Invista EUR Prf Discussion Threads

[loverat] 14/7/2015 14:56

So much for the views on this thread that the preferences were safe. Look at the spread. Yesterday it was 4000%.

We know the management here are useless but the spread is even more comical.

[chinahere] 14/7/2015 14:04

Is anyone able to show a 'Level 2' order book for these ?

It would be very interesting to see.

Thanks.

[my retirement fund] 14/7/2015 14:01

Market makers are having a field day here, no online bids, complete black opaque market process appears bidding 5 pence and less and offering at 30 pence.

[skyship] 14/7/2015 13:36

Well, if I could buy at the bid price I would certainly be bidding 5p here; with a high expectation of at least a 3-bagger...

[skinny] 14/7/2015 12:55

I see the offer has gone to 2p - marvellous!

[chinahere] 14/7/2015 12:52

Yes, I fear the same erstwhile2. Nil for the prefs looks quite possible.

[stemis] 14/7/2015 10:06

As at 31 March the net assets attributable to ordinary and preference shareholders were E60m. The impact of the default and unexpected lease break is to reduce this by only E6m. 'As a result', however, we need to sell everything immediately and take a potential E54m+ loss on the remaining E226m valuation? That's a 25% reduction!

I've long thought the ordinary shareholders were toast but this is all about adjusting the expectation of the pref holders that they aren't going to get all their money back, so that when they get some, they'll be grateful.........

[badtime] 14/7/2015 09:38

Oh deary me

[my retirement fund] 14/7/2015 09:19

It looked good at first. Tom Chandos from RECI on the board. Had allready been recapitalised. Had a decent NAV. All I can think is that when the portfolio was originally aquired all those years ago there was some kind of dodgy goings on and they overpaid and the company ended up with assets by at least 25% overvalued and perhaps more.

[tiltonboy] 14/7/2015 08:36

Sorry you guys fell for this one.

[my retirement fund] 13/7/2015 09:53

ouch, thankfully its just a few percent down the drain for me

[skyship] 13/7/2015 09:34

Gary - yes MMs don't want to play until some clarity.

I see that my figures were based upon last year's position. A 15% fall now would render the prefs pretty well worthless allowing for fees twixt now and then.

I still feel we'll see some return here; but perhaps lucky to get 25p.

[gary1966] 13/7/2015 09:29

Yep, feel as though we are being stitched up like a kipper and sadly my exposure was nearer 6% and to make matters worse I bed & ISA'd most of my holding this year. Will just have to grin and bear it as the prefs look as though they are pretty untradeable now.

[blackpoolsteve] 13/7/2015 09:29

Chinahere. Correct,this bodes badly for ALPH,who are being screwed by Barclays

[chinahere] 13/7/2015 09:06

Yes there is a gap but are the lenders going to force a big reduction to NAV sale?

[skyship] 13/7/2015 08:55

Thankfully only a 1% allocation; but obviously concerned.

A bit bizarre for Internos to paint such a bleak picture for the pref holders. It would take a 25% asset fall to produce c30p for the pref holders...

[skinny] 13/7/2015 08:54

As a holder of the ordinaries and the prefs, all I can say is what a bloody shambles!

[chinahere] 13/7/2015 08:44

"There can be no certainty, however, that any transaction will take place, or that, if one does, there will be any value available for either ordinary or preference shareholders."

Recent RNS doesn't look good.

[my retirement fund] 24/6/2015 12:47

Well my average here is 60p !

[woodenman] 23/6/2015 20:33

Don't get too carried away though - it's only a touch over 1% of the €235m remaining. Better than nothing, but it doesn't bring wind-up that much closer. That being said, I'd imagine losing a country will help with ongoing costs.

[skinny] 23/6/2015 16:21

I'm similar - tempted but my last purchase was 44.30p - so reluctant to add.

[spittingbarrel] 23/6/2015 15:50

25000 offered at 56.5p but I last paid 47 and don't fancy paying up.

[my retirement fund] 23/6/2015 12:29

Very iliquid. Can you get any reasonable quantity though?