Member Info for shamI89

Trades we can see that somebody is selling 500000?1000000 and 1500000 shares constantly. He could be a distressed seller or knows something that we dont.

D4E does not tend to go well for existing shareholders I am afraid and that is what is driving the share price down in my opinion.BOD should have made it clear as they left too many questions unanswered.

Not really in previous update they mention D4E swap, it did not look right as now company was in great shape to pay off existing debt and lenders were really keen on D4E swap and that would have diluted existing shareholders massively.A few people argued that it was not the case but company has lost 70% value since then.

It would give major shareholders who also happen to be major lenders majority needed to take it private.

So they are expecting to make 6/9 million profit this quarter, total debt is 120 million , looks like they can pay off debt in 5 to 6 years .So why impose D4E swap on shareholders?Company is in really good condition but major shareholders are pulling the strings and trying to play dirty.

D4E was not needed but major shareholders were very keen on it to dilute existing shareholders massively.

Worth a flutter at these levels, problem is that it is very illiquid stock and a low volume is needed to move it either way.I thought it hit the bottom at 30 and now its trading at 20.05. It is not really popular among pis but fundamentals are really strong.

MW did say that these lot were taking out loans against equity to buy more assets at inflated prices, so they were overstating profits to increase equity value, lenders were happy to lend them more money as long as equity price keeps on increasing.

Do you understand what liquidity crisis is? In simple words they are short of money, but hang on a mintue what has happened to all that cash in the banks which was about 500 million and company was forecasted to generate 400 million profit this year so that equates to 900 million.Guess what that 900 million has disappeared and company is carrying over 2 billion debt.

RNS again company is talking to its lenders to allow the company to have access to 2.0 billion facilities and not to pull the plug, there are some hints that company has to pay some other loans which are due now becuase major shareholders nolonger own 30% shares.

Would be wiped out and company is facing "liquidity" crisis , bondholders own the company now and there is no value left in equity.

Everything I said last night is RNS, Bod has been lying about cash and profit or ex major shareholders had taken out loan under company's gaurantee which can be triggered now as they no longer own 30% shares. There must be some clauses which company must comply with, otherwise they have to immediately pay back the loans.

I sold eua at 1.07 and it went on to hit 7.02, similarly I was in orcp and sold it way too early at 0.84 and it hit 1.60.But you to have a strategy in place, I was trading carclo and very same time had the chance to exit my position with £ 500 profit but did not take it and ended up selling it at 1500 loss two days later.

I knew a guy and he was one of first guys to cause "p&d" he did it to quite a few shares and made big money.Heleft trading to start a buisness and that did not work.He had to come back to trading.In this game you are doing really well if you are getting 7/8 calls right out of 10.

Adzy I think.

You are still young Mrd , I lost 80% of my portfolio more than once but only started trading in 2010.Problem is that investing world has evolved a lot. Wil cat oil drills were a trusted way of making money if you can get in early and get out just before results. They are not that popular these days.I remember oil and mining stocks crashed around 2014/15 and there was some real money to be made at that time. I am surprised that an experienced investor like you did not diversify?

I have never ever shorted a company in my ten years of trading.But lets see what happens though.Results are good two months away in my.opnion and suspension would be lifted after results.

What about if they don't pay these debts and company has to pay these back as they provided the gaurantee.Why did they not confirm the cash level and what were irregularities?

Adzy you did not need to create a new account to argue with me , however banks and bondholders clearly know more than me and you and that is why bonds are trading at 53.7.However rest assured that a bidder wont make a bid until full audited results are published and if somebody wants to build a holding he would do so after this too.

We dont know the full sketch but get few hints from Freeh Report and these dont go too well for shareholders as they have found some unauthorized loans, some gaps in statement and are unable to confirm cash level. Company is seeking debt restucring advise today .I am 90% sure that they have found problems with cash level and actual profit/debt.