Member Info for valuewalk

Flybe aren't going under....they have plenty of cash, even assuming we have been burning £7,000 an hour since November you're still talking tens of millions of cash. We can issue more shares if needs be. Insolvency is a long way away, and no creditor wants an airline to go bust on them, they'd negotiate if it came to that.

There's a reason they want to steal Flybe from us shareholders.

@ Europa,

It really depends on how the claim is brought. I am holding onto my shares because I stand the best chance of profiting from a lawsuit by so doing. If people panic sold they may, or may not, be able to make a claim. What I want to see happen is this. Let them asset strip Flybe PLC, meanwhile someone with a brain builds up a position and replaces the board of Plc, thereby preventing the actual 1p takeover....from there use Plc as a vehicle to sue everyone, Directors, Stobart, everyone.

Woodstock its very good of you to give your email out. A lot of people need support, this is real money with real consequences. Yes, we should all know our trading limits and most of us do (often only after learning them the hard way, nobody can feel superior to anyone in my view in this regard). But what has happened here is not an ordinary loss, it's a stitch up.....

It pisses me off that people I know have gone to prison for stealing a lot, lot less than the £100 million + bounty in this case yet none of the scum behind this will be hearing that cell door slam shut. Corporate greed? Banksters? This is the face of it, and a small part of the consequences. It's not capitalism that's the issue, it's corruption and cronyism (both of which abound in every political system).

I'm NOT ramping (as we all of us know here, I am more than capable of being wrong), but I'm happy to tell others my current positions in case they might see something they like. I'm hoping they help me to recover the £20k I'm now down...

Nordic American Tankers, Hardy Oil & Gas (small holding, v illiquid, but high potential), Greenlight Capital Re (volatile but trading at disount to NAV), Doric Nimrod Air one (long term hold). And a couple of index funds I wish to be rid of frankly, but am in a small loss atm so waiting for them to even up before I liquidate.

Does anyone know, roughly, the assets of the parent company itself? Leaving aside Flybe Ltd? Is it a complete shell or is there something in there? At the moment, given the corrupt stitch up, I'm basically assuming we have zilch coming. I'm filing reports everywhere, the brazen nature of this is what shocks me....better chances on the Russian stock market.

Fieldmouse

You could close Flybe down and have much more than £2.2 million available, accordingly it is incumbent upon the BoD to propose a members voluntary liquidation over a sale for £2.2 million. Again, shareholder value is all that matters. You'd be looking at £30 million + I suspect, all said and done, for just a liquidation. It'll never happen because then the BoD lose their pay and perks, and their options are worthless. So, for them, it's worse than a buyout (at least with that the new buyers may keep them on).

One advantage of a controlling shareholder running the show is that you don't get this moral hazard, where the board want one thing and the shareholders another.

It'll be an unfair prejudice claim if anything...IF backhanders could be proved then it would be one huge corporate scandal. Parliamentary enquiries, prison time for those involved, and a deceit claim against those involved to the tune of many hundreds of millions by affected shareholders (vicarious liability would mean that any companies whose agents were corrupt were made liable). More likely I think is that we'll just put up such a fight that they either go away and we go it alone, or they offer something vaguely acceptable like 20p a share.

I'll join you Profit_Profit. £20,000 for 1% of a company with a £750 million turnover......not to mention £50 million of assets. We'd just do a Members Voluntary Liquidation and come out with £20-30 million in a year or so. 1000% return.

That or the pension fund can buy us out, or be part of the consortium. Then a) The employees would have a real shareholding and some sway (the employees, BoD aside, have my sympathies BUT the board's duty is to us, not to them), b) We'd achieve a higher price, c) If it can get regulatory approval it's an insured bet for them (due to the pension lifeboat scheme).

I guarantee the pension fund does not want us to fold, and so long as we keep blocking the bid someone will have to step up and step in. 25p or don't even talk to us.

They think we don't matter, unfortunately for them the English law vehemently disagrees. You want communism go to North Korea.

Yes, and we will seek an injunction to prevent a buyout. Unfair prejudice would be just the start of our claim. No less than £100 million in damages, joint and several liability- so we'll bankrupt anyone who has acted against our interests.
£100 million is 40p a share, plus interest at the statutory rate until it is paid.

With loss in an unfair prejudice claim the normal rules of remoteness don't apply, so we could issue for £300-400 million or more. For all of the profits that 'might have been' had the company been managed properly. I'd like to see the Stobart share price when those particulars of claim land on the doormat :)

We need someone to play very, very hard ball now. We are 3.7p from the bottom. Hold these bandits to ransom, let the company collapse if needs be; we want 25p a share and someone can come up with it or everyone will suffer. Flights unfulfilled, jobs lost etc And it'll all be COW's fault for even entertaining such a bid. I don't care if we're £500 from the bottom, you don't accept £2.2 million for a company which turns over that much every day.

Do we know the terms of this £20 million Virgin will put up? Is it possible this is a trick to hold us over a barrel? I.e. it's recallable on demand. So, it gets sent to Flybe, spent and then Virgin can, more or less, say, "Accept 1p a share or we'll call in our debt, wind you up and pick the bones of the company after liquidation?"....I hope "our" representatives in the boardroom have not been so stupid, monumentally stupid, as to agree to a short term credit facility.

I am pretty sure we won't get 1p per share. We might get 0p but I don't think 75% of us, by shareholding, will vote through this thing. So the 3.5p reflects the prospects of the deal not going through.

Any proper pensions/corporate law boffins please correct my undoubtedly unfeasible idea. We band together and tell the pension fund, buy us or we'll let the lights go out. We want 40p a share, at this point I'd say we have the high card. We lose £10k, 20k, 40k or more whatever but we don't lose our jobs and livelihood. I have no compunctions about this sort of extortion after today's doings, market is getting to be a very nasty little place and we have to use what power we do have viciously.

Sadly, Maxwellian doings inevitably mean that employee pension funds can't buy sufficient of their own company's shares to make this viable.

#idgaf #nosespiteface

I would rather see the company burn than get paid 1p a share or 5p a share, it's just a disgrace that they are even offering such sums. I hope enough people have the balls to take the same view. They're trying to scam us, but we hold the collective power to stop them.

Over Directors' duties may be unproductive, but I can tell you that the duty is to look after us (and, in an insolvency, creditors). The law protects employees, but the duty of the BoD stops at obeying those laws. 1p per share is so close to 0p per share that I think everyone would rather just see how it plays out.

Possibly this was a move to depress the price massively, as people panicked. Interesting they announce on a Friday, so we can all stew in our juices over the weekend as they pray for another panic sell off on Monday. No thanks, if anything I may buy another 200-300,000 shares.

No, they are not morally correct. It's not their place to worry about jobs, pensions is a more complex issue (as it can end with liabilities for the company). They, the BoD, are meant to be looking out for us, not for anybodye lse.

Look, there's no explanation for a 1p a share offer besides someone seeking to crook us all. A responsible Board would issue more shares rather than do this. It's just a joke and I can't believe intelligent people are being suckered/scared by it.

Yes, it's a wobble, yes my blood ran cold when I received a call at 9am telling me about this. No I don't want to lose over £20,000. I just don't believe I will.

They are trying to get the parameters of any takeover very, very low. So now a 10p offer looks generous. If they're dumping £100 million in anyway they CAN pay £20, 30, 40 million to get 75% approval from shareholders. They just don't want to and are seeing how far they can push their luck.

I won't accept 1p a share, I won't accept 10p a share. I'm noone important, but I'm also not alone in this. COW would be doing a better job by taking every penny in Flybe's accounts and spreadbetting it on the FTSE at 20:1 leverage, more chance of creating value for us than recommending 1p per share.

Wake me up when it's all over.

There was a time when Captains went down with their ships...that time has gone. All the BOD really care about, behind their fluffy crap about the employees, is their freebies and perks.