MyTravel @0.12p
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MyTravel @0.12p
What is going on? This share price appears to value the company at about £75m - apologies if my maths are wrong.
Rumour has it that the bookings are coming in, but the city seems uncomfortable?
Rumour has it that the bookings are coming in, but the city seems uncomfortable?
Last edited by TightSlot; 3rd Mar 2003 at 17:54.
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MT.
As we are all in a favourable posn here.... as far as share tips go surely the company is as cheap as it will ever be??
Why don't we all buy some shares and watch the price rocket?
Or am I missing something?
Why don't we all buy some shares and watch the price rocket?
Or am I missing something?
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Main reason for the drop is the fact that they need to re-finance some £500m of borrowings within the next 12 months. This includes a £220m convertible bond maturing in January 2004; a £250m revolving credit facility that matures this December; £210m of preference shares, and £100m of private placement loan notes.
They want to do this by removing the restriction, from their articles of association, that prevent them from borrowing more than three times their adjusted capital and reserves.
It is reported that they will seek to change this at their annual meeting on March 20. On Sunday they insisted they had not breached that limit. Must have some good reserves then!
Under a review being carried out by their management and their adviser Deutsche Bank, they are considering bringing some of their £612m contingent liabilities on to the balance sheet. This consists largely of regulatory bonds and leases for aircraft, cruise ships and spares.
That is why the market got twitchy yesterday!
They want to do this by removing the restriction, from their articles of association, that prevent them from borrowing more than three times their adjusted capital and reserves.
It is reported that they will seek to change this at their annual meeting on March 20. On Sunday they insisted they had not breached that limit. Must have some good reserves then!
Under a review being carried out by their management and their adviser Deutsche Bank, they are considering bringing some of their £612m contingent liabilities on to the balance sheet. This consists largely of regulatory bonds and leases for aircraft, cruise ships and spares.
That is why the market got twitchy yesterday!
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It was in the 0.10's for a short time this morning - now back up to o.1148 - is there a point (above zero) which it could sink to that means it implodes (or gets bought)?
I don't wish to appear ghoulish about this, and am aware that good people's jobs are at stake - there is a certain appalled fascination about it, like watching a large ship sink. Please accept apologies if these questions are causing offence in any way. The question above is meant seriously.
I don't wish to appear ghoulish about this, and am aware that good people's jobs are at stake - there is a certain appalled fascination about it, like watching a large ship sink. Please accept apologies if these questions are causing offence in any way. The question above is meant seriously.
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To still be operating, surley they must have enough cash reserves to see them through, otherwise the banks would pull the plug.
Have they had any luck in offloading any assets?
Would like to see a fairytale ending but not much information coming from Mytravel at the mo.
good luck all anyway,
Have they had any luck in offloading any assets?
Would like to see a fairytale ending but not much information coming from Mytravel at the mo.
good luck all anyway,
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froggy, I bought a small quantity of Marconi when they were 9p, having previously lost 99% of the value of other stock I had with them.
I thought they couldnt go any lower. How wrong was I - have been at 2p and lower for months now....
I thought they couldnt go any lower. How wrong was I - have been at 2p and lower for months now....
