Member Info for Saab93se

EBITDA for the William Hill side was up 26% in H1 and accounting for around 70% of total revenue, that should more than offset 888’s decline (and steadily reduce the debt). Another year or two before dividends can be considered but by then I think the share price will be well north of here.

One man’s sorrow is another man’s joy. I bought 10,000 earlier and wouldn’t mind another dip or two. No idea where the price will go next week or month but I’m very optimistic about 888’s longterm recovery.

It’s true, the RNS Update of Nov 7th did seem generally optimistic and was sprinkled with positive spin words and sentences. Not dissimilar to Debenhams before they collapsed, which should’ve perhaps set off alarm bells to more experienced investors… but vision is 20/20 in hindsight, as they say. There are lessons to be learned from this, not least the importance of studying an RNS and reading between the lines, to be cynical and constantly refer back to RNSs and not to get caught up in a forum’s take on things.

I failed in much of this. Fortunately without significant financial loss.

I hope those who have lost a lot of money have friends or family they can talk to (even if they get a scolding) and are able to move on without too much damage to their day to day lives and mental health.

I had suspicions that Tom Joules wanted the share price as low as possible before he’d show his hand. If so, the chances of that happening were thwarted by a Doncaster businessman buying £1m of shares, followed by publicity which encouraged many opportunistic traders to buy shares up on the cheap thinking wealthy investors would be there to provide financial backing, pushing the share price up 300% from its recent all time low. But if you were Tom Joules, how would you feel if your 20%+ stake in the 30 year old family business had depreciated by over £50m and then, before you’re allowed to be the hero, a car dealer you’ve never met comes along and buys an equivalent quantity of your shares for a tiny fraction? Would it reduce or increase your incentive to inject cash from your personal fortune to prop up the business?
I like to think Tom Joules had a private chat with Mr Teatum last week and warned him to get out, but I doubt it.

Sold a chunk for decent profit at 83p.
Wondering if there’s any particular reason for today’s 10-15% rise?

How could protesters possibly know if licences have been awarded? If they’re aware of the pivotal point of Hoc’s future, more likely they’ll up their antics.

I don’t think the continued delay of news bodes well, so I’m out for now.

Same. Recklessly had over half my life savings here circa 7p, sold most at 10p and kicking myself when it went on to 15p but resisted fomo and now thanking my lucky stars.

No, and unlikely until debt from the WH acquisition has been significantly reduced.

I honestly have no idea. Going to stop posting here before I embarrass myself.

Listen to Pokerchips, he’s probably the smartest guy in the room.

Battyman - true, and that’s the main reason I’m still partially invested.

Gilbosconi - millionaires do become millionaires by blowing millions (though not usually their own!). Mike Ashley blew £150m on DEB before it went bust.

KingJoules - I’m glad you’re resolute but not everyone has access to the inside knowledge you hint at.

LagunaB - good luck with your investment. I would bear in mind that dealer Richard Teatum bought £1m shares before actually meeting Tom Joules, no guarantees that they’ll see eye-to-eye or he’s in it for the long haul, but it does inspire confidence.

Not meaning to stoke up fear but can the possibility of Joules using a CVA be compared to Debenhams?

In the run up to a CVA:

(from Sharecast news, February 12th 2019) “Shares in Debenhams surged 40% to 4.4p in the first half-hour of trading on Tuesday, having fallen around 95% over the past three years. Analyst John Stevenson at Peel Hunt said: "While this takes away the immediate pressure and provides a short respite, we believe Debenhams is likely to move forward with a CVA in order to reduce its lease commitments and store numbers, with longer-term financing also likely to be contingent on some form of equity raise."He added these prospect "may well secure the future of Debenhams...”

Shortly before the CVA were words of reassurance in an RNS: “Debenhams continues to make progress with its refinancing and restructuring discussions with existing lenders, Noteholders, and other stakeholders…”

and a Trading update on March 5th 2019 in which Sergio Bucher, Chief Executive of Debenhams, said: “We are making good progress with our stakeholder discussions to put the business on a firm footing for the future. We still expect that this process will lead to around 50 stores closing in the medium term.
"Our priority is to secure the best outcome for the business and all our stakeholders, whilst minimising the number of store closures and job losses. To do this, as we have said before, we will need the support of both landlords and local authorities to address our rents, rates and lease commitments. I would like to thank our staff - and all our stakeholders - for their continued support through this period, as we work to deliver a sustainable future for the company."”

THEN
Debenhams dropped it’s final piece of regulatory news on 9th April 2019: “Further to its announcement at 7.00 am this morning, Debenhams plc has requested that its shares be suspended with immediate effect, pending a further update.” (Share price at 2.04p and we know the rest!)

I don’t think shareholders will be wiped out in this case but I’m reevaluating the situation and have reduced my own holding to what I can afford to lose. With Joules talking about using a CVA, I believe the risk of worse case scenario for shareholders cannot be ignored.

I second that - cheers Trek. It’s been a good day, managed to buy another 500 shares sub-530p on the second dip and sell again for 543p. Now in profit with remaining 1500 shares and cash to double up again if necessary. Plan to read up more on APP this evening as today’s acquisition came somewhat out of the blue for me.

561.64p to be exact. Keeping a close eye on the price to buy more on any dips and average down further if possible.

Same. Doubled up at 540p and sold half those a few mins ago for 562p

Trek, I hope you’re right.

I’m buying more but I’m also thinking Paypoint may have paid too much for APP and if this perception is shared by others like myself it could depress the sp for some time.

What worries me is the short interest of less than a month ago (BennBridge, Squarepoint and maybe more under the radar) may be engineering a price rise before opening new positions. Lulling investors into a false sense of security at 100p+ for a while before selling off large quantities purchased in the 80p’s and profiting again on the way down.

Very quiet indeed. There should be a trading update soon. I think a market cap of £57m is too low for a growing, profitable company of this size, and I don’t really understand why analysts are so wary of the business structure and acquisitions. I’m buying anyway.

Good move by PayPoint to supply this data and hopefully encourage those who need it to claim support.

“PayPoint said just over half (53%) of the 800,000 vouchers it has issued have been redeemed, which means that households are so far missing out on around £27 million in support that would be paid by the UK Government.”

https://www.dailyrecord.co.uk/lifestyle/money/martin-lewis-energy-voucher-workaround-28377121.amp

Looks like business as usual for now. Maybe an RNS would’ve been nice but was there really anything to worry about? If Hochschild can get the protesters on side then perhaps there’s less risk of the permit extensions being denied.

https://www.nasdaq.com/articles/hochschild-says-protesters-lift-blockade-at-peru-mine-and-agree-to-dialogue

“The protesters had agreed to enter dialogue with the company on Nov. 10 but had "an attitude of threatening to attack the facilities again," Hochschild's vice president for public affairs, Jose Augusto Palma, said in a statement.

The mine was operating normally, Palma told Peruvian radio broadcaster RPP earlier.“

I’ve got high hopes for 888’s longterm share price but I feel uneasy about the recent price action, not sure why. I’ve gone with my gut and sold for a modest profit. (I have a tendency to sell too soon so chances are it will hit £1 by the end of the week)