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FIN Finablr Plc

10.48
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Finablr Plc LSE:FIN London Ordinary Share GB00BJ7HMW26 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 10.48 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Finablr Share Discussion Threads

Showing 1201 to 1224 of 1675 messages
Chat Pages: Latest  55  54  53  52  51  50  49  48  47  46  45  44  Older
DateSubjectAuthorDiscuss
08/7/2020
08:49
shareholders wiped out?

Travelex debtholders take control with £84m funding

farrugia
07/7/2020
17:38
Travelex reaches agreement on debt restructuring with £84m funding and announces trading updateTravelex is pleased to announce it has reached agreement with at least 66.7% of its Senior Secured Noteholders (the "SSNs") and all of its Revolving Credit Facility ("RCF") lenders on the terms of a comprehensive debt restructuring.The transaction will provide the Company with £84m of new liquidity and an 84% reduction of its existing financial debt, providing a stable platform from which to emerge successfully from the challenges posed by the Covid-19 pandemic.Key terms of the restructuring:? SSNs, led by members of an Ad Hoc Committee of SSNs (the "AHC"), will take full control of Travelex? £84m of new money cash funding will be provided by participating SSNs in the form of New Senior Secured Notes? The AHC will provide an initial commitment through bridge funding of £15m provided yesterday (to be refinanced by the New Senior Secured Notes), with upsizing flexibility for both the AHC and any participating SSNs wishing to subscribe? Full equitisation of the existing €360m SSNs? Full reinstatement of the existing £50m RCF in the form of a Reinstated Term Loan and c£10m guarantees in the form of reinstated guarantees (together, the "New RCF")? The New Senior Secured Notes will be underwritten by members of the AHC, and available to all existing SSNs for participation on a pro rata basis? Participants in the new money will receive 100% of the equity in a new Travelex group holding company (New Holdco)? SSNs will receive warrants over 17.5% of New Holdco equity at exit. Bridge Funding providers will receive further warrants of 2.5% of New Holdco Equity? A 50bps incentive fee for SSNs that sign into the Lock Up Agreement
zen12
03/7/2020
15:54
Should get an RNS next week from Travelex on negotiations on refinancing.
zen12
28/6/2020
15:30
Record holidays booked future could be a little better
bubsy2
22/6/2020
07:45
How many times do you have to repeat your predictions,
We don't all have a goldfish memory!!

shares188
21/6/2020
07:37
this is a zero. I got screwed with their shares - at least I got out before suspension with a BIG loss. These fraudsters have stolen everything - time and time again it is the same story - the fraud is only uncovered when there's nothing left to suck just like wirecard.
farrugia
17/6/2020
22:50
July 2nd it is then😉
2 weeks to go

shares188
16/6/2020
00:48
You are FOS
letmepass
15/6/2020
22:45
Not quite, key date is the July date this will dictate how this may pan out..
zen12
15/6/2020
20:22
bondholders have full control now - zero equity value for shareholders.
farrugia
15/6/2020
16:56
Travelex Says Sales Process Aborted As Offers Unacceptable To LendersMon, 15th Jun 2020 16:57(Alliance News) - Finablr PLC's foreign currency unit Travelex Financing PLC on Monday said its sales process has been terminated as the offers received have been deemed unacceptable by its lenders.The company said that while it received a number of non-binding offers, they were rejected by the revolving credit facility lenders and holders of senior secured notes.Travelex said discussions have continued between lenders and a group representing over two thirds of senior secured noteholders in relation to a long-term new money financial restructuring of the Travelex Group.It added that while the terms of the restructuring are being negotiated, it has been granted a temporary waiver from more than 70% of noteholders which ensures that no enforcement action can be taken until July 2 in relation to the non-payment of EUR14.4 million interest coupon which was due on May 25."This forbearance agreement provides the stability required in order for lenders to finalise their discussions on a debt restructuring which we expect will recapitalise the group's balance sheet and inject new capital into the business. Travelex remains extremely grateful to our customers and suppliers, and broader stakeholder base, for their continued support during this unprecedented and challenging period," said Travelex Chief Executive Tony D'Souza.Finablr's shares were suspended from trading in March.
h2owater
14/6/2020
11:53
I second that !!!!😉
This will ping back into action soon enough

shares188
12/6/2020
11:06
Its a zero

hxxps://www.cityam.com/travelex-set-for-restructuring-after-auction-process-halted/?utm_content=buffer6ece8&utm_medium=social&utm_source=twitter.com&;utm_campaign=buffer

nothing will be left for shareholders. Debt investors trying to take control?

farrugia
07/6/2020
16:39
Richest banker in the world Joseph Safra weighs up bid for Travelex

Joseph Safra is ranked by Forbes as the world's richest banker with $25.2bn

An investment firm working for the Safra family is a potential Travelex bidder

By BEN HARRINGTON FOR THE MAIL ON SUNDAY

PUBLISHED: 22:32, 6 June 2020 | UPDATED: 11:54, 7 June 2020

A family investment vehicle backed by the world's richest banker is weighing a takeover bid for airport currency giant Travelex.

City sources said an investment firm working for the Safra family is one of the potential bidders to have lodged interest in buying Travelex with advisory group PWC, which has been appointed to find a buyer.

The head of the Safra dynasty is Joseph Safra, who is ranked by Forbes magazine as the world's richest banker with an estimated fortune of $25.2billion.

h2owater
31/5/2020
14:04
Is that a month from Now?
or since suspension..

shares188
29/5/2020
20:27
Shetty is a fraudster - just wait a month nothing will happen. I find it impossible to believe that Shetty wasn't central in this scam. His place is behind bars in a dark prison cell.
farrugia
29/5/2020
19:47
It seems to raise more question on the role of auditors, advisers, the london stock exchange, the role of directors and non ex directors. The companies involved in the london listings all should be investigate their roles.

It seems they earned the fees and left us all home and dry.

It may or could be fraud as Shetty suggested than was everyone sleep on the job or was it in hands with the local UAE banks and some of staff who may have committed the fraud. Who knows what really happened but we are ones who lost out as shareholders.
All the statements that nothing was wrong could be misleading as well all is not as it seems.

UAE agencies have lot to answer and ensure accounting standards are improved. It seems to wide west and no one trust what happens UAE?

crowshott
29/5/2020
16:08
Coming back from the dead?https://www.thenational.ae/business/economy/bank-account-freezes-hit-other-parts-of-br-shetty-s-empire-1.1025392UAE Exchange is part of the Finablr Group, which listed on the London Stock Exchange last year in a deal valuing it at over £1.2bn (Dh5.4bn). The company also recently announced liquidity problems and the discovery of previously unreported debts of $1bn, bringing its total debt to $1.3bn. Its shares have been suspended from trading since March.Mr Shetty, who remains as co-chairman and majority shareholder of the group, said he is confident about its future and is working on bringing in external investment."We are working on it – on getting a good investor," he said.Asked how long this would take, he said "within a month, maximum".
zen12
24/5/2020
21:48
Speak for yourself 😂
shares188
21/5/2020
21:19
its a zero. shetty screwed us all.
farrugia
21/5/2020
17:45
50p return 👍
shares188
14/5/2020
18:34
Oh GOD.
I hope they're not going to do this for 6 months!!!
Extension after Extension!!!

shares188
10/5/2020
18:52
Yep it seems we have been ripped off. I will never invest in a Middle East based company again.
acv74
10/5/2020
13:37
If we understand what B R Shetty is claiming that he and his family has done by the fraud where were check and balances in place at all levels inc the local UAE authorities since most of it seems occurred in UAE? It seems that UAE local authorities and local banks may be all part of the fraud which has claimed to have occurred. Surely trace of funds transferred should be easy to trace in the current climate. It all seems un real in current climate that such types of fraud can occur with such a large company. Unless it was happening for some time even before the float occurred on the London Stock exchange. It shows now wide west is the UAE for compliance and true accounts are questionable for many companies?
crowshott
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