The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
thats true also so what do they plan to do with the 6m pocket it themselves, one moment they are saying they planning to become an investment company, in december a acquistion was made, i dont understand, mak your own decision guys,
The proceeds arising from the Disposal will be used to repay the remaining liabilities of the Group including third party bank indebtedness. The Board will also take steps to redeem the outstanding Loan Notes with a nominal value of £500,000. The Board estimates that the repayment of bank indebtedness, the redemption of the Loan Notes, transaction fees and payments arising in relation to Completion will amount to approximately £3 million.
i understand they have sold that business now, so they are not in trouble, now, as they have sold here troubles and will be paying of loans and becoming a investment company, its in the announcement in november, its all there, not my words they are saying it, so its basically a cash shell with £6.5milion
they have also said, this money will not be net proceeds for share holders as they want to invest the money in other companies, they want to become a investment company, nevertheless they will have £6.5million in cash, do your research
just found out how much is going into loans please correct me if im wrong, they have sold assets worth £9.5million, the company said £3million of that will settle the loan with bank, leaving £6,5million, thats how much they have in cash