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Hi People
I am surprised, this company is now a takeover play. Sycamore are serious and wealthy investors. Any bid would shake other wealthy investors out ( a certain wealthy existing investor ? ). It was all over the weekend press both Saturday and Sunday.
The share price was £1.60 six months ago. £2 a year ago and over £4 in jan 20.
The company has put problems behind it and is heading towards profits and is a great Brand, now this has been published the share price I feel would stick at around current level without any bid.
To succeed any offer would have to be north of £2. So this looks exciting to me,
What surprise’s me is that today on here there has been 7 posts! More RNS than posts. 1238 trades and the company monitoring all significant trades ready for a takeover bid ? Yet next to no comments. Just seems strange.
Still I’m excited, I’m working in markets everyday and am looking forward to see where this goes.
Salmac I agree if you sycamore there is no better time to go in for a bid than now, with the ceo gone and SP at its lowest (I.e before Fridays news) since covid 1st lockdown. Lets hope the BOD don't try and sell investors out cheap or attempt too
Yes, on your comment about the BOD the issue here and why this has become a potential target is due to the unfortunate passing of John Barton, the chairman who would have had the knowledge to scrutinize any takeover. Now there is an interim Chairman who may not have the experience or even the incentive to be very concerned about what is offered. But as people have also mentioned Ted has a heavily invested group of institutional’s who id like to think will not allow a poor offer. Will be an interesting few weeks - I believe sycamore have until mid April to officially make an offer.
1.30 close I reckon :-)
Form 8.3 does not provide any insight to overall average price paid. Section 3 (a) simply provides dealing disclosure info for the previous day and any such dealings must be notified each day by 3.30pm moving forward whilst this process unfolds
who is going to swoop on VIC & CURY - makes them another interesting play too?
Agree that IIs are unllikely to agree to a low offer and content to enjoy the ride.
Recoovery, rerating and a dividend returns in a year or so, this one is a keeper at these levels.
A bid only unlines the potential here.
That said I have an extremely low average cost so can afford to laissez faire.
GLA
According to figs posted here the IIs hold something like 83% of shares. This is extraordinarily high and given the status and expertise of these holders I wouldn't expect any low-ball offer, from anyone, to get the nod from them - regardless of press speculation regarding expertise of BOD. By the same token, assuming IIs expect to hold pro tem then liquidity is very low in trading this stock - hence might anticipate sudden and large movements in price.
Going down quite a lot from today's high of 137, don't know what is happening.
oh dear back under the 200DMA at 125p!
long time no see BTFATH1.
Tosca offeree hmmm very interesting:-)
Those who own over 1% listed below. I will try and work out average prices if possible later but may be too bigger task...
Toscafund Asset Management LLP 27.01%
Schroder Investment Management Limited 12.5%
Raymond Kelvin 11.78%
Columbia Management Investment Advisers, LLC 9.49%
Legal & General Investment Management Limited 3.58%
Norges Bank Investment Management 2.9%
FMR LLC 2.8%
River and Mercantile Asset Management LLP 2.53%
Jupiter Fund Management Plc 1.81%
JPMorgan Chase & Co, Private Banking and Investment Banking Investments 1.7%
Goldman Sachs Group, Investment Banking and Securities Investments 1.4%
UBS Asset Management 1.39%
Artemis Investment Management LLP 1.3%
HSBC Global Asset Management (UK) Limited 1.25%
HBOS Investment Fund Managers Limited 1.09%
Barclays Bank PLC, Wealth and Investment Management Division 1.09%
The last one didn't but in other updates they are listed where there are other transactions. I have also been looking through previous holdings in companies RNSs as I'm interested to know where this goes.
thanks for the info where does it say price payed that box is empty.
Thanks ForeverNever, def interesting days ahead
The issue here is that all major holders were in at 1.15. So even if we feel 2 gbp is not best value the fund managers may want to take it and move on.
Keep a look out at all the form 8.3 updates as it will show holders and price paid.
It's a disclosure form for opening positions required for companies that are subject to takeover.
This is getting quite interesting and I'm very suprised has not moved more.
Next few days could be telling.
There was an article out over the weekend saying the BoD are relevantly inexperienced and may end up giving the company away for less than it's worth. I hope this doesn't happen.
Hi
What are these form 8.3 rns that keep popping up? Sorry if this is a obvious question, but if you don’t know you don’t know, and I don’t know :)
Thanks
maybe £1.50 by end of play today - Thumbs up :)
this will be above £1.50 by Wednesday
Only been in this stock for 12 months been under water for most of it was just holding until the good times come back
next week will be interesting i agree - i still think if they are serious its £2 + and they know it
I'd be looking for 10% everyday this week - and more next week.
Lots of trades going through with not a lot of shares in free float.
Just a shame there are no long term posters here.
i am looking for 10% today ,
As TED is the real deal and very undervalued at these levels.