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I just added 2,600 at 57.99p. So should make £80 for sure within a few weeks and maybe £250 if the 7p goes through. Small money but better than what's been happening to the rest of my portfolio recently!
Already added 862 @ 58p (shows as a sell, but was my buy). Will add another £500 more if I can get 55p.
Yep the main shareholders have agreed so just the formalities to follow. Not sure on timescales but usually deals go through pretty quickly.
Ah! I hadn't joined the dots on this and I find the RNS a bit difficult to follow. The numbers certainly look right but do they explicitly state that the 7p relates to this separate SIPP's sale? If it does then I agree that any shares you can pick up for less than 60p are worth getting as the main transaction seems to be a done deal now.
Yes, the bonus is this bit of the RNS “ The STM Board is also pleased to announce the entry into an agreement to sell the SIPPs Companies to Pathlines Holdings Limited (a company controlled by Alan Kentish, the STM CEO) for a total cash consideration of £4.5 million (the "MBO Sale"). Completion of the MBO Sale is conditional on, amongst other things, the sanction of the Scheme by the Court.”
£4.5m is just over 7p a share but legal cost’s of selling it will need to be accounted for. Even 5p a share, you can buy this morning 58p. So could be over 10% return! Tempted.
60p is already a big step up from when the SP was languishing around 25p. I'm not at all clear about the additional 7p either, but let's treat that as a bonus.
So the “ Deferred Consideration Unit” could give up to 7p on top off the 60p. This seems to be for the rest of the business that’s not wanted. But how is this transparent to small shareholders, seems the selling of the other parts is being decided by the board. Oh well it could have failed to go through, happy with the 60p any more is a bonus (that’s how I’m thinking).
Paid off (I think), just need to make sense of the RNS now ;-)
Another cold shower coming upon us in two days time?
52.2p to buy today (Friday).
I left a small 50p bid open all afternoon but no takers.
I think the market was basically 46p-53p.
I might try again tomorrow.
Yes a difficult one. It does seem the the buyer has the upper hand, that's my small concern. they keep coming back with new proposals that STM seems to go "Ok". If I get a little bonus on another trade I may stick it in here. see what next week brings!
A small buy went through at 51.5p this morning. I'm tempted to buy at that price as a deal at 60p looks highly likely and there is still the chance of 67p.
Also it occurs to me that even if this deal falls through the company could very well put itself up for sale as they will have done all the due diligence rearding licensing, statutory regulations, pledged bank deposits etc.
Just had a buy quote for 51.5p but holding off for now.
It looks as if you can buy at around 56p this morning but volume is very thin.
Still buy price just under 59p, if I could get some under 55 I’ll probably add a few more. Oh well let’s see what happens at the next RNS….. and the next and the next!
Yes, I’ve read it a few times today, and I’m with you. It’s seems that the buyers are very happy with 60p but STM has said something like will ok 60p but if in 12 months time x is true then another 7p please. The market thinks 60p, with the spread today buy just under 59p. Then it would be gamble if x is met or not.
The RNS seems to be saying that the sale price remails as 67p, but only 60p is paid now with 7p coming a year later. This seems very odd. If the price is fixed at 67p why delay just 10% of this for 12 months? It is not normal. Or is it a hidden way of saying that the price has effectively been further reduced to 60p and the additional 7p will only be paid if certain performance conditions are met? The latter seems more likely to me.
Interim results were also released today. Things appear to be plodding on in much the same way as before. i wonder where the share price will end up if this bid falls through? Around 35p is my guess.
Yep, I haven’t got a clue what’s going on. I’ll try and read it again later. Confused.com comes to mind.
The RNS has just been released and frankly it's as clear as mud - a further extension and now a loan note is being introduced. God knows where this is leading! At least the potential purchaser seems to be interested still.
Yes very tight ship, hardly any trades over the last couple of weeks, as you say only hours to go. You would hope everything should be in place by now. If another extension it would have to be for crossing the T’s and all that after all this time (and money).
It is difficult to understand. I tend to be optimistic as the share price has stayed pretty flat during this whole process, If things were going badly it would presumably have sunk back to 40p or less. An announcement is due by 5pm today (27/9). Lets hope it's not just another extension!
On RNS? Does this mean that the offer is dead or a transitional contract? The share price is not showing confidence.
With you, very unclear about the “non-core”. Are these cash positive or debt laden assets? I’m sure once agreed the proposal should clear things up. With the reduced offer of 3p a share would think they have some value. This morning I could buy at 61.75p so a nice little profit (didn’t buy any), but will I’ll keep an eye on it.
It's priced 55-65 currently. A huge spread. Not surprisingly there is almost no volume. But based on this morning's RNS i would think it's pretty much a done deal at 67p.
One question - what is going to happen to the 'non-core activities' not included in the deal. The RNS seems to be saying that Alan Kentish will buy these separately. So will there be a bit more cash to return to shareholders from this? it's not really clear.
Thinking about it, this is so far off the radar, later RNS last night, so today people are in the dark. On the next RNS (signed), if the buy price is under 60, I may add more. Tomorrow I’m flying to Guernsey for a couple of days so probably miss it!