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So glad that Schroders locked into paying a high and inflated price for that part of the business it purchased. Shame the rump wasn’t sold for cash but instead handed to AssetCo in return for ropey paper. Ho hum.
Thank you Norma.
It’s all going through. You’ll get a bit of cash for part of your shares and a handful of AssetCo shares for the rest. Ridiculously complicated deal that takes care of the old and new management first and foremost, throws a few coins at shareholders and the remaining staff in a state of limbo. An awful, self-serving set of transactions…
What out come is expected? Or hoped for?
Thanks in advance.
Thank you for confirming my suspicions, NormaStits. Let us hope that the shares turn out to be easily tradable and worthwhile!
Yes. Vested interests at work all over these deals. At least you get the Schroders cash out soon. Business was a busted flush before that sale, but at least the management have lined their pockets during the process eh? The shares you then receive in AssetCo are yours to do what you will…
Are we being sold 'down the river'?!
Return of capital gone ex divi
What’s happened here?
Thanks Normastits.
Based on what Martin has paid suggests the RIV share price should be north of £3.
Anyway, will wait and see what develops.
a slug of the Schroders cash comes to you as a RIV shareholder. Will take a few weeks and be about GBP2.20 per share. You then get a few shares in AssetCo in return for RIV shares and join in Martin's acquisition trail. Or you can sell them in open market.
So, Schroders has bought a large slug of RIV for £200 + million.
The rump now goes to Asset Co, Gilbert's vehicle for £98.8 million.
Nothing left to sell!
Why should I hold the shares? What else is going to move them up?
Where does the Schroders money go?
Perhaps Forensic can give me a clue?
...and the share price falls as the froth fades...
Good to see
Out of interest, which members of the Board do you regard as "top management"? The 3 day rise is due to Assetco buying a stake off Punter Southall and a bit of post-Gilbert news froth. Fundamentals are no different from a month ago?
This has been highly undervalued for a long time now. They had to seriously address the executive board but that has been done now. So great model, with a top management team now in place. Rise today confirms my analysis so I have doubled my investment. This should be back up to 350p in short order. DYOR as ever.
Looks like I called this right for once ??
I like the addition of Gilbert a lot and they have got rid of some of the nutters. I am back in. Big 2.5m buy today as well I see. Interesting times potentially.....
Good top line results but problem with this company is that the Board and Senior Management milk it to death. Very telling that one of their top investment team sold all his shares a long time ago.
Very good.. so undervalued.
CF gives a buy with a target price of 304
A positive RNS followed by a positive SP move. Always welcome to the PI when events happen in that order. So far, so good. (Just seeing if there is anyone out there.)