Discontinued thread

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Happyst Patricks day.

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Seem a bit expensive.

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There's no doubt these Midas tips usually have an immediate effect on the share prices after they are published.

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Will new investors really miss the summer bumper payment with Aveva ?

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A nice mention of HICL in the above article! :-)

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Looks interesting.

Further research for me.

Cheers DC

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Blimey that EDEN tip has moved it!

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Wouldn't have been much point - it opened @12.13p.

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"It is not an easy task but British Gas and Severn Trent should offer some useful pointers on the way".

Typical journalist won't say buy in case it goes tits up.

Dream this aint having a go at you cos I appreciate what your posting but buyers beware cos "Joanne" rarely posts updates on the ones she gets wrong.

If she does then its along the lines of .... XYZ tipped at 10p reached a high of 132p giving followers plenty of time to lock in a super dooper return before a profit warning/scandal/etc etc rendered the shares next to worthless.



If she were that were that good she wouldn't have to rely on a salary picking them :-)

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Wrong bra size..!

and whats with the belt.

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nice buoyancy bags :-0

bmn worth a buy imo btw :-0

http://www.theel1tetrader.com/2013/10/bushveld-minerals-take-advantage-of.html

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The belt is just underlining the assets!

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The thread has been renamed - Midas share tits - just for today!

mitzy - quite possibly, but she certainly needs someone to take her in hand - preferably someone who has an idea about styling and dress sense!

I think the dress has far too high a neckline, a low V-neck style would look much better.

lol.

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sorry, but she's a mess, neither taste nor style

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not one i have ever followed

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That latest picture is miles better dc and I agree with you about the shares - not for me either. Thank you for starting the thread 'tho, it makes interesting reading and as you have said a lot of these Midas share tips quite often start going North early on Monday mornings.

Aged 47 Cooper has two daughters. She drives a Porsche Carrera and enjoys a pint of Guinness and a cigar. She is paid £1.9m
2517

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again, it would be wise to note the pathetic volume and thus, by implication, the lack of liquidity

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Why you shouldn't buy shares in Legoland owner Merlin Entertainment
Questor editor John Ficenec says investors should avoid buying shares in Merlin Entertainment when it floats

Experian Credit Report. The UK's No.1 Credit Report. Click here for a 30 day trial.Advertisement
By John Ficenec, Questor editor1:03PM GMT 30 Oct 201330 Comments
Merlin Entertainments, the owner of Alton Towers and Madame Tussauds, is launching its £3bn IPO. Will this be another Royal Mail and rocket on day one or will it fall as flat as Facebook?
Will Merlin conjure up Royal Mail style gains?
First up, the theme park owner is a very different animal from Royal Mail. Spending on trips to theme parks is discretionary and dependent on consumer confidence and therefore more cyclical. Questor thinks Merlin revenue and profitability is therefore exposed to a downturn.
Merlin will also not offer anything like the kind of 6.1pc dividend yield that Royal Mail outlined in its prospectus. Guidance from senior management was anything in the range of 0.5pc to 1pc hardly stellar. The reason for the lower dividend is that Merlin is growing revenue faster but this argument is far from compelling, more on which later.
With little on offer by way of dividend and less than compelling financials it is difficult to envisage strong gains on day one, Royal Mail this ain’t.

Merlin: wizard or witch?
In terms of revenue, Midway attractions that owns Madame Tussauds, London Dungeon and London Eye represents 43pc, Legoland parks across the world 29pc, and Resort Theme Parks such as Alton Towers, Thorpe Park and Warwick Castle 27pc.
Legoland Parks are based in countries such as America, Germany and Asia, and this means that while 40pc of total group sales are still UK based, 26pc is in Europe, 20pc North America and 14pc Asia Pacific. Also while the majority of revenue, or 60pc, is still outdoors and weather dependent, the reset - a meaningful chunk - is now indoors.
The theme park company has increased revenue by an average of 12.9pc a year between 2008 and 2012, reaching £1.07bn in 2012. However, that growth has come at a price. Merlin has been busy buying other attractions to boost revenue. In 2008 it bought London Aquarium, in 2011 it built Legoland Florida and purchased Sydney Attraction Group, followed up by the 2012 purchase of Living and Leisure in Australia. Stripping out those acquisitions Merlin said revenue growth was a more muted 3.8pc average during the last six year period, or roughly in line with inflation.
Questor believes those acquisitions have been funded by a growing debt pile. In June 2010 debt levels were about £1bn, the company now says the ratio of net debt to earnings before interest tax depreciation amortisation (Ebitda) was about 3.5 times. The Group reported Ebitda of £346m in 2012, giving a rough net debt figure of £1.2bn, or 20pc higher than three years ago.
The company also has said it is highly cash generative but Questor thinks there are too many claims on that cash before it can be returned to investors. Theme Parks are capital intensive, they need refurbishing or they look tired and people stop going. Merlin’s capital investment spend was £163m in 2012, and £174m in 2011 that represents about half of cash profits or Ebitda that goes on attraction upkeep. Then there are the interest payments on the debt that have averaged £110m during the last three years, and then tax at £17m a year.
So, before acquisitions and other one off costs, Merlin only converted 24pc of its Ebitda, or cash profits into actual cash that could be used to fund returns to shareholders, in 2010 and 2011 that conversion into cash only averaged a 6.5pc . Merlin says its assets are now in excellent shape after years of investment and can reduce that capital spend amount, which is true, but they will still need refurbishing again at some point.
Who is pulling the strings behind Merlin?
This isn’t the first time Merlin has tried to come to market, it shelved plans for a public offering in early 2010 citing market volatility, then the group was valued at about £2.5bn including debt. The company is currently 36pc owned by Kirkbi the investment arm of the Lego brand, 34pc Blackstone the private equity group, 28pc CVC also private equity and 2pc management.
The sale looks like a classic private equity exit. Private equity firms run funds that typically have a ten year life span, they invest in assets like Merlin for five years then sell during a five year period. Blackstone invested in 2005 and CVC invested in 2010. Since 2010, Blackstone has already reduced its ownership from 52pc, and Questor thinks both private equity owners are not in for the long haul.
The clue is in the name, they own equity in private companies where they have control, public companies are an unwelcome headache. The private equity groups are locked up from selling for a period of 180 days from the IPO, after that stake selling could create downward pressure on the shares.
The numbers
The offer is priced at between 280p to 330p, valuing the group at between £2.86bn and £3.34bn. The offer will raise gross proceeds of £200m, but after £35m in costs, the majority of the remaining estimated £165m will reduce the debt pile.
Conditional trading is set to begin November 12, with unconditional trading on November 15. Questor thinks the float looks opportunist, debt laden and an exit for the private equity groups. The recent acquisitions in Australia could also suffer from the economic slowdown down under. There is little to be excited about here, avoid.
john.ficenec@telegraph.co.uk

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Well posted D/C, Must admit it's not a share that i've heard of considering it's quite a well known brand, also it's on Aim and a 1% S. Duty to pay share, being as its Ireland based. Interesting all the same though.

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Yes, that would help wouldn't it, instead of that people will be buying in on Monday whilst the SP. Promptly drops I expect.

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Initially Yes, but have noticed that they drop after as well? I am generalising of course, but bit of a coincidence that we have a number of outfits talking FFY up over the weekend don't you think?

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Looks interesting!

I like this type of investment.

Are you going to start a thread or shall I?

Tritax Big Box REIT plc Intention to float

Tritax Big Box REIT

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i confess i have a deep-seated dislike for so-called venture capitalists and their ilk ..... it seems to me that they are little better than the greediest of vultures who look after themselves very well indeed and squeeze their prey like anacondas ..... as a salutary example, you may care to read about permira and birdseye in today's ST

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