Member Info for TerryM1

I hold some with II and it does not come up in the search but if I go in via my holdings and try to buy or sell I get

"No regulatory documents available

The regulatory documents required for this order to be placed online are currently unavailable. Please call us on 0345 607 6001."

Very poor show, hope this get resolved soon as getting tempted to buy more.

JIM800

"Enjoy all your buying and trading for peanuts around $14.35"

I have made £17,500 doing this, perhaps peanuts to you but a wiping out a reasonable amount of my loses, so yes I did enjoy it and certainly does not make me miserable as you say I am.

"sometimes buying low and holding might (see I’m not dressing my opinion up as fact, you may wish to try it sometime) be more profitable, looks like over $15 today"

If you read my posts and you will see I do this from time to time, I adjust to the conditions unlike you who can only see one way, hold and hope with a few buys and sells perhaps. I keep everything in a spreadsheet and when I add up my trades they have made far more with the same cash than just holding, again simple maths. I am using maths and facts not emotions. As I have said I do not want to risk too much cash as don't want to be holding too much if Rusty comes out with another one of his cunning plans, with day trading you use the same money once or more during the day and most company announcements are made outside trading hours cutting down risk, also you get the overnight interest on the cash, it is something I guess you don’t understand it is called risk/reward.

"I’d probably use a non-emotional phrase like shareprice has decreased by X”

OK, share price decreased by 50%, how's that? Looks liked trashed to me.

”your insistence that Rusty has done this on purpose is stark raving lunacy."

Don't think you read my posts or you don't understand English, I did not say he did this on purpose, I said he did not care as you well know or perhaps you just prefer to misquote me for your emotional rants. Anyway do you think Rusty did this by accident, incompetence or what? All in a good market for DEC.

"I have t denied any facts - I’ve questioned your subjective opinions"

I have just used facts, but it is just these facts don't suit you view of the world.

"I have t denied any facts"

SP gone from £22 to £11 and you say it is not trashed looks like a fact to me.

"Quit the overly emotional subjectivity and you’ll be taken a bit more seriously - though possibly not by Eeyore"

Frankly I don’t give a damn if you take me seriously you have nothing to add but insults and emotional rants, so far today we have "you’re a numpty", "stark raving lunacy", "Eeyore" etc. Plenty more from you in the past.

I just work of total return unlike you who gets very emotional when this is pointed out and it does don't fit the world you want to live in and attack anyone that does not align to your view.

JIM800

Should have added

"stupid phrases such as “trashing the share price.”

So SP was equivalent of £22 before this started and was a high of £28.00 at one point in worse times for DEC, AROs green issues, no US listing etc. SP now just over £11 looks like it has been trashed to me, add in dividends were 3 times more. What would you call in a temporary dip for over 2 years or market correction when as said similar companies are up in that timeframe. The one quoted by another investor up a lot. Get real!

JIM800

“F me you’re a numpty! Read the RNS it’s not a loan it’s secured notes for 4 years so that part of debt can’t be repaid - though other debts could be.”

Insulting people means you have lost the argument but bring it on, try an insult generator to do a better job, I find this quite amusing.

Let’s try another way, money not spent on BBs could be used to buy back part of the loans. Why is it so difficult to get through to you BBs cost money, money was raised from loans and you cannot see they are linked, really!

Still waiting for some maths that proves your point this does not work!

“Saying everyone who disagrees with you is supporting their local football team was stupid the first time you said it - utterly pointless the 23rd time.”

No I am saying anyone who repeatedly denies the facts is, look in the mirror.

“You’re obviously the one too emotionally involved as evidenced by your continued repetition of stupid phrases such as “trashing the share price.”

You’re living miserably in the past, I’m saying the future might be better (not definitely will be, but probably will be based on my interpretation of the facts).”

The thing is I am not emotionally involved that is why I can see the facts, if you are it will lead poor decisions. Which interpretation of the facts do not have the SP trashed and the dividend down by 2/3s and you have not lost money, I am not the one in denial.

“You’re continually offering opinions dressed as facts, I’m offering opinions - that’s a key difference!”

See above

“If you’re happy being miserable please crack on - but you don’t have to spread it about. If Eeyore tops himself you’re partly responsible!”

Read my last post, I will repeat part of it in the hope you can understand it this time

“I am not miserable losses are part of the game”

“If it stays down and range bound quite happy trading DEC as a way to eventually get out of the losses and very happy if it goes up to get out the losses a lot quicker, win win.”

In other words I am happy to make the best of either situation.

“Up at £11.15 despite HH falling to 2.3 - surely that must cheer you up a bit”

As I said read my last post, stuck in a low range I win by trading, goes up I win as my losses are cut quicker so overall happy, it is up now but don’t get too carried away, let’s see what NY does, if it goes up more great.

To put me in the same position as I would otherwise have been by not investing in DEC and trusting Rusty I need the SP to be over £18. I am sure other investors are in similar positions and from what you say somehow this makes you happy.

You are the only person I know who is happy making losses. Before you say anything stupid simple check, are you up or down at the current SP, not hope that perhaps some time in the future you might just break even or dare I say it make some money, very simple test.

Jim800

"Repeat, yawn, repeat, yawn!

Saying the same thing over and over doesn’t make it correct, it just makes you look obsessed"

Pot, kettle come to mind, however given my losses, you losses and many other peoples losses does make it the case, just facts without emotion.

Still not seen any maths that prove your case.

Let me try something else, less BBs means the money saved can be used to repay part of the loan so therefore the loan would be lower, can you understand this or you will you say this is incorrect, if so show me the maths.

I am not miserable winter or summer, losses are part of the game and I am sure JC01 is not with the money released from DEC as it is doing better elsewhere but that does not stop me from being very annoyed by a CEO who trashes the SP and dividends for no good reason.

If it stays down and range bound quite happy trading DEC as a way to eventually get out of the losses and very happy if it goes up to get out the losses a lot quicker, win win. The difference between us is I accept reality and adjust to it you bury your head in the sand and only come up to when someone does not agree with view to use fact less arguments based on emotion to justify your case and is unable to do simple maths.

JC01

Your are right or just won't because cannot mentally handle the losses so ends up divorced from reality, I can't explain this situation in any more simple terms. As I say investing in a company for some people is like supporting there local football club, no mater how bad the results are they just can accept any criticism of the team or the reality of what is happening.

Jim800

I showed you how it works in such a simplistic way any junior school child could understand this. It is not my negative view it is pure facts, very very simple, less money going out less borrowing required, this loan is not hypothecated in any way including on how it used. Also no matter what H1 shows does not change this one jot, I know you somehow think H1 will explain what is happening with this and it is all some cunning plan to justify this course of action, I hate to tell you it won't, another very simple thing to understand no mater what the FCF is it is irrelevant to this situation. How about you do a little bit of basic accountancy studying instead of posting nonsense then it will then become very obvious perhaps even to you.

If you are so sure then show me the maths where BBs take place and they don't and then need the the same amount of loan given other cash coming into the company is the same and all other outgoings are the same. It is very very simple maths there are only 2 variables here which are dependent on each other, the size of the BBs and the size of the loan, they are on the opposite sides of the equation more BBs one side requires more loan on the other as all other variables do not change on the size of the BBs as the loan is way above the size of the BBs for many years. Therefore very simple maths the size of the loan is directly linked to the size of the BBs.

Broomtree

"$14.60 on the close"

Looking at the way the SP has gone today it shot up to $14.50 and then in an hour went down 5 times just below $14.50 each time went straight back up again, after an hour went and stayed above $14.50 for the rest of the day, given this pattern would not be surprised if todays BBs were at set at $14.50, will see tomorrow morning.

It is no assumption on the BBs, as I say DEC borrowed $300m just before the current set of BBs started, no matter where is perceived the cash for the BBs came from the loan would be less to put DEC with the same liquidity if BBs had not occurred, in fact the exact amount of the BBs.

JIM800

As I have explained before DEC runs one set of accounts, the cash is pooled, if you spend lets say $40m in BBs it has to come from somewhere, in this case it must be from the loan. So DECs cash starts at $x so it is $x + cashflow + the loan - $40m BBs, if no BBs then it the loan would be $260m to leave DECs cash in the same arithmetic and capital position but less future expenditure, 9.75% for interest payments against around 8% dividends. All just very simple arithmetic and accounting and nothing else makes sense and I really do not know why you can't understand something so simple..

Worya

"This gives confidence the capital position is strong unlike previous BBs which were fairly weak and not maintained."

It is good to see that at last there are as you say "quite chunky BBs" but this is coming from the last loan of $300m at 9.75% and does not reflect a confident capital position otherwise why take out a loan of this size at this rate, at the very least if there was confidence in the capital position then DEC would have been able to negotiate a much lower rate or not have needed any loan.

JC01

Yep BBs only thing stopping SP from falling below $14.35 and without this a downward trend would no doubt set in, sellers must have worked out by now only sell at around $14.35 or above so stuck in a range from $14.35 (as no sells large enough to swamp BBs) to $15.00 for now. One small good point it is giving me a trading opportunity which I can keep repeating sometimes 2 or more times in a day.

For TU to push the SP up we must have significantly improved FCF, another spaghetti set of accounts created to confuse the market will not wash. If FCF not gone up a lot then this disaster is going to become a lot worse.

BBs continuing with more shares required to hold the SP up

Monday

Shares Purchased 53,426,Lowest Price $14.33, Highest Price $14.35, Average Price $14.3485

Tuesday

Shares Purchased 24,830, Lowest Price Paid $14.24, Highest Price $14.35, Average Price Paid $14.3234

"The fiscal regime cannot get worse"

You think, with this lot in charge and tax raid budget on the way and now being run by a load of fiscally illiterate back benches + Ed the Millibrain, David Lammy, Angela Rayner I would not bet on that. It has got to such a state that the useless Rachel from complaints looks like the best option.

SP hit $14.35 three times yesterday but did not go any lower until just before close when it hit $14.32 so I believe BBs kicked in. I picked up some on all of these at $14.35 and sold soon after for a small profit, as I put in quite a large amount which was more than the total BBs for low BB days so might have been me who push the SP up, find out Monday. The last 2 times it hit $14.35 were required to fill my second order, did not get any at close as my limit was below the closing price.

Https://www.investing.com/news/analyst-ratings/bofa-securities-upgrades-pennon-group-stock-to-buy-on-improved-riskreward-93CH-4142328

Think it is some sort of AI generated article but worth a read.

Just sold out at $14.49, would have liked to hold out for more but going down so decided not to take the risk but a nice $0.19 profit to help offset the losses.

"Terry what’s your thoughts for the SP just after results. Are you optimistic?"

I am quietly optimistic as I think the rise in the SP is based on research done by IIs who have more info than us and also there may well have been leaks. However there is the possibility it will go down if good TU due to Buy on Rumour Sell on Facts but if good will continue to rise after.

From what I can see AH has done a good job but given the size of the task taking longer than hoped.

@ Trisor

I think he works for the Government which would explain why he has got so much time during the day to post rubbish and his 100% track record of getting everything wrong. In fact reverse everything he says or does and you will make good money.

JIM800

" out friend who said they couldn’t do that and it was all a function of daily averages over previous weeks seems to have disappeared! 😀"

He disappeared (as I noted at the time) after I replied to his condescending replies when I asked him about the odds of this happening multiple times on multiple days at $14.35 if based on daily averages.

"With HH up and US after market up your strategy should work well today. Good Luck."

Thanks, I put quite a lot on this trade and now have to wait for NY open to see how it goes. The irony of this is I am trading with my $s from DEC dividends which is quite a lot as they contain a number of dividends at the old level as II only pay DEC dividends in $s, don't convert back and forth with II as 1.5% CCY conversion charges but as II is a multiple CCY broker I keep 2 CCY books. Would buy some on UK market if it dips below $14.35 equivalent. Managed to get a few day trades in recently when UK price went significantly below US closing and sold after US opened although well above $14.35. Not huge profits on each trade but same money used each time and every little helps.

Just check with a different source for the SP and it did hit $14.35 once around 3pm UK time and around $14.36 a few times latter, perhaps the people doing the BBs bought at around 3pm and went home early and missed the big dip at the end. Looks like this in not an automatic process/limit orders which seems strange as buying in small lots.

Yesterdays BBs

Number of Shares 2,063, Lowest Price $14.35, Highest Price $14.35, Average Price $14.35

Aggregate number of ordinary shares acquired Daily volume weighted average price paid Daily highest price paid per share Daily lowest price per share Trading Venue

1003 $14.35 $14.35 $14.35 ARCX

100 $14.35 $14.35 $14.35 IEXG

60 $14.35 $14.35 $14.35 JPMX

100 $14.35 $14.35 $14.35 MSPL

300 $14.3500 $14.35 $14.35 SGMT

400 $14.3500 $14.35 $14.35 XNAS

100 $14.3500 $14.35 $14.35 XNYS

As can be seen these were bought in lots of 60 to 1003 which seems strange as it only dipped to $14.35 just before end of trading and I managed to get more than the total number in one trade at the end of trading.