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Hayward Tyler Group Share Chat (HAYT)



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chanjael
Posts: 154
Opinion:No Opinion
Price:44.50
RE: SP
14 Jun '17
Flundra, firstly I'd like to thank you for taking the time to respond to my post and for recognising that my underwear supply is running worryingly low! Having digested your post I am going to stick around for a while. Something tells me that if I sell up after buying in at 42p on the very morning HAYT announced AVG's approach (more luck than judgment tbh) I may live to regret it. I sure hope so anyway!! Thanks again, much appreciated.
 
flundra
Posts: 665
Opinion:No Opinion
Price:44.00
RE: SP
14 Jun '17
I don't think that's right. I'd bet it's been sorted for months. The main reason for delay right now imo is AVG's presence on the scene, in fact that's probably driven the delay for the last few months they've been around. Prior to that it was about agreeing terms within the context of delayed orders, and before that over-optimism on both sides. You can reckon on a business with HAYT's recent approach and profile generally having term loan, RCF and overdraft facilities, and none of that's bad per se. Also RBS have never been less than supportive. I bet other lenders are queuing up to re-finance too.
EdGasket
Posts: 184
Opinion:No Opinion
Price:44.00
RE: SP
14 Jun '17
Well it is seemingly a problem to refinance because it keeps rolling over from one month to the next with RBS but a long-term solution has not yet been found.
flundra
Posts: 665
Opinion:No Opinion
Price:44.00
RE: SP
14 Jun '17
A: It would, but it’s not a problem to re-finance!

Gearing’s ok, bank is supportive, re-financing probably sorted anyway, order flow strong, receivables coming in, capex finished for now, no advantage in turning the debt to equity or credible source suggesting this, etc
EdGasket
Posts: 184
Opinion:No Opinion
Price:44.00
RE: SP
14 Jun '17
If they have a 2.4m short term debt which is a problem to refinance then why shouldn't an equity raise clear it?
flundra
Posts: 665
Opinion:No Opinion
Price:44.00
RE: SP
14 Jun '17
There's no reason to suppose the term loan will be cleared by an equity raise. I don't know where that suggestion originated, but it's silly imo.
EdGasket
Posts: 184
Opinion:No Opinion
Price:44.00
RE: SP
14 Jun '17
chanjael, if you sell now you will get little over 40p so you may as well hold unless desperate. Before any bid, the share price was 36p to 39p. If worse came to the worse then a rights issue would easily remove the 2.5m debt that keeps getting recycled. HAYT share cap is 25m so a rights to raise 2.5m or even 5m should not be a problem unless there has been an underlying deterioration that we know nothing about. I have seen several large sells go through, each for 30K shares at a little over 40p; does someone know something or is it a trader getting impatient?
flundra
Posts: 665
Opinion:No Opinion
Price:44.00
RE: SP
14 Jun '17
Good honest post from you there chanjael – your pain is clear for all to see, and I hate to think what state your undies are in now!! I recall you filled a pair the other week!!!

FWIW I still think this is a very strong share, and the best strategy atm is to let the AVG situation play out. We should know which way that’s going within 2 weeks, and any bid will be way over the current SP I’m sure. Even if AVG walk away, the future looks very bright.

No point repeating all the positives, but RHL’s news this morning points towards the nuclear sector continuing to improve too, and I’m sure HAYT will profit from that as well. A strengthening dollar helps too because dollar earnings are worth more when converted back to pounds, and the Fed are likely to raise interest rates again today.

The concern depressing the SP seems to surround the debt pile and banking facilities, although the gearing seems perfectly ok to me (and to HAYT and RBS too!!!), and the revised facilities (including the term loan) are no doubt in place and temporarily on ice pending the outcome of AVG’s interest. And I don’t think there’s been any talk of cutting the progressive dividend either.

Minor delays in booking orders have affected the figures in an exaggerated way imo, but crucially (and from a long term perspective) have not affected the underlying business.

The potential breach of financial covenants which follows all this is seemingly down to over-optimism from both HAYT and RBS, which both now recognize, and I’m sure has been sorted within the revised facilities.
Schrodingerscats
Posts: 88
Opinion:Hold
Price:43.50
Nail biters
13 Jun '17
If flundra is right, better a real share value than a preramped one. The average of your contest puts .7569 in the picture. Should a bid come in higher than that ed will be buying lots of beers and coffees.
chanjael
Posts: 154
Opinion:No Opinion
Price:43.50
SP
13 Jun '17
What a nightmare! Seems to me that HAYT board are clueless. Share price just falling and falling I can only imagine due to uncertainty amongst investors. No more contract wins announced, RBS situation on hold and T/O situation being dragged out. All of this suits AVG hugely and IMO HAYT board do not seem to be thinking remotely about those who have invested in their company! I am losing patience here, seriously close to cutting my loses - shame really, I thought this lot were better . . . my mistake!!!
graham-wales
Posts: 34,789
Opinion:No Opinion
Price:44.75
RE: HAYT
9 Jun '17
Think they already have a major advantage over competitors with their quality of workmanship. Weaker pound should help even more.
the_shareminator
Posts: 10,999
Opinion:No Opinion
Price:44.75
HAYT
9 Jun '17
Good points made Schrodingerscats and Vicmy, although until financial situation sorted I'm not convinced we will back up to the 70-80p range where we belong. I agree with the logic of increased orders now the GBP has fallen once more to this level.

BRSN are in a different league to us however the value is not so much discounted as it is here so I agree and in light of the election results, worthy of increasing my own holding today.

Despite missing forecasts the company did rebound late in the fourth quarter and FY results for the year ended 31 March 2017 should help to ease fears when they are released on the 28 June, or in 13 trading days time.

I'm hopeful the update on performance post-FY results will breathe new life into this share and send it back to the 50-60p range.
Schrodingerscats
Posts: 88
Opinion:Hold
Price:44.75
Exporter
9 Jun '17
Weaker pound = an exporter opportunity. Some contract wins would make sense.
Vicmy
Posts: 648
Opinion:Buy
Price:44.75
its worth
8 Jun '17
a small punt imo.

Look at berendsen (BRSN) share price after the announcement of the takeover/merger with the french corporation.

There has been steady buying all day with approximately 5.5 million shares bought today. Well done to all those in BRSN!!!

Lets hope the same happens here in the next few weeks (if not before) with HAYT.

GLA!!
flundra
Posts: 665
Opinion:No Opinion
Price:45.00
RE: AVG
8 Jun '17
If there is a successful paper bid, who here would keep AVG going forward?
I'll be selling up, not because I don't rate AVG, but because I'm in HAYT for its specific business focus, which would be lost on merger/takeover.
seadoc
Posts: 123
Opinion:No Opinion
Price:44.25
AVG
7 Jun '17
Been with AVG about 30 yrs (floated as Stainless Metalcraft). Let half go at 200p in tender offer. Could, should, have topped up at 190 but now holding HAYT as a potential for more shares as any offer from AVG will be paper. I think 60/40 there will be an accepted bid. If not I will have lost a few pounds. Nearly bought as few more HAYT today, any sellers want 40p? No, I thought not.

Regards,

Seadoc
graham-wales
Posts: 34,789
Opinion:No Opinion
Price:44.25
RE: Nail biters
7 Jun '17
Lol.
EdGasket
Posts: 184
Opinion:No Opinion
Price:44.25
RE: Nail biters
7 Jun '17
Not too happy with the sound of that idea gw!
graham-wales
Posts: 34,789
Opinion:No Opinion
Price:44.00
RE: Nail biters
7 Jun '17
As long as I get under Ed I'll be happy lol
Schrodingerscats
Posts: 88
Opinion:Hold
Price:44.00
Nail biters
7 Jun '17
Pre-election nerves or mm's in the orchard? You might get your 36p wish gw.
EdGasket
Posts: 184
Opinion:No Opinion
Price:45.50
RE: Back in @ 46.4p
6 Jun '17
No I was originally in under 40p before the bid with three tranches fro 37-39p; then since the bid been trading it from 45.6p-47.4p to the lower 50's. Reckon any bid/merger will be around 48p but before then it might well ramp up to the lower fifties again. Happy days.
graham-wales
Posts: 34,789
Opinion:No Opinion
Price:45.50
RE: Back in @ 46.4p
6 Jun '17
That's quite I was waiting for 36p lol
EdGasket
Posts: 184
Opinion:No Opinion
Price:45.50
Back in @ 46.4p
6 Jun '17
Bit better price than last time but then things are dragging out. Maybe I'll win the virtual champagne afer all; think mine was the lowest bid target at 48p.
Dino66
Posts: 2
Opinion:No Opinion
Price:45.50
RE: Strange
6 Jun '17
I am just happy my open limit order was filled below the limit I set ......... and it took over half the sell trade!
Dinoken
Posts: 515
Opinion:No Opinion
Price:45.50
RE: Strange
6 Jun '17
Well spotted. Must be very little stock around.




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