Member Info for zccax77

I don't know much, but one thing is for certain the BoD are their own worst enemy. Everything they touch turns to ****e.

Agree with all you guys this is bizarre. The BoD's behaviour is erratic and looks stupid. Just does not make senses. Donaldson is a smart guy.

Ginger - The market can stay irrational longer than you can stay solvent.

That Fitch report must have cost them a lot of money and effort. What a waste ;-)

IMO this is a blessing in disguise ;-)

The BoD here are just incompetent. Their current debt is already trading at 8%+ yield, what did they think would happen if they wanted to raise a further circa 50% of market cap. Debt investors are not teddy bears who hand out money willy nilly, they are the smartest guys in the room. This will now force the BoD's hand.

The best outcome PI's can hope for is a sale of the business and/or removal of the BoD.

The thing is MTRO already have 250m of bonds being issued and traded and would have indicated pricing . So why go through with this absolute bafoonery?

Sparkey333, it is the latter, the BoD are really that stupid. They suffer from delusions of grandeur. I hope this now forces them into a transaction.

A lot of this is already priced in. Hence Goldman Sachs target.

They only need 500mn. They don’t need 3bn yet. This is the main reason shorts have not reduced and Goldman Sachs downgraded. The bod are extremely slow to act to market conditions. The best thing they could now do is sell the business.

CDTN- you planning to sell?

Expect zero profits going forward.

They need to raise another 325m.

If no one wants to buy their equity at 28% of NAV, not surprised their coupon is so high and little take-up. What a mess.

If they are paying that on their senior notes what is the coupon on their junior notes?

Healthyreturns, good strategy I can see this rise post Spanish sale. Though I would not be holding this into the Q3 results.

Hammerson will not be making an offer, Elliott won't allow them. Look at HMSO's share price, only down here due to what is happening to Intu from a contagion risk perspective. IMO HMSO is a better bid target.

When Fosun announced takeover , it just reminded me of what the Chinese did to MG Rover.

Ginger Agreed.

Same happened with AMGO.

Sunday papers need to wait until midnight.