Member Info for Stretchtarget

DC, quite agree. Also when it’s not in use there will be a non-utilisation/commitment fee and that probs all wrapped up in the same cost.

Unlikely to be drawn in full continually, banks don’t like that especially now.

Just a pure assumption but let’s say £325m drawn in full at base 3.5% and margin (I’m guessing) might be 200bps so 5.5% all in. That would be interest cost of 17.875m pa.

Wolf, also depends when it was negotiated - may have been 5 years ago unless you meant 18 months ago. I agree some allow it but depending on the size of the banking group some will likely now say no due to SONIA benchmark operationally.

You were lucky. My most recent this year for more than $1bn equiv wouldn’t allow it, fought like hell to keep it, unsuccessfully. Anyway a company can have many utilisations so always repaying when funds not required.

That interest cost does imply not used too significantly imo.

RCFs are usually committed facilities and unsecured - all the ones I’ve arranged over decades have been. Drawdowns in current days for 1 month, 3,6,(9),12. Used to be able to draw for 1 week for optimising cash management but banks don’t like that now in post LIBOR days.

And to add the demographic is such that many don’t have mortgages and less exposed to high energy costs etc. They are going out again, and reasonably priced fashion is one of the areas where money is being spent. Not to mention the social media side of things. Management are incredibly well incentivised now at various inflection points from 95p all the way up to 395p.

Not really new news though. We could do with a contract win announcement.

Nice gains today, let’s hope it’s sustained to retarget the highs, only a matter of time imo.

Perhaps we’ve had a bit of an overhang here or position building since results. But good to see the momentum continuing.

Great summary, thanks for sharing 1Pencil

Autonomy, yes around midday when the news came out. But good for others to see the link.

Personally I’ll feel happier to see a break of 300p to know those highs are back in sight.

With a good tail wind there isn’t any real resistance until 150-160p back in May 2020

And there we go finally a decent breakout move. Onwards and upwards imo.

That was meant to be a wink not ??? I have completed doubling up

I’ve been doubling up ????

Stronger day today, reversing the fall. Hopefully we’ll be breaking this stubborn 112-115 area soon.

I was only listening in but positive in my opinion and today’s knee jerk reaction looks overdone. I’m here for a multi-bagger.

Hi all,

New here although I’ve been reading for some time. For the tally I’m holding c. 102k since March this year.