Member Info for Paddyboy1

Always risky calling a bottom on a falling knife. The knife has a habit of tearing the bottom open. Still no news. Unbelievable. Shambolic management.

Teddy, this one is quite intriguing. No rush as I think in the absence of a calming RNS the rot will continue relentless. While I understand the comments about underlying value etc, the market never looks at it like that & in the end the only ones that get wiped out are private shareholders.

Blackrock haven’t closed their short. Reduced by 0.04 so now under threshold. Yea Teddy one & the same. Heavy in Mobico now. Hoping for miracles!

Problem as I see it is major dilution is clearly going to happen here so why buy before it does?

All I can say John is I at least think the new management here are making all the right noises in trying to turn this one around. Not for the faint hearted for sure & I think the real rewards here are some years away but personally I’d prefer to be in this dog than SYNT by a long way. That looks a total disaster!

Well John, let’s just hope it’s not a SYNT! Did Garat & Stamp get new jobs over there perchance?

The German penalty was £86m last year. It’s half the ebit. If that comes down & earnings forecast is achieved should see some upward movement.

Depends what is considered bad really. The company is being valued currently at £150m in its entirety. The results have to be viewed in that context. I expect the headline numbers to not look too pretty but a lot of that I suspect will be non cash stuff.

That’s why the market has hammered it John. They never like the management to BS on their updates. Trust & confidence lost. Same as we had here with Garat & Stamp!

Covenant gearing on SYNT is 5 X. That is extremely high.

That one is taking a real hiding today!

John, that is what keeps me hopeful here. The liquidity is plentiful. Enough I think to get through at least a couple of years when hopefully the cost management, new contracts etc should really begin to payback. SYNT is a different cuppa tea IMO.

John, as I see it they have a large amount of liquidity which gives them the time to turn things around. In hindsight I think the NASB sale was a great move for longer term stability.

John, I think the results are going to look at first glance at least quite ugly. Even if the £180m earnings is hit, we are going to see some losses on Germany & some non cash impairments on the WM fleet stuff. I think the SP here will recover but it will take several years for the fruit to bear. Management now overall seem to be doing the right things so just a case of sitting on hands & waiting really.

You’d think that article would push it up a bit!

Seems to be holding up despite the shorts at this level.

There is more likelihood Elvis is appointed CEO than a dividend being paid here for at least 4-5 years.

It’s more likely to retrace back to low 20s or lower with shorts increased again & no news for a few weeks.

It removes a lot of the uncertainty for sure. Not sure how much it’ll propel the SP further though!

Rocket, that’s not explicit in the RNS.