The Evil Diaries: FastJet, ARM and Mulberry

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The Evil Diaries: FastJet, ARM and Mulberry

I may be going mad in that the £13m fundraise through new equity at 50p at FastJet (FJET) (with, it must be added, a warrant to subscribe at 30.5p for each share acquired in the placing) is said to be so arranged – i.e. at a colossal premium to the current price of 35p – simply to avoid triggering subscription limits at M and G. I do not believe that since I just cannot. I bought 200,000 at 34p.

I should warn readers that I have already lost c. £400,000 on this company and could therefore reasonably be said to be a bit unreliable in this matter.

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The Daily Mail is running one of its daily hate programmes in trying to unseat the Softbank bid for ARM (ARM). They now reckon that Softbank will take steps to minimise its tax bills pursuant to the takeover (and that therefore the bid should be opposed). Now, there’s a surprise.

The simple truth is that Japanese depositors getting virtually nil interest on their savings are subsidising this bid. Bring it on babies.

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If anyone finds a source from which to borrow Mulberry (MUL) please do let me know. The current price £10.50 is completely and utterly barmy.

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Mrs May’s offering of “Remind you of anyone?” when dealing with Corbyn has defined her as a prime minister. My guess now is that she could be a truly great prime minister.

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