Member Info for Paddyboy1

When this was 250 it was a bagger then too. LOL.

They did a placing to raise cash in 2020. There was never any $1.4bn offer for school bus. Finch was in charge then, not Garat!

Yes, the dividend reversal should have been end game imo.

They have stated they are good liquidity wise for at least 2 years. Even with another German impairment charge it still looks stupidly priced.

I don’t recall either of those offers?

Just relax guys. The numpdies appear to have left the building. True value will prevail eventually. Just need time for the new guys to sort out Garat Evolve mess.

Alex Jensen. Another one. She wrecked UK business then skipped off to Topps Tiles. This business has been awash with nest feathering driftwood far too long. Hopefully they’re all gone now. The market at least seems to be liking this again!

I don’t understand how Garat got that job & managed to stay so long. I remember saying at the time here Chris Davies who was CFO should have been given it. He wasn’t then he moved to Diploma as CFO where the SP has since doubled. Absolute travesty. No wonder Helen Weir sneaked off!

UK is a dead duck!, Absolutely not. It is a badly managed duck. Take a trip down any major motorway & you will see loads of these jam sandwiches. No reason why UK & Ireland can’t grow in the same vein as ALSA. We have seen in the last 4 years here what incompetent management can do to a very viable business & also under Iglesias what is achievable with theright approach.

My understanding is they have absolutely no intention of paying back the hybrid bond. Core to their financial strategy if I recall.

That’s an enviable average LL. will do very well there if you keep the faith IMO!

No ‘significant’ debt maturities. Significant being the key word!

Not burning. This looks to me like shorts getting out before the true rise!

LL I agree. While newer entrants might delight at a bid at these levels I think it would really screw the longer holders. There is a clear path here to longer term real value. Thankfully I think the Cosmens would block any low baller.

Without the NASB sale I have little doubt there would have been a need for a CR which really would have been dire for shareholders.

Well firstly, the markets expectation of NASB was hugely over inflated. Largely due to a ridiculous article by IC saying it could be worth £1bn+. It is a business making @£9m in earnings. So expectations were over inflated. The NASB was not considered to be a core part of the business & was also Capex heavy so it made sense to offload at the price to relieve pressure regarding shorter tear financing. Personally while they probably could have achieved a higher price for NASB it made business sense to sell it to shore up the finances.

If the last couple weeks rise is meteoric, the last couple of years drop has been stratospheric!

Might see 40 today!

Rattling a bit today!

Barney, interesting article. Their reentry point is £350m which is the FT250 entry level. Only really the Germany stuff left to sort out in their concerns list.