Entertainment Rights Share Discussion Threads

[petepostman] 02/3/2009 11:49

I seem to be missing quite a lot here, forgive my ignorance but pehaps someone could explain what is going on?

From the press release and newspaper articles the Comapany has valued the shares as worthless because any bid would not pay off the debt.

It appears that the Coampany want the Shareholders to vote for a take over that gives them nothing. Alternatively, the bank can step in and put the Company in the hands of administrators which would result in the Shareholders getting nothing.

Why would any Shareholder vote for either of this options?

Why can't the company sell some assets, particularly the Classic Media titles to pay off some of the debt? We were told that Waldo was a popular American icon so sell it to recover cash.I thouhgt Postman Pat was going to be huge in China? The Lone Ranger film on going?

If the Comapny can generate cash and use it to pay debts why is the bank calling in the debt?

Any ideas?

[hotips] 02/3/2009 10:29

There is no way private investors will approve a deal (and any deal will need shareholder approval) that does not benifit them. If a deal only pays off the bank, then effectively the new board are merely administrators brought into pay off the debt by selling the assets. If the bank pulls the plug, then most of the rights revert to their original owners, and so the banks and the shareholders get zilch. Far better to carry on supporting the company - which still has sizable turnover don't forget, and has down-sized, - than to pull the plug.

[toptrump] 01/3/2009 21:18

True, but doesn't have to be!

[miikke] 01/3/2009 20:38

Postman Pat is great, no doubt about his appeal but in today's climate even Pat would struggle to get what he is really worth!
Is it not time for realism?
The board will be ok, they will be running the company on behalf of a new owner, as I see things.
Meanwhile the private inestors will have lost out.
Thats the way it goes sometimes don't you think?

[tobie_1] 01/3/2009 08:01

However, shareholders could object to a deal if there is no value for them and industry sources questioned last night whether the company could be forced into administration if a deal fails to win shareholder approval.

[toptrump] 28/2/2009 15:50

I don't mean you miikke

[miikke] 28/2/2009 13:48

The board are happy because they may well keep their jobs.
The company will be taken away from current shareholders; a holding company or private equity firm will assume ownership and existing board members will manage the progress of the company over the next few years. Simple!

[petepostman] 28/2/2009 13:22

What about a rights issue to raise cash? Something smells here, and it's not pleasent. I don't believe this company has no value except the debt. all companies run with debt, it doesn't mean they have zero value. what about postman Pat and the Lone Ranger as stated above??

[rochford6] 27/2/2009 18:50

Phillis - after my earlier post saying it could be shorts closing i had a look at the Crest Data, In December there was over 15m shares on loan, January this had reduced to 5.5m on Loan. the volumes since the beginning of this month i would guess most if not all shorts had already closed

[lemmon picker] 27/2/2009 17:04

One point re yesterdays RNS is that it was issued by the company's financial PR M:Communications and not by any individual member of ER's board.

Rather odd considering it was such an important subject.

LP

[phillis] 27/2/2009 17:03

short covering

[pre] 27/2/2009 15:35

all will come to surface soon...still intrigued by the level of buying interest here.....

[typo56] 27/2/2009 14:11

Sounds like a waste of time. Take a loss, move on.

[toptrump] 27/2/2009 13:44

What are you guys thinking of doing! Just an action group - what an you achieve?

What about approaching a private equiy co. about launching our own bid?

Vtruvian Partners have a pot of money. They are looking at aqcuiring media co.

[typo56] 27/2/2009 13:20

golfer52.....FORE!

[scrapman] 27/2/2009 12:19

looks like the half wit has run out of cash

, probably running two accounts , buying and selling to himself ,

[lemmon picker] 27/2/2009 11:51

Srapman Thanks for your comments and support, much appreciated.

Are there any other ER shareholders on this BB interested in forming an Entertainment Rights Shareholder Action Group?

Please post if you are.

Thanks

LP

[typo56] 27/2/2009 11:50

lol, and who are the buyers buying from? SELLERS
And average Plus price today is less than 0.23p