Eros Media 26 Discussion Threads

[spectoacc] 13/6/2019 07:43

Nah, we only get involved when Eros goes bust IMO! Wonder what Reliance are thinking about their investment..

[grahamg8] 13/6/2019 07:32

I would have thought so tightfist. We have suffered a similar price drop. Either the Company were mistating their financial position or the claims that they were are wrong. Either way we suffered a financial loss. Worth asking the lawyers if they would include a separate sub group in their pending legal action.

[tightfist] 12/6/2019 18:30

"The credits roll" must be my choice for Eros. Time to look more closely at our security; I wondered if we would have a potential claim as bondholders?

[grahamg8] 12/6/2019 18:12

Vultures circling. Five separate law firms actively seeking to build a client base of shareholders with a view to claiming compensation. At the moment their target seems to be Eros and its officers. But if the accusations of irregularities are shown to be untrue then presumably they would shift their target. What is true is that the share price has dropped and shareholders have huge paper losses. Whatever happens I suspect it will be the lawyers who come out with most of the money. This might all drive Eros into simplifying their structure which has been frequently criticised in the past as well as now, and they might even have to sell their film catalogue to realise tangible value. It's not all over till....choose 1 from 'the fat lady sings', 'the final whistle','the credits scroll'

[tightfist] 12/6/2019 10:49

.Thanks planetgong, concerning reading (requires registration and tedious scrolling!), underlines my concern about the complexity of their structure, amongst other things:.hxxps://www.moodys.com/research/Moodys-downgrades-Eros-Plcs-rating-to-B2-outlook-negative--PR_402690Cheers, tightfist

[planetgong] 12/6/2019 09:42

Moodys downgraded eros to B minus. The report can be googled and is free to read. I think eros will come to a deal with their bankers but it is a farce.
Ps it seems there really is 20m lying around in an offshore bank acc... Moodys comment on it.

[tightfist] 10/6/2019 15:49

See the "Bollywood" thread.

[tightfist] 10/6/2019 09:49

Once again the ADVFN chart is distant from the stated prices. And trades are definitely not being reported (at least on this market). EoD ShareScope Gold volumes are consistent with ADVFN.

[spectoacc] 10/6/2019 07:24

A buy back?! With what! :)

[tightfist] 10/6/2019 07:04

Also this link has just arrived, note paragraph 5:.hxxps://erosplc.gcs-web.com/news-releases/news-release-details/eros-international-plc-announces-share-repurchase-program.I think this goes some way towards answering your question! tightfist

[spectoacc] 10/6/2019 06:58

And if they do default - we're not at the back of the queue like shareholders are.

Dunno though - who would have the rights to the back catalogue, that would be where the value was!

[tightfist] 10/6/2019 06:56

Good question! What I do know is that the 2021 bonds, if they do not default, offer a 40% capital gain over 28 months, combined with a running yield of 9%......

[tightfist] 07/6/2019 20:26

Yes, good to see the rapid bounce - but IMO the ADFVN trading feed isn't reflecting what's going on in actual market(s). My purchase early afternoon yesterday wasn't reported - nothing unusual about that, but the price chart is indicating an underlying parallel story....... Where today's closing prices came from is anyone's guess!Re: your comments about Heads-will-Roll one wonders whether we are seeing symptoms of a simple breakdown in communications or something more sinister......Time will out! tightfist

[grahamg8] 07/6/2019 17:01

LSE, HL and ADVFN showing no trades. But you certainly can trade these, and I have topped up. Showing a nice paper profit. Not yet enough to pay for the loss yesterday. So I'm holding overweight. If there are plenty of PI's doing the same then a squeeze could develop. Selling or shorting the shares or bonds might prove very expensive. The reason for not making interest payments on time needs to be explained in order to satisfy the market that there really isn't anything underlying wrong. A few heads may need to roll.

[spectoacc] 07/6/2019 08:56

Are you short it @MRF? The shares at least? If not, why not?

Edit - hopefully not short the bonds ;) (Unshortable I'm sure).

[my retirement fund] 07/6/2019 08:54

Well that statement hasn't made things any clearer! Its still insolvent as they couldn't find tge cash.

[this_time_its_different] 07/6/2019 08:48

strong buy, bond price moving up as we speak. Like I said, business as usual, nothing is wrong. Just pick up cheap bonds.

[tightfist] 07/6/2019 08:06

IMO I struggle to believe that they will allow default on the Bonds whilst they are simultaneously pursuing a fund raising, but then I have been shocked before! I would love to see the face of the Eros Intl. CFO this week.....

[grahamg8] 07/6/2019 07:48

Further clarification from Eros if you hadn't seen it:

Eros provided further clarification on Friday:

“As previously communicated through our Indian subsidiary, Eros International Media Ltd. was late on two loan interest payments for April and May 2019. These interest payments total less than $2 million and are currently in process of remittance," the U.S.-listed parent Eros International Plc said in a clarification to the exchanges.

To put this in context at the current share price of $3.71 the Mcap is $268m, and pre yesterday collapse the share price was $7.30 ie Mcap of $527m.

Bounce due.

[spectoacc] 07/6/2019 07:41

Thanks @tightfist - like you, I'm not entirely sure, due to subsequent changes.

What I do (think) I know is that the co needs to be pretty much at zero before ERO1 is in trouble, and in the past they've "always" found a way of raising more money. ie whilst the shares have a value, the debt ranks higher.

D4E not impossible if it went bust (ie haircut), but it's so opaque that going bust may not leave a viable business.

However - there's massive value in the back catalogue. But who owns it, and are we secured (or ranking high enough) against that entity?

2021 until bond redemption, and it's not a huge amount of money, and it isn't the first time ERO1 has done this.

[grahamg8] 06/6/2019 17:12

Assume your debt interest is 1% per month, not unreasonable for India and you owe two months on Rs550 Crs then the amount owed is Rs11 Crs. simply draw down from the Rs200 Crs unused headroom. Yes Eros have huge problems collecting what is owed to them but this also seems to be the norm in India and in the film industry.

[this_time_its_different] 06/6/2019 15:01

great buying opportunity here