Greencore Share Discussion Threads

[totalgeek69] 11/12/2018 09:00

IMHO - Basically the shorts were placed last spring based on mounting debt due to the company looking to get into the US market and the issues they were encountering adapting the US business.

As the company has now left the US Market and the debt will be reduced the shorters are backing off...

[richtea2517] 10/12/2018 18:24

Shorts down to lowest in a long time - wonder why?

[des31] 08/12/2018 18:55

First quarter of calendar year 2019

[totalgeek69] 07/12/2018 11:51

2nd quarter 2019 for the special dividend

[richtea2517] 07/12/2018 09:58

Anyone know timescale for dividend from this point

[epo001] 26/11/2018 19:09

Has anyone looked at how are the EPS and PE likely to be affected? Did the US subsidiary provide 32% of earnings and profits which is about the expected reduction in share capital.

My quandary is I am happy with my holding size and 2/3 of that is a bit small so if I want to continue to hold GNC then do I scale up before or after the special dividend? I suspect dividend reinvestment will be the easiest course of action.

[totalgeek69] 26/11/2018 17:27

Decisions... decisions.... Makes no odds I would say... Sorry that isn't very helpful.

[epo001] 26/11/2018 17:01

Are people hanging on for the special divi or not?

It seems that the share consolidation is intended to reduce the value of my holding by the amount of the special divi. I hold GNC in an ISA so I have no tax considerations but will have a markedly smaller holding after consolidation.

Should I just scale up my holding now to get some back as a divi and end up with my preferred holding size? Or should I wait for the ex divi price drop and top up then?

[richtea2517] 22/10/2018 09:43

Think a final shake out before steady rise. I think. Although many forces at work will ensure it probably won't be that steady...

[bend1pa] 22/10/2018 08:40

Looks like at long last shorters are starting to lose their appetite over GNC. Big drop in shorts over the past fortnight, down from 9.88% to 5.77%, the lowest level seen in 10 months.

[totalgeek69] 19/10/2018 21:37

Marshall Wace LLP 3.10% Short 9 Oct 2018
Marshall Wace LLP 2.12% Short 17 Oct 2018

[totalgeek69] 19/10/2018 21:35

They will be reducing debt as well though. The share price is very depressed at the moment and imho will not be so under pressure once the share price div is returned as they are returning to the UK market only where they are already doing well. Admittedly all this is less exciting.

"Reported revenue in the Convenience Foods UK & Ireland division increased by 14.3% to GBP1,438.4m"

FY17 FY16
Net Debt (519.2) (331.8)
EPS 1.9 9.5

The Transaction will also support a strengthened balance sheet, with up to GBP293 million to be used to reduce leverage, and a target medium term leverage range of 1.5-2.0x Net Debt / EBITDA

Post-Transaction, Greencore will have a leading position in its core UK market, greater financial and strategic flexibility, and potential for dynamic capital management

The shorters will most likely withdraw and cut their losses...

DYOR

[totalgeek69] 17/10/2018 20:58

They're sh#tting their pants I guess. How many shares X 72pence?

[richtea2517] 17/10/2018 19:04

Marshall wace been very active here

[bingaxu] 15/10/2018 23:12

https://www.ft.com/content/2cc23058-d05a-11e8-a9f2-7574db66bcd5

[hatfullofsky] 15/10/2018 15:44

They did a placing to fund the acquisition, so returning the cash back to investors.

Although I agree they could have paid down more debt

[epo001] 15/10/2018 13:40

Given they could have eliminated debt and still paid a chunky special divi, what is the rationale for doing what they have proposed doing? I mean lots of people will just buy the share for the divi, whereas paying off debt is a longer term benefit.

[bingaxu] 15/10/2018 12:52

Thank you, Is there date that is ex -special dividend for this occasion?

[bashor] 15/10/2018 12:34

72p per share you own

[bingaxu] 15/10/2018 11:31

Thank you very much. for that. So how much dividend will we receive at this stage?

[hatfullofsky] 15/10/2018 11:05

Looks good, remaining UK business should be generating ~ £115M Adj Op Profit. Debt down to ~ £200M. Which could still be viewed as quite high.

But good business, un-solicited too

[18bt] 15/10/2018 10:48

Cracking deal, makes remainder look cheap and burns shorters

[18bt] 15/10/2018 10:48

Cracking deal, makes remainder look cheap and burns shorters

[cool runnings] 15/10/2018 10:38

It's basically a dividend , but because of the size and the fact it's an unscheduled and large payment they call it's " special "