Member Info for mbingo

Does anyone know the actual equity interest of the Founder John Van Kuffeler? / Other Board members?

I've picked up more - just too cheap here.

Think the potential upside from here is large at £36m Cap. Buoyed by positive cash flow of £3m in April. Strong board. Refinancing the debt with new £200m securitisation facility mid-March removes risk - good timing. Less risk if you wait for the financials, but read enough to buy some at these levels.

Raise was at 85p

It's so cheap at this level - £2.5m cap ish. Only takes a large stone for sentiment to turn quickly.

Does seem to be stuck at this level - must be a large buyer + seller exchanging at 83p mark. Should be well positioned to capitalise once the government sees sense and opens up the economy.

Interest is 6.04% (not 6.4%) - meaningful though - and interesting that they took advantage before placing. Shows demand is there from institutions!!

Leucadia Investment Management Limited with 6.4% - great to see! and JP Morgan increasing too it seems (or playing it). 2nd part placing needs to be firmed up and holders will get out of the current range and beyond 32p towards the 40s. New cornerstone investor and IKO. Will be very well capitalised and positioned to succeed over medium term. Enterprise value versus sales makes a mockery of current market capitalisation.

Cash flow positive in April. Comforted re debt by the fact that we don’t have a credit crisis. Supportive governments/ economies.

Couple of institutions selling down - allowing for a cheap entry. £90m market cap. 25% ish dividend at this level had the final dividend been paid. Refinancing the debt due April 2021 the challenge, but the equity has been marked down to ridiculous levels surely..

CD&R are a major PE outfit, a massive endorsement of the company. Await the detail, expect some volatility, but ultimately, they are positioning as they see value and want to be long-term partners. Think an exciting development for shareholders. Who knows how the price action will develop, but should be a positive mid-term.

CEO has 1.2m shares (and restricted stock/options) all at a higher level. Last 200k buy at 49p, but noted another 200k but at 103p. Right at the bottom of the 5 year chart. Much of the hard work been done to establish itself, looks a bargain at these levels.

Final dividend for 2019 was cut to preserve cash, but plan was for full year 2019 dividend to total 12.4p , which at today's share price is more than 25%. New purchase today, think this has legs!

Surely minimum 40p/share - £40m Cap.

End of June for sale of a business where directors / board have lots of equity. That's not long to wait! Priced at £20m with over 50% cash and energy prices recovering. Seems really cheap!!!! "It is the Board's current intention to complete the strategic review by the end of June 2020 and further announcements regarding timings for the formal sale process will be made when appropriate. "

Uk will have to come out of lockdown soon, we are way more cautious that many of our European peers. The data suggests that Covid is not as bad / dying. This sector has been battered. SIG has not bounced properly from the lows and is well capitalised. Sector re-opening. Will accelerate imo. Positioned.

Yep, Pure speculation. Sure that they could take on debt if they really need - it is available. No need for an equity raise..

They have £142m cash. No need to raise funds.

Personally think the share price is a bargain at these levels. Having sold some at 31.5p from original buys 18-20.5p, re-bought all in the 23-26 region. Market is forward looking. Most of Europe is out of lockdown, the UK is being more cautious, but I think this changes. Couple of institutions have continued selling otherwise this would be back in the 40s. I fully expect this to recover and look forward to the financials.

Don’t think 50% unrealistic for May and I would think June at 90\95%.

From last operational update:
UK:
“The Group is currently planning for the majority of its sites to be open by mid-May.

Europe update

In France, all our sites are open and trading has gradually increased during April as French Government guidelines have encouraged more of our customers to resume trade.

We have remained open in most of our other countries of operation and trading has continued on a near-to-normal basis in Germany, Holland and Poland, all within local government guidelines in each country.



In Ireland we have followed strict Government instructions and remain closed, except for a small number of sites supporting critical and emergency projects. As in the UK, we are currently planning for the majority of Irish sites to be open by mid-May.”