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Interesting that major shareholders not happy with Dbays latest approach. Have Dbay offered something to the BOD members???
https://betaville.co.uk/betaville-intelligence/rare-alert-telit-communications-said-to-part-29/
don't worry chris.ive got it now.
chris is that something you can post or indicate link to? much appreciated if you can
Betaville reporting a new US listed firm is circling Telit; and have engaged Barclays as advisor.
agree with that moniman, which is why it is difficult to understand the reason for them opening the door again. must presumably indicate that they are not averse in principle to offers and perhaps they are hoping it will flush out any other interested parties.
Any offer from Dbay will always undervalue Telit. Dbay's investors know this will be worth a fortune in a couple of years from now and probably just want to asset strip it. Telit should just tell them to politely walk. We could easily be at 400p in 18months time, where would you get a return like that, certainly not in the bank...aimho adyor!
I don't think an offer will be at 206p That's the highest price Dbay have paid in the open market. Dbay tried a similar trick a few months ago by offering 195p but buying shares at higher prices..if the Bod turned down 250p share offer from Ublox why on earth would they think of taking anything less than 250p. Telit worth a minimum of 300p today, probably 400p in 12/18 months time.. And Dbay know this otherwise they wouldn't be hanging around like a bad smell. adyor!
Yes, in my last post I forgot they added at 195p so that was the prior min, which was rejected. I struggle to see why the BoD re-opened the discussions without a significant increase from this level ie not an additional 11p.....
Absolutely!!
They can poke it!
I think this will flush out a Trade buyer TBH.
2.06p is the minimum allowable offer as this is what Dbay have been buying at recently but they can't get hold of any more it would appear....... simple answer from BOD Fcuk# off unless the offer starts with at least 300 in front of it. Telit were way above 300p a few years back but they are in a far stronger position now and have £50 million in the bank with no debt... Dbay can politely be summed as a bunch of chancers imho. ADYOR!
I would hope so.
What I'm baffled by is Telit going to all this trouble to let DBAY back in the game for a couple of extra coppers on the share price?
The constant back and forth by DBAY is a major distraction for the BOD , and unless there's been a major change in circumstances for the Group, then £2.06 doesn't come close.
i wonder if we will receive a response from telit tomorrow?
Just switched on to see this nonsense.
The tell tale sign was the lack of upside to the share price this morning, and the raft of offers around 210 holding the price down - funny old game.
What a strange old situation this is turning out to be.
Not sure why Telit Board (and Rothschild as adviser) have allowed DBay access to further due diligence without first getting some indication from DBay at what level they might be minded to make an offer. DBay know this business well already.
206p is hardly a premium to DBay's previous offers.
This looks like a waste of Telit's time.
The reference to divi etc is pretty standard stuff.
My take on this is that BOD won’t accept 206 (given they rejected 190 last time) and these are just the games.
Question whether BoD would recommend offer at c. 250p, cash.
need to digest this carefully.looks like hardball on first reading.note the reference to a dividend and possible offer reduction if paid.maybe this is just standard safeguarding of position,but not sure. also reference to going private if I've understood it correctly.thoughts anyone
The BOD and other savvy shareholders know Telit is a fast growing IOT company with significant contracts with big tech companies. Having bounced back strongly from the Oozi Cat shenanigans Telit are in an amazingly strong position at the moment the way IOT is growing across all markets. If I were the Telit BOD I would have said if any offer doesn't start with a 3 in front of it then please Fcuk# off and stop wasting our time. Aimho adyor.
Is the potential bidder somehow also selling, to keep the price down, so as to show a fat premium when the bid comes? Or am I paranoid?
I think that's a fair assumption.
Results next week and Telit BOD could potentially be looking to distribute excess cash with dividend? Are Dbay looking to get in first by the look of things?
Have to say, I'm a little disappointed at the price action. There appears to be a substantial seller around 210, with no effort to test the levels.
The Ublox offer was around the £2.50 last time round admittedly with a stock element, but that that was deemed to under value the company.
One wonders if Dbay's approach will now flush out other suitors?
As I've been saying for a very long time, even before the first round of offers, Telit is being significantly undervalued imho. Telit has huge potential and anything under 300p right now is too low. Telit BOD know this and hence why they are playing hardball. Maybe Ublox might come back as well but Dbay have been building up their stake to the max 29%..making it difficult fir others to muscle in on the deal...Adyor!
Yes
good news henry and what i was hoping for when i bought in recently.as someone on ADVFN has said, Dbay must have indicated something more substantial was potentially on offer for Telit to open the door.i would assume it would be above the Ublox figure,but i never understood why the s/p didn't move closer to that figure last time, so there are probably factors at play which are not clear to me. anyway good news and interesting to see where we get to.gla
Announcement out, back in play.
Any thoughts on price?