Agreed, perhaps this was orchestrated weeks in advance of the offer given the number of 'shareholders' call them what you will, who intend to vote in favour of this deal. Christopher Mills, non-executive director of Essenden is a director of the Harwood Funds and a director and the sole shareholder of Harwood Capital Management Limited which is the controller of Harwood Capital (the investment manager and/or adviser of the Harwood Funds) and a director of both IBE and IBA, and will no doubt… Read More
very disappointing outcome. I can't even sell my holding at close to 80p. Might just have to wait for this to go through and get the cash that way and save on dealing costs. My average is 69p so I make a profit, but I bought into this thinking it had a great future and with more growth to come. Shame!
Oops spoke too soon! Still likely to see an offer at a premium to current £40m price tag. With revenues of £50m, cash generation after tax of around £4m per annum and room for organic growth, efficiency savings and further acquisitions this is only going to be snapped up. Blinking cheap but nobody here knows it... except for those funds buying in last month
10 days to go before deadline for a deal to be announced. This is one tight ship. Hardly any SP movement at all since the approach was first announced. I'm hoping for £1, or would far rather the bid was rejected and management got back to building the business
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