Member Info for RoxburyHouse

Hi Banbury nice to hear from you mate, we miss you over on Saga.

Wow yes - what a great update!

Oh it’s great when that happens isn’t it. I sold all my Saga to buy Card 12 months or so ago. In that period Saga dropped by 50% so it was worth selling Card at a slight loss to buy back twice as many Saga for the same cost.

This game is all about (educated) risk isn’t it and of course holding your nerve.

I have faith in the Management team here at Works so even if tomorrow doesn’t go to (my) plan then the drop should be minimal say 5p? but if there are no bombshells and dare I say it… the dividend is confirmed then +5p to 10p is a possibility.

Let’s see.

I’m not expecting fireworks tomorrow morning with the Trading Update but I still think the share price dipped too low because of the last (poorly written) RNS.

On that basis I’ve managed to convince myself that @29p (my average) the upside is considerably bigger than the downside and invested far more than I possibly should have!

I bet I’m not the only one who will be up nice and early Friday morning refreshing my screen at 7:00am!

Hi PI I’m going to stick my neck out here and say that this will be 35p minimum after the next trading update next Friday. All IMO of course and just a bit of fun.

Finally bought into ITM power just before close of play today. Doubt I have managed to find the bottom but at £1.15 I’m happy. If it drops tomorrow i will buy more.

I’m a glass half full kind of person and saw a lot of positives from the last update. The cash will have reduced to fund the IT improvements mentioned in May ie

“The cyber security incident in April 2022 had a limited impact on trading, but has prompted the decision to significantly speed up the implementation of plans to strengthen our IT security measures.”

That won’t have been cheap but certainly not £16m!

I also saw the “new committed £30m bank facility, extended to November 2025” as a positive statement but my guess (judging by the drop is share price) that a lot saw it as negative?

It didn’t mention that any if this has been drawn down so that for me was good management.

Ha ha yes that was funny HB I think we are being stalked! Nothing wrong with your 3500 purchase - well done. Everything is relative, me and PI are OLD!

Excellent, the 72,792 & 27,708 bought straight afterwards are mine! Meant to buy 100,000 and got my numbers mixed up. Ha ha

I’ve managed to convince myself that it was a genuine mistake in the last RNS that The Works didn’t mention the £16m+ cash they have in the bank.

We will find out next Friday (23rd) - fingers crossed.

Hi PI and Welcome (again!)

The Preliminary results for 6 months ending 31st July 2022 are due out 2 weeks tomorrow (Fri 23rd Sept).

I think it was a genuine mistake that they failed to mention the current net cash in the last Trading update (8th August).

Everybody assumed the worst but it wouldn’t surprise me that it’s still around the £17.8m mark but hey maybe that’s wishful thinking!

All IMHO ofcourse but not long now.

On a mission now…lol

£294.0m 220p<< Jan 2022 - Sept 2022 (Average).

£216.0m 153p << ** TODAY ** (6/9/2022).

Wtf? Ha ha I give up.

Typo.
The last 2 lines of my table didn’t come out properly?
Anyhow:-

£294.0m 220p<£216.0m 153p << ** TODAY ** (6/9/2022).

It’s bumpylanes opinion Billzo nothing more and nothing less and I have got to say I agree with him.

Everything hinges on whether Saga can turn a profit for FY23 and if they do then based on the following figures and were we are today (with a share price of £1.53) I see this as a cracking opportunity.

All IMHO ofcourse.

Mcap.......Share Price.
£1.35 Billion n/a << 2004 Sold by Sir R to his Management.
£2.1 Billion 1504p << 2014 IPO (£1.85).
£3.4 Billion 2436p << May 2016 (£3.03).
£840.0m 602p << Jan-Jun 2019. (Average).
£560.0m 400p << July 2r019-Jan 2020. (Average).
£168.0m 120p << Feb-Oct 2020. (Average/Covid).
£370.0m 265p << Rejected PE Offer (33p old price).
£314.2m 225p << Oct 2020-Jan 2021. (Average).
£434.0m 310p<< Feb 2021 - Dec 2021 (Average).
£294.0m 220p<£216.0m 153p << ** TODAY ** (6/9/2022).

For the record..

When the PE offer of 33p was made there was 1,122,003,328 shares so they offered £370.0m.

There are 139,594,769 shares now so the same offer today would be £2.65.

Got to be honest velindre, that was my first thought also and judging by the complete silence on this board we are not the only ones thinking that.

More “managers” - excellent.

Hi 808state
I believe the Interim results are on Tuesday 27th Sept.
Hope everyone is well here, very quiet!

All IMO ofcourse but very difficult for them for them to not pay the 2.4p dividend for FY22 because they have already (moreorless) said they intend to.

60m shares in circulation x 2.4p = £1.44m

They can afford it this year but not sure if it’s sustainable we shall see.

Hi Harry buy showing as sells (and vice versa) is just something you have to accept I’m afraid, it happens all if the time. I don’t think it’s anything sinister though or anybody (MM) hatching a plan it’s when the spread is very narrow so the software that runs on the Lse platform is unsure. That’s my take on it anyway.

The sell at 8:08 for £9942@28.7978 was mine but it was also a BUY.

Hi CR888

The short answer is yes but the bulk of that debt was the purchase of the 2 cruise ships (£516m) so is asset backed.

Thankfully it was planned a couple of years ago so has low interest rates fixed before inflation hit and not due for repayment until 2032. ??There are also 2 non asset backed bonds.

The first (£150m) due for repayment in May 2024 (fixed rate 3.375%) and ?another £250m bond, repayable in July 2026 (fixed rate 5.5%).

These first is not a problem because Saga currently have £180m+ cash, and a £50m bank facility but the second one could be if we don’t start making a profit!

All companies have debt though, it’s only a problem if it’s not being serviced which ours clearly is.

Providing those cruise ships are sailing then I’m happy and it must be remembered that the current market cap of £236m isn’t much higher than what it was when they were both stuck in the port and being called Petri dishes!

Gut feeling TD nothing else.
Dangerous investment strategy and wouldn’t recommend it.
I have faith in the Management team who managed to turn a profit during Covid.
They have been dealt a poor hand lately and that’s reflected in the share price but I see the upside far greater than the downside atm.
Fingers crossed.

I’m loving this and loading up.

IMO this is a bargain.

Thank you Alnwick.

Hey guys listen up - Me and my son on impulse packed up my MHOME on impulse and headed for Scotland Isle of Arron on a cycling/swimming/hiking holiday.

If you haven’t been here then put it on your bucket list because it is absolutely AMAZING.

Now in Mul of Kintyre which is also truly beautiful.

Heading tomorrow for Isle of Islay.

I’m sat in the sunshine drinking beer so sorry for going off topic - living the dream!