Member Info for Metamorphosis84

Woodford is welcome to these....

Now dropped below the low when the shennanigans were taking place before Christmas. Heading toward levels not seen for nearly 2 decades!
Will this be sub 300 by time the new fella takes over?

Market obviously doesn't like this news. Looking at 565 for support now. Doldrums, as I say an unloved sector right now.

"FFS this thread is infested with posters who have no intention of holding"
Why the hell would they hold when there are 40% plus profits to be made?!?!
Once again, you are trying to police this board, now its only those who want to buy and hold (or 'thinking' about it, so as you don't exclude yourself) that you think should be allowed to post. Its pathetic.

"later in the day stated a COMPELLING OFFER for shareholders. " Ooh what a tease, that could be anything between 0.01 and ten zillion!

Redbus, can SPD do that? Announce via an RNS that they are considering a buy out and then dump the shares?

Well stranger things have happened.... but I am not getting excited even if its entertaining watching others......
Consent solicitation up on the 28th, I think that has more significance than the 'RNS'ing' out loud that is taking place

I would have thought around 24p would be the ceiling, that would make a 1500% increase. But momentum does funny things, if it went up to 5000% then there is a complication as bidders would have to start upping their offers.

I can well believe 100% tomorrow, lots of piling in and lots of profit taking too and why not!
That is without a short squeeze.
Throw that in the mix, if the shorters think this has got legs and an offer may be made in the 20s, then they could be closing up, especially, some of those shorts were at 10p, plus! So we could see in increase in the 1000%s. Hmm will be interesting to see the shorts response, very interesting.

My belly is perfectly full, thanks! Interesting days ahead my friend

How much is he offering?

"I would expect Debs to invite MA in for talks to find a way forward,"

Chat it over a cup of tea and a piece of cake maybe. Thing is there is a way forward, the lenders way forward....

"Right to be involved or make an offer to help save the company."

They have made offers, as is their right and they have been rejected, as is the BODs right.

"Or do you think the current bod's can have talk with lenders and come to some sort of agreement without even talking it through with the biggest single shareholder. "

Absolutely they can! And probably have done so too.

"NO bod's would ever get that through an EGM which will have to happen"

Tend to agree, less than a fortnight ago IRV tried to get an unpopular deleveraging plan through at an EGM. It failed (45% of shareholders couldn't be arsed to vote) so they went into pre pack administration instead.

Fwiw, I stand by what I said last week (you know, when MA was the big baddie in all of this), the BOD should resign their positions and let MA be in charge to sort it out. Problem is, that just isn't going to happen.

What could they respond with? "You don't like our deal? So what?" Or just a shrug of the shoulders?

Thats for the CMA to decide. How long has it taken them to adjudicate on Asda/Sainsbury?

"They are not acting in the best interest of shareholders" I see this statement or variations of are going to be repeated time and time again now. The problem is that the BOD have a legal requirement to trade solvent and in order to trade solvent they have to ensure that the lenders keep the credit flow open. Ergo the shareholders get nothing if the lenders pull the plug.

"What sort of offer would involve asking shareholders what they want ?"

Because the shareholders would likely come back with proposals that contain "obvious concerns"

Yeah, think I'm going to climb into the lion enclosure at the zoo and tell then that eating me isn't a "workable solution". See how that works out.

**correction it was not an AGM, but a General Meeting

A bit more information, results of the AGM were

9022116 votes cast
For 36,651,023 - 40.6%
Against 53,571,093 - 59.38%
Witheld 52,831 - 0.06%
Voted for Trump - Unknown

When taking into account all shares in circulation:

Shares in circulation 161,274,128

For 36,651,023 - 22.7%
Against 53,571,093 - 33.2%
Witheld 52,831 - 0.03%
Votes not cast 709,991,181 - 44%
Voted for Trump - Unknown

The choice given was binary, accept 5% dilution or go into pre pack administration.

Rns basically says "Sports Direct aren't happy with the BOD plan" No doubt the response will be along the lines on "so what?" I suspect SPD are trying to build up some sort of legal case.

90222116 votes cast from a circulation of 161274128. So around 55% participation.
And I will post where the hell I like.