Esken Share Discussion Threads

[fenners66] 06/3/2024 14:03

And the deluded still voting down common sense - I don't take much notice of the thumbs down - but here it does show that you can lead a horse to water but you cannot make it drink...

[stockriser] 06/3/2024 12:51

Twists and turns - and more to come in my opinion ;-)

GLA SR

[rupert57] 06/3/2024 12:47

It does seem that the directors have negotiated their way into continued fees and salaries for themselves for the rest of 2024 while the shareholders they are meant to be acting for will get nothing.

Surprised the major shareholders aren't up in arms and suing the directors for incompetence verging on fraud.

[lpavlou] 06/3/2024 12:15

Cyrus are owed 53m and will end up exchanging this bond for 17.5% of LSA, via an equity issue which will include all money left over from the disposals. There is nothing left for shareholders. Management have sold out shareholders to keep their jobs. This was always a huge punt.

[stockriser] 06/3/2024 12:00

I made a small purchase this morning on the basis that I believe shorts will be closing - puchased at 0.04 now being offered 0.056 - I continue to hold.

GLA SR

[jubberjim] 06/3/2024 11:43

yet another company fallen by the wayside

I have flown out of Southend Airport on many occasions

But it is proving to be a milestone for so may companies

Think back to Wiggins


Best wishes to anyone hurting this morning

I have been there it is not nice

[neilyb675] 06/3/2024 11:28

Going private is not always a bad thing.

FCRM did go private not so long ago.

Still exist and still hold the shares. That was an asset grab.

[fenners66] 06/3/2024 10:52

Neilyb675 - are you now going to go back and uptick all my previous posts that warned you and others about this mess for years?

Even if you hold now and eventually get something back (not that I think you will) - if you had waited until this news before buying how much would you have saved?

Down 67% today - down how much since you bought?

I have made no gain at all from Esken - my ideas were just shared , that's what these BB's are for .

However I did avoid a 99.9% LOSS by not buying when I first looked at them for yield. I have been consistent the whole time , and ultimately am happy I can recognise a basket case.

Not the first basket case I have discussed on these boards ....

[sipptrader88] 06/3/2024 10:51

fair points fenners66...thanks.

[fenners66] 06/3/2024 10:46

sipptrader88 - but the RNS says they are winding down the group and need to pay their creditors

Do you think they are lying to their shareholders when they say the return to shareholders will be negligable ?
Going private means they do not really want shareholders - they are not important any more.
Selling the shares will be difficult at best or perhaps nearly impossible.

Shares may be being bought back by short sellers

[sipptrader88] 06/3/2024 10:34

I get the fact that the shares are to delisted and the expectation is a negligible if any return for ordinary shareholders...but I have two questions:-

1. "conversion of the £24.3 million debt due by LSA to Esken Aviation Limited ("EAL"), a wholly owned subsidiary of the Company, into a 17.5% stake." does that not mean we Esken Ltd. still own 17.5% of LSA.? and if so would ordinary shareholders not still own the same albeit with delisted "private shares"

2. How come the shares being sold today are not "No trade"? Where is the money coming from to settle the sell?

could this be a punt to buy at all?

[neilyb675] 06/3/2024 09:18

At the current share price my thoughts are it is better to hold till the very end to see what negligible actually results in, versus pretty much nothing at the now price.

If a total write off then that has some use in tax return to offset against CGT gains.

The comms have been strange to put it mildly.

Robust case, no default.

Extension, negotiation continues.

Decided to accede, negligible value left, months to finally resolve.

I'm not selling nor buying. Will use to offset in tax return.

[rupert57] 06/3/2024 08:46

"The Company has agreed to accede to that recapitalisation proposal in relation to LSA. This will therefore proceed on a consensual basis, rather than through a contested court process, which could be potentially destructive for all stakeholders."

Yet the return to ESKN shareholders will now be "Negligible", so why didn't they contest what they said was a bogus accusation anyway? If Cyrus then ended up with less, what do we care, and it might have persuaded them to withdraw the accusation before it went to court.

[fenners66] 06/3/2024 07:33

Do you want to go on about TOSCA again Neilyb675 ?
Still planning your trip to the moon?

Oblivion.

[fenners66] 06/3/2024 07:31

You were warned peeps....

"The expectation is that any return for shareholders at the end of the process is likely to be negligible. Cyrus will provide liquidity to the Esken group to meet its working capital needs during this process and to allow an orderly wind down of the remaining group."


Negligible , sweet FA, its dead , moribund , gone to meet its maker, it is no more !

As said for a long time now ...A fool or the desperate gambler and their money , are easily parted.

[neilyb675] 05/3/2024 07:28

Extension.....but no date given as to when.

[roddyb] 01/3/2024 09:54

I wish every shareholder could quote the following to our “enlightened board” five years ago.

-the late Sir Adam Thomson, the founder of an airline BA went on to buy, British Caledonian, memorably pointed out: “A recession is when you have to tighten your belt. Depression is when you have no belt to tighten. When you’ve lost your trousers — you’re in the airline business.”

(From todays Times)

[fenners66] 27/2/2024 10:26

LOL.

A fool or the desperate gambler and their money , are easily parted.

[paa65] 27/2/2024 09:58

Market cap is now below 1m GBP.Be careful if buying - you might actually take it private by accident.

[neilyb675] 23/2/2024 08:03

12 Jan price showing as 0.94p

[neilyb675] 23/2/2024 08:00

In the context of a rescue takeover, a potential bidder may indeed offer a lower price than the highest price paid for the target company’s shares in the preceding 12 months. Although the UK Takeover Code typically requires a mandatory offer in cash at the highest recent share price, flexibility is allowed when a company is facing severe financial difficulties and exploring rescue options. In such cases, the Takeover Panel may grant dispensations from the Code to facilitate rescue operations and allow existing investors to consider a rescue takeover

[neilyb675] 23/2/2024 07:56

12th Jan RNS was a TR1 notification of holding from TOSCAFUND ASSET MANAGEMENT LLP.

They moved to 29.753872%

They very nearly have to bid for the whole company. Yesterday volume included some chunky buying. NIAI

[rupert57] 23/2/2024 07:51

Tosca has been selling down other investments, so they may be making a move on Esken.

At the current price (and trading volumes) it wouldn't take much to build a sizeable stake and control the decision-making.