Wasps 22 Discussion Threads

[bondholder] 08/2/2022 17:33

13 May redemption. Getting a bit squeaky close with no announcement.

[dandigirl] 22/1/2022 11:36

Hi - Who is suggesting settling for less than 100%?

[jonnyhatesrap] 21/1/2022 18:17

Hi why would anyone settle for less than 100p in the pound? The bonds are secured on Ricoh arena at around 50-60% LTV and failure to repay on maturity results in additional default interest kicking in until repaid in full. Nobody should suffer a loss as long as everyone is unified in wanting all of their money back.

[jonnyhatesrap] 21/1/2022 17:52

Hi why would anyone accept less than redemption at 100p? The bonds are secured over Ricoh arena at around 50% LTV and if there is a default on maturity, an additional default interest rate kicks in until repaid in full.

[ozzie_dog] 19/1/2022 08:30

Sorry, I inadvertently misled you, it was almost 170k (169k), but that is what I get back if it redeems at 100p (would be nice, bit something around 85p to 90p would be good too) because I bought at under 100p, I actually invested much less (113k). My trades in order, starting with the first were:

30k at 95.2p
30k at 78.7p
8k at 72.3p
5k at 53.9p
20k at 51.0p
10k at 39.9p
10k at 40.3p

I don't want to invest more in Wasps, I've got enough invested already at a decent weighted average price. I will probably retire in 2-3 years, so from now on I intend to not take on so much risk.

[dandigirl] 18/1/2022 18:23

Interesting.
Wow, £180k!
Thought we had a lot at nearly 6 figures.
Care to share the prices of your latest purchases?
Is there anything left worth considering further purchases?
Thanks.

[ozzie_dog] 18/1/2022 17:25

Hi dandigirl, they don't show all the trades, I have about invested about £180k over about 5/6 different trades and non of them was shown.

[dandigirl] 18/1/2022 15:53

LSE shows one purchase of 500 @ 90.75

[ozzie_dog] 18/1/2022 15:34

The bond price has crept upwards again today

[fastcat99] 13/1/2022 16:32

vibes are ok (indeed, like all the fanstasmagorical speculation one tends to read on bulletin boards, haha); intimation of privileged news is steering close to the wind

[ozzie_dog] 13/1/2022 15:44

I didn't actually mean insider trading, but perhaps people reacting on positive vibes, as opposed to the reverse happening due to negative vibes.

[fastcat99] 13/1/2022 12:44

You mean you think someone is insider trading ?

[ozzie_dog] 13/1/2022 12:32

The bond has increased 2.1% today (currently), hopefully that is a sign that the refinancing of the bond is being attended to.

[aringadingding] 10/1/2022 12:08

With that phenomenal performance yesterday (with just 1 key player back from the injuries list you could say), with the latest viral strain seemingly the fading embers of a pandemic, a ground share agreement with mid-table Championship CCFC, brand new training facilities and a very strong yield to maturity showing on the bonds, I am a happy holder at the moment.

I would guess that about now the commercial arrangements for the refinancing are being finalised. Following this would be legal drafting. A market announcement could either be made at the point of agreement of key terms (or signing a short form terms sheet), or at the point of signing of legally binding full documents. The latter announcement I expect could be at maturity minus 2-6 weeks, and the former maybe maturity minus 4-12 weeks. This is just a guess and relies on the assumption that processes and timeframes are well managed (they have had long enough to think about it for sure).

Hypothetically if the refinancing is successful we could just get given our money back at maturity with no market communication at all, but given the potential for information to leak, and the current major discount to par, I would expect that best practise would prescribe communicating key information when available in this situation. Could be a case of "why not" put out an announcement (and mention said announcement in the headline terms agreement if that is the route taken).

Any other views would be interesting to hear.

[jumpman1] 02/12/2021 12:44

Attendance is really down. under 5050 the other night as the official attendance. Yet the football club got over 22000 and played on sky sports.

[fastcat99] 17/11/2021 09:10

Cleared funds in HL now, and pending in Interactive Investor

[jgh03] 16/11/2021 16:49

I've also received my dividend in AJ Bell account today but not yet in Hargreaves Lansdown account.

[dandigirl] 16/11/2021 16:20

Surprise, surprise. A J Bell have posted.

[dandigirl] 06/11/2021 20:08

Thank you.

The important bits are those dealing with Going Concern - page 28 in Group and page 16 in Finance.

Pretty much as we would expect - high dependence on Mr Richardson who has indicated continuing support.

Property assets written up.

Actually, I think that in the circumstances these results are amazing. Losses down rather than up. Moreover the future looks bright provided COVID stays away.

Anticipated refinancing expected to be completed prior to the scheduled redemption of the bonds in 2022.

Interest due next week.

[a0002577] 05/11/2021 18:58

Reports to June 2021 are available here
https://www.wasps.co.uk/media/8656/whl-group-ye-30-06-2021-final.pdf

and here :
https://www.wasps.co.uk/media/8655/wasps-finance-plc-30-06-21-final.pdf

The second report contains very useful information from the auditor and is well worth reading TWICE

[jumpman1] 17/10/2021 19:23

Looks like wasps have been giving out lots of free tickets again to matches. Attendance is looking low judging by images on twitter.

Not good signs. As the weather gets worse and if wasps keep losing the attendance number will sink lower

[aringadingding] 17/10/2021 12:55

More good news:

- Everyone seems to love the new Wasps rugby training facility.

- Coventry city are 4th in the Championship. That's out of 24 teams total. The top 2 get promoted to the Premier League automatically, and from the teams finishing 3-6 inclusive there is a playoff and the winner also gets promoted.

[dandigirl] 13/10/2021 08:50

graham & aringy: Thanks for your posts. It is great to have this sort of info.

As I have posted before, these have come too far to fail now IMV. We topped up yesterday.

Thanks again.

[grahamg8] 13/10/2021 07:36

Convention Centre construction started June 21 to finish H1 22, followed by South Pavilion Entrance.
On the revenue side the Grosvenor Casino is now open, so any rent forbearance should have ended. Venue for Rugby League World Cup in October/November and Commonwealth Games July/Aug 22 judo, wrestling and rugby 7s.
Every little bit helps.