Member Info for Paddyboy1

The shorts know they can hold this down as the fund managers etc won’t go near at this level!

True, also now the hybrid isn’t really a big issue now they have extra cash.

Millennium reduced by 0.20 which equates to about 1m shares. Surprises me. I thought they’d be looking to exit although I’d guess they’re covered long as well!

Some very enlightening commentaries about Germany stuff here guys. I’ve often felt it’s been overlooked a bit on this chat. It’s been my biggest concern here for a long time. Yes, the overall debt is too high but it’s always been high. This German debacle is hampering the ability to service it!

There is various legislation which covers unfair contract terms. I’d imagine this would apply here. Stuff for the lawyers to bash out I suppose!

WT I remember the day in 2023 because there was a short lived SP spike. I’m sure it was a 5 year deal though.

No, they’ve been in German Rail since 2015. Finch’s time.

Why on earth did MCG engage in these contracts at all?

I thinks the fines incurred have been more about driver shortages & training backlogs. I don’t believe MCG are involved in the infrastructure element.

I think the German contract expires in 2028 anyway but I’d expect the PTAs will want it to continue. An amicable agreement is in both parties interests.

Haha, that’s what JKR said. Not that simple. If it was I’m sure it’d be done now!

I think you’re correct. I’d expect that to be reduced at least this time around.

SP was 68p on last years HY earnings. They’ve got rid of an asset which wasn’t really adding much. This SP really baffles me!

I think the German impairment charge is a rather bigger concern as it’s been swallowing 50% of earnings!

Without Germany dragging this you would have a business with annual earnings @£200m. At a conservative P/E ratio of 10 the business would be worth@£2bn. The current valuation here is a farce!

Shorting at sub30 was easy as there was a real risk of CR/dilution. That risk has now gone. The only thing holding this back now is the Germany issue. A resolution there will make last weeks rise look like chicken feed!

JKR summed this up quite well ‘they sold one of the crappiest bits of the business for more than the entire value of the good bits’!

When this share wants to motor it really can. Unfortunately for the last 3 years it’s motored downward!

PC, the manipulation here has always been fairly obvious. The losers are always the panic sellers. I’ve seen it so many times.

2% declared is fairly low by market standards.