STU - Steel & Tube Holdings

[Balance]

Certainly not a 'Nice one Stu.'
Turnarounds usually take longer, and cost more than anyone expected.

Rights issue inevitable imo.

Debt of over $100m and market cap of $140m - trading on an enterprise multiple of 15 times!

Banks will want the debt down to $60m as a minimum in the credit risk adverse environment we have entered.

[Balance]

Rights issue inevitable imo.

Debt of over $100m and market cap of $140m - trading on an enterprise multiple of 15 times!

Banks will want the debt down to $60m as a minimum in the credit risk adverse environment we have entered.

Potentially just like with FBU, an underwritten rights issue of 1:2 at $1.00 to raise $45m?

[Beagle]

Rights issue inevitable imo.

Debt of over $100m and market cap of $140m - trading on an enterprise multiple of 15 times!

Banks will want the debt down to $60m as a minimum in the credit risk adverse environment we have entered.

Agree, CEO nice and confident about FY19 but then again I suppose he would say that in the circumstances.

[Balance]

Agree, CEO nice and confident about FY19 but then again I suppose he would say that in the circumstances.

I think he has taken the right approach - clean out all the crap and blame on previous management (without being so obvious).

Next step is to get the balance sheet into shape so that there is no financial pressure to worry about as the businesses are restructured.

[Balance]

Rights issue inevitable imo.

Debt of over $100m and market cap of $140m - trading on an enterprise multiple of 15 times!

Banks will want the debt down to $60m as a minimum in the credit risk adverse environment we have entered.

http://www.sharechat.co.nz/article/7...aigs-says.html

Craigs must be reading this site for inspiration?

[Scrunch]

Hope not too many punters hurting today

Bit bored today and WINX.AU is in hiatus so got my punting money out and got some STU this morning at average under 150

might be a long time shareholder from here ....ha ha

But watching the action closely

So far this is looking a very astute purchase. Touched $1.70 today so around half the fall from $2 to lows around $1.40 has been recovered.

[boysy]

Got oversold on the way down picked up a few of late - someone seems keen on buying at these levels that’s for sure ....

[boysy]

Looks to be the banks have provided a waiver for the covenant breach on the basis the sales proceeds from the just completed property settlement are used to retire debt. Perhaps that long dreaded CR isn’t quite so likely afterall ....

[steveb]

Now with the possibility of a class action lawsuit regarding the steel mesh fiasco:-
http://home.nzcity.co.nz/news/articl...273131&ref=rss

It looks like in my laymans opinion a quick settlement could be the best way forward?

[bull....]

huge discounted rights issue , must really need the money bad at such a big discount

https://www.nzx.com/announcements/321785