Member Info for zccax77

Not sure if you listened in on the earnings call. The reason they continue to market this product is to contain the fallout from the bad publicity. After the capital raise they will likely reduce it. But overall I agree the next quarter is likely to be abysmal as well.

This can easily go to 4** before it rises again the market is so negative . That would be a 90% fall from peak to trough. Good news is that Odey is starting to decrease his short so atleast he is taking notice and wondering why the rights issue price is not being announced. It’s a shame hill dominates the BoD otherwise potential buyers would have emerged, no one will bid for this since it will be a futile effort.

Doubt it will for less than NAV

I doubt it, Hill will rather burn it to the ground then sell it off on the cheap

This will go all the way down to low 5’s easy. There is no support. So much for a rights issue to match the BCR money they won, for which they will sacrifice 1bn of market cap. These people should not be running a bank.

These clowns are so behind the curve it is unbelievable. Why are they still spending capex on projects which return 5-7%, and then do highly onerous deals with Cale st. They should stop all capex sell off surplus assets like land etc and reduce debt. They can easily pay back atleast a billion if they tried.

Prince-ass interbank lending is transparent where counter parties know who they are and the BoE and FCA are aware of balances between entities. Are you now saying the BoD have been lying to the regulators as well. You should crawl back to the hole from which you appeared from.

What is happening to the sp is entirely due to not announcing details of the rights issue. The lower it goes the greater the dilution.

If metro went kaput tomorrow we are likely to get more more than 7 quid in capital back after the liquidation. Bearing in mind Lehman shareholders are still getting capital back over a decade after the crisis.

Covenant breach means refinancing onto cov-lite loans and paying interest at 6-7%, far less worse than doing more Cale street deals.

Debenhams represents less than 4% of intus rent. Market pricing in carnage in relation to debs, intus sites are some of debs prime sites, doubt there will be more than a small cut in rent. Debs have also invested heavily in intu flagship stores, so if they cut and run they will need to write down the caped.

I listened in the call yesterday. The forward looking statements were very positive based on what they were seeing in April. This will bounce back. The damage from the media has caused the results hiccup. You have to bear in mind the impact of ifrs16 as well the margin compression every bank is facing. Atleast they are still profitable and do not have to rely on the money markets for funding otherwise they would have been toast.

Expect the rights issue when all the paperwork is done. I think the results are good if you take away the IFRS16 noise. expect this to fly tomorrow. the muppet who sold at 750p yesterday will regret.

Give it a few months and another bid will come. intu have some top tier assets generating good income in a zero %interest rate world.

The difference between the two values is the default risk arising from the massive liabilities. Market is scared that further erosion in market values will trigger LTV covenants.

You forget about the elephant in th room. Nothing will happen before the rights issue.

I think the results are carp. Looks like without ri capital the balance sheet and p&l are stuck in the q4 position. Well could be worse they could have made a loss I guess.

At this point I think the equity value does not matter, the debt holders are in charge. The private equity boys are going to get a bargain.

Wonder if we will get a leak like last time.

Now the most shorted stock on there. Will the BoD take any notice do you think?