Member Info for Metamorphosis84

Bill, will Coltrane push for a better deal? They would have to refinance the balance sheet somehow. Maybe they could use fund raised by shorting Carillion into oblivion (funny how these were the bad guys year ago isnt it) but they would still need to offer the banks something.

So are we going to see 30p today or what?

https://www.thisismoney.co.uk/money/markets/article-6673097/Interserve-secures-deal-prevent-Carillion-style-collapse.html "One of the firm's existing shareholders, the New York hedge fund Coltrane, which owns around 15 per cent of the company, has reacted angrily to the deal and has called for several directors to be removed from the company's board and install David Frauman and Stuart Ross in their stead. "

I think you're right HH. Quite low volume as well. I remember Deb shooting up about 20% from something like 7p about three months ago, exciting for those who can get in- and out.

Babbler they knew better though didnt they? Including wind up merchants here this week predicting 30p after d4e.

They were warned.

97.5% - wow

Bill, I do take your point. Meet the new boss , same as the old boss.
Maybe they would try to pull a rights issue to pay the fine?
Forgive me for the gallows humour.

Bill, in the scenario that you describe (IRV reimbursing the shareholder under FCA instructions) where would they get the money from to do so?

From BBC

"Interserve: Government ‘supportive’
Following the Financial Times’ report earlier that government contractor Interserve is on the brink of a Carillion-style collapse we were expecting some clarification about what’s going on.

Here’s what a Cabinet Office spokesperson says:“We are supportive of Interserve finding a refinancing deal with its owners that allows it to continue to deliver good value public services for the taxpayer and that brings the company the stability required to be able to compete for future business.”

Err... that’s it."

BBC reporting that HMG may soon release a statement "clarifying points in FT article". More likely to come from HMG as the BOD seem to be spectators now.

PMQs tomorrow, a nice open goal for Mr Corbyn.

The valuation of -50p per share is looking very generous right now.

Last ditch. Doesn't sound good. When the FT ran the story which resulted in an RNS acknowledging that shareholder dilution would take place in December, the debt stood at 650m. The board said details of de leveraging in 'early 2019'. Well two months on, has the debt grown or shrank? Only 1 efw plant has come online. Again, I really do wonder what working capital this company has to continue trading. "It’s a bit like Brexit. No one wants no-deal on the table but no one can agree and the company is running out of road" I think the word "road" could be replaced with "cash"

If the news reports are to believed and 300m is going to be raised through debt for equity, the bondholders would own the vast majority of voting rights.

How easy would it be for them to then de list from LSE?

This would mean that the remaining 350m debt could be handled without the need for obligations to the stock market to be met.

Could be difficult for them sell large volumes into the market.

Very strong, excellent dividend, paid quarterly, good cash flow, possibility of trading peaks and troughs.
What more could you want from a share?

21 trades so far today pretty much sums how attractive this share is right now.

Ha ha you can say people are spouting nonsense and call them jokers, whatever, they are doing much better than anyone who bought this share for more than 12p!

Still no news, what will February bring?
More info on D4E? Maybe another Efw plant finally on line? FCA investigation outcome?
Who knows, this time next month this share could be 30p?

Some early contenders for the Didn't Happen of the Year Awards 2019