Member Info for zccax77

This is the worst share I have owned. What a dog. Bod need to create a real ADR for this, will get snapped up by us investors if they did.

Scarecity. You think it’s easy for someone like Odey to unwind his position based on daily volume? As soon as the market realizes he is unwinding such a large short th price will jump. Easiest way for them to unwind is an offbook transaction, though I bet there are not many institutions selling at these low prices apart from FMR.

Do you know the ISIN or SEDOL number for the bonds?

If the shorters know that the owners of the shares want to sell them, why would they return the shares when they can just pay them the consideration for the shares at that point in time.

If they knew the fund managers just wanted to sell due to their trackers dropping out. Why would they return the stock when they can just return cash in lieu?

This was 22 quid in January. Lost almost 90% value. The power of the stock market to overreact is perfectly exemplified here. 2bn of value lost over a 200mn understatement of ECR.

Do you guys honestly think he would share any price sensitive information with us? Though he and the bod are fully aware of the situation.

I saw such an email and can confirm it was him. Though due to rules around the dissemination of material public information, his emails were very vague.

No, I am saying the market is valuing the tangible cash and net assets of £1.7bn at £190m if we take away the main measurable intangible assets MTRO has, which is the 1.8m customer accounts. Since MTRO has grown organically it does not have any internally generated goodwill or similar intangible (apart from capitalised software development costs). Again indicating how stupidly the valuation has become.

If the below is not a takeover target I don't know what is. Market only values the net tangible assets of MTRO at £190m.

Metro Bank customers 1.8m x £150 = £270m
MTRO MCAP = £460m
MTRO residual value of assets = £190m

https://www.thisismoney.co.uk/money/saving/article-7398815/RBS-announces-new-150-current-account-switch-offer.html

This thing has a forward looking PE of 3 FFS. Just sit on it for a year or so and it will be back at 300p. 100% return in 12 months.

No new shorts per Shorttracker.

They need to forget the expansion, and start share buybacks. Make the shortsellers sweat.

If only they spent more time on fighting the shorters instead of the expanding. Look at how Burford responded.

Maybe there is a bid coming?

Getting hammered today.

Odey Asset Management also suffered losses in its flagship Odey European Inc. fund. The $900 million fund counts Buenos Aires-based Banco Macro SA as one of its top 10 holdings.
“It was very painful to watch 8% of one’s valuation destroyed in an instant,” the hedge fund manager wrote in an investor update seen by Bloomberg. Odey questioned how much more money he could lose after the peso tumbled to a record low of 60 per dollar. His fund was already down 0.6% in the first seven months of the year, the update showed.

https://www.bloomberg.com/news/articles/2019-08-26/hedge-funds-from-autonomy-to-odey-tumble-on-argentine-swoon

A lot of the clowns on here do not realize that metro do not apply AIRB to their risk weight calculation so they are holding more capital per £1 of loans than any other listed bank. Meaning brexit will have a disproportionately lower impact on metro compared to the rest of the cohort in the sector.

I know some of us are concerned about the low sp. But remember Hill has 150mn of his worth tied in this. Not many Chairman's are as balls deep as Hill. Plus Hill ran Commerce Bank for 34 years, and never did it once go private. We just have to wait another 8 weeks until the Q3 results which should hopefully show deposits flowing back at a rate of 100m/week and another 100k fans :-)

The situation here is no different to other low sp now like SAGA, TED and STAF, all with strong cashflow but going through their own issues, which are surmountable IMO.

Wow, wake up and look at my screen and see so many filtered posts by our new resident troll.

Do you get paid overtime?