International Distributi... Share Discussion Threads

[casholaa] 30/3/2023 19:31

Indeed. I'm hoping to put a couple of days in at Chesil in the next month or two. May even try out my spitting wire if I can find somewhere suitable.

:o)

[cwa1] 30/3/2023 18:46

Sorry, if it doesn't make the Angling Times or the pub it's no use to me 🙂

Seriously though, it's time to stop annoying the good burghers of this thread and move on to more important things. So I'm happy to leave it at that too.

Good fortune!

[not my real name] 30/3/2023 18:01

LOL.

OK. It's pretty much irrelevant but because I still don't understand I'll have one final try and promise to never raise the matter again after this.

At the time of the Government referral (25 Aug 22) and after the Government clearance (31 Oct 22) it was reported on every national TV and radio news channel as well as every newspaper (with the possible exception of the Angling Times) :-)

I accept it wasn't the topic of conversation in every pub or corner shop but it was most definitely a story available to the wider public. Whether they chose to read it or not, I don't know.

NMRN

[cwa1] 30/3/2023 15:11

LOL, we really do seem to be at cross purposes here! I'm refering to the wider public, rather than at Governmental levels or on a business thread devoted to the company! It just strikes me that this is a fairly big thing in a national institution and you barely hear a mention of it anywhere.

As I've been one of the people posting on this very matter here for months it's hardly likely that I've missed it ;-)

[not my real name] 30/3/2023 13:49

CWA!

It was referred to the Government last year because of national security concerns. How can you say "barely anyone has mentioned it?"

We've been talking about it on here for months.

NMRN

[cwa1] 30/3/2023 13:39

NMRN

Not QUITE what I meant!!

The 24 to 25% WAS like night following day.

I really was referring to the fact that ANYONE had so easily managed to take such a big stake in a national institution like RMG and barely anyone has mentioned it!

[not my real name] 30/3/2023 13:32

CWA1

"Amazing to see that VESA have just gone over a 25% holding here."

Some events in life are amazing, this one was entirely predictable.

See post No 569 dated 27th March. The day Kretinski passed the threshhold!

NMRN

[casholaa] 30/3/2023 12:21

Dave Ward ought to get his subscribers to take a pay cut as a gesture of goodwill to keep RM going.

[tuftymatt] 30/3/2023 11:11

It's as we have been saying for months here, the £4 valuation of GLS sort of means a break up isn't an issue for any shareholder holding at under that if the worst happens.

Hand back everything else, UK property etc, and let the country sort out their own mail / parcel delivery.

If this was a bad thing for the share price it would be well under 200 now and they would not have been adding recently. You can be sure the worse case has been discussed by the big boys and they know they are going to be ok.

[cwa1] 30/3/2023 10:42

Amazing to see that VESA have just gone over a 25% holding here

[blackhorse23] 30/3/2023 10:13

Another postal strike on the way for wages dispute

[geckotheglorious] 30/3/2023 09:42

LEF
"Turning a white elephant into something that earns it's keep, would go down well with a slice of the electorate"

With they'd do that with the BBC !

[irenekent] 30/3/2023 08:52

Anecdotal evidence is that the workers are fed up with Dave Ward and the CWU. How can the company pay any more when they are losing £1m a day. Ward and Co. are just posturing to justify their position and failing to confront reality of a situation that is getting steadily worse for their members. Strikes will only hasten the end.

[rudder] 30/3/2023 08:38

Is David Ward sound of mind?

[careful] 29/3/2023 22:02

What a mess.
Reminds me of the Railtrack shambles.

[not my real name] 29/3/2023 21:47

I do not see where this story about selling off GLS has come from. The company have clearly stated their plan would be to float GLS as a separate entity. Each IDS shareholder would be issue with 1 RNG and 1 GLS share for every IDS share held. Each company is already a separate legal identity under the banner of IDS holding company.

GSK did exactly that when they floated Haleon in June last year.

Under this scenario RMG would be effectively a dead duck but GLS (circa£400m annual profits) would be valued at around £4bn or £4 a share. That is why the IDS share price is not tanking when threats of insolvency are being bandied around.

The ideal scenario for shareholders would be to turn RMG into a £400m profit machine as well but if this is not possible...........second prize will do me!

NMRN

[yieldmonkey] 29/3/2023 17:31

The thing is RM cannot sell off GLS/Parcelforce without it being part of the end game as RM would almost certainly be insolvent if the proceeds were distributed to SH. Their credit facilities - MAC clauses, key ratios etc would never allow this.

Pure speculation, but in the unlikely event that this happens any time soon, the disposals would be used to repay the lenders who would get out ok (otherwise they would not ok it). Shareholders would get whatever is left after that - % in the pound. Any administrator is unlikely to find a £££ buyer for the business as it currently stands.


ps did I head Raab today blaming Covid for all this? Jeez

[casholaa] 29/3/2023 17:11

I think we're now looking for the workfarce to go back to work and forget all silly ideas or for RM to go into liquidation and a sale before the appointment of an administrator. The workfarce may want to think about a pay-cut and re-adjustment of their work ethic to save the company as a gesture of goodwill. This is going to be hilarious.

[casholaa] 29/3/2023 17:04

Better description

hxxps://www.lewissilkin.com/en/insights/insolvency-and-tupe

[casholaa] 29/3/2023 16:40

hxxps://www.begbies-traynorgroup.com/articles/rescue-options/how-does-tupe-apply-in-an-administration-process

[lefrene] 29/3/2023 16:15

Gecko, here's just one link from several. As some here speculated, that separating parcels from mail could be a gambit to dump the Mail side of things. It might suit some of the politico's too? Turning a white elephant into something that earns it's keep, would go down well with a slice of the electorate.

[geckotheglorious] 29/3/2023 16:08

Into administration!
Wow.

once again, evidence that the company wasnt floated off on the cheap - in fact I'd say absent all the froth and irrational exuberance the issue was priced much around fair value.

The fact it shot up early doors was market speculation.

[lefrene] 29/3/2023 15:33

I see IDS management are threatening to put Royal Mail into administration. Perhaps a bluff, but on the other hand it would provide the shake up needed to put it on a proper commercial footing. All those other carriers riding on RM coattails for the 'last mile' would have to pay the proper cost instead of the subsidised service they currently profit from. It might make a few low skilled people also realise that they are not entitled to a job for life, for more money than they're worth. Mind you imo much of the benches of the House of Commons tick that box.

[careful] 29/3/2023 15:19

The trouble is that the UK is not a capitalist country.

Free market capitalism is the best system, but the CWU note from yesterday seemed to be from the senior management who run the company and always have.
This company is run for the benefit of the employees and is controlled by the Unions who will never give up power.

It was never really privatised because of the surrender documents of union agreements were signed by Vince Cable at the time of privatisation.

I hold here, always thinking that the culture would gradually change over time, but it has not.
I rely on those analysts who research the company, highly paid full time supposed bright boys. They fail time and time again to understand these companies so we find out the hard way.
They are staggeringly useless. As the queen said to Gordon Brown at the time of the banking crisis, 'did no one see this coming'.