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Hayward Tyler Group Share Chat (HAYT)


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the_shareminator
Posts: 10,731
Off Topic
Opinion:No Opinion
Price:48.50
RE: Top management has let us down
30 Jun '17
"During the past year the great future potential of our existing business was badly compromised by all of poor financial management, vastly over optimistic revenue & profit projects from our BOD, followed by major failure to convert heralded order pipeline in a timely manner, and compounded by very dilatory reporting of changed circumstances."

I'm with you there poole, it's just such an insult to shareholders who have held or added throughout. Will you vote against the offer?

I expect shareholders of AVG to vote in favour as they are getting the bargain of the decade! We should be sitting much higher on a better offer than the one proposed however it's not over yet.

Quick breakdown of declared holders here

9,130,766 ___ (16.48%) - Directors of HAYT and relatives of ELB
9,000,000 ___ (16.25%) - HARWOOD CAPITAL LLP
3,680,000 ___ (6.6%) - Richard Edgar Sneller
3,609,538 ___ (6.51%) - Henderson
1,356,798 ___ (2.45%) - Unicorn Asset Management Limited
900,000 ___ (1.62%) - Dion Greville Stewart
738,000 ___ (1.33%) - STOCKINVEST LIMITED
668,248 ___ (1.21%) - Chris Hazell
650,000 ___ (1.17%) - NVM Private Equity LLP
641,360 ___ (1.16%) - Killik & Co LLP
600,000 ___ (1.08%) - Neil John Murphy
8,925 ___ (0.0161%) - HARGREAVE HALE LIMITED for "Discretionary Clients"

Together the holdings declared comprise more than 55.8% of the shares in issue. We know of the Directors Maurice Critchley has neither agreed to support or declared an intention to support the merger. So even if all declared holders were moving in favour (which is not by any means guaranteed there is still a majority unknown at this point. The question of why MC has abstained support at this stage should give us hope that he is considering launching a counter offer.

Last point, the large holders sitting on losses will know their AVG share replacements at 51p equivalent will be less likely to regain the value we've seen recently once this is trading as an enlarged entity. Although the risk decreases, so too does the growth given AVG's static trading (remember HAYT growth is stronger if you strip out the first half). If someone here can convince me to vote in favour please do, I would like to hear this argument as I've just about had it with ELB. By supporting this merger he has already thrown his lot in, a total waste of space.

Breakdown of the Directors and relatives
Ewan Lloyd-Baker - 4,233,959 (7.64%)
Nicholas Flanagan - 384,333 (0.69%)
John May - 41,963 (0.08%)
Maurice Critchley - 4,168,131 (7.53%)
Tristan and Sarah Lloyd-Baker - 167,290 (0.30%)
Royston and Maureen Lloyd-Baker - 135,090 (0.24%)

TOTAL: 9,130,766 16.48%
 
EdGasket
Posts: 156
Off Topic
Opinion:No Opinion
Price:48.50
RE: COMP
30 Jun '17
Hang on a minute!
4.755 HAYT for 1 AVG. AVG current offer price = 230p. 230p / 4.755 = 48.37p bid and therefore I claim myself to be the winner having predicted 48p

Well done Ed :)
Howard05
Posts: 159
Off Topic
Opinion:No Opinion
Price:48.50
RE: Bid
30 Jun '17
I am happy to take avg shares as bought in to get avg at a discount .Would of liked better terms in respect of more avg shares for ours But avg very good at building businesses and then selling on Just like Melrose but much smaller scale
EdGasket
Posts: 156
Off Topic
Opinion:No Opinion
Price:48.50
RE: Bid
30 Jun '17
Yes there is, announced at 08:04 agreed takeover in AVG shares value 47p - 51p:

http://www.moneyam.com/action/news/showArticle?id=5576828
graham-wales
Posts: 31,887
Off Topic
Opinion:No Opinion
Price:48.50
RE: Updates
30 Jun '17
If AVG are prepared to pay 47p then get a placing done for 45p with sufficient funds to see them through to profit. I'm sure they will get plenty of takers at that low price.
poole
Posts: 22
Off Topic
Opinion:No Opinion
Price:48.50
Top management has let us down
30 Jun '17
A sad situation for HAYT albeit looks a good deal for AVG. During the past year the great future potential of our existing business was badly compromised by all of poor financial management, vastly over optimistic revenue & profit projects from our BOD, followed by major failure to convert heralded order pipeline in a timely manner, and compounded by very dilatory reporting of changed circumstances. Looking ahead we can probably expect a year of transition before the combination of HAYT & AVG are able to begin to show their real potential in 2018 . Hopefully the market will anticipate that and give support to the AVG share price. Roughly speaking for 'remainers' 5p on the AVG share price is worth 1p on each HAYT share.
the_shareminator
Posts: 10,731
Off Topic
Opinion:No Opinion
Price:48.50
RE: Updates
30 Jun '17
I think to properly value this company there has to be future trading figures provided in guidance. The second half performance was actually decent. The first half of this financial year will likely be profitable and growth of the orderbook and revenues maintained. If we had addressed financing and not delayed it might we be sitting in a stronger position? I do blame the Board for dragging their heels and royally c*cking this up. But the die has not been cast, vote against and let this company dig deeper and solve the short term liquidity issue. Rebuild shareholder value with growth and a much more profitable year ahead. Looking further out we should be entertaining £1 share again. I say again, shame on the Board of Directors.
graham-wales
Posts: 31,887
Off Topic
Opinion:No Opinion
Price:48.50
RE: Bid
30 Jun '17
Well there is no announcement from HAYT regarding the offer.
dannatt
Posts: 13
Off Topic
Opinion:No Opinion
Price:48.50
Bid
30 Jun '17
Counter offer possible with MC involved .Any thoughts.
graham-wales
Posts: 31,887
Off Topic
Opinion:No Opinion
Price:48.50
RE: Maurice Critchley
30 Jun '17
Hopefully it will get rejected and a placing take place to cover the short term loan and future working capital.




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