Member Info for Medjed

Where does the £1.5m per week loss figure come from?

Reported loss end of Jan 2024 for previous year was £25.3m, projected forward that equates to £0.48m per week.

Alternative reading. Founder has failed to get cash to buy out company, and is desperate to take it private before someone else grabs it and he loses it forever.

Looks like a desperate last ditch attempt for the founder to take get it for himself.

Garydav

Watch out for this shorter! Which other sane person posts dozens of posts per day on a stock they are not invested in and claim to have no position in (ie short)?

Whenever you see this type of behaviour be weary. Is he a good samaritan here to ‘save’ people? Don’t make me laugh.

And if he turns out to be right (eventually) even a broken clock is tight twice per day.

Filtered!

You talk a load of rubbish yourself Gary.

Why not be honest and post all the facts. Debenhams had £720m debt at the time almost 60% of their turnover.

Superdry’s debt is a mere 5% of turnover.

Ted Baker, didn’t they get bought out for £211m when their turnover was £428m?

That’s 4 months after they rejected a bid for £250m.

What was their debt at the time?

Obviously its not quite like-for-like as times have changed. Still seems ridiculous for Superdry to go for 10 times less!

Who cares if it doesn’t open in the 20’s’

Question is what will it be just a few hours, and days later. I bet you it want be 10p or below ;)

Giant banks aren’t known for losing million, on the contrary they always win.

HSBC own 17%?

Maybe there is hope in there yet in that case. JD would have to convince them of any discounted offer or he would likely lose the vote if they vote against him.

There will be a stampede to exit on open, that’s inevitable. What happens after that will be interesting. Most similar situations I have seen bounce by a substantial amount from the first hour lows. Just look at HUM for a recent example, similar thing terrible RNS, bounced back 50% from open lows, even if it heads back down after that.

What a cynical move by JD, trying to scare the market with a placing when the company has just secured £20 million worth of funding almost the current mcap.

I hope no one falls for it. Sp should not fall below 10p for long.

Agree with zstar’s analysis.

I bet shareholders would even see an offer from Next at around 30p as a Godsend compared to JD’s pathetic greedy offer. And he’d richly deserve it.

Hopefully a little dead cat bounce after the initial open drop may allow some to get out at less of a loss.

A stop loss on open may give you the very bottom of the cliff price on open so may not be the best option?

Anyone know the figure for the stalking horse bid?

He can offer less anyway, anytime by staying below the 30% threshold.

Its already 79p, because 01/03/2023 is already more than 12 months ago. So May 2023 purchase is the price.

Just tried on IG. No quote to buy for 10k, can buy 5k shares. Can sell whole lot.

Has the stalking horse bid been published?

If I understood correctly the deadline was 23 March?

The problem I fear is that all these oil giants are cut-throat. They don’t care what Copl’s true value is they are going to get it for the lowest price possible.

And perhaps that was the plan all along.

My prediction is if we do see a return from the sale, it will be just a million or two to share between the shareholders.

Just scanning through, on p26 it says

“65. As at September 30, 2023, COPL had combined total assets with a book value of approximately $114,829,000”

It would be good if they could get a sale for at least that price. Further down on p30 the total debt is $78m, plus if they max out the $11m new loan facility total debt would be around $90m

Probably wishful thinking and overly simplistic, that could leave around $25m for shareholders?

That could equate to a sp of around 0.5p

Nick, fair enough. I think you’re right they made loads on shorting and bonds.

It is still curious they held onto 20% into suspension. With all their other dodgy insider trading I would have expected them to dump everything they had.

I am sure they knew what was coming.