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Tickhilltim, I appreciate your contribution here. Even though the RNS says that they have no intention of making a bid, my hope is that they do. What would be so bad about that? I have bought shares in a company, had some capital appreciation, and some dividends, and then get to sell my stake and find another. What is the problem?
The other side of what you say, is that this vehicle Abicad (which I dont know anything about), may just understand the value of the company - having the inside man. I think most here would agree that the share price seems undervalued. I certainly plan to buy some, though it is not top priority compared to other shares due to the low yield.
Also, have you considered that he might have stepped up to buy the stake because a fund was forced to sell? Maybe he didnt actively seek to buy this lot? The alternative would be further suppression on the open market.
Its interesting what you post, as I am also a TIG holder (formerly CNIC). Very similar situation there (to my untrained eye), is it? Max Royde is a non executive director, but runs the Kestrel Partners LLP, they are nearly up at 29%.
A few links (as its hard to follow due to the ticker change)
https://teaminternet.com/board-of-directors/
https://www.lse.co.uk/rns/CNIC/directors-dealings-m5mbi08vkw0bfia.html
Finally, I did not understand the distinction that you made between a NED and a NE chairman, why does matter?
Asking genuine questions, hope it comes across like that.
PS, been in SRC, it has its own issues (buying earnings to meet BOD share incentives), but looks attractive currently.
I am relatively new to this board.I am concerned that recent contributors have not got to grips with the outrageous behaviour that is being supported by the Board at Bree.Why should you listen to me? I have been an NED on two listed funds boards.
Amateur idiot,get an education.Abicad bought shares not the chairman.
This is a bear- hug.The people buying shares have the benefit of inside info from their planted man.The LSE and FCa should not permit this insider abuse.But manipulative investors now how to smarm our feeble civil servants.Why should you care? Abicad will bid to take over the company within the next two years.DYOR .Do not believe a word anyone hiding behind behind a Limassol tax shelter.And SRC is a far better managed company in the sector.More DYOR.
And looks like Chairman bought £19m of shares today. Add that to the c.£50m acquired in the first half of the year.
Breedon not on AIM anymore.
Dartron,my point exactly.Huge fan of directors having a meaningful amount of their cash in shares.But cumulatively not enough to exercise meaningful control.The chairman will undoubtedly have detailed inside information and will be heavily involved in strategic decisions.It has to be a conflict when Abicad are buying shares.Where does his primary responsibility lie? This sort of conflict is unfortunately a feature of aim shares but Breedon has grown out of that.NED on the board at 29% is reasonable but not a non-exec chairman,in my opinion.
Probably less exciting because he rules out a take over in the RNS.
Yes, ownership by directors or non execs is a very good thing - as long as it remains a minority stake, less than 30%. If the people making decisions and spending money have bought shares like you and me, our aims are aligned. It is only bad, when these people own more than 50%, because they could then win any vote in the company. Look at IBPO delisting recently, with the owner at 70% there he can and did do what he wanted. Breedon is a quality outfit, if Abicad wants to increase his stake that is a very good thing.
What we do know is Abicad has spend c.£52m on buying up shares so far this year. RNS is announcing intention for Abicad to buy more.
When other boards are full of posters getting very excited about a company they are invested in when a director spends £20k on buying shares, this surely is a major positive. Although it seems to be generally missed by the media so has gone virtually unnoticed.
You're concerned that the board has skin in the game? The opposite to this is normally a major concern to shareholders when directors have no or small holdings in the companies they run
Abicad Holding Limited confirms intention to acquire additional shares of Breedon Group plc - no details.
It seems odd to me that a company with only a 15% holding is allowed to have one of its people as non- exec chairman.Surely this is a conflict? How can he act independently when Abicad may have a different agenda to what is in the best interests of the majority of shareholders?
It will be interesting what reaction there will be to the decision on HS2
If they cancel the northern section tomorrow as appears to be the prediction companies will need to look at projected sales and outputs unless there is an alternative proposal
I’m guessing if it is cancelled and not replaced with some upgrading of the existing network there will be spare capacity and an effect on aggregate /concrete prices
My friend works at one of there asphalt plants and says things are quiet, but i think this is generally the same in other asphalt and concrete plants.
Anyone attend the site visit at Wickwar today and get a sense of how trading is going?
Going from AIM to main market normally means a positive for the share price but very subdued at present. Can’t all be to do with economic activity.
Daz
Frankly no idea
Very quiet here no news no info no nothing
Sure there is better value elsewhere
G l a
Dreadful isn’t it. When exactly is the next interim dividend?
Am I missing something here ? 66p in old money
Performance since leaving aim very poor
What’s going on?
About time we heard something?
Or 20p per share in today's format.
This is a joke now, we’re back to equivalent of 68p pre consolidation, no growth or value at all in years
Still cant find August mentioned anywhere, i`m sure it`s usually more later
Whoops ! I meant late this month. AUGUST - hence sooooon !
Just a guess their ex div date is late Sept. I'm going by their previous gen that's on HL.
Yea seen this bit but the date you gave where is that?
From the interim results RNS 26th July
Dividend
"The Board regularly reviews capital allocation scenarios, balancing capital investment and M&A with reducing debt and returning cash to shareholders, while prioritising profitable growth and ROIC. As a consequence of our strong financial performance, the Board intend to pay an interim dividend of 4.0p (H1 2022 restated: 3.5p), an increase of 14% and significantly ahead of earnings. This reflects our confidence in the prospects of the Group and is in keeping with our progressive dividend policy. The dividend timetable will be published in due course."
Hi where is this info, I can’t find the dates for this interim dividend anywhere? I’m hearing USA rumours too?