Member Info for Raleigh

An observation. In these situations one has to be alive tothe actions of credit card issuers, who retain cash pending sufficient throughput of services.
Liquidity remains to be addressed.

On my reading of what is available, it appears that as a non-payer, Carnival had no expectation of a United States taxpayer bailout. They are not lobbying for it, with their comments geared to support for their on-shore travel pipe-line. Trump is of course renowned for unsupported, "off the cuff' remarks.

I agree. I note that Castleton appears to have been busy in assisting customers with SMS staff communication, having created a same-day 'shortened' solution. Though more major decisions may be delayed due to business upheaval and more pressing immediate human need, when it comes to the wash-up it is not hard to see that tech will play an even more important part in underpinning future proofing of housing associations' evolving business needs.

Rumour - https://www.bloomberg.com/news/articles/2020-03-27/carnival-seeks-up-to-7-billion-in-debt-amid-global-travel-halt

People can talk about bounces all day long. Across the board it comes down to survival, followed inevitably by earnings.

An observation. Currently, it seems they need a guaranteed loan. They have the ships and the business, but what sort of collateral is that in the event of cruise lines defaulting?

In common with many and in the absence of company related positive or negative news, the price is inevitably being marked down in an attempt to stimulate trading. I expect that in this downturn the company will continue to identify and implement cost saving measures, alongside ongoing efforts to renew and gain contracts. Next published figures should not have been detrimentally impacted by global events.

I should have said 'would be' rather than 'is of.'

Any potential buyer will require clarity. Interested parties may simply choose to rescue such parts of the business as suits their purposes from the administrators, if that is the way it goes. As such, Mubadala's 3% is of little consequence.

Yes. Whatever their intentions, I was surprised yesterday when they were dismissed as 'chancers' on this board. The family and company are quite well-known in their part of the world.
https://en.m.wikipedia.org/wiki/Mubadala_Investment_Company
https://en.m.wikipedia.org/wiki/Mohammed_bin_Zayed_Al_Nahyan
https://en.m.wikipedia.org/wiki/Khaldoon_Al_Mubarak

No 'take' as such, but do not appear to be 'chancers' as previously described, with extensive knowledge of NMC and overall developments.

https://www.mubadala.com/en/what-we-do/capital

We are waiting on updates. The share price has so far shown remarkable resilience within the context of global markets.

minimal interest

Whatever other influences were in play, It seems to me that the absolutely minimal disinterest in the shares illustrates a deep distrust of the management, rather than the business model. I assess that buying at current price would have meant paying no more than 15p for the various businesses, with the rest consisting of cash or predominantly secured loan notes.

Nobody much wanted the shares at 50p, let alone where the ask has been pitched today.

The trades make for gloomy reading, but I start from the position that each share after privatisation is 'worth' about £1, albeit that cannot be easily realised, and when it can, only in pieces. And NAV will change over the years with management decisions, business progress and sums achieved on exits.

There have been no holdings notifications from the very few non concert party major holders. It is plain that small private investors in general do not want the shares. They are gradually being winkled out ( I think, as planned ) But there is somebody content to buy at my estimate of half NAV., but is not paying more. Whilst that continues, there is a market - but mm's will have an eye to the last day of trading on Friday 13th.

25th. July 2019. "We are confident our strategy is on track and look forward to reporting continued progress throughout the current year."
26th. September 2019. "In summary, the first half of the year has shown a significant turnaround from the upheaval of the previous year. We have been successful in renewing significant customer contracts and in progressing new relationships. We continue to explore further areas where costs can be saved whilst investing in areas that will help drive growth. We are confident in the outlook for the Group and remain ambitious in securing and improving margins and cash generation."
30th.December 2019. "IDE is also pleased to announce that the success it reported at the time of the interim results in September in renewing significant customer contracts and in progressing new relationships has continued.  Several additional multi-year customer contract renewals, including one two-year deal worth over £1 million per annum and a further two two-year minimum deals worth at least £1 million in total have been secured. The Company has also started working on a tech bar project (on-site technical support) which is worth over £1 million per annum and recently added a new name customer with whom it has a good pipeline of new business."
I see no reason to believe otherwise than progress is continuing ( on costs it has already culled much of its previous unproductive 500 plus workforce )
I think it unlikely we shall hear much before results for the year to December. (when MXCP will be a few months into private ownership) The company was fairly upbeat at year end on 30th.

The actual and potential disadvantages to minority shareholders in a private company are well documented. Having said that, it looks as though the market cap is one third cash, and it is trading at half probable NAV. of about £1. That would normally be viewed as an opportunity. There is a flexible up to 5 years to run on the investments at management's discretion and according to circumstances. Ravenscroft and the GIF will have a hand in some of that, as will Liberty Global. There is time to top and tail. A number of cumulative % pa over the £1 would 'pay dividends' over time - and there is probability of premium on exits. But, on this or any other chance, there is the possibility of many a slip between cup and lip.