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Massive fall in share price over the last three days; almost 25% down from 110 last week to 86p this morning. Rumour driven as far as I can see, but Davies is going to pretty stupid on Friday asking shareholders, who are watching the value of the business plummet under his management, to vote for his big bonus deal. They might as well tell him to resign. Maybe he's about to get the Kier Living deal signed off today or tomorrow and will be able to go into the AGM head held high.
Assets were sold fast; the Australian Kier roads business sold; land and properties sold all over the UK, including £25m for one office block in central London. Kier Living sale is imminent with Lone Star named as a contender. Motleyfool bloggers in my experience are just amateurs and paid advocates a lot of the time. Probably in league with hedge funds shorting kier (most of whom are exiting their shorts).
If the share price is any indication, it looks as though some kind of disaster has overtaken Kier. Almost 20% down in 3 days. AGM is on Friday; we will hear then whether it's just rumour or facts that are hitting the share price. However, a public company with Kier's recent record on share collapse should really be responding a bit more promptly with an RNS today or in the morning, especially if Davies wants to avoid walking into a room of very hostile institutional shareholders and then expecting them to vote through the board's pay deal.
Kier's net group debt is only around £170m and monthly average debt is about half of what is available to Kier. There will NOT be a debt for equity swap because the business is not short of cash and has good revenue. Kier's recent forecast is for flat revenue in 2020, approx the same as last year. The story which is being hyped by a telegraph journalist relates to HSBC, which has reported bad results in Europe and might be trying to manage its loan book down. Kier does not have 'aggressive' lenders. The company is a reliable loan customer and meets all debt obligations. Trying to spin rumours into some sort of adverse comment on Kier seems to be your hobby. Stick to facts.
SOME SORT OF CONSOLATION ON ACC ... THOUGHT IT WENT BUST . ( D.. CLUELESS FINDING OUT ! )
0.14 HKD TODAY........ 50% LOWER THEN LAST LOOK .
This TOPPED OFF @ 2929 ZAR ON 31ST OCTOBER 2019.. BEFORE FALLING BACK A BIT .
I'm wondering if we're about to see a bid for the whole of Kier. The residential business is for sale at around £150-160m; take that off the market cap and the rest of the business is currently valued at £20m. This makes Kier the biggest bargain on the stockmarket. Kier's entire group debt at around £170m is barely more than one year's earnings. Turnover without the residential business is over £4 billion. The company is the UK's largest regional construction firm and is currently is ranked number one in Construction Enquirer's league table for the amount of construction work won in the last 12 months. I would not be surprised to see Balfour or Mace bid for Kier while its share price is so low, even if it were only to get Kier to open its books and get a good look inside the business. A foreign buyer could snap Kier up easily and have instant massive momentum in the undervalued UK market.
Edz, calm down. I'm the secretary not the original. Someone left the front gates open at ADVFN and I've been sent out to find you.
Dear trout what arogent idiot you must be when someone asks a perfectly honest question and you can't answer it without being rude.if you have been in this game for so many years I would of thought a responsible answer would have been given. God forbid anyone else who asks a question.Have a good life Good Luck