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IRV Interserve

6.30
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Interserve LSE:IRV London Ordinary Share GB0001528156 ORD 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 6.30 5.795 6.30 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Interserve Share Discussion Threads

Showing 8826 to 8846 of 12475 messages
Chat Pages: Latest  355  354  353  352  351  350  349  348  347  346  345  344  Older
DateSubjectAuthorDiscuss
21/3/2018
18:21
Well done all holders from the lows. I hope the share price rises well over the next 6 months / year for the people who have high averages. Good luck.
eodfire
21/3/2018
18:19
Wouldn't surprise an open on 120p and make way towards 140+
losses
21/3/2018
18:14
well done too!
god knows what the open will be.....

cfc1
21/3/2018
18:13
whowhoknows....I bought at 106, 91, and doubled up at 71!!!
cfc1
21/3/2018
18:11
Cfc1. “How’s your 90p buy in looking now” .LOL. I stayed, and doubled up this morning.
whoknowswhoknowswhoknows
21/3/2018
18:09
...not “ramping”; but I wonder if we’ll see 200p tomorrow? I might be wrong. Brick?
aendjo
21/3/2018
18:01
Well done holders! Patience and nerves of steel tested to the max. It will be an interesting day tomorrow for sure.
How nice to open the thread and not see row after row of "filtered" posts. Bliss!

the juggler
21/3/2018
17:44
Fellow posters, this was a very welcome trading update from the perspective of a long term investor in Interserve. Very positive, indeed.

Facts, as stated in the RNS:
1) Interserve will have cash borrowing facilities of £834m immediately following the refinancing completion and through to September 2021;
2) interest in 2018 will be approximately £56m;
3) The company will issue warrants to [lenders] to buy shares at 10 pence per share, […] for an interest of up to 20%;
4) this has been agreed with the Interserve Pension Scheme.

Debbie’s comment:
1) these new facilities, which will allow the new management team to execute our business plan, focused on delivering a great service for customers, driving growth and restoring value.

My own comments:
1) a 3 year loan of that size is a huge vote of confidence for the restructuring plan put forward by the company (especially in view of recent events); as previously indicated by the Board, there will be an orderly disposal of non-core assets to restore the balance sheet (and to restore shareholders value – as a shareholder I do love that line, first appeared in January update and echoed in todays RNS);
2) interest is 6.7% - hardly punitive and much, much better than was expected; this is serviceable in the short term and will be managed in the medium term as debt is reduced by means of asset disposals;
3) Debt for equity swap of 20% of interest is way better than my most optimistic expectations! A minimal dilution for current shareholders and debt holders on board - very good outcome indeed for shareholders;
4) Pension scheme in agreement - politically a major win given current climate;

Overall, we can conclude that: 1) the company is not going bankrupt, 2) there is not going to be a punitive refinancing with interest rates in the teens, and that 3) there is not going to be a dilutive debt for equity swap. Lenders have seen a recovery plan, are backing it and are not screwing shareholders. Frankly, I could not ask for more.

I shall look at the share price movement with some interest tomorrow. Good luck!

aendjo
21/3/2018
17:40
"Where is 666fen??chicken blew it....jak? Cold Truth and all the other people that called me a lier???"...TONIGHT,S DINNER IS HUMBLE PIE FOR THEM !!!
da vinci1
21/3/2018
17:26
HAYWARDS there are HUGE gov't bids on the horizon...all the delayed Prison deals for starters....

where is 666fen?? chicken blew it.....Jak? Cold Truth and all the other people that called me a lier???

cfc1
21/3/2018
17:22
Some new contract win announcements over the next few weeks would really light the touch paper under the share price :)
haywards26
21/3/2018
17:19
yep haywards.....cab office will love it....now certainty of doing business BUT at better rates than before

THIS WAS NEVER A CARILLION!!!

cfc1
21/3/2018
17:16
I would expect business disposals to improve the profitability of the underlying business (removing unprofitable and low margin contracts) whilst any proceeds would also be used to pay down the debt, which in turn will reduce the annual interest charges.

Confidence in IRV should also now improve when it comes to tendering for new business given their now secure short term financial footing.

haywards26
21/3/2018
17:14
asset disposals WHEN THE company feels the time is right.....exactly what Sutherland said!!!

Oh dear oh dear oh dear all you 'nay' sayers!!!

cfc1
21/3/2018
17:13
The lenders have managed to get a lump of equity without writing off any debt. A good outcome for them and then they force some asset sales to step down the debt.

Interest rate on new debt does not look excessively onerous, at somewhere around 7%. About as much as you could load the company up with and give them a half decent chance of staying alive.

Yeah - kick the can down the road. My concern would be the £834m doesn't give them enough scope for the redundancy bill to reduce the headcount.

cc2014
21/3/2018
17:12
YEAH so much for JacK 75% dilution!! its 20%!! thats nothing...Hedge Funds screwed! Massive facilities and right through to sept 2021!!

So there really WAS A BRILLIANT PLAN!!!!!!!!!!!!

cant wait for the OPEN tomorrow!

cfc1
21/3/2018
17:10
I see that cash interest will be £34mpa compared to £24m in 2016..
I would have thought increase would have been greater.
For me more positive than negative

cerrito
21/3/2018
17:09
There's little doubt about that Haywards - it closed at 87p in the auction this evening.
nigelpm
21/3/2018
17:09
Brick is probably smoking. And that's not a cigarette.
eodfire
21/3/2018
17:06
The only thing I never seen answered in the RNS, and which I think is the most important question here is... Where is brick?.
unnavailable
21/3/2018
17:06
At least all the references to irv being the next clln can be put to bed.
eodfire
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