Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
You should e-mail the full board. They have a duty, even if JD doesn't the other should execute their fiduciary duty.
I think JD purposely spoiled the well with the comment about the material discount and delisting fear. I wonder if the board watered down his original comment or printed it in full and I wonder how they feel about it.
The best thing Superdry can do is officially put itself up for sale and start taking bids. Who knows they might be able to salvage a bid double or triple of the current market cap.
He couldn’t get the backing to take it private and he can’t afford to do it alone. So now he’s looking at what he can afford and that’s restructuring and trying to pick out the best parts and jump out of leases. Whether the board and existing shareholders will let him is another matter.
The latest statement sounds colloquial for JD wanting to take it private for a £1. I wonder if he’s poisoned the well by doing the IP sales in foreign markets to make it messy for Fraser or other possible acquirers.
We know there's a strong connection for JD and he doesn't want to lose it. But he can offer whatever he likes. If it's too low then it might fail to get voted through.
In all fairness, there's still value in Superdry if they streamline the size, so much bloat at this point. And to be fair to JD he's trying but a tough trading period but we have the glimmers of light appearing now.
I'm not employed by anyone to post here and I'm not overly negative on the bank, I would like it to succeed but I'm also realistic about it. Talking of which...
"We were pleased to return to profit on a statutory basis"
I bet the debt holders were not happy with the haircut that contributed to Metro Bank achieving this.
"‘Folds into one of the bigger banks’… a possibility with a decent offer"
Keeping a bank from failing even if it wipes out shareholders is "a decent offer" to regulators and political parties.
We're some way off that but it can't be more of the same.
Galinski purchased near 10% for a steep premium so there was a belief that it can work and it all looked good if Metro Bank could convince the regulator to approve AIRB.
Not only did they fail that, but they also caused a panic by announcing they need to work on the AIRB application when they had not even had the official confirmation in writing. The next potential catalysts for the share price recovery are
- New CEO
- Sale of the Mortgage book to reposition as a specialist lender like Shawbrook
- AIRB application approval
- Easing of capital regulations for smaller banks
Then again nothing could happen and it folds into one of the bigger Banks with regulatory concessions.