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Started: mango, 16 Nov 2023 10:04
Last post: Franalex, 25 Apr 2024 08:10
But absolutely nothing to suggest that the offer they rejected “under valued the business”. Hope they take questions on this decision at the AGM as the share price is a country mile off that figure.
'modest' dividend incoming... better than no dividend!
I was at last years AGM and they seemed a smug lot. Given the recent bid which could have been over £8 per share they have a lot of questions to answer. Today’s update says it is unlikely we will reach that type of valuation anytime soon if ever. My view is they protected their jobs and salaries at the expense of their shareholders. They didn’t even put the bid to us. Shameful
Agree. Holder for over 20 years and think I will attend the next AGM and ask the Board to provide some evidence that any of their actions since the Carlyle bid (£20 plus in todays terms) was rejected have been in the best interests of shareholders. The share price and dividend policy suggest the market thinks not.
Profit warning sneaked into last sentence in trading update. This mob should have accepted the takeover offer last year.
Started: Superdad, 26 Oct 2023 13:18
Last post: Franalex, 9 Nov 2023 11:17
Agree. Wonder if they bothered to compare the two. Acting in the best interests of shareholders, I think not.
unbelieveable. they rejected discussions on takeover and then post ****e results , contrast between what they said about prospects just a couple of weeks ago and today could not be more stark. sack the ceo.
Finally got a reply which said 'read the rns of 26 October'. Fantastic. I am going to suggest the IR dept is recycled.
No reply yet to my email!!!
Give it another couple of days and I will write to ceo.
Does anyone know why the sp has bounced today?
Started: Franalex, 9 Nov 2023 08:08
Last post: Franalex, 9 Nov 2023 08:08
Can see absolutely nothing in either the numbers or commentary to back the judgement of the Board to turn down the recent bid.
I have sent this;
Hi, As a long term shareholder I should like to know why the company has not engaged with the bidder, please explain.I am of the view that engagement could have resulted in an offer that was insufficient but how would shareholders or indeed the BOD ever know. Unless I get a satisfactory answer I shall be voting against re-election of all current directors at the next opportunity, as they are supposed to be working in my interests and not their own.
BOD should resign . Outrageous behaviour - they could have engaged and then said we do not recommend.
RWI
Think we’re going to get a better offer and the board going to cave in find out after close or first thing but obviously there is sellers panicked out there.
Fran, totally agree. I went to last years AGM and the board did not appear to be shareholder focussed to me. I think any promise of jam tomorrow in a cyclical company like ours is dangerous, when so many “unexpected”things have affected us in the past. The offer of £7.70 is well above where I believe the SP would be during the next two years so I would definitely prefer my jam today. The SP is currently 15% below the offer and f they pull out it will almost certainly be a lot lower. Just my take
As a very long term holder who saw the Board reject an offer from Carlyle over 10 years ago at around £5 more than the current offer, because it did not reflect the value of the business, I am fed up with the jam tomorrow promises. Dividend slashed, woeful share performance, share consolidation to make the price look better; around 25 years ago the price was over £20 adjusted for the consolidation. I will take what is on offer.
If you look at the SP for the last 2 years , the bidders are not offering a premium at all. the proposed offer is well within the normal trading range and should be rejected. The UK share market as a whole is depressed due to interest rate uncertainty and Renewi was at bargain basement levels before the approach.
Given this companies very strong position in the countries it operates in and the high regard it is held within government circles ..(The Dutch Prime Minister, Mark Rutte, and the Dutch Minister of State for Infrastructure and Water Management, Stientje van Veldhoven, have both visited Renewi sites).
The Australian investments giant has a reputation in Britain for financial ruthlessness, earning itself the nickname “the vampire kangaroo”. In its statement, Macquarie Asset Management said it would honour the company’s employment and pension rights, adding that it would implement Renewi’s strategy “for the benefit of all its stakeholders, including municipalities, household and business customers”.
Noone believes this and MacQuarie has ruthlessly asset stripped water companies in the UK. It is sure to lose any goodwill from the Dutch government and is a very poor fit for Renewi.. A far price would be £10 plus but MacQuarie are not suitable owners of an environmentally responsible company.
Others may disagree!
Biffa is one
Started: undercarriage, 2 Oct 2023 08:19
Last post: undercarriage, 2 Oct 2023 08:19
Started: SAGACITYRULES, 16 Mar 2023 09:54
Last post: Me12345, 28 Sep 2023 12:01
Well not surprised by the news don’t think this will be the only offer and expecting another approach good luck all
Down 7% on Friday! Featured on Citywire at https://citywire.com/investment-trust-insider/news/expert-view-renewi-aj-bell-entain-fevertree-and-petershill/a2417962 which is often a contrarian indicator.
Might move a little higher today - results not too bad and futur looks better.
If you're here, it's for the capital gain. No divi for at least a few years - distributable reserves -€227m.
The gearing is significant, but there is reasonable interest cover. Sustained profitability and continued debt reduction should see a re-rate. May even be an acquisition target.
Good luck all patient holders.
Too much debt and no divi.
Started: SAGACITYRULES, 27 Jan 2023 15:08
Last post: undercarriage, 31 Jan 2023 13:27
Yes! it is very quiet here though... Quite like todays RNS, steady as she goes.
"Renewi is well positioned for growth in its markets and to serve customers profitably as the circular economy develops and the market for low carbon secondary materials evolves."
Is there anybody there?
Just attended the AGM, quickest I have been to! Everyone positive. Asked about dividends and company looking to
Invest but will be looking for a “balanced approach”.
Started: undercarriage, 24 May 2022 09:52
Last post: undercarriage, 24 May 2022 09:52
be nice to see some dividends on the back of this strong performance
Started: kebark, 28 Jan 2022 08:15
Last post: LiveLif, 28 Jan 2022 08:58
Add to that today's missing RNS.
I'm assuming it was a glitch but how can the spread possibly be
"Spread -25.00 (-3.62%)", with the bid being higher than the ask? Just a graphical LSE glitch right?
Last post: TheSmiler, 24 Jan 2022 10:58
The FTSE 250 has taken a battering in January, hence why the sp is where it currently is.
Started: mango, 9 Nov 2021 10:38
Last post: undercarriage, 9 Nov 2021 10:47
looking very good
Following today's annual report presentation sp up significantly reflecting the huge opportunities for this company in recycling .
Started: TheSmiler, 7 Oct 2021 12:11
Last post: TheSmiler, 7 Oct 2021 12:11
Just coasted past the treble bag point for me. Not selling though.
Shame it's the share I invested the least in.
Started: TheSmiler, 10 Aug 2021 11:04
Last post: StumbleBum, 4 Oct 2021 09:27
A nice strong trading update today.
https://www.londonstockexchange.com/news-article/RWI/renewi-plc-half-year-trading-update/15158992
A likely trading update tomorrow. I'm expecting a good one.
It was the equivalent of 590p on 7th July before consolidation!
It looks like it could eclipse this today.
Back on track, but it's taken a couple of months to get back where we were before consolidation.
nice slow & steady rise with a 52 week high
Approaching a month since consolidation and let's hope we've turned the corner after hitting a low of 500p yesterday.
The RWI SP was showing good momentum before consolidation, the FTSE 100 is back where it was a month ago and the FTSE 250 is higher. Early days, but consolidation has so far been a bit of an own goal for Renewi. Personally I did not see the need for consolidation.
Started: TheSmiler, 19 Jul 2021 09:32
Last post: PartyPooper, 19 Jul 2021 12:49
Yep, it doesn't hide the 23% drop though
There's been a 10:1 share consolidation
How's this happened ? Last week they were around 60p now its north of £5 a share, is this a mistake?
Any enlightenment appreciated
Currently 550p buy and 502p sell
Who's going to sell?
google showing 542.65 currently.
Last post: LiveLif, 27 May 2021 10:14
Before covid that is
More lucky. Went out early doors covid, and bought back in after the fall.
Pleased to see. Have been a holder for 10 years+ and sitting on a substantial loss.
Seems like the market does not see this as a disapointing set of results.
Interesting to see that they specify that European investors prefer a share price over 1 euro, so they are going to achieve this by a share consolidation. Not too long ago that a price of over £1 was justified by trading. Remember this was a company whose Board turned down a £1.20 bid from Carlyle because it did not fully represent the value of the business. Amazing to think that at its peak share price was over £2.50. Will be interesting to see low the market judges what looks a slightly disappointing set of results, again.
Started: undercarriage, 21 May 2021 11:27
Last post: wealthbuilder, 23 May 2021 11:52
Interesting subject for the future Undercarriage. Each country should responsible for their own waste. Innovation ideas like this company will help in re-using the plastics https://macrebur.com/about-us
https://www.theguardian.com/world/2021/may/19/turkey-to-ban-plastic-waste-imports
China and now Turkey banning uk plastic, where's the uk going to dispose of all the crap we consume and packaging we throw away? got to be good for a company like Renewi in the long term
Started: undercarriage, 12 Apr 2021 17:33
Last post: undercarriage, 12 Apr 2021 17:33
52 week high today, how come it’s so quiet on here?
Started: volcano, 11 Mar 2021 09:09
Last post: undercarriage, 11 Mar 2021 10:59
peel hunt have a target of 64
Given the strong Commercial performance, Group underlying EBIT for FY21 is now expected to be significantly ahead of our previous expectations at around €68m.
Started: undercarriage, 8 Jan 2021 10:28
Last post: undercarriage, 2 Feb 2021 16:06
Agreed, the trading update was encouraging as well
Mid to longer term RWI will benefit from the general "greening" of the economy - or what is left of it after ravages of Covid and Brexit and ahead of the wider enviro-socio-economic collapse!
Very quiet on here! what are peoples thoughts on Renewi for 2021? It’s been on a great run since November
Started: maxarch, 20 Nov 2020 11:19
Last post: RogerD, 20 Nov 2020 18:45
Started: hereforchat, 18 Nov 2020 16:19
Last post: skid35, 19 Nov 2020 18:37
Nice write up today in shares magazine
Good research- enough for me to top up for a mid length hold.
Gla
yes, good news
https://www.edisongroup.com/publication/expectations-raised/28259
Improved forecasts for 2021 and beyond. Seems to be moving the share price.