good one, haha |
Should push on tomorrow |
If a bid does not materialise, there could be a bargain here. |
https://news.sky.com/story/eqt-fund-joins-race-for-steering-wheel-of-2-5bn-firstgroups-us-wing-12181345 |
Sky News has learnt that EQT Infrastructure tabled an offer thought to have been worth roughly $3.7bn for First Student and First Transit just days before Christmas |
It does not seem to have moved at all. I am looking to get back in around 40p. |
All time lows will be tested here. C of 4 complete. |
UK buses will be back to Sunday timetables - or less. |
....oooopps!!!..carnage cometh, England also now in lockdown!!
Target remains 7p..with an easy retreat back towards 25p!!!
Hope this is helping |
Today's turn for the skirt drip clearly shows the false rise we've had and technically now ready to take out my 7p entry target.
Scotland going into full Lockdown!!
Hope this helps |
sales done |
update out |
Stagecoach results very solid and share price doing well off the back of it. Hopefully can read across to here tomorrow. |
Be careful..my bird Sheila is seeing a 3rd wave to this pandemic..your nobs could be crushed.
For that reason and the level of debt currently FGP has,.I have a buy order in at 7p and looking to add another at 5p.
Hope this helps |
The fact the dramatic fall at the start of the pandemic was the same for many stocks and stagecoach replicates the same drop as FGP... the disparity will realign as value will be identified here.I predict a return to treble figures and if news drops re the North American sale as advised and predicted I see a significant uplift here. |
Stagecoach flying and unfortunately this has been left behind |
Where has level4 gone? Cash converters? |
Let's see if that surge of buying into close yesterday is a precursor for the North American sale.Both parts valued at only book at 1GBP PS and with two parts being sold the significant upside is huge An amazing December ? |
 FirstGroup plc
Statement re: Covenant amendment and liquidity update
As previously indicated in the trading update of 15 September 2020, FirstGroup plc (‘FirstGroup’ or the ‘Group’) expects to report a small adjusted operating profit for the seasonally weaker first half of the current financial year. This result would be ahead of the base case scenario outlined in the full year results announcement earlier this summer. As also previously stated the 30 September 2020 covenant tests are expected to be comfortably met when the accounts for the period are finalised. However, whilst the Board is confident that the balance sheet is now robust in a range of downside scenarios, as a matter of prudence the Group determined that it is an appropriate point to secure enhanced financial flexibility from its lenders for the next two covenant testing dates, covering the typical period of twelve months.
The Group has therefore agreed covenant amendments for the 31 March 2021 and 30 September 2021 tests with its lending banks and USPP investors on similar terms. The net debt:EBITDA covenant has been amended to less than 5.5 times and then 4.5 times for the March and September tests respectively (compared to 3.75 times normally). At both testing dates the fixed charge covenant has also been amended to greater than 1.0 times (compared to 1.4 times normally). The Group has agreed that net debt including rail ring-fenced cash will not exceed £2.0bn and minimum liquidity levels of £150m will be maintained during this period.
The Group’s free cash (before rail ring-fenced cash) and undrawn committed revolving banking facilities has remained broadly stable at c.£810m as at 6 November 2020. The Group has ‘investment grade’ long-term issuer credit ratings from both Fitch Ratings and S&P Global Ratings.
The Group will continue to take all prudent and appropriate action to ensure that it emerges from the pandemic in the most robust position possible |
If it hits 50p, then a very happy Monday! |
A robust statement and proving a strong cash balance and savvy adjustments to 2021 convent tests. The fact they returned a profit during a global pandemic is testament this share price demise is a disgrace.Now for the news on the North American parts of the business. Happy Monday |
So I was right then? |
At this rate of daily decline..evidence will be looking at you in 3 weeks. |
Which, presumably, still remains in your imagination? |
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