Member Info for mick-b

Turkish pension fund NOW preferred bidder for BS plant. £1B to invest and £300m from Government
Wants to move to gas so you can breath clear air up there, for a change.
Sounds good to me.
Doubt it's an asset stripper.
Early days though but will secure jobs for friends and nephews of yours...

The U.S. Trade Representative said Tuesday that it will delay applying additional tariffs on China-made goods until December, just minutes after China said it held telephone talks with officials in Washington.

The USTR said it will delay tariffs on several items in the basket of $300 billion in consumer goods that are made in China and sold in the United States, which were set to rise to 10% on September 1, until at least December 15. Cell phones, video game consoles, certain toys and footwear will get the short term exemption, the USTR said,

That's another great idea to add to LANGTRO's
Adding our own tribute posts on his beloved anti board that his son will see
Cheers m8ty

PlayerOne (Inner-Hamony) last posted on the 6th GUV
https://www.lse.co.uk/profiles/PlayerOne/

Thomas Cook (LON:TCG)
Share price: 8.1p (-16%)
No. of shares: 1536 million
Market cap: £124 million
Proposed recapitalisation - progress update

Thomas Cook announces an update on its recapitalisation.

It contains little that is new, but gives us a target of early October for implementation.

The upcoming dilution is the main event for shareholders:

...the proposed recapitalisation will require a reorganisation of the ownership of the Tour Operator and Airline businesses which would result in a significant amount of the Group's external bank debt (£650 million) and bond debt (€1.15bn) being converted into equity, resulting in a substantial deleveraging of the Group. Existing shareholders are therefore expected to be significantly diluted as part of the recapitalisation, although they may be given the opportunity to participate in the recapitalisation...
This stock is a bulletin board favourite, attracting hundreds of posts every day.

Recently, there has been excitement over share purchases by some foreign investors: well-known travel entrepreneur Neset Kockar owns at least 8% of the company, while the unknown "Rodionova Lilia" from Russia owns about 3.5%.

It's unfathomable to me why these individuals would get involved in a situation where they are likely to get diluted to smithereens, but they may have tactical reasons: shareholders will be able to vote on the recapitalisation proposal, presumably? Perhaps these new investors think that their ability to delay or influence the terms of the recapitalisation will have some value.

While the involvement of these individuals does suggest some speculative value in TCG shares, the outcome remains highly uncertain.

We can look back at the recent case of Mike Ashley and Debenhams to remind us that just because a wealthy, knowledgeable businessperson is buying into a company which they should understand well, this does not mean that the shares will ultimately prove to be worth very much.

Apart from those investors with some special insight into how the recapitalisation might proceed, TCG shares are best avoided. For gamblers and traders only.

That's a good ideal
Our small way of a tribute to an amazing man
ATB

Memories ...
https://www.lse.co.uk/profiles/deadcatsbounce/
ATVB buddy...

Hi all,

For those who are interested, dad’s Funeral will be held on the 27th of this month at St Nicolas’s church in Brockenhurst, Hampshire. The service will commence at 12 midday. A celebration afterwards at 13:30 will be at The Balmer Lawn Hotel also in Brockenhurst.

Please do not feel obligated to attend. I know it’s quite far to go for most people and of course during the week will also prevent some from attending. It’s just in case anyone had a wish to come.

Please feel free to contact me privately if you prefer to do so. You can reach me at stevenwaterman1 Which is a gmail account.

Please also feel free to share the above info on any other group that dad was part of. I know he had his fingers in a few pies ;)

Thank you all.

YES RetiredBanker that's what the Tanzanian Government did before..
EXTRACT from todays interim report

The Company's most recent VAT refund was received in November 2017 and amounted to US$3.4 m, comprising US$1.9 m offset against corporate taxes payable in 2016 and 2017 and a cash payment to the Company of US$1.5 m.

https://www.bullionvault.com/gold-price-chart.do

The potential bidders of FLYBE (Stobart and Virgin) formed a new company (a consortium) and bid and bought FLYBE for a penny.
EVERYBODY and his dog thought a bid of 30/40/50p was CERTAIN.

Why should bidders bid against each other when the company in the frame is desperate
TCG is DESPERATE imo
BEWARE I smell another scam to screw the shareholders....

Thanks Langtro

HOWEVER a consortium as a new entity can offer TCG whatever it likes...

Could be a consortium bid where any potential bidders agree between themselves on a silly nominal offer price.
e.g. FLYBE taken out with a consortium bid of just 1p
BEWARE of this,,,

Thomas Cook Group, down 15%. The cash-strapped travel operator said it is in talks to raise an additional GBP150 million on top of the previously announced GBP750 million, as part of a capital injection agreement with the company's largest shareholder Fosun Tourism Group, its core lending banks, and noteholders. Thomas Cook said shareholders will be "significantly diluted" by the funding plans, which involve the conversion of debt to equity. Thomas Cook said talks with noteholders, representing around 50% of 2022 and 2023 senior notes, included an additional GBP150 million cash injection

Best to filter then

What....like a contract hitman Bismarck.
:-)))))

On fair value accounting:

Burford does revalue cases upwards before they're settled. So it's booking profits ahead of settlement, which achieves a similar effect to capitalising costs - boosting profits ahead of cashflow.
This comes up so frequently as a criticism of Burford, but it seems to me it is a criticism of the IFRS 9 accounting standard rather than a criticism of Burford itself. The relevant question in my mind is why does Burford apply IFRS 9 for its investments whereas IMF Bentham apply the Australian equivalent of IFRS38 (intangible assets) and Litigation Capital Management (LON:LIT) applies IFRS 15 (contracts with customers)?

MW seem to have avoided successful litigation.
Only falling foul of failing to report shorts within the GERMAN time limit

https://en.wikipedia.org/wiki/Muddy_Waters_Research

CONCLUSION
MW seem well abled to look after themselves

I think it is arguable that Burford's choice of IFRS 9 is more in keeping with the spirit of what the accounting standard setters intended, even though that results in a less conservative form of accounting.

Labour plans to give shareholders Corporate BONDS for shares
Paying interest on the bonds. Bonds sold will be bought in the bond market as happens now
That reduces the cost of buying them