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i think, if you wish to get something out of this chapter 11. The best approach would be to get in dialogue rather then comin in gunz blazin.
imo - the judge is the best (and prolly only) way for a pitty-percentage in this.
You could contact the same guys that did the regal bit - but who's gonna pay em :) ?
And Any direct attack to the currect "planners" will be reflected very easily with "Shareholders were warned at every RNS"
Thats why i love Cash Flow statements :D Cash never lies
Thank you for the effort you put into this.
hahaha, fair point. Guess we're (as good as) done here.
At least we know what we thought was correct and what we assessed (aside from the C11 debacle) was fair.
You are correct i did see that too. cash flow confirms its only 200ish.
But it also shows rents are only 600m max (and included in EBITDAadj)
So i wonder if theres a lease portion in (financial) P&L that is merely a non-cash movement to write off the part on the balance sheet. Im no expert on IFRS 16 but looking at the cash its guess that would make sense
And if you look at the cash flow table you see those same amounts returning.
Note that they generate a nice 300mil per year after having paid everything.
I see lease payments being included on adjusted EBITDA. (Adjusted EBITDAaL) on page 268
Annual intrest of the forecasted 5 next years pf 600k !!!! on a debt of 1,6B
Poor banks right
Thanks for the valuable share.
Looks like the banks agree that this a valuable business. Look at the projected annual EBITDA. It confirms what ive been projecting.
So sad to see this go...
isnt he getting boot? So this MIP is for the new management?
if not Its quite bitter to read the banks can provide 7,5% for management who owned 20% but not a couple % for existing lth
I've been tempted to rational myself into selling. Eventhough what was posted today has already been known for a while.
It makes no sense to sell on the worst day in terms of SP level. Yet the future has never been more bleek
I've had to order open ready but i just cant seem to get my mind to click confirm.
Could recoup a solid % but i dunno whats holding me back. Maybe im too naiev, stupid or too stuborn
Banks are the winners here. they're getting the company at a huge discount (50-80%); that will pay them back and then once its all dusted and done prolly be sold at 8x what they "paid" for it + loans payback and biggest joke would be if someone bought it at 8b+ and then being financed by the same banks
Its a travesty - but they hold the cards - we all knew this was coming
Wolf - was not referring to shareholder voting but court approval.
Because this is merely the plan that has been proposed.
if you read the document. There's still an approvement process and formalities to be completed.
Delisting would only take place once its all approved (my guess)
Has anyone seen when the plan is scheduled to be approved/reviewed by the court?
Wolf, may i ask, are you still holding? Or what is your position/view on the matter.
You raise a lot of intresting views that are different from my own so i'ld welcome another view.
Have heard that 4% aswell Tegop. It was posted here on the forum but i never saw an actual source. If someone knows what case it was it would be handy to see!
Valid point Wolf (again). But; why would they do a rights offering if the company is already 100% owned by the lenders?
Whether its a loan or fresh capital via offerings its 2 times the same thing if the beneficiaries are the same unless they wanna reshuffle among lenders.
and the nuance there is that rights offering (according to the internet) is for EXISTING shareholder. So, could mean we are not completely dead
my bad on that first wall of text, seems to be imbedded into a copy-paste from FT - relevant quote is below the link