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CEO quotes bank pulling exposure to 4 other contractors

lse:kie

#1

CEO quotes one bank reducing exposure to four other contractors as well as K - citing banks turning negative on construction.

I think the comment is unhelpful because it creates additional uncertainty- better to have kept silent on 4 other companies facing similar banking issues to K.

K’s share price might fall to 405p- rights issue price - I think a new team needs to be parachuted in to regain market confidence in the business. What about the previous CEO coming back for a short time to put the business on the right footing; when he left the share price was over £14?


#2

KIE…
XXXXX
Keeps failing despite liberum resuming coverage with a buy.
Now 446p


#3

Times business reporter recommends K shareholders take up the rights issue.

What is not mentioned is the dividend or senior team changes. Will K cut the dividend pay out to provide additional capital buffer? The top team, in my eyes at least, have lost credibility and should be replaced quickly.


#4

@stutes
No comment from me on the (need for) changes at the Senior Management level; but on the aspect of the dividend, a cut is implied for 2019 in the proposal to go to a 5 times dividend cover (2.5 thereafter).
To maintain the present dividend with a 5x cover will require a ‘miraculous’ increase in profits. i do think that the days of miracles are few and far between - if they exist at all! - LLV


#5

KIE…
XXXXX
Rights Friday 30th November 405p its gone below that now .
33 for 50 .
Nil paid trading today .
They opened @ 5p after half hour 20p ?? share price below 405p @ 393p odd .


#6

KIE…
XXXXX
Rights deadline in two days 409p share price 394p


#7

KIE…
XXXXX
Only 38% taken up @ 409p… book- runners tried to place them but failed, underwriters offloaded for 360p… closed today 391p


#8

KIE…
XXXX
This climbed to 530p by 8th March 2019, fell back to 502p but gaining a little ( 8% ) yesterday
on news of interserve collapse… the 38% and woodford making the better decision with rights @ 409p


#9

KIE…
XXXX
Big fall this week now below rights at 383p .
This might of been the third one after Interserve .
So much for Woodfords better judgment just one week on .


#10

Think K is on the naughty step until they deliver consistent profit and reinstate div to past le veils.

If K announces one more problem or large provision then I think K will be merged with another plc.


#11

KIE…
XXXX
Tempted @ 340p today did not lift.


#12

KIE…
XXXX
Do not have as many as i thought , saw i bought very high on 10th May 2016.
That is because i paid 1167p i see from old post.


#13

KIE…
XXXXX
In hindsight lucky my order did not lift back in March 2019 , No independent record put in on this holding ( D ) 10th May 2016 @ 1167p only other .
Let rights lapse 20th Dec 2018 @ 409p 38% take up by others.
A wile searching… now in 2nd further further.

Massive fall today 40% on RNS…
I let greed get in the way of patience putting in a limit @ 8.34am for 195p went strait through for 186 , showing how fast it was falling .
Looked like it bottomed @ 158 a short wile after , before the double bottom to 156 had climed back to 167p by midday.


#14

KIE…
XXXXX
Topped up @ 145p went through soon after not a good sign .


#15

KIE…
XXXX
Sliced that last top up this morning @ 171p.


Should of waited up a further 11% next day .


#16

KIE…
XXXXX
Another huge fall today 30% topped up on way down first @ 161p then @ 145p same price as eight days ago .
Buys @ 143 soon after.
And a third time today @ 130p.
It topped @ 202p after i sliced it "to early " but not with hindsight .
Looks like the last one was at bottom lets see how next week pans out .:thinking:


#17

A pessimistic view on Kier from today’s Observer:

http://guardian.newspaperdirect.com/epaper/iphone/homepage.aspx#_article993619e5-3aa2-445a-a576-76bcd53bfd8f

Selling off its profitable house building division seems like a strategic error to me.

Cheers,

Frog in a tree


#18

KIE…
XXXXX
Fridays gamble did not pay off 30% fall on open … rushing for meeting… Louise ringing hectic .
Had a further go @ 116p bounced to 117p before dropping to 110p.
Looks like market agreed with frogs post, which i did not see yesterday lol