Member Info for ParanoiaBlue

ATB, mate. I am still in, short. I can’t see a massive upside. If there is, I simple slink off with my tail between my legs. However I can see a big drop, if it all falls through. I’ll take that chance.

Quote: “Brixton described the discussions as at a 'very early stage' and said there could be no certainty an offer would result.” So it could quite easily fall to bits. Re: T/O – there is bid timetable. Probably find it on the London Stock Exchange web-site

I don’t know where Segro is getting the collateral from, even after their RI they still have massive debt, and industrial property value has still a long way to head south! Oh well, we shall see.

..a short, here, if this falls through, this one is going to tank big-time!!

Shares in pub operator Mitchells & Butlers (MAB) dropped by 23.5p to 237.75p after it announced falling pre-tax profits for the 28 weeks to 11th April 2009 alongside the resignation of its CEO Tim Clarke. The firm reported a 2.9% rise in revenues for the year to 1.024 billion but rising energy and food costs coupled with increases in duties, business rates, minimum wages and the 69 million pound cost of settling a swap deal, all dealt a massive blow to the bottom line. Pre-tax profits prior to exceptional items for the half year declined by 47% to 44 million pounds as a result. Earnings per share fell from 14.9p to 7.9p. Commenting on the news, broker Shore Capital said: “The surprises today were the £69m cash cost of exiting the legacy interest swap and the resignation of the CEO, Tim Clarke. We retain our Sell stance, noting the high valuation and limited growth opportunities available to the group given what we believe is the excessive level of debt.”

British Land posted results for the year to 31st March 2009 showing a reduction in its portfolio valuation of 28.2%. The company's net asset value per share slumped by 64% to 398p, while its property portfolio lost almost two thirds in value. The group's 3.24 billion pounds of mark downs led to a widening of its full year net losses to 3.88 billion pounds compared with a loss of 1.56 billion in the previous year. Underlying pre-tax profits fell by 6% to 268 million pounds whilst earnings per share fell by 7% to 41p. British Land did increase its dividend by 3% to 29.8p per share, so at least shareholders got some recognition in otherwise gloomy results. The group also recently raised 740 million pounds from a rights issue which has helped strengthen the balance sheet a little. Chris Gibson-Smith, Chairman commented: "Against a backdrop of difficult market conditions British Land's operational performance has shown resilience. Our activities have been decisive, including the Rights Issue, looking to secure the Company's position and preserving its options for the future." Shares in the group, unsurprisingly, finished down 34p at 380p.

....is the trick with this one! My general position is that the trend is still downward. Thus, on “silly rises” I short. However one could equally use the exact opposite system. ATB

Hi, mate. I’ve posted some very depressing, but salutary posts on AVM, recently, which I think are worth the reading. ATB

Hi, mate. Haven’t heard from you for a while! Hope that things are going well A thought: The trouble is that if the recession really bites, all this “save the planet,” “let fight global warming,” “we don’t worry how much it costs, as long as it’s green” will go flying right out of the window, unfortunately!

...there is a long road in the process, yet!

Seymour Pierce released a 'sell' note on pure pubs group Mitchells & Butlers ahead of the company's interim results due on Thursday. The broker raised several issues which may or may not be included in the results: debt and funding news, the condition of trading, the vulnerability of the business model to cost pressures and the negative impact of operational gearing in a downturn. The key issue is whether or not the broker's forecasts for 2009 are vulnerable to a downgrade. The broker added: "We would expect some positive trading newsflow in line with other sector players recently. But without significant upgrades to earnings, resolution to funding concerns, or a significant rise in returns (founded perhaps on a sizeable M&A deal) we do not see upside." Shares in the company ended the day off 13.25p at 261.25p.

...I've a bit of money here, holding on for better times! Hopefully it will be worth it. ATB

Pipeline is “potentially excellent,” however underlying financial concerns must remain a big concern. ATB

...I'm certainly waiting for further re-trace. ATB

http://www.antonovat.com/

This company has a reasonable pipeline, and also the Takeda link-up.

No, but I follow it down the way. On the sidelines for now. ATB

http://www.alizyme.com/alizyme/media/press/show.jsp?ref=148 Hmm. “There remains a material uncertainty over the Company's ability to continue as a going concern, as previously reported in the 2008 Annual Report, published on 30 April 2009.”

..there again, perhaps not! ATB

But still holding on for now!