Member Info for zccax77

This sp can do anything. Three months ago did anyone think we would get to 750. The shorters are in control all we can do is sit tight.

Anything down to 500p is possible. Wish the BoD were kicked out and someone with a cooler head took over.

I don't think you can really blame management for the losses. Amazon is killing all bricks and mortar stakeholders.

This has more chance of going to zero than ever seeing 200p again.

They got 180m from derby, they have 300m of cash , another years divi is 200m plus if they sell the Spanish sites they get another 200m. That is enough money to pay down over the next year to keep the wolf from the door for the next 12 months.

Only 20% of the float is held by PI’s so the only way the II’s can buy more without moving the price is through the rights issue. The BoD did a roadshow in the US to garner further interest in the issue, and I can only assume they have a bunch of investors lined up to buy these when released.

Does not matter what you and I think. Market thinks equity in this is zero. This will likely be going in administration in the next year or so when loan covenants are breached. Amazing that none of the foreign operators like kleppiere or Simon property in the us are interested. Current ten year gilts are at 1.5%, they would rather buy that than these investments which yield 6%+. Gla

Forgive us for being nervous. This sp can do anything, can go from 22 to 7.27 over a minor mistake and is also the second most shorted stock in the UK. Anything can happen, can't wait for it to go back up to 12 and I get the hell out.

What price will this open at tomorrow? 544p?

Why bother, to get another £120mn in from the BCR, they have said good bye to £1bn of shareholder value. These people should not be running a bank.

So current MC = £800mn
Allotment max = 33% of current MC
Amount required = £350mn

Does this mean the RI will be at a minimum of £10.50?

We will know soon enough, the Q1 update is in a few days expect news re the placing then. Hill has a lot on the line here, he will dig deep to get this underway if he has to.

If the shares are at a discount then we will get the chance to partake, if at market value then the II's can just partake. The large II's hold 80% of the shares most of whom are billionaires, so I think this RI will not need us PI's.

If anything I think this deal shows that Intu management are confident that any DEBs CVA will not have a material impact on them, look at what they did with HoF and MA, otherwise why would you sign such a onerous lease.

Intu have some top tier assets, I am surprised some of the yield hungry sovereign wealth funds or Canadian pension funds are not interested. They would rather buy Lyft shares or loss making insurance entities in the city.

The Trafford debt seems to be extremely cov-lite, maybe that is the only type of financing avaiable going forward for INTU due to the pressure on LTV. Even after paying 7% on debt they will still remain profitable.

The sp would not be 1.00 if these issues did not exist. How much do you think the equity is Intu is worth? 0p?

Intu's shareholders have already been shafted with a 65% fall in shareprice. DEBS seems to occupy 10-15% of the space in INTU Derby, so even if they did do a CVA the impact will be minimal, and M&S/Next/Zara who are next door might want to increase their floor space to fill the void if DEBS f*ck off. I do not think this arrangement represents much of a risk to INTU maybe a 10% reduction in rent. The Derby store was already written down by 19% in the last revalutation, so Cale st got a bargain.

The breach of covs is a long way away, most of the properties have a minimum 150% interest margin, and a LTV of 65% if not higher.

How much is the Menai centre up for sale for, looks like it last sold for 16mn in 2014.

*Debenham's new management