Member Info for rustybucket

Oltdtimer. You just don't get it. When they have a consolidation they reduce the amount of shares in issue. The price of a companies shares isn't that relevant. More important is the amount of shares in issue and the market capitalisation. 1-0 to you on share price at the moment . Lets see who wins the long game. Question why would you even think of buying in when like others you cant post a single positive ??

On computers !!!!!

I understand what you are saying. But, until I know what they are offering or why I don't like to say "I don't like it" I like to keep an open mind. I appreciate that Hambro did a lot of bargaining, I am not sure however, whether he was more concerned about shareholders or himself. He had very little skin in the game beforehand. And even though the rights was backed it wasn't HIS money. I will wait and see what is proposed before I decide whether I like it or not. But, If I don't like it rest assured I will post that I don't like it. I don't wat to like or not like something that I don't know about. Now I know the example below is stupid. But if for instance they were proposing to raise 500m at a coupon rate of 55 to pay off existing bank debt and have a tender offer for anyone who wanted to sell bonds Would that be a bad thing ??? Just an example as I said and not a very good one.. bUT, if I DONT LIKE IT, REST ASSURED I WILL POST MY THOUGHTS. aFTER ALL, THEY ARE MY THOUGHTS, nO MORE, nO LESS.

We need to be see what is being proposed before talking about whether they are better or worse terms than before. If they could repay bonds and issue new ones with a convertible option that would be good. Its unlikely to be on a like for like basis. There is a lot of assumption that this is to repay bonds. It might be to repay some of banking facilities as I believe there are still covenants on those to give us more freedom. I am sure once the bookrunners ( who are generally well paid for this ) have done their job we will get more clarity.

I was talking about the bondholders already being paid income. We do not derive income from them.

You just have to look at the trading pattern. This isn't normal trading. I wouldn't be surprised at some point to see a large trade. Whether its someone accumulating or selling who knows. But surprising we are at this level. Everything ( apart from the reducing cash balance ) seems positive, but we cant expand for free. I wonder how the board feel about this. If this continues it could scupper the YuMe deal.

Sorry for capitals. Wasn't going to delete it and type it all again.

Not neccesarily, the present bonds have a coupon of 9% and are convertible. It depends on the coupon on the new bonds and whether or not they are converable. In my opinion Hambro went into these negotiations in a starit jacket with one arm tied behind his back. Hopefully with Renova as supporters there will be a better appetite for these bonds. AND THEY MIGHT NOT HAVE A CONVERTABLE OPTION. I HAVE NO IDEA WHAT COUPON THEY MIGHT PAY, BUT, JUST REMEMBER WE ARE ACTUALLY EXTENDING THE REPAYMENT PAYMENT TO ANOTHER 5 YEARS SO IN EFFECT WILL PROBABLY PAY MORE INTEREST, BUT WE WILL THEN HAVE THE pox HUB UP AND RUNNING SO CAN HOPEFULLY GENERATE ENOUGH MONEY TO PAY THEM OFF FULLY WITH FREE CASH. aS WE ARE ALREADY GENERATING ENOUGH INCOME NOW TO COMPLETE THAT AND ONCE ITS UP AND RUNNING WE HAVE THE INCOME WE USED TO BUILD IT AND EXTRA INCOME AS FREE INCOME SO CASH SHOULD IN EFFECT GROW QUICKLY.

They open the spread to stop "A" TRADES.

Boring old fart.

They have already had the income though ??? So I am not forgetting the interest.

Good information. Thank you.

we wont pay anywhere near 1500. Why would we ?? We can redeem at 1000 on maturity. As for switching mortgages it is very similar. I think POGs credit rating has improved a bit as well.

How do we save on coupon payments ??? We are talking about issuing more bonds for a longer term ????????

The company cant give any more details as it depends on the interest that the bookrunners generate. The level of interest generated will determine the type of bond and the "coupon".

Some people might like their capital back earlier. In the past POG have bought back bonds "Below par" that is at less than the maturity value of the bonds. That was when there were concerns about the future of POG.

As long as we have the money to pay these off in 2020 its not a concern. Why would we pay a premium to pay them off early when we can redeem them at maturity at par ???

Look at link below from Millfield

Bonds can be traded. The price you would pay would be the prevailing price at any given time as long as there are willing sellers.

So Bye Bye then.