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Sold 60% of my holding- unrealistic bod imv.
Oddly this was on bloomberg news last night.
Greatly pleased that the Board continue to reject 'low ball' offers. Much prefer that the shareholders enjoy the run up to £2.5/3.0 over the next couple of years, rather than anyone else.
So an offer at £1.30 has been rejected and we will not engage in discussions - not happy about that. Once again management would rather hold onto their jobs than look after shareholders. I hope the bidder goes hostile. I would accpet any bid above £1,25 because our bod are arrogant and unrealistic imv.
Back into ftse 250.
Sp ticking up - expect offer around£1.35 shortly
Lets hope they pull out now and we get a quick buying window at 80p.
what a crazy share when you can double the number of RNSs in a day vs the chats on the BB.
I have been in here for about 4 years, when a colleague became the CEO and I backed him to grow my investment. As I averaged down right after the pandemic hit I'm now +150% but I still think this is undervalued and the Board should refuse the offer and keep driving the business in the way they have been. Of course, that would mean another couple of years before it gets to the £2.50 - £3 range which will not please some of the traders. Got no problem with the traders BTW, I don't have the energy to trade.
So a higher offer makes the sp drop.
A return to "normal" is a share price in the £3, especially as the debt will have been paid down by then and trading in these industries and products will have returned.
Nice spot on the offer.
Agree its a low ball and an easy rejection for the Board, but likely to help them redouble their efforts on Cost Management, Cash Management and Growth. Might enable them to restart the divi which would, in turn, help the sp.
Cheers
A low-ball offer. Easy to reject. Maybe will flush out higher offers.
Could well be. Its a stable business (in "normal" times) and the cash generation is very good with debt being paid down fast enough to the current circumstances. It was up to and over 2 pounds before people were spooked by the last acquisition and then the virus hit. Would be good to get back there now the debt has proved manageable.
Agreed. I wonder if we having a potential bid coming our way. Good cashflow and manageble debt, allied to strong long-term markets.
I like this sp direction. Glad I added after Covid hit, but I'm still hopeful to get back to the 300s like the past. Lots of faith in the management team here, and the CEO in particular.
What's happened today?
Debt reduction well underway and confident outlook - well done.
I've said it on this BB before, the management team are top notch and the CEO is both very smart and very operational. The costs savings measures are accelerating the debt reduction. The choice of things to buy was smart and margin positive as well as future thinking.
I'm here for the long run.
Good news..... one to hold and keep
Yes agree lovely rise today.
Well a superb rise this morning. Shame I did not dip back in again yesterday at 63p. But nice to see what I have left in this share rising well.
JEFFERIES RAISES ELEMENTIS TO 'BUY' ('HOLD') - TARGET 95 (75) PENCE
Cant argue with that but as my current average buy price on this share is 0p. I'm happy at any price.
Not invested here anymore, but yes, very harsh reaction considering that they reduced net debt by $55m.
I suppose the reaction is due to falling revenue due to COVID19 and further suspension of the dividend.
Still think that this company will flourish post covid19, with huge shareholder returns.
GLA.
I thought it felt harsh too. Had a little nibble at 60.6p, slightly holding my breath...
its a 100m swing