I have been holding HMV shares since floation and yet to make any money. In the meantime, I shorted @ 197.25 hoping to buy at 193 for a quick small gain. Strange no body else seems to be following this stock. All comments welcome.

HMV was off 2p at 123p on the back of a downgrade from Morgan Stanley, which moved to underweight on fears that the CD and DVD market seems to be in terminal decline.

Wow HMV up 49.39% in one day who would have thought that. Something must be happening, maybe RNS Tuesday.

Talk is that they have come to some sort of arrangement to the banks.

I saw that but I think there is more to this day rise.

HMV nears refinancing deal with its lenders

Monday 6th June 2011, 4:42am GMT
RETAIL

EMBATTLED retailer HMV is close to securing a vital refinancing from its lenders, a source close to the company confirmed yesterday.

Months-long talks with HMVs lending syndicate, led by Lloyds Banking Group and RBS, are close to yielding a two-year refinancing of between 210m and 230m, allowing the firm some breathing space to get its restructuring on track.

The company agreed to sell its Waterstones book chain to Russian tycoon Alexander Mamut last month, with the 53m proceeds helping to cut its debt pile.

The firm will put the sale to shareholders for approval and expects the deal to be finalised by the end of the month, around the time of results for the full year to the end of April.

HMV, which is approaching its 90th anniversary, has been ramping up sales of gaming and technology products to try and offset an industry-wide decline in CD sales. The company said in March that its underlying pre-tax profit for the year would be below market expectations of 45m.

A spokesperson for HMV declined to comment yesterday, while its banks did not return calls for comment.

Could be some profit taking today. I will try a short trade.

Bernard - good luck with that!

Revised Bank Facility and Posting of Circular



Revised Bank Facility

The Company announces that it has entered into revised term and revolving credit facilities (the "Revised Bank Facility") of 220 million with its lending banks, to replace the existing bank facility of 240 million. The Revised Bank Facility comprises a 70 million term loan ("Facility A"), a 90 million term loan ("Facility B"), and a 60 million revolving credit facility ("Facility C"), and is conditional upon satisfaction of customary conditions precedent and payment of a proportion of the disposal proceeds to pay down the existing bank facility. The final maturity date of each of the facilities is 30 September 2013.

UK Taxpayers To Own Shares In HMV


(c) Sky News 2011, 8:26, Tuesday 7 June 2011


British taxpayers will become shareholders in struggling entertainment chain HMV as state-owned banks take a stake in the group.

As exclusively revealed by Sky City editor Mark Kleinman, HMV's lenders will be granted warrants in the company worth up to 5 per cent of the company's shares.

The arrangement is designed to give the struggling retailer's banks exposure to any recovery in HMV's share price during the coming years.

HMV's lending syndicate is led by Lloyds Banking Group (LSE: LLOY.L - news) and Royal Bank of Scotland (LSE: RBS.L - news) , the two banks in which the Government owns 83 per cent and 41 per cent stakes respectively.

HMV has struggled with competition from cheaper, internet-based rivals, the high street downturn and soaring property costs across its chain of shops.

Stopped out never lost money so fast. Wrong call.

Probably time to buy as rescue in place.

Losing most of its previous gains now. Good short.

HMV funny no trades, some say trades are going through on the plus market. Do not understand this.

HMV sell this dog

noticed Dir has transferred-in a large tranch of shares - is this "rearranging the deck-chairs?" - anyone explain?

I'm aware of the lack of business via Record Sales....but have they any assets which are worth a bob, or two?

http://www.redmayne.co.uk/research/securitydetails/financials.htm?tkr=HMV

hmv LOL
they lack internet access right now
gl

double LOL
nothing serious
yeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaa

et toir

http://www.youtube.com/watch?v=CRWNJk9_2hI&feature=related

This is a 4p disaster.

is HMV selling deckchairs ?

Record sale now on.

Is that a pun?

lol skinny.

HMV suffers loss of £36.4m
Grace Jennings-Edquist

Published 19 December 2011 Music giant admits an uncertain future.


Busier times: the Oxford Street, London HMV store last December.
DVD, music and games retail group HMV has admitted facing "uncertainties which may cast significant doubt on the group's ability to continue as a going concern in the future" in a first half results statement today.

The retailer, which posted a pre-tax loss of £36.4m for the six months to the end of October, has now reported devastating like-for-like sales figures in the run-up to Christmas. Shares in HMV fell nearly 10 per cent after the results were published, leaving the business valued at £16.4m.

HMV sold bookseller Waterstone's and HMV Canada in June to raise a total of £55m in a rescue deal with banks- and may now be looking to sell its live music division, which operates legendary venues such as the Forum, it conceded in a statement.

HMV chief executive Simon Fox put on a brave face today, commenting: "Like all consumer-facing companies we are facing tough trading conditions but we continue to push forwards through this period

The High street is of the past.

Blacks leisure finished trading today and there is significant doubt whether HMV will continue in its present form.

One of the most keenly awaited updates will be from HMV on Monday. The music chain has been struggling all year and is only still with us because it managed to persuade its banks to throw it an ever more slender looking lifeline. But no one is expecting great news, with forecasts of around an 8% fall in sales on the cards. The future is not looking rosy right now, and this could, sadly, turn out to be HMV's last Christmas in its current form.

A seventh year of falling UK music sales dealt another blow to the HMV share price on Tuesday, which closed down more than 3% despite speculation surrounding the sale of its live music arm.

The entertainment chain is struggling to service a debt pile of more than £160m after sales of CDs, DVDs and video games fell sharply last year. The uphill task faced by the last national music and DVD chain was spelled out in the latest figures from the BPI, which showed sales of albums on compact disc dropping 12.6% in 2011.

Last month HMV's boss, Simon Fox, said it needed to sell HMV Live, its most profitable business, which operates 20 venues and festivals, to raise cash. Sky News reported Peter Dubens, founder of Oakley Capital, was interested in making an offer for the business that HMV paid £60m for two years ago. The entrepreneur's interest did not prevent HMV's shares closing down 0.12p at 3.35p.

Interim Management Statement.

Christmas trading update

Ø HMV Retail like for like sales are down 8.2% for the 5 weeks to 31 December 2011, representing an improvement in performance from that announced with the interims on 17th December 2011.

Ø In the 144 stores refitted with an extended Technology range of portable digital products, technology like for like sales were up 51% in the 5 weeks to 31 December 2011, an improvement in the previously reported average of 42% since the respective store refit dates.

Strategic Review & Outlook

Ø The previously announced strategic review of HMV Live is continuing to make good progress

Ø As reported on 19 December 2011, the Interim Statements were prepared on a going concern basis. However, the economic environment and trading circumstances create material uncertainties which may cast doubt on the Group's ability to continue as a going concern in the future, and these uncertainties continue.

Ø The Directors continue to maintain regular discussions with the Group's banks and these discussions remain constructive and positive.


Commenting, Chief Executive Simon Fox said:

"The continuing actions to focus the business and to expand our Technology offering are beginning to show through. We are seeing a combination of a slowing of the decline in Music and Film, and acceleration in the growth of Technology. Undoubtedly trading conditions and the consumer environment remain challenging, but we remain confident in HMV's future prospects."

main item is the 8.2% reverse in sales - i see the technology like for like is up 51% but that is only over a 5 week period and what is that 51% in £££s i.e. actual value - as they did not mention the vaalue i would guess that 51% is 51% of not very much in real £££s value terms

other worry is as always they really are not a going concern as current business model which means perversely the sp should fly today!!! lol

gla

in the red where it should be after all then - makes a change for the sp to go where it ought to

Anybody still holding? only up 190% today still along way to go yet for me.

Incredible.

Quite spectacular.

Group update


HMV Group today announces that its banking syndicate has agreed to amend the covenant package on its existing borrowings. In particular, the banks have agreed to waive the January 2012 covenant test and to re-set tests relating to the 12 month periods ending April and July 2012 with significantly enhanced headroom.

The banking group has done this in response to a change in the nature of HMV's relationships
with its key music and film suppliers, which includes the intended grant of warrants representing 2.5% of its equity to these suppliers.

This will have a materially positive impact on the Group's profitability and cash flow such that if current trading patterns continue, we now expect, on the basis of our current plans, to be able to reduce the Group's net debt by approximately 50% over the next three years. This reduction in debt is before any assumed disposal proceeds from the ongoing review of the Live business.

For the year to 30 April 2012, HMV expects net debt to be £175-180m and in expectation of continuing challenging conditions believes it is now likely to deliver a slightly larger loss of around £10m for the full year.

Chief Executive Simon Fox said, "Today's announcement is enormously welcome. These developments represent a material improvement in our financial position relative to the statement we made at the time of our Interim results. The new relationship with our suppliers and the support of our banks will now enable HMV to wholeheartedly focus all of its energies - working in close partnership with its suppliers, on serving the changing needs of its customers ever more effectively. As a key part of this we remain committed to improving our specialist ranging and merchandising of music and DVD whilst also continuing to grow our sales in portable technology and further developing our online and digital offers."

David Joseph, Chairman and CEO of Universal Music UK said, "HMV is a vital part of the UK music industry and we are delighted that the support of the film studios and music companies is helping to secure its future. We look forward to working closely with HMV in the years ahead."

Interim Results.

Financial Summary for the 26 weeks

· Total sales from continuing operations £288.6m (2011: £333.7m), down 13.5%.
Like for like sales (from continuing operations) down 10.2% (2011: down 11.9%)
· Operating loss before exceptional items from continuing operations of £24.1m (2011: loss of £33.2m)
· Total Group loss after tax and exceptional items reduced to £36.1m (2011: loss of £50.1m)
· Adjusted EPS from continuing operations1 improved to loss of 8.1p (2011: loss of 9.1p). Basic EPS loss from continuing operations of 8.8p (2011: loss of 11.3p)
· Net cash outflows from operating activities £33.5m (2011: outflow of £28.4m)
· Underlying net debt2 of £176.1m (2011: £163.7m)
Business Update
· New CEO and CFO recruited in September 2012
· Growing market share in all formats with suppliers continuing to provide strong support
· Disappointing release schedule in summer 2012 impacted sales but LFL trend improved in the second quarter
· Current market trading conditions result in material uncertainties facing the business. Probable covenant breach at the end of January 2013
· Constructive discussions with the Group's banks including keeping them fully informed in relation to current trading

Commenting, Chief Executive Trevor Moore said:
"HMV has had a difficult first half. However, the business has started to deliver a number of new initiatives which will help to maximise the seasonal sales opportunity and provide a platform for growth in 2013.
Additionally, as we trade through this period we will continue to develop further initiatives with our suppliers and I will provide updates at the appropriate time."

Incredible in 2012 a shop selling vinyl records.

incredible they are still trading more like lol!! i stick with my janurary comments earlier this year - hmv must have lost loads of pis large probably several times over - now finally in the final death throes - should be a pre pack administration announcement soon imo say second / third week jan when they realise what a dire xmas it has been for hmv - that will be the final nail imo - if anyone still living a hope in here imo take what little you can now run and write it off as a loss against your next cgt bill - best parts of whats left of this disaster will be cherry picked in fact i have heard certain sites already allocated in preparation of the ineviatable - feel sorry for the 4500 souls due to be redundant here soon

i notice trevor moore did not mention in his statement the increasing problem hmv have in finding anyone to insure them which is making their suppliers very tetchy - this is the same problem comet had recently and sadly they went belly up also and that was one of the reasons why

HMV being pursued by Apollo Global Management

Apollo Global Management, one of the world’s largest investment groups with almost £70bn of assets under management, is plotting to acquire troubled high street retailer HMV.

The New York-based group, often described as a “vulture fund”, snapped up 10pc of HMV’s debt last week in a move some are predicting could lead to a takeover. The music chain has already warned it is likely to breach banking covenants in the New Year.

lol gl

the purpose of appollo is not for shareholder benefit! but to vote through bad decisions for ordinary shareholders

Afraid its cortinas for all holders.

1600E ?

perfect.

HMV music and film chain to appoint administrator

Music and DVD chain HMV is to appoint an administrator, making it the latest casualty on the High Street and putting about 4,350 jobs at risk.

Deloitte will keep HMV's 239 stores in the UK and Irish Republic open while it assesses the prospects for the business and seeks potential buyers.

Trading in HMV shares on the London Stock Exchange is being suspended, HMV said in a statement late on Monday.

Suspension of trading in the ordinary shares

Sad day for all connections.

it is a sad day - i am glad i am not the person who spent £49.74k last night @ 16:23:23 on what must have been a pure gamble to wake up this morning and find it is now worth jack? 14-Jan-13 / 16:23:23 / 1.16p Buy Volume 4,287,703
best wishes to the employees in these difficult trading times

was probably covering his short

Preston on R4 earlier gave a good account - the consensus was/is that these will survive in some shape or form.

HMV 'confident of finding solution'

15 January 2013 Last updated at 13:33

The boss of HMV has said he is confident of finding a solution to the embattled retailer's troubles.

Trevor Moore said management had begun working with administrators Deloitte.

"We remain convinced we can find a successful business outcome," he told journalists. "The intention is to continue to trade the stores."

Grandad steals from HMV after voucher row

Eric Nolan, from Tyrellstown, Dublin, told the Irish Independent that he took three computer games from the Dublin store in fury, after staff refused to take his grandson's €40 gift voucher. He was stopped by security staff, but ignored them, and after they followed him down the street they eventually gave up.

HMV will accept gift vouchers

The administrators of HMV have said that the music and DVD retailer will start accepting gift vouchers in stores from Tuesday.

Deloitte had previously said that gift cards could not be redeemed in stores, leading to anger among many customers.

Deloitte said it was able to honour the vouchers after assessing HMV's financial position.

Meanwhile restructuring specialist Hilco has emerged as the frontrunner to save HMV, reports say.

HMV: Restructuring specialist Hilco takes control of retailer

Restructuring specialist Hilco has taken effective control of music and DVD retailer HMV.

Hilco, which already owns HMV Canada, has bought the debt of HMV from the group's lenders, Lloyds and Royal Bank of Scotland.

The debt deal gives Hilco effective control of HMV, which fell into administration last week.

HMV is sold to Hilco in rescue deal

Restructuring specialist Hilco has clinched a deal to rescue music and DVD retailer HMV.

Hilco, which already owns HMV Canada, said it had acquired 132 HMV shops and all nine branches of the Fopp chain in a deal that could save 2,500 jobs.