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I think very strong trading update coming in a couple of weeks if you look at the RNS...
Pleased the bod has looked at the offer and considered the merits and decided no its not beneficial enough to us.
The potential is here its why others keep having a look, if they are serious the offers will come along at a higher level, if not we are well placed to make a success of this business alone.
Interesting developments indeed.
I think it's fair to say that TCM is on the radar of a number of companies right now, and rightly so - it's clearly going places IMHO.
Happy to stay with this one.
they rejected 2.50
why would they go for 2.2
also sitting on £60m
only 133m shares in circulation
confident in their ability to grow the company
...this termination of talks with U-Blox clears the deck.
All IMHO
Telit Communications Plc (LSE)
LSE:TCM
Telit Communications Share News (TCM)
4
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Share Name Share Symbol Market Type Share ISIN Share Description
Telit Communications Plc LSE:TCM London Ordinary Share GB00B06GM726 ORD 1P
Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
-1.50 -0.73% 204.50 204.00 205.00 204.50 200.00 201.50 126,472 09:53:34
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Technology Hardware & Equipment 296.0 45.1 27.1 7.7 270
Print
Alert
Telit Communications PLC Termination of u-blox discussions
07/01/2021 10:32am
UK Regulatory (RNS & others)
Telit Communications (LSE:TCM)
Intraday Stock Chart
Thursday 7 January 2021
Click Here for more Telit Communications Charts.
TIDMTCM TIDMTTM
RNS Number : 9195K
Telit Communications PLC
07 January 2021
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
FOR IMMEDIATE RELEASE
7 January 2021
Telit Communications PLC
Termination of u-blox discussions
On 20 November 2020, Telit Communications PLC ("Telit" or the "Company") announced that it had received a preliminary proposal from u-blox Holding AG, ("u-blox") regarding a possible all-share merger. On 17 December 2020, Telit reiterated that commercial discussions with u-blox were ongoing. Telit today confirms that it has written to u-blox to terminate these talks.
Telit has in recent months received a number of proposals, each of which has been previously announced, which the Board has explored with its advisers. The Board noted the potential industrial logic in a combination with u-blox that could create value for shareholders of both companies. However, following extensive discussions with u-blox, the Board does not now believe that it will be possible to reach agreement on terms which would ensure value creation for Telit's shareholders. Given that the Group is confident in its prospects, is well capitalized, and has a strong position in a growing market segment, the Board remains confident it can deliver growth in shareholder value as an independent entity. It does not consider that a protracted period of uncertainty and distraction is in the best interests of Telit or any of its stakeholders.
Telit looks forward to providing a fuller update on its financial performance on or before 21 January 2021 ahead of its final results in April 2021.
Telit is pleased to report that the swift actions taken by the Group at the beginning of the Covid-19 pandemic successfully protected the Group's financial performance for the full year 2020 against the slowdown in customer demand and enabled it to fully maintain its strategic and operational plans, without th
https://www.betaville.co.uk/betaville-intelligence/rare-alert-lantronix-said-to/ explains the rise. Credit to chris2020 over at adfvn.
Feels like a takeover by a thousand cuts. Very surprised that the share price hasn't closed in on the muted price of 250p, I would expect it to be around 235 at the moment. Yes, it's not an all cash affair but even so. Suggests to me that there is a slight feeling of doubt. I bought more as they passed 190 and am staying with it.
Leaky leaky today....275/285p coming?....made up of shares and cash dividend I wonder?..something is going on in the background I feel...any thoughts?
Telit ME310G1-WW and ME910G1-WW Modules Certified for Use on Telstra's LTE-M and NB-IoT Networks
28/12/2020 2:00pm
PR Newswire (US)
Telit Communications (LSE:TCM)
Intraday Stock Chart
Tuesday 29 December 2020
Click Here for more Telit Communications Charts.
LONDON, Dec. 28, 2020 /PRNewswire/ -- Telit, a global enabler of the Internet of Things (IoT), today announced that its ME310G1-WW and ME910G1-WW modules are now certified for use on Telstra's LTE-M and NB-IoT networks. Featuring optimized power consumption and enhanced coverage even deep inside buildings, the modules give Australian enterprises, smart cities and other organizations powerful new options for leveraging Telstra's next-generation IoT networks. For more information, visit https://contact.telit.com/nbiot.
The way I see it going if talks are going okay. 275/285p all share takeover from U Blox, with Telit owning about 55% of the joint company. Or 260/270p in shares and 15p special dividend for Telit shareholders from the £60million cash pile. Let's wait and see.
Confirmation of continued interest from u box and shareholder value .
After market close 4.35 RNS extension to U-blox talks, could be better offer maybe 275p should be an interesting open to the market tomorrow. Not sure why price has fallen back to 185p anyway as D-bay and others have been buying heavily at upto 195p makes no sense as D-bay think company worth more?
Seems like market pricing towards no merger for tmrw I think.
Do U-blox have to re-confirm their offer by a certain deadline or is it just up to Telit to say yes or no or even negotiate a better deal?
Even though take over news is the headline grabber, nice to see it's business as usual in the background.
- The ME310G1-W2 is the world's smallest LTE-M/NB-IoT module for use in the 450 MHz band to achieve RED certification
- 26dBm output power helps ensure reliable connectivity for smart metering, smart grids, smart cities and smart agriculture devices -- even when deep inside buildings
https://www.prnewswire.com/news-releases/telit-me310g1-w2-lte-mnb-iot-module-for-450-mhz-receives-red-certification-301192483.html
UBlox paper could be worth a lot more than the market thinks, their SP is currently very low based on historical valuations, so merger would more than likely create savings and other synergies. Telits and U Blox IOT market still high growth so I favour the merger at the right price 300p un paper would seem fair.
offer on the table is actually paper. value tbc by the market.
D-bay sounded out by Telit BOD now sulking!...
Re. RNS..Someone just bought 509,000 shares for 199.27p and price goes down to 192.50p, Offer on table for 250p in u-blox shares. Doesn't make sense, who's manipulating the SP?
Well pleased with our response.
A well worded and reasoned response from our BOD in plain English you are trying to get a bargain, and we are having non of it, come back with realistic offers and we'll talk about it.
The BOD statement is spot on. They think the offer from Dbay is oppotunistic and significantly undervalues the company and is not in the interest of both large and small shareholders..
fantastic
Statement re possible offer
Telit Communications PLC ("Telit" or the "Company") notes DBAY Advisers Limited's ("DBAY") two announcements on Friday 4 December 2020. The first announcement at 07:00 (GMT) stated that it was considering a possible offer of £1.90 per Telit share to be made by funds under the management of DBAY. The second announcement at 11:06 (GMT) stated that it had bought 471,516 Telit shares and the highest price paid was £1.948 per share and accordingly, under the rules of the Code, any offer would therefore need to be at or above this price.
The Board of Telit believes that an offer at £1.948 per Telit share would fundamentally undervalue Telit. As highlighted in the trading update released on 10 November 2020, Telit has shown resilience despite continued lockdown measures across the Company's markets and the impact of the pandemic on customer spending. This resilience, allied with the Board's belief that the equity markets have not yet embedded the fundamental governance, strategic, operating and financial changes in Telit since the events of 2017, informs the Board's view that Telit remains undervalued.
The Board also notes DBAY's comments about the proposal from u-blox Holding AG ("u-blox"). The Board believes that the industrial logic in a combination with u-blox could create value for shareholders of both companies. However, any combination would need to be on terms that reflect Telit's financial performance and position and be structured in a way that ensures the benefits of the combination would be delivered.
Telit is continuing commercial discussions with both u-blox and DBAY with a view to ensuring that any possible transaction with either party would be in the best interests of all shareholders, whether large or small.
There can be no certainty that a firm offer will be made for the Company by either DBAY or u-blox. There can be no certainty as to the terms of any offer made by u-blox, if made.
their