Member Info for Metamorphosis84

That is a possibility.

Ouch, I guess they aren't interested in participating in any of these boardroom wranglings?

This is only the second time i have posted on this board. The first time, 26th March 2018 at around 300p i had this to say: "Would be vary wary of this share. Feels very much like 2007/08 again." Hmm. Very much reflecting on that thought.

It looks as though Coltrane are posturing to challenge the proposed deal in some way. A salt the earth strategy, unless they have 66m to stump up plus the rest of the debt due. Everyone loses if they go bang: Shareholders, obviously get nothing Lenders, get nothing (but at least they get to stop throwing good money at the bad) Board get nothing, but their pay and bonuses already paid, should soften the blow. Sadly the employees and suppliers get the worst deal, which should forever stay on the consciences of those involved, including shareholders intent on blocking the only deal that could keep the company going.

Justification is that in the UK we have a free market, capitalist system.

I really want to see the lid on Aberdeen, it is the only thing holding this share back in my view.

Oh please, I said it a while ago to one of your sock puppet pals (can't remember which one) You don't get to set the rules and then demand that I play by them. I don't care whether you judge mine or anyone elses posts as intelligent, Mr Joined This Bulletin Board 2 And A Bit Months Ago. Have a good weekend everyone

Ha ha in a way I miss the days of 'shorts are getting nervous, gonna close soon' and 'this will be [insert outlandish share price, usually 80p] by [insert date of next public holiday] One thing we do know is that any hope of a short squeeze are completely trashed.

Has dipped under 11p for the first time in a while.

Shorts closing? Or PI's fleeing? Or something else?

If you were to believe the double speak of accountants and construction companies, 'exceptional' losses, 'outstanding' payments and such like, you would think that baskets like this were doing very nicely, thank you very much. And then little tricks like amortisation, 'yeah we haven't got a pot to p*** in, but we do have lots of good will' Who believes this nonsense? Cash is king always has been, always will be and it doesn't look as though IRV have any. We will soon see when they publish their results. April?

I wonder if any more news will come out of this leaky ship today or are they having the weekend off?

Mayve Coltrane are bluffing as well?

Its going to be awkward explaining to some NYC pensioners that they have lost 97.5% of their investment buying magic beans. Even more if its the lot.

If they have the money, why are they unable to meet the £50m that is due now, Feb 19?

Standing in the red corner and punching themselves in the face

Its beginning to look like a PT Barnum caper now.

This has turned into something of a Mexican Standoff. But its a different sort of standoff, one where everybody stands in the saloon with a gun to their own head and threatens to pull the trigger if they don't get what they want.

Interesting https://news.sky.com/story/interserve-faces-debt-bombshell-over-hedge-fund-coup-11637210 I wonder how deep Coltranes pockets are? Anyone remember that Doomsday Machine in Dr Strangelove?

Sorry mcap 15m

Lenders don't make a profit if they have lent out £755m and only get £300m back, plus 50% of a company with a market cap of £75m

So there are 3 maybe 4 plans all of which have their flaws: Plan A, The Interserve plan, dilute existing shareholders to pay down a huge amount of debt, handover to the lenders in order to continue trading. Pros. Solves the debt problem. Keeps IRV solvent. Cons. Might not get through Plan B, The Interserve back up plan, push through some sort of deal through anyway. Pros. We dont know know because it could just be a bluff. Cons. Could just be a bluff. Plan C The Coltrane/Farringdon Plan, sack the board then see what happens. Pros. Some satisfaction that Board members are removed (maybe with a golden goodbye) Cons. Doesn't solve the debt problem. Irv could end up trading insolvent. Lenders may decide not to continue lending if they don't get their way. Plan D The PI shareholder plan, go ahead with D4E but on a 50/50 basis. Pros. Gets some of the debt down. Doesn't damage PI shareholders as badly. Cons. Lenders may not support a deal to continue lending to a company with junk credit status and the deal falls through. Whatever happens, looks like mid march before anyone makes there next move? With the debt increasing by a rate of £12.5m per month (at least between November and February), the total debt may be somewhere around £767.5m. The debt may build up at such a rate and start running away to the point where nobody on any side can get a deal through.