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I'm sure De Hann would be more than happy having more shares at 12p left from shareholders not taking up the offer
'' I reckon the company could now be taken out at 20 - 25p.''
Zero chance
Marcus, I agree your logic. Unfortunately, market is not playing ball.
I wonder if there’ll be another bid? I reckon the company could now be taken out at 20 - 25p.
Dont think I will take up the offer now, maybe just buy them cheaper on the open market
There we go.
Marcus, you should know exactly how many shares is allocated to you by now.....in fact you only have few days left to decide if and how many you want to take (depending on your broker deadline...)
GL whatever you do.
Pianista its worth keeping an eye on the SP.
Everyday so far it has had a period where it is over 13p. Its not tons of money but if you can sell a tranche at over 13p to buy back at 12p then it is a further 8% saving and that 8% you can either keep the cash or buy something else.
I am disappointed in myself for not working out the number of shares I was due and selling at 15p the day after the record date, but in the end the maths just makes sense to sell at 13p and buy them back at 12p unless charges would wipe out any savings made.
Just a thought as I too am overweight in Saga and so did not want to risk more capital, so this was a way of reducing that risk. I'm assuming that my full allocation will still be 5/9ths of the shares I held on the record date and not what I now hold, if that is not the case then it not a tactic to use.
My plans are to take only my half allocation of the RI....with funds ready I will wait and see the new price after the funds raising is completed and the consolidation is done....when/if the price will drop further, (I think there is a good chance it will...)then I will buy some more in the open market.....of course this is not guaranteed, but I will take my chances....
GLA.
I'm already overweight in Saga, so buying my full allocation is not on. However, I'm happy to take 25% because it represents a relatively small punt for me, like buying a lottery ticket (though thinking about it I'd probably do better by buying actual lottery tickets!)
Yeah right.... John F Kennedy was killed by the Military Industrial Complex...... the Americans never landed on the moon... Covid is one big Bill Gates/ WHO/ Government Command and Control Fraud......
I'm not sure whether it is just my platform, but the spread seemed huge at times today with bid below 12 and ask at 16. So whilst the mid figure comes down you can't actually buy at anywhere near 12p - the MMs, indeed, seem to be keeping thi sup.
With regard to strategy talked about below, I do think there will be a difference under de Haan.
He is clearly wanting to aim at much older clientele. Before, they were forgetting ever younger audience (i.e. 50 year-olds). There is little difference in the product if you go that young.
De Haan talks about counting the number of steps in a hotel - this level of detail is important for older people and they are willing to pay for the peace of mind.
So, we could see a change of emphasis that could revive Saga. For a long period the company has been lead ( or should I say bled?) by a US equity company.
I would, therefore, be inclined to be more positive ; yes - there is a case of survival first, but that is the whole point of this cash raise and De Haan's investment.
Slownsteady - talk about naive! When was the last time someone went to jail for SP manipulation or any other financial misconduct? Regulation is a joke.
Slownsteady
"Price manipulation of the kind you are suggesting will happen is a jailable offence."
So is $2tn dodgy transactions as per the news today, but sh*t happens. Those of you who think this is a fair and straight game are living cloud cuckoo land
I totally agree with Pianista and I'm doing the same
Pianista, there's a lot of garbage posted on this site from punters who haven't the slightest idea how the stock market works. Yours is right up there I'm afraid. Price manipulation of the kind you are suggesting will happen is a jailable offence.
You could be right Pianista......there will no doubt be shenanigans .......I could easily be wrong, however, I still think the massive reduction of shares in issue should provide a decent uplift. No doubt the news will also impact the SP and if it's all doom and gloom then that could be a different matter, bearing in mind any positive news on travel restrictions / testing / vaccine should also play a significant part over the coming weeks / months.
GLA
Pianista
Why bother to take 25%?
At the current SP, I'll probably only be taking 25% of my allocation. I fear there'll be efforts behind the scenes by the underwriters to artificially get the SP up to 13p or 14p before the deadline, so as to avoid being lumbered with a huge number of shares. Like lambs to the slaughter, PIs will then be tempted to take the offer, only to see the SP dip below 12p when support is withdrawn after the offer closes.
Agreed, I’m waiting until the last minute but right now there seems no point at all
Is anyone going to bother buying these. Seems like there is no point now.