Member Info for Oi_Oi_Savaloy

Exactly. The one thing that kills price is time. And by that I mean running out of it. (usually it's to do with Option lengths and planning taking too long and running up against the long-stop date on your contract). But in this case it'll be the banks' timeframes. I'm surprised the share price has only gone to 20p. Thought it would go lower.

They'll have to - it's the only way to give buyers the confidence that there's value to whatever is left. Land values always have a diversion of values between seller and acquirer - they can't say to a buyer....'we've got a billion of worth in the land bank'....the buyer will naturally discount that value and then look at the very real debt......and.....it won't be pretty. So yes, better to sell and pay the debt down (to a manageable level?) and then sell. Hopefully....Perhaps. If we're lucky....

It's the debt, the breach of covenant (and the costs associated with the agreement), and what's left in the land bank once land sales have got that debt down. And importantly - are the people staying or being poached as we speak?

I could see an RSL coming in for it. They've got alot of money, tend to be not very good at single site acquisition (imo) and sometimes they also lack planning expertise. Buying INL, from that perspective makes sense....but the debt......

It's a truly shocking state of affairs.

That is a shocking announcement on so many levels I really don't know where to start......

On Drum and their investing rationale......I think there's some real distress incoming and we'll see some companies desperate for new investment or going to the wall and bargains being had......but they just need to bide their time.

Will look at Correro.....but my interest, at the moment, is in finding companies that are the next solution to electricity storage......crack that, in a properly viable manner (without using up rare-earth minerals) and it'll be a game-changer.....

So an American PE company (yet another one I've never heard of with Billions to play with) has come in for Darktrace. Perhaps there's hope for us, if there's PE money out there looking for more cyberspace companies to acquire? Let's pray for the share price to actually do something this millennia......

I think there's still a fundamental under-supply of new cars (due to the chip shortage, other parts on unavailability - look at the issues with Aston Martin for example).

Lookers have a cracking portfolio (my interest)....hopefully they'll do better deals from now on than that sale and lease-back jobby on Wandsworth.

More on this. I've paid for the land registry title/day notice of the site in question and it confirms that TW undertook a search with intent to purchase in July. My understanding is that the site was owned by both INL (as minor partners) and another company (whom had owned it for over 10 years as I understand it) and that INL did their planning expertise thing. So they took their respective % of the profit and got their planning consultancy fee too. Not sure when they will announce it but so far it all checks out. I don't have the numbers (sale value of the site/planning consultancy fee value) unfortunately. Land registry take 3 months to update things so I can't check that as it hasn't updated yet and the planning consultancy fee is v hard to guess (so many variables). But however you cut it, it's good news. I realise that alot of you think I've got a total downer on INL....but I really don't. I've been invested (and continue to be after a recent purchase) in INL for a v v long time. And I also continue to be invested in Energiser/Drumz too (back in the day Nish and Wicks were directors of Energiser).

I think INL are about to announce that they've sold a site (in Hitchin) to Taylor Wimpey. I'm not sure if Des himself bought the site or INL however. (I've just heard about it and I can't check Land registry). It'll be interesting to see if there's an RNS to come out later today or tomorrow perhaps.

Optimist; do you see the share price moving beyond 19p?

I'm not sure if they apportioned that £12mill when they announced it in Oct 2020 or whether it hits now (and reduces it to £84m as you say). I took the deal to be an unconditional exchange with a delayed completion hence me thinking that it's already been accounted for. Might be wrong however. Most probably wrong.

Agreed - all it will do is change the £96mill of debt to perhaps £95mill. Every little helps and all that. Or does it.

They need a new land sale announcement.......but I'm not sure they've got anything oven-ready that they can actually sell and that people want.

Yeah, the £4mill extra needed to complete one of their partnership housing contracts. How many housing contracts have they got I wonder? I bet that's why the MD went - he's got the list of them in front of him.....and he's looking at the next 12 months and just seeing hell on earth....thinks 'I'm out of here'.....And the construction director (because he'd be getting it in the absolute neck by the Board every day. Life really isn't worth it....so he went too. And that meant that key technical manager, whom left, started to be exposed to some of that vitriol.....so he went too.....

39p feels like the high-tide mark at the moment (whatever happens to the spike today no doubt) for the share price imo.

Others might see it differently - and see that 39p is the low water mark and that 50p is really where it's at. BUT they've still got £96mill of debt.....and I seriously think there are other cost over runs too elsewhere. Interested to hear others thoughts. I'm out of INL at the moment but it's the one share I monitor more closely than anything else. I want to be invested here...but not at the wrong price.

So Amigo want to lend out £35mill of their own money (at circa 30%-40% interest) before the capital raise......which equates to a gross income of £10mill in interest on that £35mill, before the capital raise which is interesting.

Secondly - the guarantor doesn't want to borrow any money - they are simply standing behind the loanee. It should be a good system (because the guarantor will have made a judgement call on the loanee prior to agreeing to stand as guarantor........one hopes. If nothing else they will have made a decision as to the trust-worthiness of the loanee......one seriously hopes).

If you can't borrow from the banks then sometimes this is the only way?

Fair enough RSI - as I say I'm not in the market or a financial guru - just a fella that's being following INL (and heavily invested, up until two weeks ago). I might have got it massively wrong and should not have sold. It'll be interesting to see which way this goes today and into next week.

Someone put in a massive 197,000 sale yesterday, close to the bell, selling into those chunky sales that came in right at the death. That was at 38p......and I can see it going lower again today. I'm waiting to get a feel for where the floor is before reinvesting. I've been in and out of INL for 10 years. I originally bought at 23p way back when.....and it doesn't feel out of the realms of possibility that it'll get down to that level and I'll end up buying it all over again at the same price. Oh, the irony! It just feels like someone is going to come in and offer on the company for a total of 50p....and I'd rather not miss out on that slight uplift in value (from 38p say). I'm not in the financial markets, have no idea....just expanding on my thoughts.

There seems to be much downward pressure at the moment on INL's share price, despite the buy-back programme. Just my take on things - will we see 39p? And if we do - does it make INL attractive-enough to consider going back in.....or is there further to fall? I've 33p as a figure.......but I don't have any robust research that merits that - just a gut feel as to where things might end up.

The CMC news will definitely have an affect on Plus's share price today (and over the next week I'm guessing).

It pains me to say it but I sold out of INL yesterday. I think there's someone consistently selling (and INL are soaking those shares up for the most part).....if the buy back ceases.....the share price drops. I can see INL going under the 40p level....I'll buy back in at that level. I know it's a risk being out of the share whilst there's so much M&A going on .....but I think the debt that INL have is holding interest back. I might be (massively!) wrong however. It'll be interesting to see what the market update brings. IMO it'll be same old, same old (concentrating on the debt, working the planning, trying to manage the build contracts they have).