Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
"That would be a non-sensical thing to do if they thought shareholders were about to be wiped out".....which is pretty much what happened at IRV. So many were in denial that IRV couldn't/wouldnt, the banks wouldnt let it happen, the Gov will step in etc etc.
No matter what new/good news landed on contract wins, discussions about selling off large parts of the business that took place, all the cost savings, new investments from banks etc, apart from a few blips, the price never gained any traction and slowly drifted down to the point at the end where they wiped out all share holders. IRV went bust at the end of the week and rebranded and continued on the Monday. The BOD took bonus's and the business just moved on. All share holders lost everything.
I lost a bit on IRV but got enough out early enough I didnt lose it all but it hurt.
I'm in here, holding and hoping I can double (anything else would be a real bonus), but if this heads back below the £1 and heads towards 90 regardless of news/speculations, short positions etc then I'm out for good.
As the saying goes, "once bitten twice shy", and a lot of the activity here just feels familiar.
I hope being on the AMP7 does more for Kier than the AMP6 did for Interserve.........
This is a great opportunity, but as with all Frameworks of this type there are winners and losers when it actually comes to the winning of works and the making of money from the framework
Matlot & Meta where fore art thou??. Now that the mighty rise has not yet hit the dizzy heights proclaimed and once again we can no longer shout and scream how we have been right for an odd day in 3 years and ridicule your clock for only being occasionally correct each day, things have become quiet and boring.
We miss your input, we need you here so we can blame you for all that is wrong so we can ignore your thoughts and accuse you as being responsible for making the price act in such a manner.
It may be in the long (or shorter) term that your overall assessment is incorrect and all will be well in the world of KIE (I hope so as I am down a bit here), but those who ignore ongoing long term trends and cry the lord has risen each time they have a day of success need to take care not to get dragged to a fiery end.
For those that lived them, a lot could be learned reading boards on previously departed recent friends such as Interserve & Carillion, or for those with long memories Connaught or Rok, whose comments, thoughts and accusations mirror almost exactly those to be found here.
So keep it up, I if no one else enjoy hearing your words and differing opinions to others as I’ve seen it all before but live in hope it doesn’t happen again.
I dont think Kier will ever be a Carillion, but I worry that Interserve have set an example for others to follow:- screw current investors etc. let the share price do what it wants, go find new investors ready to jump in whilst you keep winning public sector work and saying how good the future looks, put the ultimate holding/parent company into admin/write off debt etc on a Friday, and relaunch new company on a Monday with all new investors/money in the bank etc. Pay everyone on the board huge bonuses for saving the company and carry on like nothing ever happened. Plan to relist sometime in the future. Rinse and Repeat
the cityam article posted earlier had the nice line of "another source on Interserve’s side insisted the plan would not involve bowing to shareholder pressure purely to appease the hedge fund"
Will be interesting to see the detail tomorrow and see how much irv have listened
Until everything is signed/sealed I'm not going to be counting on anything, think there may be a few more twists in the tail yet. just hoping for some form of recovery on price in the longer term.
its just crouching down before leaping to 30p and beyond.....
Bill, I feel your pain, I'm invested here to, many years of share schemes and bought in a little more on back of messages from BoD following original financing....Was hoping to have enough to help fund early retirement and an easy move to Australia to live with family. I got a portion out a few months back at a real loss, but left a good chunk in there hoping for a change in fortunes.....
Fairly certain that IRV fully expected Coltrane and others to reject the deal. They made it really clear in the RNS: "Interserve is also actively preparing alternative plans to ensure the proposed transaction can be implemented in the event that shareholder approval is not forthcoming."
I think they dont care. Deal goes through they get paid, deal gets rejected they implement plan anyway and get paid or IRV goes to administration they blame shareholders for failure.....
FWIW I think until the next announcement you could see an odd peak towards 15 and an odd drop to middle single digits and for those who play the game some quick wins could be had, but the general trend will be slow downwards until we get closer to the next announcement.
At that stage I think the big boys will come out to play and we will have a clearer vision of things.
I'm hoping for a long term recovery (but not to long) as I still have hopes of packing my backs and leaving the country for warmer climates with some monies in my pocket. However I think for most of us this is done and we'll not see anything real back for our efforts.
Strangely, after almost 30 years in manufacture and seeing its demise, I went to work for Connaught (remember that CNT?) and invested there on the back of a string of positive messages from the BOD......Then a very quick spell at Rok then over to IRV.
Dont think I will invest in the companies I work for again :( ..........
it made the front page on the bbc uk news web site, so things must be bad lol
https://www.bbc.co.uk/news/education-46191830
Meta are you the former big share holder??? :)
I'm hoping that this is still a good place to be and things turn around, but how much lower do you think it might go?
When it was back up in the 70s I did think we might see a turn back to the mid/high 60's and I bought in for a bit more when it did, and wasnt to worried when went low 60's for a while but then it kicked its way down below that with ease and then with the odd blip held in the low 50s.
but where to now? yes the whole market is down and brexit looms etc. do you see this holding in the low 50s or do you think we will find a new low???
Yes I know if we all knew the real answer to this we wouldnt be sat here speculating and would be off swimming in our gold vaults like duck mcscrooge.
But just for speculation could this realistically go and sit at a mid 40 or lower and what would drive it?
There are a lot of services that IRV deliver through their own directly employed staff, for example they have their own Fire Safety and Water hygiene businesses operating on a full national basis directly employing hundreds of field staff. These businesses have their own customer base as well as supporting IRV FM/M&E etc customers.
It would be interesting to see which "subsidiaries" are being cut.....
Oh I read it all the way through. I'm desperate to see this turn around as many others on here are, maybe a little more then most as I'm wanting out in the next 18 months as I hopefully retire to warmer climes.
My point is from a news standpoint IRV give and take. Financially it should be small fry, but in terms of reputation can they afford knocks at the moment even small ones???
In this case did anyone here know that the claim has been open since April 2017 with High Court hearing the case in October? We all see the positive news stories and wonder why nothing positive happens, maybe things like this give a bit of balance to the reality...What else is out there??
When bidding for new works should they be declaring open claims like this one?If so you'd think that it can only have a negative impact.
give with one hand take with the other...
typical Interserve, good news in one day, bad news out the next
Swansea Stadium Management Company (SSMC) is suing Swansea Council and the stadium builder, Interserve Construction Ltd.
https://www.bbc.co.uk/news/uk-wales-south-west-wales-45214388
Is this a completely new win or a retention of existing? I read it as a retention which they would of built into their f/cast for the year and would of been essential as part of the recovery, so does it have that much of an impact? If they had lost it then that would of been a very different story.
However, the customers decision to remain with IRV shows good intent though and should be taken as a positive
First post here, but as an ex employee heavily invested here and recently bought in more at 69, hoping for some good things to happen over the next 12-18 months.
I would suggest that 30 days should be read as EOM 30 days so more realistically 40 - 50 days. I would also doubt that IRV is getting 30 days on many of its contracts so would expect them to at least mirror terms over to suppliers?!