Gli Finance Share Discussion Threads

[future financier] 21/12/2015 10:13

So Somerston is pouring £5.55m into an insolvent black hole is it?

[my retirement fund] 21/12/2015 10:03

I think what they are saying is that in Globo style their further fundraising attempt failed. The question investors must now ask themselves isIs this company truly solvent?Given events alarm bells dont really ring more loudly than this!

[deadly] 21/12/2015 09:34

A moral is all very good in hindsight, but do you ever really understand a company?

Even directors often don't understand their company - look at VW and that is/was run "well".

[mad foetus] 21/12/2015 08:55

so, the PUPPET takes control, but where are the PUPPET MASTERS?

One thing for sure, the pigs will have their fill from the trough. Lots of structuring, lots of chunky arrangement fees for the PUPPET MASTERS.

The moral: don't invest in things you don't understand run by PUPPET MASTERS.

[future financier] 21/12/2015 08:48

We've already taken a big hit, getting a new CEO and new investors with big incentive to take this back to 55p - worth staying for the ride?

[lewis1234321] 21/12/2015 08:43

Time to double or quit. Let's see what the directors do now.

[squintyflinty] 21/12/2015 08:28

Divi halved but still around 7% mmmmm..........Jury's out on this one.

[tsmith2] 21/12/2015 07:54

using proceeds to pay off more expensive debt but slashing divis in 1/2??

[nw99] 21/12/2015 07:41

Miller resigned

[tsmith2] 21/12/2015 07:28

Hmm, dividend cut by half..dilutive fund raise..just when you thought things may be about to settle down..you don't just get shot of the CEO who was apparently meant to be helping the company do fantastically well

[cwa1] 21/12/2015 07:23

Big announcement:-



Interesting stuff!

[cerrito] 21/12/2015 00:03

As someone who has no immediate plans to go into GLAF but who has been uncomfortable with GLIF as I do not feel I know what is going on, I recognize that this monthly update gives GLAF investors all the statistical information they can reasonably expect to get

[droid] 16/12/2015 12:10

looks healthy enough

[james188] 10/12/2015 10:14

The latest interims to end June 2015 and the subsequent Edison analysis (albeit sponsored research) show that the company has been and is expected to continue to make a profit. It translated to EPS of 4.71p for the financial year ended 31 December 2014 and Edison now estimate 3.62p for the current financial year.

The issue is that most, but not all, of that profit is non-cash (down to unrealised gains in investments held by the company). So the cash has not run out. What is currently unclear is what the new dividend policy (to pay dividends out of "net income" measured in each annual accounting period) will translate to compared to the current dividend per share of 5p. Previous posts refer.

[trulyscrumptious] 10/12/2015 08:37

Regardless, will they still be paying a dividend or did the cash run out?

[jt35] 10/12/2015 08:21

CWA1 the offer is for the new Zero div preference shares, these will have a rolled up coupon equivalent to 7.5% annually paid at maturity. They rank behind the existing zeroes and behind any CULS issue if it goes ahead. Unless your relative has tax planning requirements that suit ZDPs I can't see the attraction of taking up the offer.

[valhamos] 10/12/2015 08:10

The announcement of 3 December allowed for a conversion of CULS at "above current share price" which was approx. 43p. Good to get clarity that it will be at least at NAV.

[philjeans] 10/12/2015 08:03

Nice - and up we go again.

[holts] 10/12/2015 07:57

Perhaps it will occur to them in future to provide more information , and more importantly , clarity about their intentions.

[cwa1] 10/12/2015 07:36

Morning

MRF

No, some misunderstanding here. Her communication was not a desperate phone call, just a standard broker e-mail, that all clients with GLIF holdings got, asking what she wanted to do re take up.

I was hoping someone on here would be kind enough to give me the "penguin guide" to it all to save me having to wade through reams of paperwork and posts to find out what it was all about!

[skinny] 10/12/2015 07:11

GLI Finance Limited ("GLI") provides an update on its plans announced on 17 November 2015 to consider the issue of further securities in order to refinance certain existing borrowings as well as to provide additional working capital and growth. The related prospectus and circular to shareholders (the "Circular") were published on 3 December 2015.

One option detailed in the Circular is to replace GLI's current loan facility with convertible unsecured bonds ("CULS"), at a lower running interest cost. Following the recent share price movement the Board would like to make explicit that it will not consider a CULS issue with a conversion price below the current NAV of the company. The Company's unaudited NAV per share as at 30 September 2015 was 52.30p and a detailed breakdown of the NAV is available on GLI's website.

-Ends-

[james188] 09/12/2015 10:44

Ditto.It will have happened for any sponsored CREST member.

[ianbrewster] 09/12/2015 10:24

mrf

no suggestion that the communication was a phone call!

I have also had 'communication' from my broker in the normal manner asking if I want to subscribe for the new zeros.

[the monkster] 09/12/2015 10:21

not necessarily - her holding is probably with a broker and they are merely asking her whether or nor she wishes to take up the open offer.