Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Excellent. DBay still have 29%, bought at 150p, and a seat on the board. Presumably the sp will be held at that until they exit that position. Look forward to an rns confirming a reduction in the holding.
Completely agree. Looking forward to the interims on 13.9 following the positive trading update.
Just imagine how galling it would have been if a windfall were to materialize from the VW emissions claims.
Glad the takeover has fallen through. 150p too cheap and wouldn’t have been in the best interest of shareholders. The offer actually put a lid on the share price. We were at around 185p before COVID, and now at 140p. There are now more cars on the road, and there are the vw cases that weren’t priced in previously. Back to 200p by Xmas.
well its the 18th. after hours rns?
Discussions between the parties remain ongoing and in accordance with Rule 2.6(c) of the Code, the Company has requested, and the Panel on Takeovers and Mergers (the "Takeover Panel") has consented to, an extension to the deadline by which DBAY is required either to announce a firm intention to make an offer for Anexo in accordance with Rule 2.7 of the Code or to announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. Such announcement must now be made by not later than 5.00pm on 18 August 2021. This deadline can be extended by the Board of Anexo, with the consent of the Takeover Panel.
In accordance with Rule 2.6(a) of the Code, DBAY must, by no later than 5.00 p.m. on 21 July 2021, either announce a firm intention to make an offer for Anexo in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline may be extended with the consent of the Panel in accordance with Rule 2.6(c) of the Code.
End of play Wednesday DBay have to confirm whether they wish to proceed with a takeover or retract it. I'm hoping the directors will at least squeeze a little more out of them as 150p seems far too low.
I wondered about this too and rang the Company, who told me that this declaration was made under instruction from the Takeover Panel on technical grounds; but they made it clear that no decision has yet been taken as to whether these Directors are going to be joint offerors. Presumably any such decision will be dependent on terms, as and when these are forthcoming.
https://www.londonstockexchange.com/news-article/market-news/form-8-opd-anexo-group-plc/15046375
Joint Offerors - DBAY Advisors Limited, Samantha Moss and Alan Sellers - own between them 64.01% of the shares in issue.
This from the 23 June RNS -
"While the structure of the possible offer is not yet confirmed, the status of Alan Sellers, Executive Chairman, and Samantha Moss, Managing Director, Bond Turner, as joint offerors to DBAY's possible offer is under consideration."
So presumably the status of Alan Sellers and Samantha Moss is no longer "under consideration"?
Someone's just dumped 2 million shares. I wonder who and why?
Nd
Private equity bid approach for Anexo:
https://www.investorschronicle.co.uk/ideas/2021/06/25/bargain-shares-profit-from-a-bid-situation-and-a-repeat-buying-opportunity/
"So, having included Anexo’s shares, at 136.9p, in my 2021 Bargain Shares portfolio, I would sit tight and await developments. Hold."
No comment from ST in this week's IC. Shame.
Nd
10 comments on this board since takeover RNS released. Shows how overlooked this business is doesn't it!? There's not much margin left to play with, but there's always a chance the buyout price it could go a little higher (doubt it given NRS stated a price though).
Bought into this following ST recent recommendation in the IC. Be interesting to what his comments are following today's developments.
Nd
Yeah pigs at the trough but bought at 1.44, seems decent risk reward with the 1p div and no stamp duty
Yes, the directors sold 30% directly to DBay for 150p not so long ago, so they knew exactly what they were getting themselves in for - they will have known DBay wanted the whole company given previous history. I just thought for the remaining shares, they would hold out for a lot more than 150p, but no, the directors are just looking after themselves and obviously want a quick exit. I don't think given the shareholder register anything can be done to veto this, or try and raise the price, unless the directors want more.
The Director share sales were to DBAY and listed on LSE and RNS so there has been some relationship and might be a reason for status under consideration. It looks and sounds peculiar.
The SP fell dramatically on a delayed final results announcement last year. The reasons for the delay were never clarified. The market reaction was typical. However, the business seemed to be successful. Then they got caught up by DBay and I suspect that relationship has not been what the founders expected. The SP has drifted for a year.
"the status...under consideration" statement in the RNS about the two founders is a bit odd to me. Do not recall seeing such before.
Weird that management appear to have given up. Cash flows and potential VW cash flows look strong. Surely more people are driving (more rubbish cars) to avoid public transport and that should lead to more business.
Looks they tried to drum up the sp via Yellowstone and it was a miserable failure whereas they could have also tried IMC and others. Feable. Almost like it was on purppose.
I guess DBay are just offering for the company - the BoD don't have to accept. The fact they are entertaining it, shows they are the actual destroyers of shareholder value. This was at about £2 not too long ago, so this is a low ball offer, given the VW cases and the increase in staff to settle the backlog of cases. If prospects looked bleak I could understand it, but if accepted this is for an easy way out for Alan sellers into retirement, not for shareholder benefit.
This is my second encounter with DBay in a company. Destroyers of value. Been here since the initial offering. The founders should have realised this could happen. I did, but the share price has not recovered enough to encourage me to sell. With DBay on the board they are in tricky position. Unlikely anyone else will make an offer.
What a joke…
Buyer stepped in?
Yellowstone had no positive impact, what abut this from 24th May?
https://www.***************************/anexo-group-final-results-investor-presentation-2021/412992537