ASX : Virgin Blue in Trading Halt

[brissyflyer]

Just saw on the ASX that Virgin Blue has been placed in a trading halt pending the release of an announcement no later than Wednesday.

No clues as to what the announcement is about, obviously something big.

 

[MrGreg]

I noticed the same thing earlier this morning. I hope it something good. I'm not in the mood to have my shares drop by another stupid amount.

Edit: Found article just then.

http://www.businessspectator.com.au...rs-trading-halt-pd20090713-TW2N8?OpenDocument

 

[ANstar]

Presumably in regards to the capital raising that was leaked over the weekend?

 

[docjames]

Capital raising. :shock:



or a buyout by Delta........haha, just kidding.

 

[oz_mark]

See article in The Age: Virgin shares halted for cash refuel

 

[Nigelinoz]

Sounds like a replay of the QF announcement recently when they wanted to raise 500 million,although I'm not sure of the response they will get,for their sake I hope it's a good one.

 

[albatross710]

The round of capital raisings that have been offered to me as a humble retail shareholder have been good. Bluescope Steel & Rio Tinto shares at 30-40% below the current market prices. Companies are having to discount their new shares to encourage people to tip money in. If RIO has to discount drastically to attract funds I am hoping VBA will also be more attractive.

 

[MrGreg]

The market it open again, turns out it wasnt very interesting at all

 

[Evan]

The market it open again, turns out it wasnt very interesting at all

What was it ?

 

[ANstar]

What was it ?

Just an announcement saying there was no capital raising.

 

[kamchatsky]

Could it be Virgin merging with Air NZ:
Business Spectator - News - BREAKFAST DEALS: Virgin marriage - Wheels and Deals - Michael Feller

 

[Flashback]

Could it be Virgin merging with Air NZ:
Business Spectator - News - BREAKFAST DEALS: Virgin marriage - Wheels and Deals - Michael Feller

Let's hope not! We all know how that ends.

 

[Nigelinoz]

They have apparently told the ASX that there is no capital raising so it will be interesting to see what tomorrows announcement is about.
Curiouser and curiouser.as they say in Alice In Wonderland.

 

[codash1099]

They have apparently told the ASX that there is no capital raising so it will be interesting to see what tomorrows announcement is about.
Curiouser and curiouser.as they say in Alice In Wonderland.

Even curiouser that they should come out of a trading halt with only an announcement about what they are NOT going to do.

 

[rwatts]

Even curiouser that they should come out of a trading halt with only an announcement about what they are NOT going to do.

That's not the way I read the announcement (available here). They just say that the Fairfax media reports are wrong. Eg:

Given the prevailing macro-economic conditions, Virgin Blue Airlines Group assesses capital management initiatives as appropriate, however the Board has not approved any such transaction as has been reported.

(My bolding)

If all they wanted to do was deny the reports then a pre-opening announcement would have sufficed. Instead they requested a halt then took almost five hours to issue the announcement that merely says the details in the newspaper reports were wrong. Obviously something was happening.

Richard.

 

[pauly7]

Why are some media outlets reporting that V Australia's US routes are under performing / losing money? Is it just speculation or poor reporting.... I thought Virgin were happy with their performance thus far...?

 

[Nigelinoz]

Interesting report in the media today.
Virgin goes to Gulf for cash | The Australian

VIRGIN Blue is believed to be in talks with a Middle East airline about securing a cornerstone investor as it looks to raise cash to recapitalise the business.
The key to getting any deal across the line is British billionaire Richard Branson. As a 25.5 per cent shareholder of Virgin Blue, he calls the shots.
The talk is, Branson needs to be convinced of a deal. He can either sell out to a cornerstone investor or stay in and agree to dilute his shareholding by not taking up his entitlement in a rights issue.
In the past, Branson has not shown any inclination to increase his stake despite the shares falling as low as 17c, nor has he shown any indication of being a willing seller in the recent past.

If it's true my money would be on Emirates as being the only airline with enough cash at the moment.

 

[notzac]

If it's true my money would be on Emirates as being the only airline with enough cash at the moment.

Hrm, extrapolating from that ... could this mean a return to domestic First in Australia?

 

[Mal]

Interesting report in the media today.
Virgin goes to Gulf for cash | The Australian

Was also commented on in this thread: http://www.frequentflyer.com.au/community/open-discussion/dj-seeks-middle-east-investor-18597.html

 

[Nigelinoz]

oops.........