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Thanks Barco David, I can only hope and believe that you are the one and only David (Radcliffe), it would be great if you were. In any event can only agree that HRG was a great company, great people and will be sorely missed as a separate entity. Hopefully you can carry some of that spirit with you in the new life with GBT. The industry needs the thinking you have given it and we who have been in this industry a long time have to fight for the betterment.
Whether I have given you laughs or been quite spot in, I have enjoyed participating in the forum and following HRG and the posts all these years. Of course more than anything the profits I have made on HRG since I started invested about 12 years ago has certainly helped to a much better lifestyle. the mortgage has been paid out, the kids have had theirs, the pension topped up and there will be plenty for the cruises and good times. Thanks, David, thanks HRG and here's to the next chapter!
I have to agree with you some of the posts have been quite a laugh a few like Buller stood firm and hopefully made a packet.
You never know the name Hogg Robinson may resurface as it is held in higher esteem than Amex.
In the words of holder and lea (Slade to younger readers ask your dad)
Look to the future it has only just begun.
Knob slade
To anyone still reading.
I just wanted to say many thanks for all the reads , over the years.
Some of the posts were so ill informed , they gave me and others a huge smile. Some were so ‘on the button ‘, it was spooky. Many , were considered and thought provoking . Rather than name any of you individually, I would simply say, thanks for your interest in HRG. It was and remains a great company, with terrific people, most of whom will go on to build an even greater company with Amex GBT,I hope and anticipate to the benefit of its clients, the detriment of its competitors and the betterment of its industry sector. To those who made money, well done. To those who didn’t - you should have kept the faith. From me, it’s hasta luego. Perhaps some of our paths will cross again - who knows 😉? BarcoDavid
Just like to say along with the others how well you have stood by Hrg.i worked for them for 38 years and will be sorry to see the name disappear but life goes on. Did not have a big stake but every little helps. May be David will get a new boat. Thanks for all your foresight it was a shame Hrg could not have brought out amex( one can dream) Keep on rocking Knob slade
Thanks for your thoughts on Saga. And do let us know through this BB if you see another undervalued opportunity like HRG. In the meantime, I wish you a well deserved break.
Well done all involved the time has come for David to hand it over he has had a very good run and made a few quid but so have us investors, fair play to the fella. I think Amex in 2018 will quickly integrate a lot of HRG as they have the capacity to do so, sadly for hrg that could mean some significant job losses. Do you think as part of the deal we could purchase some Amex shares at a discounted price.
Thanks for your kind message. I dont know that much about Saga, but it certainly is a totally different business model and you cant compare at all. HRG was very low risk but also much smaller margins as they were paid a fixed fee for each transaction but never had to take inventory. Saga is more of a touroperator, taking inventory and huge risk with cruises, investment in printing brochures etc. Of course they have a very bespoke market in teh older audience, but it is my feeling that the age where people see themselves as old and willing to go on holiday with the other "oldies" has passed. So Saga is trying to change their philosophy to yes, be for a certain age group, but not be defined at teh elderly and I dont know if that is proving succesful. Of course Saga also has different products such as insurance (not doing very well) and several others but I have not at this stage considered investing in them. Have not studied teh financials in details, I would like other shares with strong dividends and Saga has had that but I dont like their debt and doubt if they can continue to pay these dividends whilst servicing that debt. Honestly havent considered where to reinvest as didnt know this would happen today. I took my whole pension into cash 3 weeks ago as was nervous about the highs we were seeing and I think we are going to see some volatility for some while, so after paying out my mortgage and giving some to the kids (maybe even to the wife) will start looking around for the next HRG. Did top up my BDEV (another one I bought during the 2008 crisis) the other day as they have dropped 100 points and I think building houses will be good for some years to come but other suggestions are very welcome. Hope that helps a little!
I too want to congratulate Buller who steadfastly maintained his faith in this company that, as he says himself, the Market never fully understood. And I want to ask Buller, who has worked in the travel industry, whether he has an opinion about Saga which has been through the ringer in recent times. Would he put some of his winnings into Saga? Or do the two companies have different operating models?
Looks like a great deal for the HRG shareholders and directors. I imagine GBT will become the prominent branding over time so goodbye to all things HRG. I do not see anyone bettering the offers for either business. It�s a full offer by GBT in these uncertain times so I would expect them to waste no time in making their cost-saving synergies, so probably not great news for some employees.
My pleasure and glad that I was to some help. That is the beauty of this game, we can all win so when I can help others it doesnt mean I lose out, that is the value of these forums when we learn who you can trust and who is just trying to pump. I have been in this business a long time ( never with HRG, I hasten to add), so I understand the fundamentals which the markets dont as HRG is the only one listed in this type of business. That is why it was always undervalued and only today did we see the true value. With the main man, David Radcliffe getting closer to retirement, it had to happen at some time. He has been remarkably quiet today, by the way. I have sold 60% now and will be celebrating, champagne on the menu tonight and the kids can expect a very nice handout. Hope you enjoy your winnings as well!
You'll all be out celebrating.
Cheers for claifiying Buller... In the excitement I miss read the RNS. My bad... I'm jwalking around with a huge smile on my face, this is what I've been waiting for. When the rest of the market is going thru a correction this shoots up.. Knew this was going to come someday but was taken by a surprise today when pit landed. Lastly if I'm honest your posts kept me in the game, informative, honest and rational... I nearly sold a couple of times when I was a bit short.. But held. Big thank U. Wish you and all Hoggers the very best.
I've been here 10 years as well Buller approximately , traded a few veeeeery slow dips between 60 and 80 , and always loved this share . Can't beat a dividend surprise every six months or so ! I've cashed out mine ( barring 5000 for a look-see) and finished work early for a quick beer ! Seen too many difficult transactions fall out of bed and spoil my party to stay in . Well done Buller and all . Enjoy !
In fact Visa are the ones that have bought the technology company from HRG. I cant see any of them getting invovled in the travel agency side. Remember the American Express we are talking abut here has nothing to do with the credit card company of same name. They split this division and sold it a few years ago, so better known today as GBT. The only ones I could see would get in would have been BCD , a major competitor who owned 23% and DNATA, a partner who owned 21% but they have both agree to sell apparently. The only other to consider are 2 other global players Carlson Wagonlit and possibly FCM from Australia, buT I doubt they have the money and I doubt they will pay over 130 which would be what they would have to bid now to get into. This looks like a friendly takeover and it has apparently been on the table for several months, difficult to see anything coming in teh way now. I was thinking monopolies commission as they are 2 of the 3 top companies in this sector in the UK at least getting together, but there are a lot of other companies still out there,s o they shouldnt touch it. Well done to you as well, days like these are few and far between!
I cashed out on half my portfolio, thinking I'll sit back now relax and see what transpires.. There could be a couple of twists yet if another bidder jumps in.. Visa or Mastercard step up. Would be funny.. No?
In reading a few more details looks like both BCD and DNATA have agreed to sell their shares (They both make more money from this investment in a competitor than they did running travel agencies), so unlikely to face a counter bid. The price is between 110 and 120 depending on the sale of the technology arm Fraedom, so the question is if I should go for the 116 on offer to day or wait for the 120. There is always a risk that something could happen to the deal so will probably cash half in today if I can get above 115. Anyone else cashing or already cashed in?
In reading a few more details looks like both BCD and DNATA have agreed to sell their shares (They both make more money from this investment in a competitor than they did running travel agencies), so unlikely to face a counter bid. The price is between 110 and 120 depending on the sale of the technology arm Fraedom, so the question is if I should go for the 116 on offer to day or wait for the 120. There is always a risk that something could happen to the deal so will probably cash half in today if I can get above 115. Anyone else cashing or already cashed in?
Hold or sell that is the question?
YES, YES, YES, as you say Karlito have said about this for many years, that a bid had to come in and it had to be over 100. This is even better and maybe not from the 2 favourites, BCD and DNATA, that I would have thought. Both of those have over 20 % and will either take the money and run or possibly try a counter bid although I doubt it. I started buying these exactly 10 years, the price dropped to a crazy 5 where I bought a lot more during the crisis. Ended up with about 1/10 of a percent which doesnt sound a lot but for a small private investor is and that was at an average of 11, have tried to get everybody here to join, hope some of you did. For several years had my finger close to the sell button every time we reached a higher level at 70 and then 80 as this share was far too high a proportion of my portfolio but held off waiting for this day where the champagne will pop. Well done HRG and well done , all who have cashed in on these shares :-)
American Express... Have been waiting a long time for this day its nice when you see something coming through .. Great news delighted for all the HRG holders. When I saw the price first I thought it was a typo.. Just very happy. Buller you have being saying this for years. Delighted for you and everybody on this board. Jumped into HRG since 2009 so it's taken a while.. Better late than never..
Looks like 10 years of patience has finally paid off !!!!!
I agree the shares look to be an attractive buy for its dividend yield, but I think its pension scheme liabilities (almost equal to its market cap) might deter a takeover. Also business travel agency is a very competitive market and difficult to grow revenues and margins. The annual reports show the company is continually having to cut costs to maintain margins. This is good effective management in a very tough market.
Hit. 85p this morning on very light volume. Will be very interesting to see if this hits over the ninety by end of the week. If it does it may be the start of something? This share is undervalued even the dogs on the street know Hogg is a solid well run company that offers a great dividend. Motley Fool recently wrote an article recommending its a buy just on its dividend yield alone. Word is getting out & 2018 could be the year that Hogg will be acquired. When this happens it will happen very quickly!
Nice momentum over the last 6 weeks, share should be on fundamentals be trading �1 plus not withstanding a bid coming thru which I believe will happen sooner or later. If we get a bidding war this could rocket IMHO. Always thought this would sit well with Amex, it would be small change but Visa uses Fraedom for the corporate online portal and for their card issuing bank clients. Amex acquires HRG its a travel management so the business fits in well with theirs but more importantly would put Visa in a sticky situation. We wait and see only time will tell. I may be totally off the charts but this is my humble opinion. Best of luck to all the hoggers and let's see what 2018 brings. Only way is up.
Might have been quiet everywhere else but this share has made sure I have a very happy ending to the year. For a share with so few shares in circulation to increase as this has the last 3-4 weeks and especially today, there must be something going in the background. Certainly patience has paid off and if the bid comes through soon 100 could be just around the corner. Wish you all a very happy new year with loads of profits!