Countrywide Share Discussion Threads

[superslickrick10] 02/8/2018 13:35

Current market cap on the hlshares website showing at £41.65m.

[typo56] 02/8/2018 13:27

Same here techono.

[technowiz] 02/8/2018 13:25

237,970,000
1,114,419,569
285,580,431
total 1,637,970,000

i make it 1638m shares rounded up.

[typo56] 02/8/2018 13:21

Superslickrick10, I don't get where a market cap of £27m comes from.

After the placings and open offer they'll be about 1,638m shares in issue. They are already trading ex-offer, so all the shares should already be factored into the price.

At 18p that's a market cap about £295m. I think that's the figure you should be considering.

If you believe the shares should be more than 18p, you believe £295m undervalues the market cap of the rescued company.

[superslickrick10] 02/8/2018 12:07

At 18p that is a market cap of £27m. They've not even explored selling off some of the brands yet....Hampton alone with its 5o+ branches would be worth circa £60m....clearly some over excited shorters missed the boat

[technowiz] 02/8/2018 11:56

then again..

11:55:19 16.5045 1,000,000 O 17.6600 18.3000 Sell

people happy to be selling a million shares at 16.5p way below mid-price.

[typo56] 02/8/2018 11:19

b1, as you say, published volume on LSE is not high (do you know what's being done off LSE?). So far it's still about 12x daily average volume. Is that good or bad though?

It's nothing like the 1bn plus placing shares that will come on the market, all acquired at 10p. Clearly only a fraction of that amount can be shorted now as there are a limited number of shares in issue. So what happens when the new shares start trading? Don't placees want to bank profits?

In the short term I think it could remain around the current level of 16p-17p, until the market digests the consequences.

[technowiz] 02/8/2018 11:10

B1 is not hit you're 10p target yet only in the opening UT trade. you buying way too soon mate ;-)

[typo56] 02/8/2018 11:04

I think shorting from here (17p) still isn't pointless if you're sure of allocation of placing shares at 10p, although I imagine most will have done it higher up.

[typo56] 02/8/2018 10:46

b1tcoin, surely those expecting to receive placing shares will have shorted them this morning? Easy money.

Many aren't buying because they have any loyalty to the company. In much they way the company haven't displayed any loyalty to existing share holders.

[hussyo] 02/8/2018 10:39

tech.. - sorry!

[typo56] 02/8/2018 10:36

technowiz, I'm not sure about the placees being excluded from the open offer. It should become clear in the prospectus.

I think typically the firm placees don't receive any open offer entitlement on the placing shares they receive but still remain eligible for the open offer on any qualifying shares they hold. In other words, all the 238m existing shares in issue will be qualifying shares.

I think it would be quite a headache to adminsiter if placees were excluded from taking up the open offer on shares they already held at close yesterday.

[technowiz] 02/8/2018 10:34

SP dropping now. its your fault hussyo. thanks for posting that. so could well see the share price drop towards 10p from here. if it goes lower then the placing is at risk of failure.

[technowiz] 02/8/2018 10:28

read the RNS:

"Ex-Entitlement Time for the Open Offer 8:00 a.m. on 2 August 2018".

[technowiz] 02/8/2018 10:27

why buy b1tcoin you won't be entitled to the open offer..

i just bought some shares in MDC year's low now i think.

[hussyo] 02/8/2018 10:27

- But PwC, the company’s auditors, said there was a “material uncertainty” as to the future of the business since any failure of the share issue could result in Countrywide’s banks withdrawing their credit facilities -

It will likely follow a similar track to MTC, where it tanked on news of the 19p issue, then drifted lower until approval of the plan... and bang! 100+% rise in a day. But until the 28th Aug Longs ought to stay away from their screens...