Member Info for schwee

Town is unfortunately lumbered with an expensive debenture through to 2031. An equity raise would do nothing to address this albatross other than make the covenants more comfortable. Inflation will eventually come to the rescue but until then they will have to spin the various plates to keep afloat.

Our learn'd friends are going to have a field day.

Whatever the wording of the Rns, this was the old heave ho, otherwise there would be no pay off. As ever, a reward for failure.

Bdev prattle on about putting the customer first. But clearly not, otherwise the CMA would not be investigating.

NEDs, otherwise known as Christmas Tree Decorations, having totally failed in their duties, and unlawfully overpaying themselves in the process, now want a pay rise. What is the point of A of A if they can just be overriden on a whim.

Has anyone read how the excess applications were allocated?

Too much debt, half of which is short term from the banks. With the collapse in Town's income, the banks can name their price. So equity holders face being wiped out (see Intu/Hammerson).

Can somebody pl explain why a fully underwritten common stock issue of $1.25bn is $500m short.

It is always confiture demain with JMAT. The CEO has been over promoted from within. The Board will come to its senses eventually.

With conversion of 11m warrants, BOD must have the votes to yet their deal over the line. Question then, wiill Interserve be delisted as existing shareholders wont be taking up their rights at 15p if they have any sense.

Maybe not, but the GM on Friday is adjournable.

There is a fifth: Coltrane take control of IRV by increasing their stake to 50% + 1 share, or by forming a concert group with the other top 5 shareholders which would take such a group over the 50 per cent mark.

The silence of the non Coltrane institutional shareholders is deafening.

If the lenders believe they have the votes to pass the BOD's proposal, they will reject Coltrane. But if they are not confident, they will negotiate a revised deal.