Member Info for redwineday

restated not related - why doesn't LSE have a ff edit button.

Millionaire, I am surprised too its not down by a lot more this morning. I was expecting a bloodbath. I managed to get out still in profit thankfully. Something doesn't smell right about this and if you are getting a nasty smell there is usually a reason. Worst case they can come out with something like previous years accounts need to be related and we need equity.

Just because it cant been a bloodbath this morning doesn't mean to say to won't be tomorrow. Safer to wait and see.

This isn't good. No way of saying otherwise.

This has gone from no material impact, to we still expect to declare a profit for last year but we need more time, to might be suspending the effing shares. You need to take a lot on trust that this is still investable. Me I'm not so keen on trusting Lookers BOD give the recent RNS's. For the moment I am out. If it turns out ok I'll be back but to take on an unquantified risk at this time. No thanks!

Will be interesting to look at the volume over the next few days. If it stays at the last 3 days level or increases then I would expect to see something as usual those in the know dealing kicks off....

If someone were looking to bid it would be another reason for it to happen sooner rather than later. Cant help but think with the SP rise last week vs the other UK motor retailers that something must be going on. RNS alone doesn't, imo, explain this alone.

If the stock market is forward looking then todays price is dislocated. Looking at that link, Have no idea what 2021 or 2022 diamond market will look like and neither do Moodys, but what I would agree with them on, is it will be better than today and my point is this is priced at todays market at best and I would argue even below todays value. GEMD have just taken the lease on Lesetho for another 10 years, so the market says thats worth 45m discounted over that period. Nuts! I would argue 3 times that is getting close to fair value. You might need to hold on for a year or so to get a 3 bagger here but in time it will happen.

Wonder what Monday morning will bring!

Hmmm....Interesting that VTU went back today whilst this continues to motor (pun intended).

Valuation on this share is nuts. Mkt cap as I write is 45m. Debt at end march was 18m, so EV at of roughly 63m. Cash was 18m plus accounts receivable of 10m. I know I'm mixing dates but bear with me. Lets assume debt has risen by 10m since then (very conservative). If everything else is equal then the business is valued at 45m today with the debt large paid out of cash on the BS. Valuation is equivalent of one big stone or a handful of smaller ones with a free diamond mine attached!

This share has to be worth a minimum of twice todays SP even in in todays woeful diamond market. Valuation is roughly Q1 revenue or as at today. Or look at another way the market cap here is on only 19m higher than PDL with its 600m worth of debt, in breach of covenants and with a very good chance of going pop!

Nuts I say, nuts!

I'd wager there is bid bubbling in the background. If you could take this out for 50p, not sure it would be enough but anyway, you basically get the business for nothing. If there is someone sniffing around then they better do it quick as each day that passes is gonna cost them 10m more!

No is apparently the answer!

Algos trying to push it back down, let's see if it can hold at this level.

Not bad at all, yesterdays fall looked odd.

What we need to see here pdq, is CFO appointment and COO appointment. Stabilize the ship and start to improve.

VTU lost 20m April May. Would expect to see something similar here so, if so debt at 75m looks about right. If they can get to BE for the rest of H! and profit in H2 then 60p a share by the end of the year looks about right. Difficult to imagine the car market worse in H2 than H1.

They sold 17m worth of property since then and debt has come down since then but not by 17m. Presumably the difference has been used in op ex. BV is no mechanically no longer 81p never mind any revaluation since December. Since all commercial prop cos are writing down the value of their assets you can pick a number but i would go with 25-30%. Still worth a punt though.

Property will no longer be worth that post covid. Net debt at end of april was 65m, lets say that deteriorated by 10m, so 75m + pension liability of 68 m, gives liabilities of roughly 150m. If the property is worth 30% less in a fire sale then you still have 50m remaining plus whatever you value the operating business at. Historic EBITDA was around 75m, lets say thats halved in todays market (frauds to one side) valued at 6 times gives 200m + 50m = gives an SP around 60p kind of worst case. Fag packet stuff granted but certainly higher than 23p

Should be 2019 results this week. I’d imagine August is 2020 H1.

https://www.thetimes.co.uk/edition/business/lookers-keeps-skidding-as-showrooms-reopen-t6z0zn2tl

Just a chronic lack of liquidity. I can give them mine if they need some stock. £1 each should do it!