Member Info for oldtimer

Just where is the Bl*** bottom here.

So after the rns where are the analysts / broker reports / price targets, or was that day another waste of time and money.
It would be such a laugh if they now come out with a price reduction targts

Many are worrying about our £250m+ debt, but even Sports Direct have announced today that they have almost £400m working debt, and we have atleast announced we are going to sell some assets to bring ours down so maybe we shouldn't worry too much.

So for the last 5+ years we have all been waiting for the next rns / TU and for the sp to go up so we can all get out, so after yesterdays rns we are right back to where we were 3-5 years ago.
SP on it's knees and the prospects of another few years to see the light.
Will Oasis do anything, buy more % and try a takeover I think not, sell the lot and get their money back which they might be able to do at 44p+.
If thay happens we could see the sp drop again to 35p. Who knows just what to do.
But we do know that GD and co will just keep on taking the money. Life's a *****.

Have been talking to the BBC today about their results and their investment in Debs, they say they have lost approx £85m in debs so far but they are trying to get a sports offering in Debs to work together and off set the onlin competition.
If they can do that in the time they have it would be much better.
Not sure I like that talk. !!!

When oasis said we are not going anywhere did they mean Pfd wasn't going anywhere or oasis wasn't going anywhere.if they are staying what's there next move.
They can either just sit back and watch Pfd take it's time, or it can start buying big and force Pfd sp up with a bigger holding or even force Nissin to buy more to get the bat helots business.

Look you /me/ everyone knows that whatever we do it always turns out to be wrong, let's hope you haven't pushed that sell button too soon.

I couldn't agree more, no more just sitting on their hands and waiting for the company to do better, they will now have to do things to push up sp / shareholders value. What ever happens next has got to be better than before this action was started.

LONDON, July 18 (Reuters) - Premier Foods Chief Executive Gavin Darby has received the support of 58.92 percent of proxy votes counted ahead of Wednesday's annual general meeting, with 41.07 percent of shareholders voting against his re-election.

The final result will be announced later on Wednesday.

I think this now has a great future if the bod's do what they say they are going to do and sell some assets to pay down debt, and at this price it's a no brainer.
As for going broke / bust most unlikely as they are still making a profit and many other companies have working debt levels of £200m - £500m as long as the turnover is there which it is.

MA may be playing game to still bring down the sp and looking / hoping to pick up debs at a very low price, but at this price someone else could step in and take it off him before he gets the chance, or a bidding war could break out.
Let's hope it does, but at the moment it does seem as if the bod's arn't too bothered about the low sp otherwise they would be putting out more info.

Yes going by what's been said in that interview it does look like there have been a number of discussions going onwith Nissin that GD has tried to keep from the pi's. Why
Has he been looking for a deal that looks after his interests first or what, but now that has all come out what more will be told at the agm if it's mentioned.

At least now this action has brought some of the things that have been going on.
Darby, who has led the maker of Mr Kipling cakes since 2013, declined to comment on the shareholder vote or the security of his position, but he told reporters late on Tuesday that the escalating battle with Hong Kong-based hedge fund Oasis has had some benefits, such as publicising the fact that assets may be up for sale.

Darby and Chairman Keith Hamill said Premier had recently undertaken strategic reviews that included exploring the possibility of selling assets. One review, begun in the spring, was accelerated due to Oasis's agitation, while another was undertaken earlier this year.

"Nothing is off the table," Hamill said.

As part of the review, he said Premier had held "exploratory discussions" with Japan's Nissin Foods about selling Batchelors soups, but nothing materialized. He said the board looked at the possibility and Oasis was "highly enthusiastic" about it, but such a move was not acted upon.

"Going forward things may change," Darby said. "One of the beauties of the whole process is that it's been public. If you're a strategic buyer somewhere in the world ... you're going to know about Premier Foods, and you're going to know that the chairman and CEO are open to looking at alternatives. That may generate a buyer."

What’s next?
If the company now sell off some of the assets for say £100m to reduce debt to about £150m - £200m a normal working debt level, debs must be a sitting duck takeover target for someone at 30p-50p when the sp is only 13p- 15p.
Someone must be running the numbers already, so if MA is interested at all he should move now or he could lose out to someone else.
We all know this should be at least 40p-50p now and it's only been brought down by all the talk of HOF and general talk in the market, but it will come back soon.

1 of 138,000 and another at 1+ml, so someone is topping up, and thinks it's got legs.

So if they sell some assets for say £100m and don't need to raise any more money the sp could fly up to 40p+ very quickly.

But then your a shorter so you would say that wouldn't you.

Another day of 5+ml buys and it looks like they keep dropping the sp for someone to buy in, could be another rns holdings soon. Then we should start to see this going up. please.

No I see that as good and NOT so concerned now, but that's only me.

I am sure debs will not object if I share an email reply I have following a number of questions I made within the last week.

Thank you for your message, and for your continued support as a shareholder.



The messaging around the strengthening of balance sheet in the last trading update was clearly referring to the planned capex reduction and focus on generating cashflow from operations. Analysts have also made assumptions around our future dividend payments – although the Board has made no comment on dividend policy. These measures of themselves are expected to lead to a reduction in net debt in the next financial year and we have not signalled any intention to raise capital other than what might be delivered by any asset disposals; as we stated we are conducting a review of assets, as their value is clearly not recognised in the current equity valuation. This is in order to ensure that the business is in the best possible financial shape to withstand the challenging trading conditions which are not expected to abate in the near term.



We are, as you may be aware, a year into a new strategy following a change of leadership. As yet our results do not reflect the benefits of our strategic initiatives. Our next scheduled market update will be the preliminary results on 26th October when I hope we will be able to demonstrate more tangible signs of progress.



Yours sincerely



Katharine Wynne,

Director of Investor Relations