Member Info for RickEngland

I'd imagine any low ball bid gor the firm will be utterly rejected. Until I see an rns advising a large holding, then a takeover is unlikely to happen. Besides any any potential buyout, is going to make the sp fly. Superdry was a different situation, that firm was going bust. CBG have got £1.8bn equity and growing cet1, we don't even know if there's any redress yet. It's all got a bit silly. I'm gonna dream of a 67p div and a special, when this is all over. I'm feeling confident about the trading update. CBG have securitied the motor loans and intend to sell at the right price snd de-risk. How do I know that? The accounts report states that.

Sure I did a small avg/dn at got £1.83 for 1000 more. I'm only buying small chunks now. I've had my head in their accounts report since this morning, to help justify my position there's good quality value here. Sp is brutal for sure, takes some balls to keep playing.

Just out of interest. How does a hedge fund take it private without owning 51% of the shares? Is it even possible to aquire 75m+ shares over a few days? At 5% holding we eould mo sbout it via rns. Can the board still refuse any bid for the firm, if a hedge fund aquires 51% of the shares. Why aren't the directors buying? Any advice re the above appreciated.

Can't see much happening to the sp until the trading update on 21st Nov. It's likely the brave money has already locked in positions. Sure... under 300m does appear nuts. Is £1.70 low? What about £1.50. No one likes sitting on a loss. The issue is, it's not like tomorrow we get political clarity, it's going to be months.... maybe 2 years. Even if cbg advise they've now got 3bn equity the market still wants to know the level of exposure. But no one knows, because it can't be quantified without clear rules. So we bet on our horse and hold for 3 years, at least our horse runs everyday.

When is a commission a cost? Suppose the dealers add £500 to the car price to cover a dealers 'costs'. Is that fair ? Would that be challenged? All overheads are effectively secret. Besides surely a fair argument is without a commission the car should've been sold at a higher value to cover costs. I can foresee politicans stating an amount for costs can be added to the dealers car. Then they quote the price. Car £10,000 car with costs £10,500. Then consumers can compare, Joe blogs motors down the road might quote car with costs £10,300. Even so we need the issue of retrospective commissions put to bed in some manner, as firms did adhere to FCA rules at the time of sales.

The retrospective point is the issue. If Reeves and others advise that commissions are acceptable and normal method of business and qualifies a percentage cap on the loan value, then it sets a fair bar. Cbg capped all commissions to dealers (unknown value, although in the accounts report), that would leave us with limited exposure. We need something like this to happen, as it clearly unfair to return all commissions. Besides what exposure do the motor dealers have? Are cbg supposed to sue their clients for a share of redress? They would all go under. We certainly need a change in approach, especially as judges appear to be making the rules up rather than the FCA. Appears a case of tail wagging the dog to me. It's welcome that politcal pressure, is becoming involved, although will they make a bad situation worse? We can only wait and see.

At these prices a rights issue wouldn't dilute recent buyers that much, since we're already diluted based on p/e. My heart goes out to those that bought in at £5 a share. I'm gonna let my 7k shares ride, got no appetite for more averaging down at the moment.

Cbg want to increase cet1 by about £400m. Thats not an obligation of redress, simply a capital buffer. Cbg state they traded within fca fules and went further by capping commission rates. I'm sure I read in the accounts £4m was currently being allocated to claim fund (although anyone can review the accounts online, to check). The bank had £1.8bn equity before increasing cet1

Hi Karv1. Sure agreed I doubt the div will come back at 67p. Nice to dream though...right. As always we try to justify the reasons we bought, I was comparing shares in issue with Metro bank (not the same issues.. but still a small bank). Metro have 672m shares in issue, CBG have 150m, therefore 4.48 multiplier difference. When comparing sp on that basis the cbg sp appears quite reasonable. We still only need 10k private investors to own 15k shares each, to lock in all shares. I very much doubt the trading algorithms take that into account. When it flys it's going to be fast and quick. Assuming of course the pain, is no where near the numbers being quoted. Some of these law firms are charging 40%+ fees on any motor loan compensation. Somehow their excessive charges are fine, yet a small loan commission, is being labelled as bad for consumers. Couldn't make it up. I still believe cbg "capped" commissions rates on all thier loans (as stated in last accounts) will be reasonably acceptable. We will see, let it ride.

My avg is £2.30 maybe a bit lower as need to boot up the PC and add the Friday buy at £2.09 Trying to get to 15k share holding for a future £10k div a year. £30k though isn't easy to come up with. Maybe I should be happy with 7k shares I've got.

You're welcome. If 45p come on radar I'm remortgaging the house. I've had enough today, think a few in the pub might be a good idea 😁

I hate to say it as I'm a Google fan. However if you do a share search using Bing the dates goe's back to 1984. 21st Nov 45.50p we're still buying at 1990's prices though.

There's £1.8bn equity based on the last report. Almost at 3 p/e ratio though. Gotta laugh. I'll hold. Don't panic Mr Mannering.

It's all cool SG911. The reality is we're not out the woods until 2026. So frustrating the FCA take a retrospective view of their own rules. The plus for me is CB have been clear within their accounts that they capped commissions. I have no idea the value of the cap. But there's a good chance it equals what the FCA consider as reasonable. I like it that CB intend to fight, they say no rules were broken.

With just 150m shares in issue i view this as potentially a fantastic opportunity for annual div income. Just need patience..... a lot of patience. Build your stake, try not to let it stress anyone out. Hold for the gravy. All the best Rick.

There's is old fella in my local Bitish legion. He is basically glued to the fruit machines. I look at him at times thinking you must be losing £1000's on that thing (I won't touch them). However I think he's going better than me this week 🤣🤣🤣

It's all gravy, we'll be smiling again at £8, even if it takes 5 years. At least our stake runs everyday.

I'm done with this falling knife. Got another 2500 as well. Think i need to ban myself from averaging down. Hide my mobile for 6 months... 🤣🤣🤣

Good to hear. I guess I wasn't keen on the idea of 1000's of emails to investor relations when they have enough on their plate. It's a different age though, any cuddles are good cuddles. Generally though RNS is reserved for something material to say as and when necessary. It's all good, we're all in the same boat,.... hang in there. Lots of love, Rick ❤️ ps; I need to get to 15k shares before trading update.

Incorrect. It was clearly stated debt remains flat if the sale of ethos completes by year end. So the logic from that is debt would increase if the sale didn't complete. Meaning poooof the sale proceeds are already burned. That is the facts. Wood is not reducing debt to the levels the markets is comfortable with.

Lets assume your correct and the audit is imm

Yet the sp is 49p. So it's not all roses is it. Debt remains flat "if" the energy sale goes through. Suggesting any benefit from the sale has vanished into thin air. The debt level would actually increase without the sale and slready at c700m The CEO agrees there is revenue uncertainty, if it wasn't material he would have no reason to advise the market. The clown is your CEO or maybe he treats his investors as clowns.

50p is 🤡 world, yet here we are. Is 40p 🤡 world, it may well happen? Without a word from the finance director the CEO has stated the reported revenue could be materially incorrect. You think.... don't worry about it. Well how many millions are we talking? This is why I said only the cash position can be trusted. Hey, ho roll on tomorrow. If it opens at 40p, I won't be surprised.