London Town Share Discussion Threads

[madcat] 21/7/2009 14:55

People who bought at 3.30 are chucking at 3.50.Time to run for the hills!!!

[sportbilly1976] 21/7/2009 14:42

feel for the person who bought 25k at 10p literally minutes before the drop!!

[sportbilly1976] 21/7/2009 14:27

my guess is that SInger has taken a load of stock on...they are quoting in 25k, compared to Arbutnot and Winterflood who are just quoting in 1k.

[sportbilly1976] 21/7/2009 14:16

the issue still remains though as to the cause of the 70% drop this am on no news - a large sell being taken is my guess.

[tiredoldbroker] 21/7/2009 14:11

There's no asset base - "The Group balance sheet at 28 December 2008 showed net liabilities of GBP10.6 million as a result of the accumulated losses to date in excess of total equity."

You might hope that with the large balance sheet - £109.1m total assets, £119.7m total liabilities - a revival in the value of pubs or an improvement in trading could result in the equity having huge gearing, but I think it's the wrong time and the wrong asset class.

[loverat] 21/7/2009 12:29

andrbea

Possibly - or a good trade. I know you posted on SAM and similar share price movement there back last November due to a distressed seller.

Odd fall today and not sure I would put much into this unless things become clearer.

[mister md] 21/7/2009 12:23

As explained in Note 1 and Note 18 to the financial statements, the covenants on
the Group's bank loans were breached during 2008 and this has continued into
2009. The Group's bank loans have been classified as current despite their
scheduled repayment date being 2011 because the breach of loan covenants enables
the bank to seek immediate repayment of the bank loan.


The Directors are engaged in continuing discussions relating to the terms and
covenants of the Group's bank loans and anticipate that new covenants can be
agreed that will reflect the current operations and business structure of the
Group. The Directors expect satisfactory terms will be agreed and that
sufficient loan facilities will continue to be available to the Group and have
therefore prepared the financial statements on a going concern basis

[robizm] 21/7/2009 12:21

They do not have any net assetts

[andrbea] 21/7/2009 12:18

down 74%, and no comment from the company (yet)

downside: could dissapear altogether I suppose, like regent inns (reg) did this year

on the plus side they have a lot of pubs (is it 176?) so the asset base is strong. The high debt explains the fall probably.

Very high ratio today of buys to sells.

Was 80-90p in March
Anyone see a recovery play here?

[topinfo] 21/7/2009 12:08

I keep thinking about taking a punt on this but the mkt dont strip 75% of a share price on no news. My guess here is administrators being called in and that why managers/directors on holiday as they cant afford to pay them anymore. I mean which co sends all its staff away at the same time and leaves the bimbo secretary to carry the can when the share price tanks 75%?

[themoneymonster2] 21/7/2009 12:06

Well if there was anything wrong the market would have been notified by now!

[loverat] 21/7/2009 12:03

How strange. Perhaps they are on one of those team building holidays.

Fancy leaving the receptionist in charge though.

[topinfo] 21/7/2009 12:00

Very strange. I have just rung their office and the receptionist said there were no managers/directors in today and they were on holiday until next week and when I put it to her that the share price had fallen 75% she said "oh I dont know, I dont deal with things like that, but if you ring back next week you can talk to someone." Sounds very dodgy indeed.!!!!

[loverat] 21/7/2009 11:45

Dunno - buyers piling in though. Interesting to see if there will be a bounce here.

[topinfo] 21/7/2009 11:44

WTF is going on here then.

[loverat] 21/7/2009 11:34

Very big fall here. A distressed seller perhaps - seen something very similar on another stock recently.

[themoneymonster2] 21/7/2009 10:42

You could probably double your money here today at this price, only risk what you can afford to lose though!

[double6] 21/7/2009 10:13

How far are they going to take it down ??

[double6] 21/7/2009 10:04

About to pull the plug ??

[iamashardasnails] 19/10/2007 20:09

I cannot think of one reason why I would buy shares in this company - NOT ONE

what a complete dog

DISCUSS

[aderemi] 16/3/2007 16:42

Why is the company public?

2% free float,

[kevinlinus38] 22/12/2006 12:07

5 for 1 probably