Member Info for shamI89

Why have they been in discussions with company regarding refinancing for sometime then.If company is in breach of convenants then rest assured that there is something seriously wrong with liquidity.It is not as simple as some people are making it out to be, bondholders would be monitoring everything and they would want to protect their money.

Hahahaha these lenders/bondholders hold bonds that mature in October 2026 and they are in talks with company to restructure these bonds.

Happy to debate but you dont have anything to say icecool.Todays update has put a massive question mark over everything.You can no-longer these clowns.It wont surprise me if Sidara decides to not get involved in this mess at all.

Share price if they walk away than bondholders would impose a debt to equity swap or rights issue.There is no way they would let these clowns run it to ground and then pick up pieces.

I think he took a large position around 60 and cant stomach this loss.Sidara is interested in some divisions and they would want to sell others to pay off lenders.They will only make an offer if theybelieve buisness can be turned around and pay off debt.If they believe debt is not manageable then they would walk away and at that point bondholders would force debt to equity swap or rights issue.

Market knew about these "historic issues" but it still pushed share price 40% lower.You are clown icecool.If Sidara walks away then refinancing will wipe out shareholders.There is no way lenders would let restructure bonds without it.

Any equity value is linked to Sidara making an offer, if they walk away than refinancing would wipe out shareholders.I cant see shareprice going anywhere until Sidara make their intentions clear.It is trader's share and traders often tend to get slaughtered in these sort of situations.

You need to read that February update how can you say that they dont need any money when they are expecting negative cash-flow and on top of that can you trust any figures given by BOD anymore?

@Icecool you are completely ignoring the fact that company needs money and that is what drove the price down.

Another possible scenario is Sidara had made an offer at a condition that review would uncover any nasty surprises.

An extension wont do company any good I am afraid as it needs money and once it gets suspended things would get out of company's hands.50/50 from here, Sirata can walk on today's update and company wont entertain an offer post refinancing.Any takeover would need to be approved by bondholders.Right now Sidara would need to pay 1.5 billion debt plus shareholders and on top of that it would need to inject some cash into it as well.Is this buisness worth 2 billions?

Company needs money and if shares get suspended then shsreholders would have to brace themselves for equity wipeout should company go for refinancing.Right now Sidara can walk away if they dont like what they see, or can ask for more time or make a low-ball offer.

Lol let Sidara walk away and we will see who is talking "rubbish".

They will need to act quickly, if they walk away then it is over for shareholders and refinancing would wipe out shsreholders.

Sidara very soon, they would be going through details to come up with a decision.Either way shareholders will find out soon.

If they walk away from this then equity is worthless.

@Chartarex not long to find out I guess lets see how market reacts.I remember Flybe had four interested parties and due to debt BOD accepted a nominal 1p offer.Either way I cant see this dragging out for longer, company needs cash so Sidara would need to be quick.

It is talks with serious lenders about refinancing that shsreholders should be worried about in my opinion.If Sidara walks away then refinancing can heavily dilute shareholders.Sidara got involved as they sensed that due to cash shortage a low ball offer would be accepted.

It is not equity they have to buy, they have to pay lenders first and may have to inject some cash into buisness.Best outcome for shareholders would be Sidara making an offer that can be accepted.Alternatively company would need to raise money and that can heavily dilute existing shareholders.Given debt level and cash requirement I cant see Siadra offering any premium.

The way I see Sidara might have involved and offer they made is around current price.