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Not sure we would get a better offer now as Darby has made the company worse since the offer. He has turned PFD to a prostitute being exploited by Nissin while issuing fresh bonds at high rates. Pension deficit is all but static at very high levels considering deteriorating sales. AIM listed Finsbury foods is doing a lot better with less excuse.
Darby would be forced out by a hostile offer soon but way too late as the thief has stolen all those free shares along with his gang. Oasis can screw him up big time, Nissin is a joke.......with all that BOJ Q.E they still haven�t made us that 62p offer they gave their hedgefund friends.
and I have been one of the few who saw the early signs of poor management and under delivery, even with the darby lovers trying to talk things up. Although this is a dog and will continue to be one under current useless management who have just seen this as a way of lining up their pockets and their friends pockets, at the same time destroying value year after year. We may get a short term bounce due to weather, the management will be happy to take credit. Long term if this stays under same management, then expect a call for a rights issue to reset debt to earning ratio which is now more then before last rights issue. A takeover at even 45p is going to look good exit and the best we may get before the next set of bad results.
I've been tempted to sell at a loss. The only 2 reasons why I am holding are: From Nov 2011 to April 2012 the SP went from 3p to 18p and analysts suggested it could hit 30p. With PF "little things go a long way" this company is in much better shape now then it was then. Secondly from June 2013 to Oct 2013 the SP went from 60p to �1.85 driven only by a small increase in sales. Did the MM's drive the SP up to get a rights issue through? It is indeed the MM's that control this share, we are small fish. No reason why a private equity outfit will not work with Oasis and cause Nissin to either buy Batchelors or top up to 29.9%.
I have *****d up with this share. Looking back, the signs were there but I and most of you fell for the recovery hope of this company. There are massive debts, the products are out of date and then there is the pension liability. Can anyone give me a bit of hope?
Again, why pay a premium? You can all try inflate the price as much as you like in your heads, but right here , right now, that aint happening....
could explain the trading pattern and recent news flow. The share price has been driven down, possibly be agents of a potential bidder. The lower the share price goes more chance of a bid being accepted at a low value, the bidder will initially offer a 30% premium say, if share price down to 35p, then a 30% premium will get a bid for 47p. If the share price left where it was about 6 weeks ago, then an initial bid would need to be much higher. Oasis may have already been approached to buy their 8.8%, then nissin would get bachelors for there 20% stake, gores gets hovis for an undisclosed amount. Darby may take cake business private. Everyone then lives happily ever after. The best we can hope for is a final bid for 65p, but likely to be around 50p
If Oasis get ''aggressive'' the only way Nissin can ''defend themselves'' is to build upto 29.9% that should take the SP beyond 65p. The other scenario could be Oasis are acting at the instigation of another bidder, possibly even the likes of Bright Foods.
In exchange for the place in the boardroom, the activist agreed to build its stake up to 10pc by the end of June, and to keep a holding of between 7pc and 15pc of Premier longer term. This deal will be terminated next Friday, the two companies announced yesterday. Analysts at Jefferies said: �Oasis� future intentions are unclear to us, but might embrace either a review of their ownership position or a more aggressively activist stance.� I like the aggressive bit !!
Now that�s how you sack a value depressing board. McCormick could have done the same thing with their offer. They would have more than 70% acceptance easily.
Or, simply dump the stock and move on... Everyone on here is waiting for a premium bid. But, realistically , with a huge pension liability and a dominant shareholder on board is that ever going to happen? I'm not so sure. Nissin effectively have secured a seat on the board, and have visibility going forward. They also have secured themselves fa strong position should they wish to entertain acquiring the Batchelors brand. Premier for McCormick was small fry in the grand scheme of things. I'm sure as the market comes under increasing pressure, that there are bigger fish to fry...
Can't see them selling at a loss. As I said on this BB only last week, ''what are Oasis getting out of it?'' Now we know, they are getting nothing!!! If I am right they being ''active investors'' they must have tried to invest in a brand and Nissin may have ''thrown a spanner in the works''? They hold 9% of the company I think, who knows they may sell the lot to Mc Cormick!!!
interesting to see they have already removed his details from the non-executive directors list. https://www.premierfoods.co.uk/about/leadership The site was down late afternoon, so must been when they did it, so not amicable separation. oasis never got upto 10%, so not going to increase.
Initially at least, market seems to have reacted positively to news. Hopefully writing is now on the wall for Darby and Co. We've had highly paid complacency for too long now.
surprised he was allowed to buy in a closed period. Also very suspicions his trade was after market manipulation to walk the share price down to 37.4p. The company played it's part to ensure good news not released. Wonder what he will say if fca ask, "honest gov darby never tells me anything".
can only be a super villain for so long until the long arm of the law catches up with their bad deeds.
will they now become activist as they should be and force changes to extract shareholder value. surprised it took this long for them to realise how useless darby is. Interesting to see if they side with nissin to sell batchelors to them. Darby's days are numbered.
Obviously didn�t like what they found - Derby ? If they sell their 10% at these prices, they will be looking at a hefty loss.
Keith Hamill, non-executive Chairman, acquired 266,666 Shares on the morning of 28 March 2018
He�s enjoying tormenting us tiny guys here...........I need to stick with ETFs.
NM
Hardly filling their boots.... This stock is infuriating!! ..and a stack of sh*te....
See the snouts are at the trough again. The only consolation I suppose is that the directors aren't expecting the SP to go below 34p. Or will they sell them tomorrow for a small profit?
and the worrying thing about it is there is very little volume. You could hold your hands up and say with high volume, that someone is stakebuilding, but that clearly cannot be happening. We know by June Oasis need to be at 10% and a max of 15%,, at this rate, they will be buying at 30p.
52 week low is the next target and looks like is about to be cracked, once breached, then it could be very quick to 30p