Member Info for Spac3y

It was actually 500k a month in dollars hence the 4.8m£ that was being remitted home. So far the new Argentinian president has done what we all would have had on our wishlists, anyone saying the current moves in Argentina doesn't help rur is wrong. Leicesterboy I think that's a very good post, I dont believe we are seeing anything.like the 2m usd a month back from Argentina, my reason for this is simple, their would be no need for the Radix facility until June. With that said, any improvement over the 500k usd from previous is greatly received. In light of no news coming out ill reserve judgement until we get a clearer picture. PIs are buying, no one else which when such,a small float, it can move pretty quickly. Very much interested to see some decent information releases to give us all a better picture. Atleast the red number on my accounts improved :) lol

I think the potential for devalutation is weighing here...Afterall, tbh, Im not sure what EDS is holding, and what would be converted.....are they actually holding dollars....if not,40% devaultation which may indeed explain the drop in price. As with most of the LTH, I have just sat and watched the bb with nothing much to say, purely becuase, their has been a huge amount of drivel, and, to be honest, I couldnt be bothered to pull most of it up. Argentina have started off as I expected, and as I have said, a devaluation is on the cards and is needed. If RUR hold dollars, the FX de-reg doesnt actually effect them, if they hold peso, then, 40% devaluation to then get dollars out the country...I dont know if EDS hold in dollars or peso, but until it is clear, it is worth noting. BTW, if people think their is something illegal going on here, then please feel free to notify the authority, other than just posting on a bb. With this said I did ask the question on what sort of percentage fee woud have been achieved by IPC as I recokoned about 1.5%.......low ball.....I believe the going rate is around 3x that from someone I , more intune with those % , asked, and was kindly informed. The real problem is this right now. We are, and ,make no bones about it, using up every £ or $ of working capital going...Im quite sure the million we were due is in there. I am still very conserned with this....If with all the assets we have are so marketable, why the problem selling them..... Assets may be worth alot more than current cap, but right now, working capital means a hell of a lot more.....I am concerned Ill be honest and even with the current argentine moves, without a drastical improvement in cash flow, well, we are struggling

Got a leak all over it..

Interesting !

Jedi, The reason they have a value of 0.85p is because * Value is calculated by using the current share price multiplied by the amount held. Tudors holding is an old one http://www.rurelec.com/es/sala-de-prensa/notas-de-prensa/2008/93-media/press-releases-2009/136-holdings-in-company34

Kamel, Where we may see a differrence on the working capital requirements, if you look at my thoughts especially as of late they mirror pretty much what your thoughts are. GFD, the board actually have actually been quite clever with regards the OO. When you look at it, you see "In addition, Qualifying Shareholders subscribing for their full entitlement under the Open Offer may also request additional New Ordinary Shares through the Excess Application Facility." Okay, so were all fine here. As long as you take up your full application, you can effectively apply for as many additional shares as you want.....so in effect, if you have the cash, you can take sterlings allocation of their hands. Heres the kicker though..... "Other potential investors who are interested in subscribing for any shares remaining when applications (including under the Excess Application Facility) from Qualifying Shareholders have been satisfied in full, should contact the Company's Stockbrokers, WH Ireland Limited through a professional intermediary, or directly, in the case of institutional investors." "Other Investors"....so in effect, joe bloggs or company x can actually also partake for as much as they like by way of letting WH Ireland know that theyd like some. Any shares not taken up under the EAF can quite happily be bought by anyone else , if their interested.... As I have said before, as an LTH with over a 7p price, Im so far under water even Jacques Coustea couldnt help me :) Its a quandray for holders in at the current price; take up the OO and try and get a further return or dont take up the offer and well, Im not quite sure where we go for funding from there. In some sort of perverse sense, Ive atleast written off my investment so anything is a bonus so Im glad I dont have that quandry of chucking money after it. Now if only the Argentinain government would come out and say that they were doubling the monthly capy to 1m USD for cash outflows, that certainly be a help.....but sadly will take some time. Best of "luck" all !

The way I look at at the cash burn.is fairly simplistic..We received around 4.8m.us from Argentina..given we started and ended with nigh on £200k cash in bank, it put me at around 5.1-5.3m usd cash burn in the prior year, and Canchayllo worked through more than expected in that year. So around £3.5m including the overspend for Canchayllo. given we have gotten shot of it now and have been progressing Illapa, I am looking at a reduction n cashflow to around £2-£2.5m per 12months as of late hence my £500k.a quarter. The move out of London on registered office will ofcourse reduce overhead spend, but were still reliant.on outside consultation and accountants..as an accountant, were not bloody cheap and consultants as much so. I am.however concerned if Sterlings holding has not changed hand as I have said why pay say 2p, if like the loreal advert were worth it then its not sold for that. I so appreciate the questions and effort you are going to GFD, nice to see someone atleast trying to get some answers

Statement due to market tommorrow so we will see what Mr Forrester has to update. 1) Motor groups now adays are investing some serious money in developing sites. Vertu have been plumping several million into new sites as of late, I suspect motor groups will continue to do this (Although I wonder how many 90 year leases pendragon are sitting on). 2) 2% Benchmark for volume manufactures interms of new vehicles. However as we all know, Service departments with VHC`s and used car volumes now make more than selling new cars. Service plan penetration increasing allows motor groups a substantial working capital injection every year, Vertu probably benefit to the tune of £4m a year just from sitting on peoples monthl payments. 3) Unfortunatly, credit and products are becoming regulated to the point of strangulation. I guess it all depends how companies manage to manage this process. It requires a substantial paperwork exercise (who said paperless offices ? :) ) As VERTU expand they will again be able to retain higher % of volume bonues give penetration. Vertu outlook for the year looks like working the business bought in the last two years to add to the bottom line. Their will be some purchases Im sure, but their certainly wont be the expediated purchasing of underperforming dealerships as has been in the last two years. However, the uplift for Vertu is getting these dealerships to perform in less than the 3 year cycle to turn around an underperformer. If they can crack that in years 1-2 (So this and next year), then theirs a decent uplift to be had.

I wasnt quite so sure who you meant so thought id look for clarification :) 50p for Trevor would probably do it, 40p seems abit low, especially given hes just recovered the value in his holding since the bad old days. As theirs a new GT due , im sure hes looking for some cash to purchase another one to add into the garage. Given the 2015 market, PARC, and potential performance, 40p looks like selling itself a bit short to me from where it currently is.

It doesnt make sense for a takeover by VTU. Given VTU are looking to consolidate performance over 2015 from the busy program of purchases, both price and outlook in 2015 for VTU this is highly unlikely. I also doubt that Trevor would be happy to sell his shares at 40p, and given the improved profit/debt performance of PDG, it also doesnt make much sense. 2015 outlook continues along much the same as 2014, PDG have already said they are on the look out for aquisitions given anything under 100m ROC is better from them aquiring. One will need to keep an eye out stateside where they "wish" it would seem to expand abit more aggressivley.

positive set of numbers indeed. Very much inline with how the other groups are trading, I don't see any issue with a 70p price target personally. £24m for the year should be achievable which gives this a pe of only 8 at the moment. Very encouraging service plan retention increase of 64% which will also be very cash flow positive and a key service department driver over the coming years. Strong cash flow again and quite clear that vertu are delivering on turning round the under performing businesses albeit helped by a very buoyant market.

HB, I am doing very well , been very busy but just broken up for a weeks holiday and thoroughly looking forward to it ! Hope you are well mate :) "I have been in Motor Trade 22 years, currently work with seven franchises, no such thing as H1 & H2 bonuses"... Actually, you are very much incorrect, their are indeed H1 and H2 bonuses, perhaps the franchises you work with do not do them, but their are alot of manufacturer`s that do do them and are worth substantial pots of cash (if it helps, phone for example a Ford dealership and ask them about 1%...... as an example) In terms of double dip, their could very well be a double dip in the latter part of this year, many things contributing towards it, potential for emergency budgets after the 2 months after the elections with substantial spending cuts, Money markets reigning in, so many things it is actually quite brain frying ! Planterman, I would expect those car traders trading used in the industrial estate are possibly very busy, the used car market is holding up well atm and margin is also doing very well, so I wouldnt be at all suprised if that continues throughout the quarter. Bats, snow in january didnt cause 3 weeks of disruption, you are perfectly correct, it caused 2 weeks of dissruption. Coupled with a weeks dissurption in February, 2+1 =..... Feel free to make some calls, I have ! If PDG can hit new cars in Q2 and continue to keep margin and volume where it is in used cars, coupled with service ops delivering on their planned bottom lines, H1 could see them above expectations.... However, if your trading this short term, thats probably your goal, looking out longer than 3 months, H2 continues to look unsettled and Q3 into October will prove pivital for PDG`s full year results.

I think you fail to mention the reason that PDG generated a profit, a nice VAT provision that was tipped in. Had it not been for that, was it £16m ?, PDG`s bottom line would have equated to a loss. Equally, "very good first quarter". Yes, apart from 3weeks of poor trading accross the sector for the bad weather in the uk. Now moving onto Q2, April new cars accross the sector has gone dead...As with seasonality, and being "the easter holidays", one would see a slight decline in traffic, or mabye would you see a slight increase in traffic ? Manufacturers accross the sector are being cute, in respect of "because of the scrappage reg`s pushed into Q1", Q2 at the start and as a result of this is seeing a decline in new car reg`s. Is their actually more money and confidence around than last year ? Well perhaps in Q1 their was indeed, and in new car terms, the race to get a scrappage deal helped bolster the numbers. Its vital in Q2 PDG and all groups in the sector retain used car margin and a strong stock turn, it is vital that the aftersales op`s perform strongly and vital that in new car terms, it is kept very tight. With most manufacturers, their are the H1 bonus on offer, it is vital the H1 bonuses aswell as quarterly bonuses are achieved. Also, given PDG`s current bank position, working capitla requirements need to be kept to last years disciplines so that stocking costs dont get silly and that all stock levels are kept at an acceptable level. Moving to the end of Q3, double dip ? One thing for sure, will be interesting to see ! :)

Hope everyones well, OT, nice to see you still chugging away in here. I have been re-appraising my thoughts RE the sector as of late. I also note from some of the postings the "gone pretty well this year" remark. Q1 for PDG from speaking to people hasnt been as good as that comment would have people beleive. From a few calls to people, March indeed has been a strong month all round, their is no question on that. Over most of the manufacturer`s, from what I hear they have been very positive about PDG`s contribution interms of % of the quarterly market. What has however have to be taken into account is the fact that PDG lost around 3weeks in Q1 due to the severe weather in the UK. For all accounts January appears to have been a particularly hard month, and with the weather continuing into February, Q1 is fully reliant on a strong march period. March from my calls to people accross the sector appears however to have gone very very well indeed. Margin is up accross used cars, most service departments appear to be delivering as a whole on an increase in volume in new and used sales and retail has been quite strong also. For me, its not so much about Q1, or for that matter half yearly figures, the motor sector is skewed towards delivering 50-60% in the first half of the year, with the remainder obviously in the second half yearly. What will be interesting to see, and what will make the differrence for PDG, INCH et all is how H2 shapes up. For the double dip forecasts, it isnt in Q1, it is more than likely , if their is one to appear in Sept/Oct, so for all in the sector, H1 may be down slightly due to Jan/Feb, but if a strong H2 2010 can be achieved, then their will be a very decent upside potential interms of full year results. Very interesting times ahead for the next quarter, scrappage now at an end, new VED rates on first registrations, one thing is for sure is that if all the groups can deliver a semi strong Jan-June, Q3 will prove to be pivotal for full year results !

ITs in the finals. The 4.odd billion shares will come 400 odd million (Price will goto say £2.50 a share)

Abit annoyed because I thought about putting a june rolling long on on the 9th LMAO :) On a side issue, I think Inch need to have a word with whoever theyve had hedging for them this year ! I do beleive now is the perfect short opportunity over the entire sector for then next month. Happy Hunting

Look pretty much bang on the money. The 10-1 consolodation should prove interesting , no divi as expected and Id say broadly in line with analysts results. Now whats priced in already ? :)

I note the new VED AFRL costs are out and about, so what does anyone think of the new rates and how will they affect new car sales. Further to that, given that bandings is it H onwards will not be able to be taxed for 6months, but can only be taxed for 12, will this put of new car buyers. H 166-175 £250 I 176-185 £300 J 186-200 £425 K 201-225 £550 L 226-255 £750 M Over 255 £950 Interestingly, take a Ford Focus ST, which at 224 co2 will fall into £540 for the first years tax ! Potential for a strong close to March, with a "closer" in this form, and granted those buying Range Rovers really wont notice the extra money, but I would imagine their are alot of cars, sub 20K which will actually fall into the higher brackets.

I think you have to look further afield when it comes to inch over just the uk, they have a worldwide op, so whilist, as anticipated with scrappage coming to an end the numbers will increase, more importantly what Im asking what sort of margin are any of the motor groups making on "increased car sales". Interms of SP, I cant predict the future as some like to so wont, the most important thing is "its all in the numbers". If you look at the sector and the latest releases, again, PDG on current benchmark (due them having the latest up to date figures), PDG rose to what 5% on results day only to finish flat. If the numbers are "ittzy bitzy", then those that have bought in for the results will do the same. If the numbers are half decent and not "pumped up" by some random releases those accounting wizards hoard, then itll probably do the same. What is interesting to note, from my point of view that several of the SB companies are only accepting longs on PDG........Makes you wonder ? Until the numbers are released, Im sitting looking, their are many crystal ball announcers who give SP predictions, for me the sectors very difficult to call atm.

The scrappage scheme exit stage has already been announced. The remaining 50,000 places, that were divided out by share of scrappage has already been done. So about now, were down to half the 50,000 places left. Hope that helps LOL