Results out soon in August.

Broker recos look very bullish and why not on a P/E of just over 6 to 2011.....

Thomas Cook Group PLC

FORECASTS 2010 2011
Date Rec Pre-tax (�) EPS (p) DPS (p) Pre-tax (�) EPS (p) DPS (p)

Panmure Gordon
02-08-10 BUY 319.00 27.10 11.30 338.00 28.70 12.40

Exane BNP Paribas
02-08-10 BUY 116.00 26.62 10.75 319.00 28.87 11.66

Numis Securities Ltd
02-08-10 ADD 324.20 27.60 11.25 357.10 29.90 11.81

Oriel Securities
02-08-10 BUY 330.40 28.40 11.40 363.50 31.30 12.10

KBC Peel Hunt Ltd
30-07-10 BUY 301.06 25.22 10.75 313.36 26.23 10.93

WestLB
30-07-10 SELL 28.81 11.52 29.91 11.96

Shore Capital
30-07-10 HOLD 312.00 26.50 11.80 347.00 29.50 13.00

Charles Stanley Securities
15-06-10 HOLD

Evolution Securities Ltd
11-02-10 None

Investec Securities [R]
09-02-10 BUY 327.00 27.30 11.74 352.23 29.39 12.49

Fyshe Horton Finney Ltd
25-01-10 BUY

Collins Stewart
24-12-09 BUY

Nomura Research Institute
25-09-09 RED

2010 2011
Pre-tax (�) EPS (p) DPS (p) Pre-tax (�) EPS (p) DPS (p)

Consensus 316.42 26.98 11.36 342.50 29.39 11.96

1 Month Change 1.07 -0.22 0.01 3.43 -0.14 -0.14
3 Month Change -11.92 -1.09 -0.05 -11.79 -1.00 -0.44


GROWTH
2009 (A) 2010 (E) 2011 (E)

Norm. EPS 2.76% 0.38% 8.92%
DPS 14.03% 10.80% 5.26%

INVESTMENT RATIOS
2009 (A) 2010 (E) 2011 (E)

EBITDA �574.90m �589.69m �613.90m
EBIT �372.50m �420.55m �447.05m
Dividend Yield 5.38% 5.96% 6.27%
Dividend Cover 2.62x 2.38x 2.46x
PER 7.10x 7.07x 6.49x
PEG 2.57f 18.55f 0.73f
Net Asset Value PS -240.80p 224.47p 240.43p

What on earth is this all about then?!


RNS Number : 4788F
Thomas Cook Group PLC
23 May 2013
Thomas Cook Group plc
Thomas Cook Group plc announces the pricing of the senior notes offered by Thomas Cook Finance plc
London, 23 May 2013 - Thomas Cook Group plc ("Thomas Cook") today announced the successful pricing of the offering by Thomas Cook Finance plc of EUR525 million aggregate principal amount of its 7.75% senior notes due 2020 (the "Notes"). As part of the GBP1.6bn Capital Refinancing Plan announced on 16 May 2013 the Notes are being issued in lieu of the EUR525m Bridge Facility.
Concurrently with the issuance of the Notes on the issue date, the gross proceeds from the offering of the Notes will be placed into an escrow account. The release of the escrowed proceeds will be subject to the satisfaction of certain conditions.
This announcement does not constitute an offer to sell or a solicitation of an offer to buy any of the foregoing Notes, nor shall there be any offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state or country.
The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933 or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements.
This press release may include projections and other "forward-looking" statements within the meaning of applicable securities laws. Any such projections or statements reflect the current views of Thomas Cook Group plc about further events and financial performance. No assurances can be given that such events or performance will occur as projected and actual results may differ materially from these projections.
This press release shall not be considered an "offer of securities to the public" for purposes of the Luxembourg law on prospectus for public offering dated 10 July 2005 or give rise to or require the publication of a prospectus in any EU member state which has implemented the Prospectus Directive.
Within the United Kingdom, this announcement is directed only at persons having professional experience in matters relating to investments who fall within the definition of "investment professionals" in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 ("relevant persons"). The investment or investment activity to which this announcement relates is only available to and will only be engaged in with relevant persons and person who receive this announcement who are not relevant persons should not rely or act upon it.
This information is provided by RNS
The company news service from the London Stock Exchange
END

glad it's not just me who's thick then! :-)

I just wish some of these RNS were worded in terms that ordinary investors could understand.

Must admit that with the other RNS is a lot to take on for the street PI.

Like I said get in touch with her.

I only understand it having worked for 3 brokers. For the layman in stocks it is difficult especially for new inexperienced types.

Used to know a chap going back to 1998(OFEX BOARD) used to post here when first opened, Pete Hippy they called him ..... genious at working out these sort of things. Died 2 years ago in a bike accident in Bangcok.

Im very bullish not selling my stock.

Panmure Gordon has upgraded its rating for travel operator Thomas Cook by two notches from 'sell' to 'buy' and hiked its target price to 164p following last week's interim results and capital reorganisation.

Morgan Stanley Overweight 149.90 190.00 190.00 Reiterates

Is Thomas Cook cleared for take-off
By Alistair Strang
May 24 2013, 5:00pm


http://www.proactiveinvestors.co.uk/columns/trends-targets/13081/is-thomas-cook-cleared-for-take-off-13081.html

Thomas Cook secures aircraft financing

Thomas Cook Group plc ("Thomas Cook") is pleased to announce further progress with its fleet renewal programme as part of its on-going commitment to building a single, strengthened airline segment aimed at improving the customer experience and reducing CO2 emissions and fuel burn as part of its focus on environmental sustainability.

GECAS has agreed to acquire six A321-200s directly from Airbus, further to a purchase agreement between Thomas Cook and Airbus dated 25 January 2011, and Thomas Cook will lease back those aircraft from GECAS at an average lease rate factor of 0.887 per cent. per month (subject to adjustment for prevailing interest rates at the time of delivery) for 144 months. This implements the letter of intent with GECAS described in the Prospectus issued on 16 May 2013 relating to the recapitalisation of Thomas Cook. The financing of these aircraft is in addition to the recently announced recapitalisation.

It is anticipated that four of the aircraft will be delivered to Thomas Cook in the first quarter of FY 2015, with the remaining two expected to be delivered in the second quarter of FY 2015. As part of the same proposed arrangements, Thomas Cook has agreed to lease an additional three A321-200 aircraft from GECAS for 144 months at market rates, the rental being subject to adjustment at delivery by reference to prevailing interest rates. It is anticipated that the first of these three aircraft will be delivered to Thomas Cook in the first quarter of FY 2015, the second aircraft will be delivered in the second quarter of FY 2015 and the third aircraft will be delivered in the third quarter of FY 2015.

4 trading days left for investors/traders to make their minds up about the RI.

What are you going to do db4?

I sold out at 154p HARRY. I know some posters here sold out earlier for a better price. I originally bought in at 22p, so I'm very happy to be sitting on the sidelines for the time being. I'm sure this is going to £2 before the end of the year, if not before, but sometimes these RI's and Placings can get a bit 'messy' so I will wait until the dust settles before buying back in. Another reason for selling was, quite simply, that I felt the markets generally were/are due for a pull back and I had a lot of money invested here.

Capital Reorganistation

The Company confirms that its previously announced capital reorganisation has been completed and, as a result, the issued share capital of the Company after market close on 3 June 2013 was 934,981,938 ordinary shares of €0.01 each.

The capital reorganisation did not result in an adjustment to the number of ordinary shares into which the outstanding warrants may be converted, which remains at 26,672,713. An announcement will be made in due course regarding the impact of the previously announced placing and rights issue on the number of shares covered by the warrants.

so are any of us any the wiser as to how this RI - am i correct in thinking that PIs never got a look in yet again? - will affect the underlying sp?

If "not at all", then i think the current level is a good entry point - chart below indicates why ....

The way I read this is that the rights Issue is still ongoing as 3rd June is the record date:
The Rights Issue
"The Company proposes to offer 401,556,476 New Ordinary Shares by way of rights to (i) Qualifying Shareholders (other than, subject to certain exceptions, Qualifying Shareholders with a registered address, or located or resident (as applicable), in the United States or any of the other Excluded Territories) and (ii) Placees, at a Rights Issue Price of 76 pence per New Ordinary Share, payable in full on acceptance no later than 11.00 a.m. on 19 June 2013.

The offer of the New Ordinary Shares under the Rights Issue is proposed to be made on the following basis:

2 New Ordinary Shares at 76 pence for every 5 Ordinary Shares

held by (i) Qualifying Shareholders on the Record Date and so in proportion to any other number of Ordinary Shares each Qualifying Shareholder then holds and (ii) Placees as a result of the Placing and so in proportion to any number of Ordinary Shares each Placee would have held on the Record Date if the Placing had occurred immediately prior to the Record Date.

Qualifying Shareholders with registered addresses in the United States or in any of the other Excluded Territories will not be sent Provisional Allotment Letters and will not have their CREST stock accounts credited with Nil Paid Rights, except where the Company, and Credit Suisse and Jefferies Hoare Govett, are satisfied that such action would not result in the contravention of any registration or other legal or regulatory requirement in such jurisdiction."
---------------------------------------------------
The placing is under different terms:
"The Placing
Under the Placing, Credit Suisse and Jefferies Hoare Govett have agreed to procure Placees for an aggregate of 87,591,241 Placing Shares at a Placing Price of 137 pence per Placing Share.

The Placing Price (including the size of the Placing discount) has been determined, following discussions with both existing and potential new Shareholders, to be at the level which the Directors consider necessary to ensure the success of the Placing and the Rights Issue, taking into account the aggregate proceeds to be raised. The Board believes that the Placing Price and the discount which it represents are appropriate."

I have had a word with my broker and he says, the AGM was on the 3rd and the rights Issue has been approved, so will go ahead. Private investors will be asked to participate.

Admission and dealings in New Ordinary Shares, nil paid, commence on the London Stock Exchange and Ordinary Shares marked "ex-rights" 8.00 a.m. on 5 June 2013

Announcement of results of the Rights Issue by 8.00 a.m. on 20 June 2013

Dealings in New Ordinary Shares, fully paid, commence on the London Stock Exchange by 8.00 a.m. on 20 June 2013

probably quite a good deal/discount
consensus?

cynic, this is purely a personal point of view, I prefer to sit on the sidelines for the time being. I'm sure the whole Rights Issue and Placing will be completed successfully, but I'm wary of any further weakening of the share price in the interim.

I'm holding stock and will buy my allocation of rights (if available). There will be a stock price correction but am hoping it will only be brief!

Just closed the rest of my short @125.5.

but presumably that's ex rights though your opening position would have been cum rights, so i wonder what adjustment will need to be made to your notional profit ..... any idea?