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Brady has an enviable market position.
Well can sell 500k for 9.55p.
Lord knows whats going on
Ask being loaded - not a great sign as looks like one ii may be happy with it - there again, I'm sure we are going to get a few strange trades
Another 250k just gone through at 9.7.
A bidder with synergies is so impt as if operations are absorbed with little fixed overhead increase, your 60% gross profit on recurring income becomes net profit.
Do a p/e on that scenario!
Competitors know this - its a one off opp.
Cause there was 250k on the ask for 9.75p and someone wanted more so uncrossed at 275k
Whatever happens, I hope you do well here either way.
Depends upon how pro-active the iis want to be.
They would win breach of fiduciary cases against the BOD if a higher offer came in - it would be obvious it was blocked to save their jobs. So they could destroy the BOD.
Comes down to do they want a quiet life or get peed off. -whatever, it will be very interesting.
Anyway, pointless continuing - everyone has to take their own view
I agree that the company is worth more than the offer. The problem I have is that the board have obviously manufactured this situation IMO. The board are obviously going to threaten shareholders that they will take this over a cliff from now on the 15th November if they don't take the 10p offer. It doesn't matter what funds are in deep here because they don't have any executive power. They can club together and offer to give the company a few million for free if they like, but I'm sure the board wouldn't accept it because they want the company in this situation. Everything here has been done by design IMO and I think it's too late to stop them getting their way now.
should read from the annual accounts
So Hanover have said they will increase the offer if another bidder comes in. [so admitting its worth more than 10p without synergies]. From
1] A look at the revenue explains why - 70% recurring and 15% licence fees - best type of rev to maintain your mcap.
2] Gross margin - 60% - oooh, lovely.
3] EBITDA £2.6m - not bad.
Business is very scalable - very good for bidder in same business - as is all of the above.
Interesting is I cannot find any info on Directors emoluments in the final accounts but interims had £8m total salaries for 6 months so £16m. Think of the directors costs that could be saved - £3m? More?
Carmen Carey joined the Company as CEO in February - ummmh.
So £8,4m is a derisory offer and Hanover knows it - as do the BOD
I did hold here a little while ago from 4p to just over 7p. Not now though, just sitting on the sidelines. I just find the argument that people who are 200%+ in profit selling a shade below 10p are somehow crazy a little irksome. I mean they're massively in profit ffs, so why not sell and make hay elsewhere now. Not saying there won't be a counter offer, but it isn't likely at this point I don't think.
Always winning do you hold shares here?
I suppose people who are already 200% up aren't bothered with any potential risk/reward of holding another month. 10p looks like the most likely outcome here IMO, so for the sake of 5% or so is it worth them holding. What if the worst happened and the deal didn't go through? I can see why people are gambling here, but I can also see why people in profit are now selling. There's a lot more than 5% to be made elsewhere over the next month with the profit they've made. That's their reasoning I imagine.
seem to have missed the case here.
Most problems with shares is determining what the right value is - which is why many duffers overshoot based on hype and twitter etc.
Here, someone has done due diligence for us, committed to a min of 10p and will increase it if another party pops up i.e it is worth more than 10p. All to be resolved in less than 30 days.
And someone sells 136k at 9.2p - giving Hanover [or me] £1,088 .
Nice one Jimzi
Got some more sb at 9.32 - [50k]
7% interest for a month and a free lucky dip ticket. Cheers sellers.
https://www.lse.co.uk/rns/BRY/form-83-brady-plc-zs4rikcah9e9ft9.html
Yea one that is reasonable.
few more investors need to declare will be interesting.
And the bid is rising again these punters are mad
max buy 250k at 9.88.
Will take 500k above the bid - suprise.
Actually forget that I was looking at an old shareholders list
Kestrel have bought more https://www.lse.co.uk/rns/BRY/form-83-brady-plc-q4azvc2fh72vjpg.html
can you keep bry in the header please