Liquid @LiquidMoats

Joined May 2022

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Liquid @LiquidMoats

5 days ago

@memoiresdemari1 @LeaPrunier2 @memoiresdemari1 @LuchesiPhilippe pour info le rapport mis a jour de l'expert independant est en ligne

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Liquid @LiquidMoats

5 months ago

@memoiresdemari1 Je pense qu’il manque du cash dans ton calcul, dans la mesure où les ~€125m de SIEHM, aujourd’hui comptabilisés comme dette, deviendront propriété de FCMC après la fusion.

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Liquid @LiquidMoats

7 months ago

@LuchesiPhilippe @MvdGascool Merci!

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Liquid @LiquidMoats

9 months ago

@LuchesiPhilippe Ils n’ont nommé l’expert que la semaine dernière, donc ça devrait avancer.

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Liquid @LiquidMoats

2 years ago

@mosttt_ Bien d’accord sur le business model, mais n’y a-t-il pas de la dette convertible qui diluerait les actionnaires ? J’avais regardé pour la dernière fois en sortant du COVID.

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Liquid @LiquidMoats

2 years ago

@eriksen_tim @ValueStalker Hi guys. Could you please forward these over if possible? Thanks

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Liquid @LiquidMoats

2 years ago

@off_the_run Funny how they are not exchanging any BOL shares. Only cash or UMG shares.

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Liquid @LiquidMoats

2 years ago

@lundeen_ne Thank you. Just got one.

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Liquid @LiquidMoats

2 years ago

@CalgaryLeveen @typicalcapital … and given he still believes in the SEG assets the structure of the Spin allows him to keep control and most likely a large majority post rights-issue

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Liquid @LiquidMoats

2 years ago

@CalgaryLeveen @typicalcapital IMHO point is that when they calculate the NAV of the HHH take private, the SEG assets (which had >1B NAV) won’t be included, meaning Ackman will have to pay less

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@alexbossert Interesting business... but stock price is v high. With Class B shares, market cap is $630M for a company that invested only $140M CAPEX. How did you get to 20%+ returns? Unlevered returns seem to be 8-10% per my calculations.

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Liquid @LiquidMoats

3 years ago

@ArneUlland This could mean holding A&O at 15x P/E at current prices.

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Liquid @LiquidMoats

3 years ago

@ArneUlland Guidance for FY2024 could be as low as Dkk 300M EBITDA... If you are holding into the earnings you could feel some serious pain.

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Liquid @LiquidMoats

4 years ago

@FoxCastlehold And more importantly - I think they are not calculating the circularity of these shares (i.e. the fact that BOL owns part of each entity). This would represent a large increase to their calculation

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Liquid @LiquidMoats

4 years ago

@off_the_run Great news. Exclusivity is for 3 weeks so all details are already ironed out. One question - if you were BOL, why would you launch the share offer now? Timing is weird and must serve another goal given it's highly improbable they will be able to buy all the shares planned

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Liquid @LiquidMoats

4 years ago

@off_the_run @jourlepluslong @FoxCastlehold Great thread. Thanks.

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Liquid @LiquidMoats

4 years ago

@TintinCapital Did you look into the agreement with Prologis US? Inability for Fibra Pologis to profit from development and messy governance was a no-go for me.