Member Info for Metamorphosis84

Ironic that one of the reasons for the RI is banks tightening up of lending facilities to construction, but it looks as though HSBC and Santander as bookrunners are going to end up lumbered with RI shares.

Wow, the SP is only another 8% loss from being at the RI price, can't see many taking up rights. If the promised dividend isn't paid out, confidence will be shredded. This could unravel very quickly.

TG the biggest loser today. Both companies have halved in value since November. If the rate of decline continues and halves again in a month then it will be 12p by "early 2019". Carillion called it a day at 14.20. Fat lady warming up with some carols.

Sounds like a disgruntled ex employee.

I wonder what the SP will be when the BOD takes action to deleverage "early in 2019" and indeed what counts as "early"? March? I wonder how much they will have to set aside for advisors fees? All in hand I am sure.

Mushroom I think that is wise, this sector is being battered at the moment, see Kier today. Regarding Galliford specifically, I would want to see how they are going to pay for the Aberdeen Bypass overruns (or rather who is going pay for them) before opening any further long positions here.

Thanks for the prospectus Dar, unfortunately since then its shed another couple of quid including 6% today.

Same problem, high level of debt, but they are doing something about it earlier.
Interesting that some who are short here are long there.

Not sure what to make of it. Duke University, Farringdon, Blackwell and Bram Cornelisse all pop up in an article today in the Irish Times, where it is explained that they have built up a holding in the troubled publisher INM. https://www.irishtimes.com/business/media-and-marketing/duke-university-emerges-as-shareholder-in-inm Is this a boost of confidence which will see a good SP rise tomorrow or is something else going on here.

Duke University, this is an interesting one. At the end of the RNS it is stated:

"11. Additional information(xvi)
Shares are held via (1) Farringdon I - SICAV and (2) Blackwell Partners Series
A. Farringdon Capital Management is the delegated investment advisor
controlled 100% by Bram Cornelisse that can exercise the voting rights of the
two afore mentioned vehicles."

Is that the same Farringdon that reduced their holding earlier this week?

Sunk below a 5 year low, tick.
Divi trap, tick
BOD still get their bonuses sanctioned a month ago, tick.
See you at 430.

Preferred shares ha ha that will go down well with existing shareholders which piggy bank would they raid to guarantee coupons? Or do they take out another loan

"Two things will happen - firstly a renegotiation of current repayments with exiting lenders to a more palatable level. Secondly the will attract new non-dillutive investment - how......

"Now that the business has been trimmed down, EFW has nearly been closed, unprofitable contracts have been terminated, this is now an attractive cash generating business""
Oh so they will ask for free money and be given it.

Still positive about £1 by Xmas then ha ha

Goodness, Fate, where have you been, I thought you had disappeared forever or have you just been through a regeneration? I thought it was faileb (a new character in these parts) that had made that statement, not yourself. Anyways, welcome back.

Bill it is a good question. "The Board is working with its advisers to look at all options to deliver the optimum capital structure for the business to support its long-term, sustainable development. This process includes options to bring new capital into the business" That is what IRV said in their 3rd Q update last week. "Options to bring new capital into the business". So what are those options? If no RI, or Debt for Equity? What? As regards to SLA's ability to pick stocks, I would look to their own SP decline.

"The current SP factors in any possible dilution" That must be a relief to know, do you know what the dilution will be?

A massive sale of assets? Why would anyone want to buy the assets when the value of the entire company is worth less than a premier footballer? That ship has sailed.

Debbie White's evidence to the Public Accounts Committee 11th June 2018: Coltraine.... own about 27%... Farringdon Asset Management, a Dutch based organisation. It split into two funds recently, and they together own roughly 10%. The remaining 63% is held by retail investors......

Another of those seemingly iffy shares. Down 9% today on a broker forecast, up significantly last week, on a broker forecast. Will sell on the next peak and never return.