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Underdog12 - I take your lack of response on my magnum of Champagne offer means you are brave enough to type but not to stand behind your words ?

Underdog12 - 90p by 16:30 Wednesday 11th December 2019 ? I'll take your bet - how much do you want to stake ? A Magnum of Champagne ?

I bought my second tranche at 38.54 so my average is now 42.27 - but there is no way this is going to 80p tomorrow - will probably bounce between 35p and 50p imho

Took a small position for the first time this afternoon at 46p and will average down again at 37p - hopefully not, but if I have to will cut my losses at 34p or take profits at 55p - given the issues I see this as a trading opportunity and mid-long term not looking good, if you assume no rally in the price of oil in 2020. GLA, particluarly the LTH's who got hammered today.

Good point MarketIsCorupt - On 23rd August the company wrote in a RNS "However, the ongoing review will result in a delay to the publication of the Group's interim results, and it is now anticipated that the Group will release its interim results in early September." It wasn't until the 16th September that they issued a further RNS saying that the results would not be published. Obviously by 10th September the threshold of "early September" had passed, by any reasonable definition so on the 10th September they had a legal obligation to issue an update - which they only did on 16th September. I don't see how they can be considered to have been compliant by not updating the market to the information that was in their possession on the 10th of September - namely that they had no chance of issuing the accounts for several months ? I suspect that a miracle will now occur and the accounts will be published shortly - or will we see a pre-pack and a sale to DBay for a £1 ? The SFO's history over the last 3 years has been equally shambolic, it would probably take them 6 months to figure out where Warrington is and then decide it was too far to travel - in any case they are not motivated to buck the system by their political masters, sadly. Chehsire Police however have jurisdiction over the Warrington HQ so they will have to take a look if any evidence of wrong doing is presented to them.

I think eventually the new entity will be created out of the old ESL and will be on the market for a while - but as the PIK loan builds up I suspect there will be a debt for equity swap and the current and future holders will be wiped out - all be it that current holders are already down 90 to 95% in any case - this story will unravel in the courts and the regulatory bodies and become a case study for the next 20 years in investment circles...imho

Snige - you may see me eating humble pie at 16:30 if this continues ! gla !

So now the completely legal and above suspicion deal has been done, we can proceed with the following investigations:

Share transactions of DBay and their associated entities in H1 2019 in ESL
Role and conduction of the Directors of ESL since flotation through to suspension
Investigation of the auditors involved in failing to undercover basic accounting issues

For the BOD to say they expected to issue their H1 accounts in early September and then not be able to do so three months later, during which time the company is effectively taken away from the shareholders is astounding. Don't be surprised if DBay take the rest of the business over in a debt for equity swap when there is not enough earnings to pay the onerous interest rate.

First stop the Fraud Squad of Cheshire Police and on from there....

Despite Odey reducing their shorts, the share price continue to slide (3% plus today) and with probably more disposals from Cohen to come, expect this to reach the low 170's today and the 160's next week, as no positive news expected, other than a bid from the blue ?

I sold out this morning at 101p - expect this may drift back to the 80's early next week and will go then again

Agree the news from all sides is conflicting - either positive or negative, but news there is ! Shorters have lots going on behind the scenes which drives behaviours, longer term investors like Cohen perplex me when they walk away. I get the fact that VH his buddy is no longer there, but can't understand why he would walk away at the low point, when he had the same chance at 50% more a month ago ! If you hold I hope a bid comes in because that would be the best outcome, otherwise I fear this could slide to £1 before a rescue deal robs the lth

I fear that Cohen isnt' dumping to pay for his family Christmas dinner, but dumping because he sees no future, which means he still has another 8m plus share to sell - possibly by the end of the month to secure the tax loss for this year

barckley92 - I think you are clutching at straws if you think someone with a net worth of $13.6B need to raise £10-£20m from shares that he lost £100m on to fund a $2B acquisition - might fund his Xmas vacation but thats' about it

pinnasim and garyn - agree that both of your points could be true, particularly as it is the end of the tax year in USA, but then would have expected him to open a position again to back the recovery here. The downside here appears to be 15% and the upside 100% plus, and with Odey taking a major cut to their short position I was optimistic. Still think that a bid is the only way this will provide upside in the next 3-6 months.

Agree, but Cohen's net worth is $13.6 Billion - and the deal for the Mets could be 80% of $2.8B over 5 years, according to Forbes, so don't think the £10m from Metro is underpinning the deal ?! I cannot see why having ridden the share price all the way down from over £10 to under £2 I don't see why he would sell now rather than wait for the recovery ?

Yes missing the fact perhaps that Cohen the ,billionaire having lost 90% of his investment in this share in 2019, has sold about 35-40% of his investment over the last 2 weeks - presumably as he sees no recovery or sadly and more likely further downside ?

I'm a new poster - literally just joined - but have followed MTRO for 6 months dipping in and out and making sadly small losses as the price moves about. Bought back in yesterday at 181p but have just sold again today having seen the significant reduction by Cohen over the last 2 weeks, which combined with the CEO going, months after he should have resigned, has me worried. Simply don't understand why Cohen would sell out now having lost over £75m in 2019 on his current holding, if my maths is correct, unless he sees no further value as I don't think he needs the £10m his sell has realised ? Good luck to all holders and hope you get a bid soon, which is probably the only way to get the share price above 220p in the short term.