Member Info for Metamorphosis84

Daniel, he clearly just wants to shut you down. The fella is like some sort of special constable trying to police not just what is said on this board, but who is saying it. His basic argument is that because you aren't invested with a long position, you have no business posting on this board. Which is ironic, as he doesn't have a long position either. He has spent all week being rude to me and others, berating and bullying, threatening to report and so on and so forth without actually contributing anything of value.

"Pearls, Lets have a look at your suggestions. - First the HoF �90m write-off. Based on an assumption that HoF without DEB is entirely worthless, i.e. have a future value of �0. What's your evidence for that? - To buy DEB before next Thursday, MA would have to offer at least 22p for all the outstanding shares he does not already own. That costs �190m. I'll take your word that he's already spent �150m on DEB. Then there is �200m to repay the bondholders. So he's going to pay �540m (190+150+200) to control a business the market valued on Friday at not even �20m?" DC, you are utterly wasting your time, I tried explaining this yesterday. The fellas a wind up merchant and he's reeled you in. No one can be that stupid and still able to use a computer.

Sorry think you have got a bit confused here? No one has robbed anyone of money, the shareholders voted for the company to go into administration.

It really is not a puzzle at all.

Because as you well know, they have burned through the cash already and are now back cap in hand for even more cash.

Change the record Nigel bore off

Smart motorways, HS2 all running behind, I would say not operating too fantastic. What concerns me is that they are saying all will be good in the second half of the year. But we don't know how they are doing in the first quarter, and the record of meeting expectations- not good. When this was 500 on Tuesday, it was a very very obvious short.

Hi Greatest Maze, in the interests of constructive engagement, I'll answer a couple of your questions:

"Can BoD really torch the house just to keep MA away? "

Yes, i call it salt the earth, but torch the house is apt. The problem is that the lenders have the greater claim to the business. So at the moment they are pulling the levers.

"Will commmon sense not creep in from some quarter at some point?"

Again, the lenders probably see it as common sense that they have lent millions out and as the repayment has been so poor, they want collateral for lending even more.

"Can MA Match £200M"
Yes, but what other terms does he want? Why would the lenders get rid of the current Bod when they have them dancing to their tune. The Bod are proxies for the lenders. MA will not be as compliant.

"My biggest fear here is that all this revolves around just one man and his intentions, MA"

"This fight is now a personal thing and pride"

Agree. And people do really silly things in the name of pride.

Agree

"It is like legal theft."

Kind of like taking out a loan and never paying it back.

I guess the only words there that don't need explaining to you are "the" and "and". It could not be any clearer.

A successful consent solicitation would allow the company to enter into new money facilities and give Debenhams the ability to pursue restructuring options to secure the future of the business. However, certain of these options - if they materialise - would result in no equity value for the company's current shareholders.

". Many shareholders have sold out due to their comments but that position of no value for shareholders is where the bondholders don't support the new facility."

Calling BS on that statement. Either you are deliberately making an infactual statement or are unable to grasp-

Read it again.

Yeah well anyone suckered by that sort of gibberish get what they deserve.
I can credit the comedy film Billy Madison for the following:

"What you've just said is one of the most insanely idiotic things I have ever heard. At no point in your rambling, incoherent response were you even close to anything that could be considered a rational thougt. Everyone in this room is now dumber for having listened to it."

And I use the word naive advisedly.

"I don't even know why I'm giving you the time of day."
Honestly Daniel, I have concluded that this character must be a wind up or an experiment of some sort? No one can possibly be this naive.

"The extra money required for MA to make a winning bid is not large for someone as wealthy as him"

There is a reason he as wealthy as he is and paying £300m for a company with a £22m mcap is not one of them. Your suggestion that he is going to do that is totally fanciful.

You really really think that in order to defend a 150m position, MA would be prepared to splash out a further £300m? In a company who ebitda at March 18 was £103m with a profit of 13.5m? It would take two decades for him to make his money back.

There is a deal, its been made and agreed with the lenders, they agree to lend a further £200m and as security they get to own Debenhams.
If the deal doesn't get passed, no £200m, the company will likely go into pre pack administration with the lenders owning the business.
That is the deal.

Fake news - code 1

Fake news 1 share trade.