Member Info for Thecountofmc

This is TUIs 3rd package this year. I reckon they have borrowed something close to 5bn euros via different financial arrangements. Thats going to be a big drag on the biz for years to come. Also as i read it existing holders do not get first right of refusal to the rights since no "on the record date" has been mentioned. It looks like it goes to a vote in January, so anyone can get involved. It looks to me like the Rolls Royce style rights issue when anyone could get involved as opposed to the IAG where holders on the record close of business the day before announcement got first refusal.

Has anyone seen terms yet? The times saying is 46% dilutive.

Any idea what this means?The financing package also provides for a reduction of TUI's share capital from € 2.56 per share to € 1.00 per share (without merging shares), followed by a capital increase by means of a rights issue

Whats essentially happening is, the share sold off on fear in the weeks before the RI announcement, the terms by that time were already set and set in terms of the lower share price. Probably too generous. I could even see this going a long way higher as even at £3.265 you end up with 13 shares at average £1 post RI. Someone (HF & book runners) have worked this out. By RI date most of the selling will be exhausted and the price can be maintained well above average prices as the float will be small.

Italians eye up bread maker Hovis with takeover bid: Bread maker Hovis could be snapped up by Italian firm Newlat Food after more than 130 years of British ownership.

Premier Foods sold a 51 per cent stake to Gores Group in 2014 and the embattled food group has since written down the value of its remaining 49 per cent stake to zero.

Ok thanks for taking time to respond. I am late to the party on this, had not realised planes were 2017 order vintage. Though would surely have made sense if at all possible. Everyone wriggling out of contracts on the back of pandemic.

Does anyone know what the cost of cancelling these planes is? That is surely the key as increasing fleet in this environment is surely not sensible. Every other business on the planet is claiming force majeure, be it oil contracts, business interruption insurance. How can anyone make a decision without know the cost.

Hi good morning. May i ask which firm you used to buy the put options? I think options might be the better way to play this one now.

Many thanks

Can I ask which firm you use for the puts/calls.

Many thanks.

Being manipulated by algos/bots. Most of the trades are bots and very thin volume. You can check trade types on the London Stock Exchange websites. I reloaded to.

unless they remove the HK$ PEG, which isn't that out of the question.

I got the very same response from Rupert Pearce. Word for word.

rupert_pearce@inmarsat.com

Management giving it away. Familiarity breeds contempt is a very true saying ..... worth well north of £6.00 Gutted.

From 6 July 18 "Earlier on Friday, EchoStar said that it had made a second, improved 3.2 billion pound ($4.2 billion) proposal to buy Inmarsat, which was rebuffed by the London-based company as being too low". Share price at the time of the initial offer (8 June 18) was circa 417 so Echostar final offer valued ISAT at approx 35% premium. That offer was rejected. In the meantime ISAT biz dynamics have improved. Based on last nights closing 35% would be around 590p Come on EchoStar £7.50

Shares fall as much as 4% in London, heading to the lowest closing level since Oct. 2018, after saying it expects equity free cash flow to be lower in 2019 than in 2018.
View is based on the guidance of operating profit being similar in 2019 vs 2018 and on an increase in net capex from EU2.2b in 2018 to EU2.6b-2.7b in 2019

Correction - sold shares in September & December

A certain insider sold shares worth £110,000,000 in September & October 2018. February results announced accounting errors from previous years (not sure what the effects of that are yet) plus weakening income because of new emsa rules restricting CFD limits to private investors. Together a bomb.

i hear Gavin Darby is available .....

Vodafone upgraded to Buy at Bank of America. There are currently no overnight shorts on the FCA report, so shorters will have had to be day shorter's. I wish the market would extend this luxury to private investors, we could play to then.