Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Fosun suggesting trouble....that could place tc in administration. Vultures will get to pick the bones.
Invest2progress.
So it's that easy? Really!
You're wasted here mate.
Part email reply from alex at ir.
"In the absence of a deliverable alternative proposal, with the appropriate financial backing, and which sufficiently addresses our capital structure in the time available, we continue to work on the recapitalisation proposal we announced on 12th July."
The fosun deal is extremely well advanced with ALL stakeholders, banks, etc, etc...
There is no bid. Only a rescue deal.
Everyone invested will lose. I've lost everything to this shower of ****3. The share price will eventually be marked down to nothing. Better to salvage something than practically zero.
Amers..you are setting yourself up for a disappointment.
Just read this else where, media headliner by The Sun online
Ps. Tui, IAG and DTG share price falling over too
What happens when the shares are diluted?
What will the price be, any guesses lads?
Increased to Total 9.46%
No need to worry Amers?? This is sh wipeout confirmation.
The Guardian
www.theguardian.com/business/2019/aug/11/tui-brexit-boeing-blistering-weather-road-trouble
"It would come out of auction HIGH......then trade may send it higher still.
Generally speaking a bid announcement will state the offer price, if other bids are likely, it may go higher."
................................................................
Has someone hacked your account ?
Long aution then around 40% down. Wild guess.
I saw this last night and read it, but unable to access it today as only allowed to read one article per week....
9 AUGUST 2019 • 5:43 PM
Thomas Cook is tapping investors for an extra £150m as it strives to seal a rescue deal with Chinese conglomerate Fosun.
The travel agent has reportedly asked bondholders for the extra money. The funds would be in addition to a £750m package provided by Fosun and Thomas Cook’s group of banks.
Other may not have seen it.
Unfortunately, that article spells out what is going to happen. Sorry, but it is what it is....we have been screwed.
For full article, see Travel Weekly out 9th August .
The reality for Thomas Cook shareholders
Fosun outlined its plans for Thomas Cook last week in a series of meetings with creditor banks and bondholders.
The UK’s Mail on Sunday newspaper reported Fosun plans to attract more Chinese visitors to Europe and will establish new destination management organisations (DMOs) to assist Chinese visitors in destinations such as Egypt and the Greek islands.
Fosun also intends to increase Thomas Cook’s winter sports, adventure holidays, city breaks, music festival packages and sales of Club Med holidays and develop the group’s hotel brands.
Fankhauser told German trade magazine FVW this week: “I can rule out Thomas Cook getting a Chinese look.
“We have worked successfully with Fosun for four years. The Fosun management values the Thomas Cook brand.”
A group of Thomas Cook’s bondholders are now in negotiations with Fosun and Thomas Cook as completion of the deal moves nearer.
Fosun is not proposing to buy Thomas Cook’s shares. It proposes to recapitalise the company in a deal with the banks. Fosun is not going to buy up the recently purchased shares.
Thomas Cook’s shareholders, new and old, stand to lose all but a nominal holding in the revamped company – likely to be no more than a single-digit percentage share of the Thomas Cook plc which will be owned by the banks and bondholders.
Shares are available for Kockar and Rodionova to buy because the big institutional investors in Thomas Cook have been selling down their stakes.
The purchase of those shares has caused a small leap in the share price in the past fortnight and this small-scale volatility may continue until the final deal is laid out.
It may attract the interest of the odd investment analyst. But it’s irrelevant in the scheme of things. The real news will come in September.
When Thomas Cook announced the deal last month, it noted it was in “advanced discussions” with Fosun and its banks. It is hard to see the deal being derailed by the odd outside punt.
Fankhauser acknowledged then that the deal would not please shareholders.
“This is not the outcome any of us wanted for our shareholders,” he said, but added: “This is a pragmatic and responsible solution which provides the means to secure the future of the Thomas Cook business for our customers, suppliers and employees.”
That is the reality.
Reuters now stating the same and referencing FT.
https://uk.reuters.com/article/uk-thomas-cook-grp-investment/thomas-cook-in-talks-for-further-150-million-pounds-rescue-ft-idUKKCN1UZ203?il=0