ripley94
24 Sep 2019
Thomas Cook shares worthless by Lee Wild from interactive investor | 23rd September 2019 16:10 After months of torment and failure to agree a rescue deal, loyal shareholders have been wiped out. Thomas Cook (LSE:TCG) has gone bust. It's the story splashed all over the front pages. The biggest peacetime repatriation of civilians is now underway, but while disappointed holidaymakers will get their money back, battered shareholders will likely be left with nothing. Sixteen months ago, an investor would have had to pay 150p for every Thomas Cook share. Last Friday, they went as low at 2p, closing the session at 3.45p for a decline of 98.7%. The shares are now suspended from trading. Source: TradingView Past performance is not a guide to future performance The slump at the end of last week was triggered by a company statement issued in response to media speculation that Cook was struggling to complete a refinancing. The company would only say that talks with banks and its biggest shareholders, including China's Fosun Tourism, were ongoing. But after Fosun and the banks had already agreed to pump £900 million into Cook, lenders were unwilling to approve a seasonal standby facility of £200 million to keep the business going through the lean winter months. It smacks of an unwillingness by lenders to throw good money after bad. Even the government thought so, deciding against bailing out our best-known and oldest travel operator given the very real possibility of it coming back for more cash further down the line. After the business entered into compulsory liquidation, the Gov.UK website said: "Unfortunately, as a result of the liquidation appointments, there is no prospect of a return to Thomas Cook's shareholders." Cook has form when it comes to its finances. Former CEO Harriet Green's major restructuring saved the business before she left in 2014 with the company worth around £2 billion. Cook shareholders had already been warned that the recapitalisation would significantly dilute their equity stake in the company "with significant risk of no recovery". The writing was on the wall, the outcome almost inevitable. The rise of online-only operators, terrorism in popular holiday spots and a weak pound have already persuaded Brits to stay at home or find alternative destinations. Uncertainty around Brexit has clearly played its part. But Cook's massive debt pile has made this situation impossible to resolve. Cook's departure is also an opportunity for rivals in a fiercely competitive industry. Big winners today are TUI (LSE:TUI), whose shares are up 6%, On The Beach Group (LSE:OTB) which is up over 8%, and Jet2holidays-owner Dart Group (LSE
TG), up 5%
ripley94
23 Sep 2019
So these original bought in ( B ) 29/ 09//2010 nine years ago @ 172p. looks like a rights 13/06/2013 @ 76p then the gamble in may this year ( D ) @ 22p . The switch in 21st June from ( B ) Free trade.
ripley94
23 Sep 2019
On Friday 20th last day possible trade shares fell to 3.5p... ( (D) 3372 worth approx £118.02 ..On 3 Sept still get 6p been at that price long wile .. in June ,July 14p and went back to 14p on a short spike 5th August .
ripley94
23 Sep 2019
Went bust today could not see chat on ii for long time. Better if i had not got them back in June. All the signs / warnings were there of previous administrations ( but confusing radio comments saying next week ect ) happened exactly like i told Scot guy in cafe.
ripley94
22 Jun 2019
Sold all in ( B )14.2p got same back in ( D ) 14p.... Opportunity to switch for free .
ripley94
19 May 2019
Not available on ii ... a sign lol ..Oddly enough i topped up 2nd May 2109 @ 22.5p one year from oldjoe post below .. mistake as massive fall from 14th May 2019 all the way down to 11p .. some bank said shares worthless !! that's not good from past experiences of company's going bust.
oldjoe1
02 May 2018
Re: TCG, TAKE OVER??????????????????????... TCG Thomas Cook............TCG interims May 17th.
oldjoe1
02 May 2018
Re: TCG, TAKE OVER????????????????????????? LATEST BROKER VIEWSDate Broker New target Recomm.2 May Credit Suisse 160.00 Outperform
oldjoe1
02 May 2018
TCG, TAKE OVER????????????????????????? TCG..........FOUND IT.These guys have a stake in TCG.China's Fosun eyes global tourism deals, shrugs off crackdown02-05-2018 08:46Shu Zhang and Adam JourdanSANYA, China/SHANGHAI, May 2 (Reuters) – Fosun International Ltd's tourism arm is hunting for more overseas deals to grow its leisure vacation business, the unit's chief told Reuters, adding that a recent crackdown on conglomerates' was actually helping the firm.Fosun, one of the country's most acquisitive overseas dealmakers, threw open on Saturday its $1.74 billion Atlantis Sanya resort, looking to lure domestic and foreign tourists to the Chinese island of Hainan, the country's Hawaii. ...Qian Jiannong, chairman and president of Fosun's Tourism & Cultural Group, said that a recent squeeze on overseas deals – that has stymied conglomerates including Dalian Wanda Group and HNA Group – had actually played in Fosun's favour."If some companies are told to rectify due to irregularities, that gives more strength to the others such as Fosun," Qian told Reuters at the Sanya resort on Sunday. He did not name the companies.The government crackdown on debt has had a stark impact in China. HNA has been on a selling spree this year to raise funds, while Wanda offloaded billions of dollars of tourism and entertainment assets last year to reduce its debt load."Rational investment means companies need to follow market rules and China's industry policy," added Qian. "If everyone fights for one meaningless, expensive, and low-return investment target, and brings financing risks, that would be irrational." Fosun, co-founded by China's self-styled Warren Buffett Guo Guangchang, has escaped Beijing's battle on debt relatively unscathed. The tourism unit is now looking for investment targets in Asia, Europe and the Americas, Qian said.The unit, an important profit growth driver for Fosun, controls French resort operator Club Med, and has a stake in British travel firm Thomas Cook Group .Qian added he wanted to make the Sanya resort a one-stop-shop for the country's deep-pocketed middle class tourists looking for a getaway as the world's second-largest economy shifts to a consumption-driven economy.Fosun spun off the tourism unit in 2016, paving the way for a potential initial public offering, which Thomson Reuters publication IFR reported could raise at least $500 million. ...After the spin off, a restructuring of the newly created tourism group has continued. The unit may also take on other related assets to gain assets along the whole industry chain of the vacation market, he added.Qian added any listing plans would depend on capital market conditions and the restructuring.Fosun's annual profit jumped 28.2 percent to a record high in 2017, its fastest growth in four years, on the back of stronger growth from its core operations and successes in exiting and listing several investments. ...On the company's outlook, Qian said he felt there was little competition facing the firm. "If you are at the forefront of an industry, you have few competitors. I think we have no competitor, except us," he said.(Reporting Shu Zhang in SANYA and Adam Jourdan in SHANGHAI; Editing by Muralikumar Anantharaman) (([email protected]; +86 10 6627 1271; Reuters Messaging: [email protected])© Thomson Reuters Limited. Click for restrictions
Nice to Michu
26 Mar 2018
Re: doesn't happen often Should I read that last post as you get it wrong regularly but admit to getting it wrong rarely Hugh 
..................more seriously, fair play for admitting to getting it wrong .Ps: I no longer hold a position her btw and so wont be posting here going forward ... generally I've gone more high risk stock picking in my bets now.. this has been kind to me though and I'm thankful for that... and I and I wouldn't be surprised if, in due course, it goes higher still.. but there's better risk reward for me to bet on out there right now, I feel..
Hugh Betcher
13 Feb 2018
doesn't happen often But happy to admit I got this one wrong. I was right about it performing poorly for quite some time but of late its been storming.
Einstein the Second
16 Jan 2018
Re: I'm out for now Probably need a stronger pound versus Euro to drive them higher, given that more people are going to relatively safe resorts in the Eurozone.
the last night trader
16 Jan 2018
I'm out for now As a long term holder of TCG buying in at an average of 35p some years ago and being on the roll a coaster up to 180 and back down to 80p (numbers close) i decided today that it was time to bag some profits - they may keep rising to 150p and beyond with some good news, however they could drift back to 110p My own decision has been, probably badly, influenced by not seeing one TC advert on the tv while the competition seem to be brand building and going for it.....Obviously with people looking at Turkey again, and the closure of coop stores they bought, profit growth fuelled by these two things could get the shares going as could a take over approach........ equally some bad news could send them sk
II Editor
30 Dec 2017
NEW ARTICLE: Seven secrets of modern scuttlebutt "Last week, I suggested the better we understand what firms are actually doing, the better we'll get at selecting good investments. I ended, though, with a quandary. Few companies lay out their strategies for everyone to see. A method of gathering ..."[link]
Nice to Michu
24 Nov 2017
Re: why does the market not like the res... seems the market has changed its mind and agrees with you Montu and seems you were correct to question the original reaction apostrophe ( and happy I did a small top up on that weakness too )
