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Just catching up on this, great news and certainly a surprise. Whilst part of me wishes we'd stayed independent and continued our growth path, the offer is very good so i'm happy with my return of doubling my initial investment
Sold them about 8 weeks ago at a good profit . Cannot always be in at the bottom and out at the top .
TheBaker, what are you doing! Come on!
****ed if I sold 1500 before this announcement
Mon 19 Mar 2018 17:14 RNS Number : 2031I Cie. Generale des �tab. Michelin 19 March 2018 OFFER FOR FENNER PLC THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION Not for release, publication or distribution, in whole or in part, in or into any jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction 19 March 2018 RECOMMENDED CASH ACQUISITION of FENNER PLC by COMPAGNIE G�N�RALE DES �TABLISSEMENTS MICHELIN SCA Summary � Compagnie G�n�rale des �tablissements Michelin SCA ("Michelin") and Fenner plc ("Fenner") announce that they have reached agreement on the terms of a recommended cash acquisition by which the entire issued and to be issued ordinary share capital of Fenner will be acquired by Michelin. It is intended that the Acquisition will be implemented by means of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act. � Under the terms of the Acquisition, each Scheme Shareholder will receive 610 pence in cash for each Fenner Share, valuing Fenner's existing issued and to be issued ordinary share capital at approximately �1.2 billion. � In addition, Fenner Shareholders will be entitled to receive and retain a proposed interim dividend of no more than 2.1 pence per Fenner Share to be declared on or around 25 April 2018, payable to Fenner Shareholders (by reference to a record date to be announced at the time of that declaration) ahead of the completion of the Acquisition (the "Interim Dividend"). � The price of 610 pence per Fenner Share represents a premium of 30.7 per cent. to Fenner's share price of 467 pence at the close of business on 16 March 2018, the last business day before this announcement, and a premium of 32.8 per cent. to the volume weighted average of Fenner's share price over the three months prior to this announcement (459 pence).
Based on yesterday’s RNS for TO which Fenner board agree too
On takeover talk and no comment ?
FENR eased the pain of CRST today.
on the up again good bounce from 465p
Have held this fit a while but sold half in November Ah well looking good for 2018
It's phenomenal. It's gone from being my worst performing share to my best performing in such a short space of time. And to think I nearly cut my losses and got rid of this! I always thought the diversification was a good idea but never thought the commodity sector would rebound so rapidly. It's really riding a crest of a wave atm
yes you are right mate , from �1 to 478 in two years .
Belting update. Wish I'd topped up when it was down at just over a �1 a share not long ago. �5 here we come
Fenner rides out storm to post �significantly improved� full-year results; simultaneously upgrades guidance for current year
FENR Fenner moving up nicely, chart above. They report on 15th Nov and last update was STRONG. breaking out from downtrend channel Update 15th DEC, last update : <b>"will be comfortably ahead of its previous expectations"</b>😃😎 https://pbs.twimg.com/media/DNspRTFW0AAPWF4.jpg
FENR Fenner breaking out from the down trend channel, should benefit from a recovering Oil and Mining Indu. 2018 EPS Inc 16.2%... P/E 17.5😎😃 Next update 15th November...........last update...... <b>Outlook Trading across the Group remains positive and, on the basis of the improved outlook, most notably in the medical businesses, the Board anticipates that the Group's operating profit for the financial year ending 31 August 2017 will be comfortably ahead of its previous expectations, with the added benefit of a reduced interest charge going forward.</b> https://www.investegate.co.uk/fenner-plc--fenr-/rns/trading-update/201707070700033743K/ https://pbs.twimg.com/media/DNjLSJvW4AUSRqt.jpg
Excellent rally
Excellent trading update, can see this moving upto £4 soon enough.
and i hope more to come
now hit. This is something I didn't foresee 6 months ago...........wish I'd topped up!
Full broker notes for FENR Fenner. <b><u>NUMIS</u></b>....... <b><i>Update. Company reports that results will be ‘comfortably ahead’ of previous guidance citing progress in all businesses. This is being driven primarily from the cost actions and sales efforts (e.g. into industrial and aggregates markets in the US) rather than any significant changes in end markets. ECS - US coal seeing some increase in activity note that coal production is up c40% from spring 2016 lows albeit remaining at historically low levels. Key actions taken in America, particularly on the cost front, appear to be gaining good traction. Australia is ahead of the previous year despite order levels being flat as miners focus on costs even as commodity prices improve. We note Rio recently announced their 2017 capex budget including increase Australia investment. AEP is seeing some upside at CDI as the rig count improves and Hallitte seals business benefiting from internal actions. Overall therefore the group is benefiting from internal actions and the lack of negative operational gearing / first shoots of a recovery suggesting that the positive impact of operational gearing is still to come as commodity markets improve.</i></b> <b><u>Peel Hunt</u></b> <b><i>AEP is seeing an improving trend in order intake and customer enquiries in Oil & Gas, reflecting its strengthening market position and a further rise in the US rig count. The Medical businesses are performing well and in line with expectations. ECS – some increase in order intake in North America, from very low levels. Outlook – whilst market conditions remain similar to November, the group is enjoying market share gains. As a consequence, the Board envisages that the Group's results for the current financial year will be comfortably above previous expectations. Forecasts: We expect to increase our August 2017 PBT by c10% to £34m (12.8p). The group is clearly now on an upward trajectory and we anticipate more material upgrades for FY2018E as the key end markets continue to recover, enhanced by further market share gains. On our indicative forecasts, the shares are trading on an August 2017 PER of 18.5x, falling to 15x August 2018 & 1.3% yield. We are increasing our target price to 300p and upgrade our recommendation to Buy.</i></b>
Absolutely. My average is £3.20 here anyway, I remember the days when it was over £4 so holding out for some time yet now. Prospects certainly look better after rationalisation. With further debt reduction, the group can then hopefully return to a better dividend which will see the SP rise further. Certainly the weak pound will help on the currency gains. All looking good
will push the share price over £3 in the next six months so dont sell
i was expecting trading statement on the 11/01/17 and i missed my chance to top up on Tuesday.
FENR Fenner 2 Broker UPGRADES.... Fenner PLC FENR Numis Hold 268.63 236.50 - 250.00 Upgrades Fenner PLC FENR Peel Hunt Buy 268.63 236.50 260.00 300.00 Upgrades Fenner PLC FENR finnCap Buy 268.63 236.50 300.00 300.00 Reiterates