By Nigel Somerville | Sunday 2 December 2018
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Shares in fully-listed Interserve (IRV) had a bad week last week, tumbling to a new low point of just 27.5p, which makes my sell call at around £1 look like an act of pure genius. Having suffered something of a tremor following a BBC report that there were plans to tap shareholders up to sort out its balance sheet – which looked a little unlikely given the (then) market cap of around £50 million and debts of around £600 million without a massive debt-for-equity swap – the shares recovered some temporary poise on a Statement following recent press coverage which failed to mention the issue.
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