Member Info for Pianista

KBYK, hopefully, yes. Yet another month goes by without any substantive news from the company. Holding this share is like watching paint dry!

Motley Fool: "...at 31 July, net debt stood at £642.9m, which is more than the company’s entire market-cap of £533m."

So maybe it's the market cap that's out of kilter!

When the market cap gets back where it belongs, ie £1bn+, the comparison won't look so bad - not that market cap is relevant anyway to the company's ability to service its debt.

"CF is not even in a negotiable position and is now at the mercy of the financiers".

After the decimation of the SP, it's easy to be gloomy. But financiers are also at the mercy of borrowers: financiers also have targets to meet, money to find a home for, in a highly competitive market. Everything has a price; if a 15% coupon is that price, so be it.

You can't just suspend shares on a whim. There needs to be a good reason, typically that the company has become aware that price-sensitive information has got into the wrong hands.

Pleasantly surprised that director buying has so quickly confirmed my gut reaction yesterday to the RNS.

You can't compare TCG with SXX. TCG needed much more than £200m to be saved, because its business model was all wrong, and it was doomed to failure. The govt and everyone else, except the BOD, could see that. SXX, offering thousands of quality jobs in a deprived area, and only needing a loan guarantee, is an entirely different proposition.

Reading between the lines, a big boost from the AA will come in the second half. It's been a looooooooong wait...

Yet another vague and oddly-worded statement. Weak pound has certainly been a factor, but not sure exactly how much this affects CRU.

Maybe those attending the AGM will get a better idea of what is going on. If not, we'll have to wait till the Interims in November, which I wouldn't be surprised if they say "things weren't as bad as we made out".

Anyway, the 25% drop in SP today seems way overdone - we'll have to wait and see if this is confirmed by more PDMR buying.

Meanwhile, current valuation of £4.5m must look very attractive to a predator...

Myosotis - your idea of a People's Bond, with say a 15% coupon, is not a lot different from tapping 85,000 PI's through a rights issue, which most would have taken up in order to avoid dilution.

Why not do both?

John 2015 - I'm quoting from the Gazette article.

"......we will overcome this one", says Chris Fraser.

But who is "we"?

Does it include the 85,000 PI's who he admits "have over-invested or probably not taken the right investment advice"?

Or will they be spat out?

members - Yes, I am serious. If they price it at 1p, I'll be buying at 1p, and won't be diluted. So no problem for me or any other PI who does likewise.

There's no dilution if you take it up, as I would.

SXX clearly has an enthusiastic PI base, so I wonder if the company is considering a rights issue to raise the whole or at least a substantial part of the £420m it requires. A full take up to raise the whole of the £420m would mean shareholders chipping in about £6k per 100,000 shares held.

From the RNS: "Unrestricted cash reserves of £180m (£117m uncommitted) as at 31 August 2019 - provides sufficient liquidity for the Company to explore all strategic options during the strategic review [over the next 6 months or so]."

So I don't think cash flow is the biggest problem at the moment, and see no reason to suspend the shares at all. They should perhaps have been suspended last week before the (leaked) RNS, but that's another story....

Could be an RNS today or tomorrow.

ditto

Britain braces for one of its COLDEST winters in 30 years as 'Beast from East' makes bone-chilling return - Daily Mail.

Maybe our prayers will be answered...

With the AA's interim results due on 24 Sep, this could explain the timing of TRAK's AGM two days later.

I'd like to think it's because TRAK could not have said much about the relationship before the 24th, but will not be similarly constrained on the 26th.

"back in to FTSE 100, nice"

3% drop this morning, not so nice!

Any connection?