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Zak7795 you sadly fail to recognise that at any point in time mm’s will hold shares.
Lol, the RNS today only mentions Canaccord becoming sole broker and Nomad. I didn't think the market would be that excited by this news!
It’s not a sign that a sale is going through!
ST of Investors Chronicle has also reported that Downing Micro Cap Investment Trust is going for an orderly wind up, to return capital to s/hs. Sorry to see this go, some decent companies in the trust, including Equals. More info, see their website, ticker DSM.
Interim results statements set out their reasons - low valuations of smaller companies, discount in sp of trust, long term mis-management of economy and society by governments / policy makers over the last 10 - 15 years! A grim read, they don't hold any punches back!
https://assets-global.website-files.com/6424344d8e0d4156b939a474/654cb6c86f6d2d3e8ee12a99_DSM3114_Downing_Strategic_Micro-Cap_Investment_Trust_Report_Half-yearly_Aug_2023.pdf
Chrisbish......I was being sarcastic.....u do realise that with every buyer there is a seller right. So ur comment was pointless
The Declaration of a dividend is a positive step and shows confidence. I hope they don’t get sold, it is my largest holding and it is always challenging to find a replacement investment. I can see Equals eventually being bought but it will be worth a lot more in a few years time.
Zak7795 you need to go to Specsavers, I said buy not sell.
This mornings RNS, I hope is just the start, that’s if it’s not sold of course!
Equals Group PLC (AIM:EQLS), the fintech payments group focused on the Enterprise and SME marketplace, is pleased to announce that further to the announcements on 12 September 2023 and 1 November 2023 regarding the proposed reduction in share premium account, the Board is pleased to declare a maiden interim dividend of 0.5 pence per share. Furthermore, it expects that, subject to shareholder approval, the final dividend for the 2023 financial year will be 1.0 pence per share, giving a total dividend of 1.5 pence for 2023.
Https://www.investorschronicle.co.uk/ideas/2023/11/08/equals-offers-opportunity-for-50-upside/
GLA
Chrisbish.....you could say "a significant sell of 250k took place today. A sizeable trade. Watch this space. For every buyer there is a seller my friend
Over £500K been bought in 3 hits this afternoon, someone is stocking up
A significant purchase of 250000 shares took place today. A sizeable trade. watch this space!
“ Fleetcor confirms that it has been contacted by Equals Group to assess whether it wishes to make an offer for the entire issued and to be issued share capital of Equals Group. Fleetcor announces that it does not intend to make such an offer for Equals Group.”
Let’s not loose sight of the announcement of the court approval of 25 million capital reduction on the the same day as the announcement of a strategic review. They now have a green light for the maiden dividend payment of approx 2.8 million leaving ‘distributable reserves’ of just over 22 million. As stated by the company there are various possibilities including buybacks and acquisitions. This requires careful consideration in the light of takeover fever gripping many UK companies. A methodical approach by the board seems a sensible course of action and flushing out possible suitors is part of the process to determine how the company proceeds in relation to the sizeable distributable reserves released. The current takeover market frenzy is hardly the responsibility of directors. They are merely directing the business of the company in its best interest.
As I thought would happen.....shares are down nearly 7% today. By announcing what they did, it's almost as if someone wanted to make a quick killing, before reverting back to business as usual. Cynical me!
Morbox....the company have tried to sell themselves coz Pembar want out. I think that's pretty clear to read between the lines. Equals has taken 4yrs to get back above £1 and they want out. Let's hope someone wants to pay 160p
ShareNicelyNow....u have read the statement right?
ShareNicelyNow.....Stop saying people have approached them. No one has approached them. Equals have gone to them and within 24hrs one has already said "no thanks"
Morbox. Know how you feel about Justin. Not great delivery, stuttering about all over the place. I have sort of got used to him now. He is pretty shrewd too. They all absolutely love talking shares and get genuinely excited. Makes for better listening than some of the quieter dead pan commentators.
Paul knows this company better than anyone. Although he admits not to have had any conversation with board, and these are strictly his own views, sounds like interested parties have been circling for a few months and therefore forced their hand to RNS. I’ve no doubt in my mind who the top fx company is withe the most desired technology. My money is that they will stay independent. The share structure suggests ownership is pretty wide spread, so unless the bid goes hostile it will be hard to get agreement for anything but top dollar. Dollar being the operative word. Paul mentions companies such as Paypal possibly getting interested. Their shares have been on a long slide, so can see this would be a great fit towards helping restore their fortunes . I see naked trader added recently although not massively yet. I re listened to the results interview early September and sounds like they have good projection into 2028 and no doubt. That will improve from there. Just amazed this has been dawdling around pound land for so long, as are many institutions across the pond. Gl
Cheers SNN, add a quick flip through, Paul is great but can’t listen to Justin. As Paul stated he trusts the management to do the right thing, I also do. As I’ve said on any occasions this company is one that your happy to hold and look forward to updates, you can’t say that about many.
Have a good weekend.
Https://www.youtube.com/watch?v=ROFKJg6vc6I&t=32s
Equals discussed at various points throughout. PH's opinion almost exactly as mine - more than two suiters had approached them first over the preceding few months. They want the platform, therefore, will have to pay for the platform, over and above the current earnings. The board is simply doing its job in safeguarding the interests of all stakeholders.
Sorry hadn't finished. As stated before, personally I would probably prefer for the company to stay as is at the moment and grow (unless a big premium is paid but I doubt it, if any is offered). This review has come out of the blue and my question is where has it come from, major shareholders? SNN has summed it up well. Happy if it drops I'll just add. Nearly on free ride anyway!
I can read.
Just an opinion Morbox, not wisdom. As the statement says "the company contacted a limited number of counterparties" no one came to them.