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However after a quick Google of railsr I would hope equals stays well clear. Looks like they are a company looking for a buyer probably because the Private equity funders are fed up piling in cash.
Interesting indeed, could be getting to crunch time
Nice to see a little trading update. 28% growth rate is amazing and if it continues as the board expects will see well north of 100mil revenue this year.
Rns reads well as though the board want to put too rest any concerns about the strategic review affecting the ongoing running of the business too.
Thats the most important aspect, deal or no deal
Continuing strength in trading. After all this time I think there will be an offer. Maybe not a winning one. Not completely clear about the wisdom of putting it up for sale. Good promotion for business ?
Possibly levantic but that is good for us shareholders.
We are now seeing very solid numbers for this FY and if MDP want to do a deal it will need to reflect this and should be well north of 160p
I had a suspicion all along that they were waiting for the full year results before making a decision.Chinese water torture!
Extension expected. I would not expect any deal to be in line with this expiry date
Yes Oakham per below….
In the light of this request, an extension has been granted by the Panel and, in accordance with Rule 2.6(a) of the Code, Madison Dearborn Partners LLC is required, by not later than 5.00 pm on 20 March 2024
Last couple of times it’s been a 7am RNS, I just want a decision either way.
Hi,
Is the deadline 5 pm tomorrow? When do people expect to see an update …
Appears to be a little positive movement in the shares today. Could we be edging to a conclusion?
Just hoping it’s sorted either way this time. Another months extension would it to the results. Still looking forward to 1 month today (well sometime that week).
Had some bad advice from advisors for sure. Going out asking if someone wants to buy is never a good idea. I strongly believe shares would be much higher now if strategic review hadn't happened in the first place. But here we are. Just a waiting game now. Would be nice to get a bid for some quick cash but would also be happy if nothing materialised as long term company has some bright prospects
Adding to last post.
Our SP hit 121p on 20th Sept shortly after the interim results from last FY.
We are now around 106p with a supposed possible bid / takeover being discussed. It seems to me if the strategic review was supposed to realise value for us shareholders it isnt going great right now.
It was 1st Nov 23 when the Company first advised of the Strategic Review and made this statment;
The Board of Equals Group plc ("Equals" or the "Company") (AIM: EQLS) notes the recent market speculation, and confirms that it is conducting a review of the Company's strategic options (the "Strategic Review"). As part of this process, the Company has contacted a limited number of potential counterparties including Fleetcor Europe Limited and Madison Dearborn Partners, LLC to assess whether such parties could put forward a proposal that would deliver greater value to Equals' shareholders than pursuing a standalone independent strategy. Any such proposal could include an offer for the entire issued and to be issued share capital of the Company.
So it is clear the we approached Fleetcor and Madison to basically see if they were interested in doing some kind of deal with us to release value. Most here will know how bullish IST and RC have been on the Companies prospects particulary wrt the European expansion. It seems very likely that our BOD were pushed by some of our biggest Institutional holders to do this strategic review and I believe unlikely to be an initiative our BOD would have wanted.
I guess given 'we' instigated the discussions with Madison (Fleetcor were not interested) then 'we' (EQLS) have to give the discussions every chance of succeeding. I would hope that our management team are cracking on with the Equals Money Europe work and that we get some detail (and hopefully increased numbers) on this early April. This is AIMHO and DYOR.
It’s about time they ditched these company trying to sell I wonder it management are being promises lucrative job and bonuses to keep falling for this long winded so called offer.They want to wake up if they wanted us they would. Made offer by know
After 5 months this is a somewhat distraction for the business, employees and the market…
Let’s hope after 5 months let’s hope they can offer direction, my concern is that we see another delay until year end is published…
Would be nice was thinking around 1.60-1.80 for an offer would be realistic but who knows
I think we will hear about bid this month thinking about 1.70 ish
Seems to be drifting down a bit at the moment. Results are still month away. So maybe good time to top up. In the mean time it's just a waiting game to see if a bid materialises.
I agree, this needs putting to bed now. I did look forward the updates and Ian doing his rounds. This is one company the you could rely on. Oh well not long no, hopefully it’s not extended again.
Or lack of is impacting the SP IMO. Sooner this is sorted one way or the other, the better
Not sure if the current situation is impacting the news flow.....any thoughts
Yes fresh. You timed your comment well as SP has picked up towards the close.
Be nice if we heard positive news soon