Discover Leisure Share Discussion Threads

[this_is_me] 15/6/2009 08:21

Does somebody know something about the meeting or is it just somebody gambling? Certainly a big jump this morning.

[jayson26jay] 15/6/2009 08:19

disl needs a 75% acceptance from creditors, the inland revenue and customs are by far the biggest creditors, they are generally supportive in CVAs.

[robandkerry] 12/6/2009 12:50

That post will really deliver results on Sunday night. LOL :)

[stegrego] 10/6/2009 18:59

robandkerry - 10 Jun'09 - 18:53 - 569 of 570

The CVA Meetings for creditors of Signlease will be held at 11am on June 15 2009
at the Hilton Hotel, Neville Street, Leeds, LS1 4BX.

If the creditors agree to the CVA which im sure they will, the future of DISL will be secure.

We could see the share price trebble tomorrow. If you have any spare cash you have until 11am to get it into DISL.

----------------------------------------------------------------------------------


Tomorrow is the 11th, not the 15th....

About sums up anyone who thinks this is a great buy - ie dont know what day it is!

[sipp_2005] 08/6/2009 21:59

It isn't as though the company hid the fact that things were very tough even trying to take the wind out of the rampers sails with their RNS commenting on the SP

[robandkerry] 08/6/2009 12:49

Just topped up with a few more of these. We will see 2p min once the CVA is accepted. Great buy at these levels. DYOR.

[barnetpeter] 02/6/2009 21:31

This is dreadful. 15% interest rates, fees galore etc. I really would not put too much into this - out myself now. I cannot see what will be left here after all this debt is paid off. The property mkt is not an easy one to raise all this cash. If the company does not meet its shortterm targets the bank will pull the plug I reckon. Good luck.

A "non-performing" loan of GBP5m secured against the remaining seven freehold
properties, which have an existing use valuation of GBP4.4m as valued on 27
April, 2009 by Sanderson Weatherall. This loan will be repaid out of the net
sale proceeds of these properties. Interest will be rolled over into the capital and will be charged at a rate of 7.5% in the first year rising to 15% in the third year. It is envisaged that all properties will be disposed of in the three year period and as a result the loan repaid in full during that period. Any shortfall from the net disposal proceeds will be met out of operating cash flow and any excess will be used to repay the above term loan.

The Directors envisage that securing alternative use values will ensure that the net proceeds will repay both capital and interest in full.

3) An overdraft facility of GBP3.0m with interest charged at 4% above Base rate.


The cost of securing this facility is GBP100,000 payable upon the signing of
facility documentation.

The Company will grant warrants over 5% of the nominal value of shares in issue
of Discover Leisure plc to RBS.

[this_is_me] 02/6/2009 14:09

The statement was short on current trading and outlook and seemed to deliberately talk prospects down and throw the kitchen sink at things in order to get the CVA through since the tax people are particularly hard to deal with in these situations. The next quarter's statement will be interesting to read once the dust has settled after the CVA meeting.

[jayson26jay] 02/6/2009 08:55

"bigger more established competitor" - who? they are/were the biggest.

[robandkerry] 01/6/2009 15:28

With a market cap of just over 1.3 million I think DISL could be a target for a bigger more established competitor.

[robandkerry] 01/6/2009 15:24

Good post kammi1.

This is taken from the yorkshire post.

Our banks believe in the long-term future of the business and also our manufacturers and suppliers who we have been in consultation with."

Under the terms of the CVA, Discover proposes that unsecured creditors of its main trading subsidiary, Signlease, are repaid 22 per cent of what they are owed – £2.29m over the next five years.

It argues creditors stand to recoup far less if the company is forced into administration or liquidation.

Discover needs 75 per cent of unsecured creditors to approve the CVA, but Mr Parker said he "pretty confident" this will be achieved.

Discover's banks have also agreed new facilities, including an £8m loan from RBS and a £20m facility from Lloyds.

[kammi1] 30/5/2009 11:26

Some news in papers today if they succeed this will turn out to be a good investment if not its administration.





Best Wishes
Kammi

[robandkerry] 29/5/2009 17:37

Why do you keep going on about pump and dumpers. Did you get caught out?
You get pump and dumpers on every stock. Just DYOR and you dont need to worry about the pump and dump merchants.

[getting started] 29/5/2009 11:56

--------------------BEWARE OF HENA79/TREACLE28--------------------


-----------------------NO 1 PUMP AND DUMPER-----------------------


--------------------BEWARE OF HENA79/TREACLE28--------------------


-----------------------NO 1 PUMP AND DUMPER-----------------------


--------------------BEWARE OF HENA79/TREACLE28--------------------


-----------------------NO 1 PUMP AND DUMPER-----------------------

[shammytime] 29/5/2009 11:56

This looks interesting...

[hena79] 29/5/2009 11:17

Still good buying.

[argy2] 29/5/2009 10:40

"Don't exactly want buyers it seems with the large spread"

Classic...lol.

[knitcraft] 29/5/2009 10:39

Conversley they don`t want sellers.

[hena79] 29/5/2009 10:35

Don't exactly want buyers it seems with the large spread.

[hena79] 29/5/2009 10:28

All the bad news priced in and can only go up from here.....another very hot weekend on its way.