Ignore those who didnt spot this at 40p a few weeks ago and ignore those where you cant tell whether they are in or out on a daily basis.
This is one of the best pound for pound recovery plays around |
The proof is in the pudding. |
I feel sorry for u disagreeing with the director who has just bought £3 mill plus |
I can't help feeling sorry for you Q and gripfit. You are fools and, as such, will easily be parted from your money. |
18m-2 years before refinancing required, interest rates may have reduced by then, that is the market direction of travel IMO/DYOR.
Over next 2 years could it have made c.£200m EBITDA? Why not?
In which case, the refi should be doable, but they may insist on an equity raise at same time, but if they were not pulling plug on 6+ X leverage, why would they at say 3X and shrinking?
DYOR, but I think this has further to run on a flip into equity value play, but subject as always to underlying markets not tanking!
DYOR |
Staff a basket case agreed … |
You are into this and also STAF I see Good luck my friendYou will need it. |
There’s another £28k on its way from me tomoro … |
I have not seen this ramped all the way to £1:50 … |
Overleveraged basket case. Lots of red flags in the background.Being continually ramped.This only ends one way |
And the CEO?
And the MD?
And why are they here ? Because they missed 40p to 76p in december and want in |
Tiger - What do you think Morgan Stanley see ? |
Tiger
You say that the debt is not cheap but I think you are wrong.. the debt is Euro500m at 3.625% repayable in Aug 2026 and Euro 250m at 3.75% repayable by March 2028 which is inexpensive at current interest rates. I agree that the Prefs £325m are more expensive at just less than 9%
LONGTERM
Sorry what i meant was debt on 900m is not cheap.3.5% costs 33 million a year.
I was in Victoria many many years before the arrival of Geoff.
I go back to them buying LOOMS from navan in Ireland.
Just getting a bit of a smell here and i see nothing to stop the decline
Just my view and i dont short
tiger |
Looks like some chart support c.60p |
Beware of those pitching up having missed the 2 week rise from 40p calling Armageddon
They are jealous |
Agreed, plus MCG refinanced 500m at 4.875% in September 2024 when interest rates were higher. There's been institutional churn with Morgan Stanley and Philosophy joining the register and Spruce and Vulcan leaving it.Spruce have been indiscreetly selling down throughout 2024 which for me explains most of the weakness.40p was the floor at 44m valuation. Management are well connected in the PE world, so a takeover more likely |
Tiger
You say that the debt is not cheap but I think you are wrong.. the debt is Euro500m at 3.625% repayable in Aug 2026 and Euro 250m at 3.75% repayable by March 2028 which is inexpensive at current interest rates. I agree that the Prefs £325m are more expensive at just less than 9% |
Zak and John reckon £1++ |
the shares have zero value in my opinion. Trade them at your risk.
Day trade may pay off but that debt is not cheap.
tiger |
With over £800 million of debt and negative cashflow some of you guys are bonkers. |
Had to wait until March 2024 for a trading update, so next week IMO we may see more buying "positioning" for recovery rather than ahead of any possible new news....DYOR....if housebuilding delivery does show recovery & mortgage approvals the same early NY data, this could fly. Danger is Labour taking us down a recessionary path, if that gathers momentum.....let's hope not....next stop a quid.....DYOR |
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