Member Info for shamI89

It is a steal but this company is in vulnerable situation and they are taking advantage of that.

They know fully well that company needs to demonstrate to lenders that it has cash,so decided to dangle a carrot in the form of cash injection.They can pull out leaving this company high and dry and refinancing is on cards.They can lower their price.They should have injected some cash to show they are serious,they have not done irlt.

I agree they could have injected some cash to show they are serious.Refinancing is on cards now as there is no way lenders would let these carry on without raising some sort of money.Equity only has some value if Sidara goes ahead with bid.

But share-price was lingering along 22 so market was factoring in extension.As far as audited results are concerned they can take some time, it can be two weeks or two months.Nobody knows.But company is in talks with lenders and a cash injection would have helped.If Sidara pulls out placings and rights issue would wipe out existing shareholders.

I checked most of their assets are intangible and good-will assets, they do have some value but you cant put on them.They may be worth more or less nobody knows and cant be sold to raise money immediately.

So is it ideal condition to be in when you have 1.1 billion debt to pay?

In very same update you have figures for 2025, I thought you are talking about 2025.For 2025 it is nwgative 150-200 million.

Yes and in very same update you have negative cash flow of 150-200 million for 2025 which means company wont make any profit this year and total loss would be between 150-200 million.

Hahaha you cant prove it.Oh dear so you and Icecoor are making these numbers up again.

Read 14 Febuary RNS it is in there, negative cash flow between 150-200 million.Where did you get this 450 million from?

Ebidta is not 450 million for this year it is minus 200 million, company wont make any money and was looking to sell assets to cover administration costs.That leaves nothing to pay lenders.

Offer as any other scenario would wipe out shareholders!

To prove that company had 450 million in June 2024.

Where did you get that "450" million from,I am 100% sure that actual cash was 150 million on 30 june 2024.If company did have 450 million cash there wont be any problem as with 600 million cash it would be really easy to refinance debt!

He reckons that management has deliberately misled the entire market,institutional investors and "real figures" have not been released.

CEO was slow to act,he should have sold some non-core assets some time ago to raise some money.He simply ran out of options when he decided to talk to lenders.

Icecool may be you can tell us how much cash company has and what needs paying.You dont understand these things as company was in talks with lenders about " refinancing" and breached convenants and you thought they did not need to worry about it until October 2026.Management must have gone through every possible scenario and they had professional finance people to guide them through as well.This is best outcome for shareholders as altetnatively lenders can put company into administration and sell off assets to recoup money or company can refinance through rights issue and both of these scenarios would leave any value for shareholders.

So may be another extension until accounts are sorted.

Oh dear,Luca was here from 7am to round about midnight to discuss his "insignificant investment" and then got scared and sold it.This loss is not big enough to affect him but he has to boast of his earnings.

Three possible scenarios here, Sidara might seek an extension, they put in a conditional bid or may decide or may decide to walk away.I dont think they would walk away but there is a small chence they do.Good luck to anyone who decides to stay in.