Jump to content
Sign in to follow this  

Finablr (owner of Travelex)

Recommended Posts

Finablr (owner of Travelex) had some news to announce today.

https://www.investegate.co.uk/finablr-plc--fin-/rns/pdmr-notification/202001241000348631A/

and

https://www.investegate.co.uk/finablr-plc--fin-/rns/statement-regarding-share-price/202001241803249240A/

I went short at 128.88 after reading how badly things were going with the Sodinokibi attack on Travelex.

https://www.theregister.co.uk/2020/01/08/travelex_update/

https://www.computerweekly.com/news/252476624/Travelex-begins-to-restore-foreign-exchange-services-two-weeks-after-Sodinokibi-attack

The Travelex website has been down for over three weeks.

I think Finablr is a house of cards.

Share this post


Link to post

https://investors.finablr.com/en/reports-and-releases/regulatory-news/

Quote

Finablr is currently taking urgent steps to assess accurately its current liquidity and cashflow position, which has been adversely impacted by a number of factors:

  • travel restrictions imposed to limit the spread of Covid-19, which have reduced demand for its foreign exchange and payment services and has restricted the movement of physical currencies that the company needs to operate its businesses;
  • the recent credit downgrade of Travelex's bonds; 
  • a liquidity squeeze at both Group and operational business level; and 
  • adverse perceptions in the market that the circumstances surrounding NMC Health PLC (the management, operations and finances of which are independent and separate from those of the Company) are relevant to Finablr, which have exacerbated current levels of stress on the Company's cashflow position.

 

These factors place significant constraints on the Company's access to the daily liquidity the Company needs to manage its business effectively and its ability to negotiate longer term financing. Due to the fast-moving nature of the events and circumstances referred to above, the Company is urgently seeking to complete its assessment of its liquidity and cashflow position and negotiate the steps that are necessary to address its short- and longer-term financing needs. 

I think this is the endgame.

Share this post


Link to post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
You are posting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

  • Member Statistics

    • Total Topics
      13,162
    • Total Posts
      66,788
    • Total Members
      89,604
    Newest Member
    Joey23
    Joined 01/12/20 15:42
  • Posts

    • Thanks for clarifying. The support person clearly did not understand this at all, and the website is very vague! The 0.5% is something I'm used to from other platforms, and much easier to absorb as a cost on small positions when making a good entry
    • There was another fork the other day - Bitcoin Latinum - the world's largest "insured" digital asset. One wonders if every time another variant is created it simply draws away potential investors from the original version. I bet committed Bitcoiners wish these variants would all just fork off 😉 I saw something the other day that happened to mention that a Bitcoin was worth about 10 ounces of Gold.......then it hit me - would I prefer to be offered one Bitcoin out there in the ether or ten ounces of physical Gold in my actual possession? 10 Bitcoin to buy a single ounce of Gold intuitively feels like the more sensible way around as I'm certain that Gold is safe but several times less certain that Bitcoin is - so we could be out by a factor of 100! But whilst fund managers all start allocating the odd fractional percent to get exposure to Alpha for minimal portfolio downside the price will probably hold or bubble up even more. It will be interesting though  if national regulators later turn round and ban funds from holding cryptos - then they will all have to rush for the exit at the same time. Maybe that's the ultimate expected outcome.  According to Wikipedia in March 2018 0.5% of bitcoin wallets owned 87% of all bitcoins ever mined. Imagine if  transferring that 87% to fund managers at peak prices is the intended end-game before it all collapses? It would make Bernie Madoff look like a mere pick-pocket.  
×
×