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I'm in. Just bought 20,000. Been watching this for some time thinking it's a bargain and it just gets cheaper and cheaper.
The company is so tiny that even the news of the possible buy out has gone under the radar of most people. My best guess would be that the company will get bought out at something like mid way between the current price and the NAV so maybe around the 50p mark. That would be fair to all, leave plenty on the table for the buyer and leave the current shareholders with a decent uplift from the current SP.
I agree, thats why i found it surprising they mentioned the NAV and SP should be a lot higher, they implied a value. appreciate its not what its actually worth but what people will pay, clearly enough think that is higher than here
50 p would be a good start
All, at best I cannot see CEO paying more than 40p a share even if he get 70% approval after review and putting case to MM’s. Him and his family as you see from major shareholders on Orchard website own 59% of the stock. He would need £3-4 million pounds to buy the 15% of shares he needs to take it private. If he offers 50p the deal is done!!
I was surprised from one perspective they mentioned the NAV and 83p as that gave some indication of where sp should go and then linked to buy price???
i'd like to think 83p, gob smacked if there any where near that. fair value is often based of current sp and adding a bit to it. he might be a nice ceo and off towards NAV? its generating income, cash and profit so maybe he's comfortable with that
Correction 83p should say 83p / share
To delist it would take 75% of the vote, please correct if I am wrong. If holders don't want to hold delisted shares then those who would, would have to get enough to get the resolution over the line. Rns says nav is 83p, and I am not suggesting shares would be bought anywhere near that price but buying my push the price higher than what it is today.
@Crawshaw didn't know you were charged with policing these boards and telling people what to do. Alternatively you're just up your own h o l e and are a total k n o b.......
People must have some confidence the delist price is higher than now and the fraud case has been put to bed and seen as specific and won’t happen again or any other parts of the business. this is a successful business that will now be bought out
Newgrange, this isn't a pump and dump, move on.
MM's now upped offer to 24p
Plenty of buys coming in. Maybe shares are being mopped up on foot of today's announcement. Worth a punt.
If they offer the 87p indicated in last nav report then i’ll take that, they won’t go anywhere near it
Obvious but well stated.
If a Capital Return or Cancellation is determined to be appropriate by the board, the company will seek to ensure a partial exit for shareholders. The company will not put any resolutions resulting from the review to shareholders unless it reasonably believes that such resolutions would be passed at a company general meeting.
they need us to vote but everything is now written to demonstrate they have no choice and in everyone’s interest. this is a management buyout. now announced no one will buy the shares either
Good, viable business, had an aspect of fraud, sp lower, great opportunity as liquidity in market is now so low to use as excuse and opportunity for ceo to buy out full business at a no doubt huge discount.
they’ll calculate fair value based of last 30 days trading etc, add 10% and that will be recommended sale price. before anyone starts there is little we can do, its all legal!
Sadly these instants of company fraud are rarely isolated, fingers crossed this one is for holders
More bad news today. Fraud. It looks to be quite minor currently but will there be more to come. it means you can pick up shares for less than 20p this morning.
Will keep topping up 12,000 or 20,000 shares per day this stays at 24p or less for the next week. Then watch it ratchet up 2p /week as FCA announcements / plus more clarity is given.
Massive, massive overreaction!!! Opportunity to get in cheap to a superb company and share! The monies allocated to cover GAP, will now be put into Golf clubs, private schools and more bridging loans and in 7-8 months we will all look back in surprise! The FCA again badly handling things and announcements without clarity, strategy or a road map for dealing with it!!! The only way is up from Monday!!
Took a hit myself and sold at 24p with just a small holding left. The divi was the main attraction here and I have been averaging down because of the yield. If the divi is cut given how far it was falling even with a huge yield then I see no hope of a price recovery. I switched to Enog which I hope is not yet another value trap.
21p-25p soon after opening. The asset base is still strong. Oversold?
Didn't see that coming. Gonna be hammered today sadly. 50% drop?
Good results again, all things voted through. Plus another announcement of 3p divis for coming year, along with the 2p for this year on 19th Jan. A very well run company with a small work force but very solid client base and customers, expanding year on year. Hopefully 2024 will see growth and again increases in profits and more loans.
Nope. It's not surprising the share price is so weak when the basics like this aren't handled properly.
Any idea of ex D date and payment date. Searched high and low and cannot find anything from official source.