Totally Share Discussion Threads

[1gw] 22/9/2023 09:37

It's not going to be a simple thing to get a placing away. They can't (currently) issue shares for cash at below 10p (nominal value), as I understand it, and the AGM resolutions to issue shares for cash (without pre-emption rights) were withdrawn.

I think that means they have to go back to shareholders, at least for a resolution to reduce the nominal value of shares (if they can find a way to do that) before they can issue shares for cash, even on a rights issue basis, assuming there wouldn't be many takers for a rights issue at 10p.

They also have the issue of indicators of impairment if their market value remains so far below net asset value (or shareholder funds) at the end of next week (1H end). This could mean a material goodwill impairment, potentially preventing them from paying the dividend if the impairment would wipe out distributable reserves.

So they could really do with a shock-and-awe announcement before the end of next week that gives the share price a material boost. A huge contract win might do it, but failing that perhaps a decision to put some of the business up for sale, or news that they had received expressions of interest in some or all the business? Or perhaps even a pre-close trading update showing that they expect to have seen positive cashflow in 1H would provide a boost to sentiment?

[beckers2008] 22/9/2023 09:27

f,

I agree they need to raise funds to pay the Dividend, they are being booted off contracts and their WIP is in trouble.

Sentiment is so bad here, I can't see them getting the placing away for more than 3p.

They should do the right thing and cancel the Dividend.

[deltrotter] 22/9/2023 09:09

At what price will they get a placing away at? 4p if they are lucky?

[football] 22/9/2023 09:03

Why don't they just do the placing so they can pay for the divi and move on from hereOr unless they can't find anyone to unwrite it at any price

[mikeh30] 22/9/2023 07:37

STD keeps banging on about how the NHS needs the continuing services of TLY because of the disastrous wait times. It's more likely the NHS has disastrous wait times despite/because of using TLY. More cancellations coming.5p placing coming

[beckers2008] 22/9/2023 00:06

1gw, makes a couple of good points after TLY gets booted off yet another job!
Their WIP is getting worse by the day, surely any credible BOD would cancel the dividend they clearly can not pay without pushing their company over the cliff...

"I think a couple of possible immediate issues with today's HSJ article are (1) it talks about "ending firm's contract" rather than the contract naturally expiring and (2) it is filed under "quality and performance".

So will Totally think they again need to challenge the premise of the article? Reputation is important and I think they really won't want to lose (or not have renewed) any more big urgent care contracts given the state of the balance sheet"

Down to 7p on the bid, this latest news will be doing the civil service rounds and KPI's will be poured over, expect other contracts to be terminated under "Quality and Performance"
Doesn't look good.

[ny boy] 21/9/2023 21:33

Not a stock to be in, with equities rolling over, challenging quarter ahead.

[fenners66] 21/9/2023 19:18

So sad its funny - another 5.2% drop but in double quick time at the end of the trading day - and the troll continues to stand Canute like denying their feet are getting wet.

[1gw] 21/9/2023 18:57

I think a couple of possible immediate issues with today's HSJ article are (1) it talks about "ending firm's contract" rather than the contract naturally expiring and (2) it is filed under "quality and performance".

So will Totally think they again need to challenge the premise of the article? Reputation is important and I think they really won't want to lose (or not have renewed) any more big urgent care contracts given the state of the balance sheet.

[sikhthetech] 21/9/2023 18:48

Dr Biotech

The contract they won in December started from 1st April, so after NW London. Was that terminated before it started? NO.

And they won another £10m Urgent Care contract in January, to start 1st March
Was that terminated before it started? NO.

My reply hasn't changed since you previously mentioned the same.


sikhthetech - 29 Jan 2023 - 14:21:27 - 19492 of 20396 Totally Health - 2014 onwards - TLY
Dr Biotech

"But it hurts to lose what amounts to 20% of turnover in one hit, with possible reputational damage."

Where do you get 20% of turnover or is it just made up hoping posters don't check?? Turnover as of fy2022 was £127m.

They won a £66m contract recently so using the logic you are trying to portray as the truth, the £66m contract represents more than 50% of the revenue!!! doesn't it??




But the NW London contact is still less than the c£10m pa they won earlier this month, isn't it?

[dr biotech] 21/9/2023 18:37

They won it in December, before they had their other contracts terminated early.

[sikhthetech] 21/9/2023 18:30

1gw,

As you are aware, the trust have to provide a continuation of service, it's normal.

A trust did the same with Devon Doctors several years ago. TLY lost the Devon contract but later the trust came back to TLY asking for their help. It's all part of normal business.

The NW London contract was unfavourable for TLY.

TLY were still awarded a £66m contract in SE London last December.




sikhthetech - 31 Jan 2023 - 13:22:18 - 19517 of 20392 Totally Health - 2014 onwards - TLY
They did say in their previous investor presentation that they are prepared to give up unfavourable contracts.

TLY lost the devon contract a few years ago but the NHS came back to TLY last year requesting help. That proves, like all companies they win and lose contracts. There's no impact across.


They won a £66m contract in SE London only last month. If there were reputational problems in NW London then they wouldn't have won the SE London one.

[jugears] 21/9/2023 18:12

Oh look down again!

[1gw] 21/9/2023 17:50

Looks like a HSJ follow-up article on NW London.

"ICB hands urgent treatment centres to trusts after ending firm’s contract"

[jugears] 21/9/2023 10:02

Now Now don't upset sickly he doesn't like it!

[deltrotter] 21/9/2023 09:29

Just popping in.

Strewth!! And still it is being ramped!!!!!

[quazie12] 21/9/2023 09:02

Well Sikh where is your own analysis exactly. You assert TLY is not a one customer company, but you actually know it pretty much is give or take, yet you post this guff link. Utter drivel. There will shortly be some real facts for you to address here.

[jugears] 20/9/2023 16:51

Pile of old poop, 5p by Christmas

[beckers2008] 20/9/2023 15:39

Sikhthetech,

Offer dropped to 7.8p, nobody wants this pos, lol!

Don't say I didn't warn you again...
The impairments will raise their ugly head...
Cancel the unaffordable dividend payment...
Profit warning coming.

I told you to sell at 40p, you no listen, lol, just lol!

[beckers2008] 20/9/2023 15:31

Pural now Sikhthetech,

You not bashing the HB's too much today, you have lost the argument, lol!

You down 80% on this pos, lol, just lol!

Paper thin margin, soon to be loss making after latest profit warning.
Governments as it's only customer is very risky.
The impairments are a muddle and unclear, so too goodwill.
WIP is dire, cash raise needed to shore up.
Poor BOD out for their own.
Possibly going bust within two years.

It that enough for you, lol, just lol!

[sikhthetech] 20/9/2023 13:23

FACTS:

TLY have a diversified business model, covering Urgent Care, Elective Care and Corporate wellbeing in all 4 UK nations plus Republic of Ireland.

Republic of Ireland is not run by UK govn.
Corporate businesses are not run by the UK govn.
HMP is not part of NHS.


Beckers is lying, the govn is not their only customer.