devonplay
14 Sep 2019
Ovo Loan Note Here’s an example of a PIK toggle loan, from EnQuest. The toggle here is based on the average price of Brent crude: enquest.com hybondsqaapril2017.pdf 111.36 KB Sometimes they pay cash interest, sometimes they issue more notes to satisfy the interest payment. DL
devonplay
14 Sep 2019
Ovo Loan Note I haven’t read it, but you sure it’s not a PIK toggle? en.wikipedia.org PIK loan A PIK, or payment in kind, is a type of high-risk loan or bond that allows borrowers to pay interest with additional debt, rather than cash. That makes it an expensive, high-risk financing instrument since the size of the debt may increase quickly, leaving lenders with big losses if the borrower is unable to pay back the loan. There are three types of PIKs, which are characterized by differences in interest repayment. True PIKs, also known as "mandatory" PIKs, establish the interest payment str... Could it be when they aren’t paying cash they could be paying in more notes (loan notes). Maybe there’s a toggle in there and when they can’t meet it they issue notes as a cash alternative, all to be paid out on maturity. DL
marktime1231
13 Sep 2019
Ovo Loan Note In the small print of the deal to sell SSE retail to Ovo it says there is a £400M in cash (less £59M in debt like items on SSE balance sheet) and a £100M loan note at 13.5% interest. Except it says the loan note is payable in kind over ten years. So not in cash. What does Ovo have that SSE might want, other than cash. Does this mean Ovo have agreed to buy energy from the remainder of SSE at a 13.5% premium. perhaps? Or does the Ovo loan note debt roll up and get converted into stock, or … V confused, you can’t pay in kind unless you are providing goods or service in lieu of cash, surely.
BubblingUp
11 Aug 2019
SSE loses 160,000 customers SSE STATEMENT ON DISCUSSIONS RELATING TO POSSIBLE SALE OF SSE ENERGY SERVICES ENERGY SUPPLY / 10/08/2019 As it said in its Preliminary Results Statement in May, and reiterated in its Q1 Trading Statement in July, SSE is actively progressing a number of options for the future of SSE Energy Services, having determined that its best future lies outside the SSE group. In line with this, and noting recent media speculation, SSE plc can confirm it is in discussions with Ovo Group over the possible sale of the SSE Energy Services business, which supplies energy and related services to around 5.7 million household customers across Great Britain. These discussions are continuing, however no final decisions have been taken and no agreements regarding the terms of any transaction have been entered into. The Board remains focused on securing the best long-term future for the business, its customers and employees, and for shareholders. SSE will provide no further comment on the discussions until a conclusion to them has been reached. In the meantime, it remains focused on the important work of delivering sector-leading service for its customers.
frog_in_a_tree
11 Aug 2019
SSE loses 160,000 customers News coming out that SSE is in talks with OVO to sell off its energy retail arm. BBC News SSE in talks with Ovo over sale of UK energy arm If a deal is reached, Ovo would become the UK's second largest energy firm. Frog in a tree
frog_in_a_tree
19 Jul 2019
Ex-div spike expected? KU, Falling customer numbers will be a drag on the sp I reckon. U.K. – 18 Jul 19 SSE customer numbers dip, sticks to full year forecast Power company SSE Plc on Thursday reported a 1.2% dip in customer accounts and s... Cheers, Frog in a tree
Kamikaze_Upstart
19 Jul 2019
Ex-div spike expected? As this stock has a very healthy div of about 6% and an ex-div date of 27/7 - are we expecting an upward spike in the next few days?
Eadwig
06 Jun 2019
Head and Shoulders Bottom zanshin: now there is a way to become rich. Indeed. I wonder how many of his friends know in advance … although I think most of them are genuinely off-the-cuff and ill thought out as to the consequences. Consequences often paid for with reduced pension pots for his own citizens, not to mention collateral damage to other investors around the world.
zanshin
06 Jun 2019
Head and Shoulders Bottom Charting is another “Marmite†topic, with some hating the thought that charts can predict future share movements, others using only charts on which to base their trading decisions. Some of us are in between, using charts as a guide to direction, resistance and support positions. Personally I can’t be bothered with anything more than the simple basics. Charts cannot predict the future, but certain events, within and without the charts, can give a good indication of direction. If only there was a way to intercept Trump tweets before they escape into the wider world; now there is a way to become rich.
Eadwig
06 Jun 2019
Head and Shoulders Bottom Eadwig: Supposedly, according to other sources, head and shoulder tops and bottoms are one of the most reliable of all charting patterns I might add that if charting patterns were in anyway ‘reliable’ then anyone who wrote such pattern recognition software would surely be presenting statistics on their previous projections and the percentage success rate, supported by historical examples. I can’t say I’ve ever seen such ads. Has anyone reading this? I suspect that if charts are of any use at all then it is because they are to some extent a self-fulfilling prophecy, especially where algorithm trading is concerned, much of which drives the markets these days. That being the case, I can’t dismiss them out of hand.
Eadwig
06 Jun 2019
Head and Shoulders Bottom I think there may be another G.E. before 31 October… However, I n either agree nor disagree with the chart view which doesn’t take account of such external ‘noise’. I simply am posting a series of Recongina ‘classic pattern’ predictions that give a date range and a target price. Its part of a long-standing review process I’ve had with this software tool (available via ii accounts) with the aim of categorising which type of patterns are most reliable - if any. Supposedly, according to other sources, head and shoulder tops and bottoms are one of the most reliable of all charting patterns. I’m not a chartist myself, but this one certainly has the volumes required on the recovery from the bottom of the head to suggest it may well work out, although in terms of profit to be made from such a relatively short term prediction this is a minor one which might even be covered by general volatility.
zanshin
06 Jun 2019
Head and Shoulders Bottom 2 factors come to mind re UU. The next PM very unlikely to call a GE as that would be political suicide, so the immediate Corbyn threat has receded. UU goes ex div on 20th June, 27.52p. Both these factors are positive short term. However, I note that historically UU SP does not build into the ex-div day, so a sudden retrace would not be unexpected. Short term resistance is at 847.
Eadwig
06 Jun 2019
Head and Shoulders Bottom image.png761x939 76.9 KB
PrefInvestor1
17 Feb 2019
Sse warning Hi @kool_keith, Thought of you when I happened to read the Q3 trading update the other day. The SSE share price has done pretty well since I left, almost 1200 after a dividend of 90 odd pence. Selling assets to fund the dividend by the sound of it and of course the npower merger is now a distant memory. Still seems like you did the right thing hanging in there. Made me think about a few other shares that I think you also hold AA which is also staging a slight recovery, back up to 9x p having slipped below 70 (ouch !) FCRE which is in the low 90s now down from about 100 when I bought (personally exited all REITS a while back) CGI which is recovering from being clobbered with the rest of the US markets at the end of last year. Anyway the year has started well and my portfolio is around 5% up ATM hope you are doing OK too, suspect so as market recovery is pretty wide ranging. I could have done better but I’m not complaining. I sold a shed load of stuff towards the end of last year before the worst of the market falls and that worked out pretty well for me as it meant I avoided much of the losses. I have restructured my portfolio now and eliminated all but 6 of my single stocks and everything else is now in ITs and dividend ETFs and prefs. Bought back into a few prefs as prices on some of my old favorites were low and yields very attractive, and despite fears over interest rates all my pref purchases have done well. Typically up about 5% and March-April dividend time is fast approaching. But nowhere near as committed to prefs as I was previously you’ll understand… Anyway I have no idea if you are even active on these boards anymore as many people seem to heave left. Hoping you are well and that this message gets to you OK. ATB Pref
In_the_dark_yet_again
08 Feb 2019
SSE loses 160,000 customers LSE:SSE I read it too. More detail in the RNS: [link] but, IMO, nothing unexpected. If the loss of 3% of their retail customers is the main headline then there’s little to worry about (apart from all the stuff we already know). I’ve read numbers (sorry, can’t find the source) that up to 25% of customers have switched out of the ‘big 6’ in the last 12 months as people wise up and Uswitch et all get better at making it ever more simple. If true 3% is getting off lightly! Regards, ITDYA thinking there’s no real new news here - which is a good thing given pretty much everything recently has been bad.
