The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
GGG, though I agree that Karl's post was utter dross, kindly refrain from making such comments. This is a public BB and nobody can know another person's personal circumstances or state of mind. Let's keep it friendly please.
Thanks for the feedback, his presence does to an extent make me want to fold. However, I believe in the turnaround plan and feel that there is real long-term value here, given time. If only we can hold the leaches at bay for long enough......
Going Concern
After considering forecasts, sensitivities and mitigating actions available to management and having regard to risks and uncertainties, the Directors have a reasonable expectation that the Group has adequate resources to continue to operate within its borrowing facilities and covenants for a period of at least 12 months from the date of signing the financial statements. However, particularly given the requirement to refinance existing unsecured facilities which expire in February 2024, but also due to the prevailing uncertainty concerning sales and cost inflation, the Directors have concluded that a material uncertainty exists which may cast significant doubt over the Group's ability to trade as a going concern, in which case it may be unable to realise its assets and discharge its liabilities in the normal course of business.
Accordingly, the financial statements continue to be prepared on the going concern basis but with material uncertainty on the Group's compliance with financial covenants and its liquidity. Full details are included in Note 1.
Likewise, my MCLS shares are still present on my HSDL account with a value which is really frustrating, just want shot of them now. I called HSDL and they were really unhelpful, and offered no clue as to when they will be removed.
This is McColls all over again.
I've been watching this from afar for the last few months, having been stung very badly by the demise of McColls. The similarities are blindingly obvious! If I were invested here and thankfully I'm not, I'd be taking my 1.7p and running for the hills, it's better than nowt.
I feel for all lth here. It's atrocious how shareholders get screwed over like this, but thems the risks.....
Good on you Mailgirl. I second your sentiment and I'm sure Neil will appreciate it also. There is no need for all this hating and bitterness. Many people will be hurting here today, myself included. Being a lth, I didn't really feel that I had a way out, so was holding regardless, but with hindsight I wish I had listened and taken my 85% loss on the chin, which sounds quite appealing now!!!
It's done and dusted now so let's all just live in harmony. If you want to fight, nip over to ADVFN and play with blueballs.
Vine, I totally agree, something fishy is going on here! We know that the business is in trouble, it's been run into the ground for several years with an inflated share price and dividends being paid whilst the assets have been stripped bare. Corruption to the core. Add to that Covid, the collapse of Palmer & Harvey, driver shortages, supply chain issues etc etc etc.....
However, if you look at the footprint as a blank canvass alone, this is hugely valuable to Morrison's and within the next 2 years should be turning significant profits. My belief is that Morrisons will take this, no question, it's just a matter of how?
I'm not happy, but I'm sitting on my shares regardless!