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That's about 27 million shares or £4.25 million worth of shares. Hopefully it wont be too disorderly. Either way once the selling is done then the share price should hopefully recover to a more realistic value.
Looks like that last 3.8% might get a little bit disorderly... might get another buying opportunity under 16p
Exponent held 235,681,708 shares as at 20/12/20 - 33.8% at the time - but using current denominater of 704,987,954 this is now 33.4%. HPS Investment Partners got 8.5m when the expensive loan was paid off and have possibly dumped them. The board have around 3.5m (ca 0.5%). Market makers have done well to job out all this Tosca stock; let's hope the remaining holders including new buyers will get the benefit.
Free float now around 24%. Good riddance to Tosca. 2% went to Ravensworth, leaving 6% unaccounted for
Exponent 33.8% 15/12/2020
Ravensworth 29.5% 14/01/2022
Toscafund 3.84% 17/01//2021
CIP Merchant Capital 3.6% 29/3/2021
Hestia 5.6% 28/10/2021
TR1 is great news.This has been held back by the seller.Now the seller is close to finishing,this can rise to fair value.Fair value must be much higher than this.A great time to invest in a quality operator at a price that is soon to be history.Investors will need to hurry to buy the remaining shares being sold.Sale on! When its gone ,its gone!
Wow thats quite a chunk from Tosca. Wonder who picked that up?
There's your TR1!
Two big sales from Friday recorded.
Tosca close to ending their sell??
TR1 due soon.
Onward and upward
That's my point!
I dont believe in bitcoins and alike. Always a believer of proper solid businesses like HSS, they have stood the test of time and will do so over and over again.
What would a relistic TO target be in your opinion Jax? I have purchased off the back of this news. Very unloved in the current climate with people wanting NTF's and bloddy Bitcoin.
Compnaies like this will have their day again.
with 83% in five holders would be an easy takeover target (at an acceptable price obviously)
Absolutely it's good news. I added immediately after the RNS, though there seem to be quite a few shares still for sale around 17p so not expecting an immediate jump - but who knows.
Well strange move on his behalf.
In Oct he sold his entire holding in the company, I think there was a quote he would buy back in when he could.
I do note he sold out at a slightly higher price, than he bought back in at!!!
Good news anyway to see a re purchase.
Gla
And 1% offloaded by Tosca on Tuesday, should see that come down more from yesterday
1.5m shares a decent sized director buy at 16.6 though. Should be confidence boosting I would expect.
Added 2%. Interesting. Doesn’t help with free float
Chunky trades from last few days triggering SP rise and then some chunky profit taking today imv. Need to clear some more sellers and then -assuming covid risk recedes - this could add a few more pence in short order, hence why I'm in.
Yeah Tosca was trying to orchestrate a merger between HSS and Speedy for at least 5 years. The fact that they appear to be exiting suggests that this is highly unlikely. I think HSS are equally as likely to be a buyer given their net debt position and ambitions
Would be more likely an offer from Boels Rental
He loves the HSS model here, he takes pictures of the depots when he travels over here!!!
You are probably right, but say Speedy were to make a bid, wouldn't they try to seduce the two major shareholders (61%)with a number of sweeteners to secure a deal?
All conjecture on my part, but this scenario has been mooted for years with no result!
It's hard to say what the intentions of the major shareholders are. They have sat by idly while the share price has been destroyed so they seem to be very patient and supportive of management's transformation plan. There is no way the major holders will let this go to an outsider on the cheap and I think if it was an inside job something would have happened by now. My guess is that they would be willing to hold on to this for a few more years and sell when the market has recognised the value and a higher SP makes a takeover easier to swallow.
It's easier to focus on how cheap the company is right now and that despite all the positive change the SP is languishing. I've spent quite a few hours crunching numbers and reading through all the news and it really does seem to be a strange anomaly.
Volume and price action today would certainly confirm this. Will it now return to the 25p level which it was previously? Need to review the Broker targets after the last set of figures as they were pretty positive too.
Ragnar what are your thoughts about this new becoming a prime takeover target?
Even if Tosca do lob the lot, Exponent still own 33.8% and Ravensworth 27.5% so not sure how that would all play out.
Just looked in here, certainly some chunky trades .
Nice to see a rise.
Gla