

I am in the same boat as many of the rest of you.

What happens to any shares we do not sell, are any of the 3 major share holders selling or do they know something we don't and in the long term maybe more profitable for the average PI to hold on to their shares rather then sell?

Is this offer to buy, basically Zincox trying to reduce the number of small share holders, thereby making things far easier for the company going forward as the chances are the average small share holder will be able to sell out completely.

2.5p represents 38% of my average price, in this respect I'm not as badly off as many other investors.