Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Yes but following the article on Southend Airport in the Southend Echo they have said this :-
But the airport has also hinted at additional "exciting" route announcements "very soon".
The announcement comes as the airport looks to a "thriving" future following its decision to enter into a recapitalisation agreement with Carlyle Group and Cyrus Capital Partners.
This move enables London Southend to "close the chapter" with its current owner, Esken, paving the way for future growth and investment.
Even when a purchase order goes through you will see above at 4.17 this was actually a buy. The market indicator is obviously confused with the volatility, but the Uncrossed trade has indicated the current price with a late trade adding to the purchase orders.
John Upton's comments have helped where he thinks the Carlyle approach is actually good for the airport to give some long term security, and even if Eskens share is less or at 50% then it will still benefit shareholders in a fair world I suppose at todays low,low price, for such a potential future asset. DYOR,GLA.
Just been into my broker a/c and can see some interesting things going on here. Sharecast have issue a summary of goings on where John Upton the CEO of Southend Airport has actually said the proposal is a good thing for the Airport, and my own broker is quoting that M&G are one of the holders of shares now in Esken which I did not know. Now they are no mugs, whilst Tosca fund have been building a larger stake. Interesting perhaps the events are becoming more positive even if Esken own 50% it might mean with expansion this share price will still benefit.
Slift -yes Carlyle see an opportunity but Esken tell us this is a proposal shame they could not come up trumps with an alternative, however all is not lost as we have some very big players on board who will not want to lose their share or control.
However I can see both sides and if Carlyle do succeed shareholders here in time might in fact benefit as they also control a major N.Y. Airport and one could see a link between the two which might be a master stroke, taking over capacity away from the likes of Gatwick and Heathrow.
I finding this interesting and will wait until this thing plays out and we should see more announcements and hopeful alternatives very soon to consider.
This could be moving up soon, as Lloyd's reports customers deposits increasing, debts reducing, no doubt due to higher wages combating the reducing inflation figs. More people have spare money in their pockets according to the bank. FTSE Appears to be reacting positively to the news which should start filtering down to Uk companies (about time!) GLA, DYOR.
Agreed actually Tosca Fund are currently the largest shareholders and their stake has frown to over 29% they could easily now go over 50% and take the fight to Carlyle. They also have some very experienced Fund and Asset Managers from backgrounds ranging from JPM to UBS and others and are also known for their own aggressive actions. Carlyle might have a fight on their hands. This share is currently up 29%. For cashflow the position is getting better everyday as more airlines chose London Southend for their new routes. Just take a look at the Southend airport web. currently on offer flights to Milan starting in a few days.
I would like to think the largest shareholders will be pushing Esken to protect their asset. The usual way for American Comps is to hit hard at first and then settle somewhere in the middle. i.e. High Ball/Low ball scenario, etc of negotiation. However as has been said if the UK Lawyers are so confident that Carlyles Lawyers are wrong then they should be giving a very hard response and disputing this. I would like to think a Company running at International Airport such as Southend will also have good Insurers who will also have good lawyers. In Insurance as said before the way forward is to approach the court and ask for a legal "standstill" which gives more time to discuss and consider under less pressure where all parties might be able to come to an out of court decision. If Carlyle were in the states and are wrong no doubt punitive damages might be due to Esken-who knows which way this could go. However the courts would need to give a fair and balanced view on a business recovering post pandemic so I will hang around here and wait for developments. DYOR but to me it is not worth selling any shares anyway but might be worth buying some more when we have some positive (if) news. I am quietly confident but may be wrong no one gets it right every time but I do have a feeling this could turn out alright in the end, even for small holdings such as I have.
Maybe Schroders, Royal London, Hargreaves, & HSBC and others may have something to say? Let's face it after the $30 Billion results release for the year from HSBC they could cough up the £200m to pay off Carlyle in their sleep.
As I say we have not heard that Esken will even accept the Carlyle proposal in anycase and they have said all along they disagree with the Carlyle findings, especially at this time where the Airport is expanding its operations into and across Europe's major cities and therefore its income is growing post pandemic-they just need more time!
The Carlyle deal is not done yet, and I am pretty sure the likes of the major existing shareholders where they are some big names invested will want a recovery in what they have paid, etc. Maybe the likes therefore of Schroders and Royal London, etc and others who own shares will come in with an alternative proposal to look after their own as well as existing shareholders interests? Regret I am just a small holder (otherwise to me) looking at the potential this is a snip!
See a rescue afoot from the UK Gov, or from someone like Prudential Or Phoenix where £200 m to repay Carlyle Group is small beer. Otherwise I can see existing shareholders will be asking for the Esk management to explain themselves as they have not been offered the protection they should have. Or an existing shareholder might take up the reins? There are still some very large investors behind Esken going back to the Stobart days who deserve more loyalty rather than a quick fire fix. Courts would also provide more time too so how about a standstill to protect shareholders rights!
See a bidding war coming for this stock as well as a few more in the market that look so cheap at the moment. The timing for the USA comps couldn't be better with the fed likely to lower interest rates soon, and so now is an opportunity.
I have owned these for some time and have been waiting on this sort of thing for not only Curry's but for other Uk stocks too. I also hold others that on the face if it look just too cheap where earnings have recently turned for the better. GLA.
Last RNS -shows Aberforth buying for Nortrust an increased stake build to a 10% position. Much more and they will have to notify of an interest? Could be interesting sammacleod and worth pointing out. GLA
Offer on flights by AeroItalia from Southend to Milan now being offered at a Discount for 5 days. Worth a read!
www.londonsouthendairport.com/news/20-off-flights-from-london-southend-airport-in-limited-sale/
Seems like the Airport is still operating as normal in fact is expanding! Interesting! Hopefully the management will come back very soon with an update on the political scene with Carlyle.
For the Esken 2nd Airport at Carlisle I am not sure of any terms of any loan agreements for Southend, and so I would suggest the word Possible sums this one up. Certainly any Airport one would think it is worth more than the figs suggested, especially as they now seem to have a large infrastructure fund willing to help it expand, etc.
We should be getting another update on Southend soon too, as no doubt the Lawyers and possibly even the Court has been busy. I would suggest whilst the terms are being digested that the COurt will decide on a "standstill being put in place" to enable the Court more time to see if the claim against Esken from an American fund is justified. Presume Uk courts have jurisdiction then the terms of the agreement have to satisfy reasonableness, fairness, without unfair contract terms and be balanced! GLA as even a Standstill will show Esken do have some defence.
r
London Southend investors link is at :- www.londonsouthendairport.com/corporate/media-centre/
To me the value is in the Airport at Southend but they also still own that at Carlyle which was proposed to the Govt. recently as a Freeport to help serve Ireland.
The truth is Southend Airport is still being regularly used with expansion in flights and the best way to keep up to date with this is the separate web for Southend mentioned above. Where most recently they have expanded to Denmark/Italy/Spain/France/Switzerland/Holland ..... so they now serve multiple locations in Europe, and have more than one Airline operating. Risk here yes but if/when the news with Carlyle Group turns positive this thing will rocket. Not much to buy a few just to wait and see! Time will see but there is no gain without risk. DYOR/ GLA.
Ex-F -You really need to keep uptodate. The Red-Arrows have been based at the Airport for last summer (you need to refer to Southend Echo local reports). Not sure if still there to be honest. Also I read that the RAF have been looking into feasibility of an extended usage for the Airport (due to its proximity to London as a good defence position) again all mentioned in the press.
Prudential Assurance, Phoenix and others are major investors in Infrastructure projects and Southend if worth some of the values discussed (including those from Carlyle group) would be a sound investment so I see not excuses for an approach by Esken to those whom would see £200m as a drop in the Ocean. The Airport would be worth a lot more without the loan in anycase and would reverse the negativity. DYOR and GLA.
Perhaps rather than the Lawyers wanting to continue to dispute (which suits their pockets) with a compromise proposal, maybe they should be "robustly" seeking shareholders approval to obtain £200m to repay the whole loan in dispute and then this will save costs, and allow any potential sale to go through if we were as close as they have said previously. I am sure they can obtain the money from some of the major shareholders or the UK Govt. who have RAF planes at L/SE if there is good reason to do so, as this is not only for the Countries interests, but also for the sake of the local community. Something that Carlyle have said they would like to improve under their management? It does appears as if the Value of the Airport is far in excess of £200m so get on with it. IMHO.
They can restructure when lower rates arrive and have come out of the other side of a World Pandemic where growth and returning customers is building momentum, notwithstanding the fact they own 40% of a joint brewery venture with Carlsberg one of the Worlds largest brewers, and that is signing up larger customers than even Marstons themselves to bring about economies of scale into brewing. In fact the future her is very bright but these things can take time to gain sentiment but it will come. We just need to be patient but I agree at this price they are ripe for a takeover, which again might be coming when cheaper loan rates appear.
Looks like the Carlsberg/Marston brewery is launching a new beer 1664 Blanc -with echo's of Champagne for Uk fashion week and it is available later in draft, but also in the Supermarkets. Marking the 360th Anniversary of the 1664 Brand.
Would love to see soon the Brewery sales figs for Christmas however to add onto the Pub figs. Shame we did not get both together!
www.carlsbergmarstons.co.uk/newsroom/carlsberg-marston-s-brewing-company-announces-the-uk-launch-of-1664-blanc/
Maybe the Carlsberg Marston partnership with new contracts signed up to double in size distribution should take over Fullers then too and amass even greater economies of scale.
Remember Doug that all you have recently seen are the pub figs for Marstons over Christmas and the New year and NOT their brewery figures that will also take into account all of the home sales via, Amazon, and the Supermarkets and the like as well as to the Marstons pubs themselves that we have seen have done very well!