Clear Leisure Share Discussion Threads

[jamdan1] 07/10/2018 15:36

I don't think I've ever known an RNS create such indecision and confusion about whether this is positive or negative. Best to wait and see how the SharePrice reacts tomorrow

[bulgarian] 07/10/2018 14:41

So the largest bond holder and a major share holder is just going to convert all the bonds and wait for the share price to magically re-rate / multi bag up to and past the conversion price?

That's your suggestion?

[bulgarian] 07/10/2018 14:35

It appears they will.

Because?

[knigel] 07/10/2018 14:33

It's appears they WILL.
Up to you if you want to join the party...

[bulgarian] 07/10/2018 14:28

Yes, but which provider of loans just agrees to an instant 80% haircut, especially as I have just learned they own 20% of the equity?

I mean if you were in that position why would you?

[knigel] 07/10/2018 14:23

The 43% holder has been supportive even providing bridging loans. I would be amazed if they did not convert but just my opinion. Just look at their history of backing the company. Enough said imho

[comedy] 07/10/2018 14:06

Bulgarian , eufingest hold shy of 20% of shares in clp. At same time they own 43% of the bonds! They have voted in favour of shareholders and forced through the agreements which effectively burns out 80% of the bondholders debt. At same time bonds are only £6.something million...and not the £9mill someone posted. Bondholders are getting their debt converted to shares at 3.76p...and with big cash assets news expected I believe will go higher share price wise. Hope that helps

[bulgarian] 07/10/2018 13:33

Jon,

That's the bit I don't get. If the bond holders reckon the future is rosy then why convert at a 500% premium and then take the shareholder gamble?

Why not just buy stock in the market at current price and enjoy a double whammy?

[jon1962] 07/10/2018 13:31

If I was a bond holder I would not convert at huge premium shortly unless very good prospects.

[bulgarian] 07/10/2018 13:31

Be vary wary of spary1 he is a multi ID ramper whose record of costing investors is very well documented and increasingly followed.

[jon1962] 07/10/2018 13:29

I would have thought the fact they have converted is a show of confidence that perhaps good news maybe on the horizon or why convert ?

[spary1] 07/10/2018 13:29

Be very careful of Bulgarian, he is a multi ID troll who infests these boards, waiting for Admin and the FCA to deal with it

[bulgarian] 07/10/2018 13:23

That's what I don't understand - if the bond holders were confident why convert at a massive premium to current share price and effectively wipe out 80% of their skin in the game?

I mean, how many mugs would pay 4p in the market tomorrow morning?

Bond holders are usually sophisticated and with experience moon distance above the normal PI / herd member.

I'm sure some will say ah that's because they see the big picture and where the share price is headed. Then why convert at all?

i must have missed a major piece of the puzzle.

[jon1962] 07/10/2018 13:22

My question answered thanks

[jon1962] 07/10/2018 13:04

What incentive is there for others to convert at 3.76 pence if they don't have to ?

[supercity] 07/10/2018 13:04

The company has less than £3m in net assets according to the interims.The bonds are 9.9m not 6.9mThe company was banking on a successful mediapolis appeal to have any chance of bolstering the balance sheet which did not happen (this weeks news)Bond holders know with the current circumstances, unless the companies fortunes change significantly there is little chance of them getting their money back in 2022 when they mature (the company keeps extending the maturity date)Some Bond holders therefore are happy to take the 4p issue and no doubt sell them and bank some funds this way they don't lose 100 percent but lose 70-80 percent at today's levelsNo one has paid 4p for any shares, No money changes hands, no one pays for the shares, no one receives any money they are simply converting bond debt to shares and use 4p as the levelThere is zero point of converting unless you are going to sell them and take the lossIt's a pretty much "screw you" scenario for bond holders Hope that answers some questions

[bulgarian] 07/10/2018 13:02

When you say that the largest bond holder is likely to convert, can you elaborate further on why you think that?

Having read back thru a few RNS specifically on the bond holder issue, I see that the large bond holder recently agreed to date extension for bond maturity and for the proposal of existing debt to be converted into equity. Then Friday a tiny amount of debt having being converted.

But I don't see anywhere that the largest debt holder has actually agreed to said conversion of its existing bonds. Indeed the recent RNS confirming the latest conversion price then talks about the dates etc. And specifically.."conversion if ANY.."

I must have missed something and I'm sure those who have been around longer than 5 mins on hopes of quick trade will be able to elucidate.

Thanks in advance.

[knigel] 07/10/2018 09:42

Did I say this? NO... read the RNSs. At least some of the debt will be converted to 3.76p. The largest holder has 43% of the bonds so are likely to convert. We will just have to wait and see. I can't see a full 100% conversion but who knows. However how ANYONE can say that debt being converted at a five fold premium to the current share price is somehow bad news is beyond me. Let me put it simple. It is GREAT news imo

[jon1962] 07/10/2018 09:27

Knigel: so it’s the case that the full debt is guaranteed to be paid off either by CLP converting it for the bond holders or the holders voluntarily converting themselves?

[knigel] 07/10/2018 09:12

Spary, ignore them! Giving out false info in the negative side is as bad as any ott ramper. I suggest they read the annual report note 23 re the different dated bonds and acknowledge it is 4p conversion rate for one dated bond and 3.76p for the other dated bonds

[jon1962] 07/10/2018 08:36

You know full well it’s 0.04 pounds not 0.04p unless of course you need a basic lesson in the interpretation of decimals which I am happy to give for a fee of course!