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Director Buys - Another massive vote of confidence by our board in acquiring shares from a long standing holder who continues to hold 6% + of the company and bought into this company at many multiples less than they were sold for. The most recent acquisition will make a significant increase in their operating profit and will reflect well on their strategies imo.
Well done. Do like the doubling of operating profits by end 2017. Cash pot to acquire too. What's not to like. Pontil
Now we know who the buyer continues to be. That's great news. IMO
Pontil - that's always good to hear. This must be one of the most under the radar stocks I've ever invested in!
Dear Boom, My broker was approached today asking if any of their clients wanted to sell any FEN as they had buyers!, Bullbearing report reads well. Happy days. Pontil
http://www.bullbearings.co.uk/traders.views.php?gid=1&id=880
Looks to me like Brooks McDonald need to get their finger out and make a bid. Interesting company FCFM Group. http://fcfmgroup.com/pdfs/Fcfundmanagers-AR(Year-End-March-2015).pdf
Dear Boom, this is a great play, Presently FEN pass value to other players which with this acquisition they will be able to retain in house and hence boost GP. What is unclear in the RNS is the size of FIMS ( Funds ) now under FEN control with the acquisition. Previously circa £640M....how much closer are we to the £1Bn prize? IMO. Pontil
pontil, thanks for that. Have just tucked this stock away and very rarely check it so didn't even notice the rise yesterday! I agree with your last paragraph and they are very clearly building to maximise revenue. We shall see!
Boom, I had a look at it yesterday having noticed the price was up. I think it is just a continuation of good results and it shows they have a growth plan. If they can bring in circa £100mil pa of new business in 2017 then it becomes worth a lot of money. Anyone looking to take it over would be looking two years ahead to see what is in the pipeline and so their current plan should increase what anyone is willing to pay. Imo dyor
Hmmmm - some movement!! Interesting rise with no trades yet reported.
http://www.investegate.co.uk/frenkel-topping-grp--fen-/rns/interim-results/201507130700077970S/
Great to see increase to £640M....investment in business development paying off. IMO
Not bad, new business acquisition not as good as expected.
Sorry, only just seen your last post! Thanks for the info. It's going to be very interesting to see how things develop. I must admit that part of the reason I bought in was the possibility that they would become a prime takeover target.
Boom, sorry I should've commented earlier. The earn out the directors have is a % of the total sale price and of course rises as the offer increases too. An interesting dynamic. The extra value by being taken over exists in the release of fees for the management of the £600M FUMs and consolidation of back office costs. With 99% clients retention they's be mad to touch the front of shop and professional service offered. Either way we either see a rising dividend payout or someone will want them. IMO.
Yes all gradually becoming clear. As you say though it would be good to find out who took the 1.8m
So it was old man Frenkel who has sold. Who bought the other 1.8M? If a new investor, 1.8M just below notifiable 3%. We'll see.
Hope you're right (SCLP), but it will come eventually whether it's sooner or later IMO.
Boom, their structured settlements business is why I invested in FEN when they first floated. I remember the share price tanking in 2009 and thought well here is a chance to get in at/near the initial float price so doubled up. A few of my network have invested too and are all sitting on great profits. As I said a great company. I see we also share an interest in SCLP. Not long there too. All IMO.
Perhaps positioning themselves as a possible takeover target? Used to underwrite structured settlements a few years ago, a very complicated area but large numbers involved (£) and sadly a growing market.
Thanks. Helium has been the buyer here for quite a time now. FEN will start to shed more cash to us Shareholders however I'm certain Helium have a far greater capital growth expectation of FEN than it's present share price. The Directors too will need the price to increase for their earn out. :-) IMO
5% not 50% - now that would be interesting lol!
I don't think the 1.2m and 1.8m were sells - look at the timings. First the 3.1m were sold then 1.2m were bought by Helium (effectively an outright transfer as same price) and then 1.8 m have been bought by someone. The 100k are still unaccounted for. So roughly 50% has changed hands. We haven't had an RNS for the 3.1m sale yet - is that perhaps because there may be more to come or just simply haven't reported it yet? Take your pick who it was lol! http://www.frenkeltopping.co.uk/investors/company-information/