Member Info for PhoenixTrader

I actually find it quite insulting when punters like you think everyone is just "gambling". Some of us have been very long term holders and supported the company, including the staff, through some rough times. If everyone flocked out at the first sign of trouble, viable businesses would keep failing.

It says Shareholder Action Group, nowhere does it say Class Action and IF the Directors have concealed/withheld timely flow of information and/or breached their fiduciary duties towards shareholders then it is only right that they are held accountable.

I have been pretty sanguine about my losses, part of investing, but I for one will not be lectured by someone who calls themselves Speculative INV and by their own admission was gambling on this stock.

I believed in the business so it was an informed decision to invest (gamble? Lol)? It was by far my biggest position so will be a big setback - by far my biggest loss ever - but by the grace of god, I won’t be starving!

I am a bit P1$$3D off about how everything unfolded especially not being informed about the previous interest from EG / someone else, the statement last month that put brakes on the SP recovery, firing JM if we were already over the cliff, continuing with the MD roll out, hiring people (some quit their jobs only to potentially be fired) etc. So I am contemplating a complaint with the insolvency service re: BoD not fulfilling its fiduciary duties towards shareholders, but I want to think about it as the last thing I want is to come across as sour grapes!

Look away if you are faint hearted... 2.2m shares at 11p each, do the math...

Thoughts? That's 0.18p per share!

dp192 - if it makes you feel any better I am sitting on a loss approx 18x bigger than yours... you can buy me round! :-)

"Greed kicked in" WTF dude? You may have your 20 years experience of business and trading but if you don't know the ins and outs of things, take your sorry miserable ass somewhere else!

PS: if you were so successful, you wouldn't be wasting your time trolling on these boards... there are ****3rs and then there is you!

Oh well!

Neilllmcmc - I don't know who the fu£k p!$$ed in your Weetabix but if you are not you an investor or have a short position, STFU!

Cheers fella!

I know a lot of people would say a bird in hand is worth two in the bush but when you are so deep in the red as I am, an extra few grand doesn't even register...Plus I don't want to rock the market with a couple of million shares being dumped! I have written off this investment so I will probably see this through!

I must confess my diamond hands are being put to test here!

As a LTI, I believe the FV is probably around 30p but at this stage I will probably take 10p over the current 1.8p or whatever else it is trading at because I am sick and tired of these ******* muppets and large 6 digit losses! Between these guys and Just Eat, I am surprised I have not had a heart attack already!

except is not annual profit, it is EBITDA - even that "Adjusted" EBITDA - assuming Depreciation equals annual replacement cost, this is running at the rate of £20m therefore adjusted EBIT is £0! Layer in interest expense say 3%, you are at adjusted EBIT of -£3m now overlay the one-timers and restructuring and you are at -£10-15m...

If this is steady state run rate, the intrinsic value is £0!

The most disappointing aspect of today's announcement was that they have had a very soft Easter! Despite increased top line, this is not converting to bottom line!

Volume is so far is over 57.5m shares, more than 25% of the free float.

Nearly 10 trades were a million plus shares... Someone is clearly offloading, wonder who... but more importantly someone is clearly buying wonder who that is... Is it a hedge fund or just PI/day gambler taking a punt...

@Aklee - still wanna buy at 4p? :-P

Seems like someone tempted fate...

KiJaHu - I hear you buddy!

The Business felt like an unloved, undervalued business and I took the plunge... Plunge I did, knee deep in a creek of $H1T... to add insult to injury, at its lowest point I could have owned next 8-10x more shares (not that I want to) with the same investment and could have used that to freaking sack all these Muppets that we call BoD/Management... now I am out holding my Dickie Bird!

Do you think any rational investor will buy shares at 20p as part of the Placing when the investor can buy the same shares on the open market for less than 5p? But then again I don't think its fair to ask you this question especially when you have issues reading dates which has been stated 3 times!

£200m EV in my opinion is a more fair valuation as it values the business at 5-6x EBITDA; yes there is debt and needs a cash injection for working capital. Once you factor in cash injection of £50-100m that brings a valuation of 7.5-9x EBITDA which still represents a discount as most major convenience stores (albeit North American) trade at 10-12x. The discount should be attractive given a lot of the heavy lifting has already been done. Stores have already been modernized and more than successful proof of concept with respect to the MD roll-out.

I agree that a lot of Retailers will get hammered but in theory McColls should be very well positioned, they primarily sell daily essentials so should be able to pass on the increases as everyone else will do the same, they typically sell in smaller packages and are community based so when people feel the squeeze they typically tend to do smaller shops... but this is probably me coming up with reasons why the SP won't tank further...

Re: JET - we have become a bunch of lazy gits glued to our smartphone so I am expecting this to do well in the long term. In the short term the issue is that they overpaid for Grubhub and it is bleeding cash. Plus Grubhub has been impacted its biggest and core markets having the most severe lockdowns/emptying out and these markets imposing fee caps!

Cheers fella. I intend to hold a decent position in this business going forward, so hopefully the unwind will not be such a big deal, just not decided exactly how big the position I will hold.

Re: Amazon - I need them to come in and not just mop this one up but also Just Eat! These two are by far my largest positions and both trying to outscrew me at every turn! lol

Happy Easter everyone, please be sure to go into your local McColls to get all your Easter bunnies and eggs plus beers and wines for what looks like a glorious weekend!

I am trying to take a Buffett approach to this (you don't buy a farm based on whether or not it is going to be worth more tomorrow or a week from now) and have diamond hands but would be lying if I said I am not looking at daily updates.

I upped my stake a little (stopped just short of disclosure requirements) which brought down the average a little...

Offloading such a massive stake will bring its own challenges... unless a business like Amazon sees value in this (not for the core convenience business but rather last mile delivery spoke) and makes an offer one can't refuse... but for now: in for a penny, in for a pound...