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There's still 500k on the ask at 9.72. That's over 0.5% of the company.
iis will defo wait to see how it pans out so whose shares are they?
The last thing the BOD want is for the price to go over 10p - cause it means the market is putting 2 fingers up to them.
If the ask dries up later, points to the directors.
Clearly this leaks aka yesterdays miracle buy - probably find out it was the directors or Hanover - and that purchase is the supply. [yes, I've changed my mind in the space of a sentence!]
Twists and turns but there is a big prize to play for aka the bullish outlook posted by Jarv.
Call us on: +44 (0)20 3301 1200
Email us: marketing@bradyplc.com
time to email the company get the share register updated
And just maybe the large buys are the instis adding
Check just above this message - not saying its accurate
Jimzi My understanding is that the BOD do not hold any shares----only options.
A former Director Robert Brady does hold, but he left the BOD some years ago.
Which current Directors hold shares? FD recently confirmed to me no holdings by Directors.
And ladies
the directors have around 1.5m shares.
Bet you thats where the liquidity is coming from - this could get nice and ugly - pull up your armchair gents
Quite - gauranteed 5% [ cause the BOD are in trouble if this one goes awry] with a free chance of 20, 30 or x% uplift.
Sellers will dry up soon after they have put their gains into real gamble stocks !
The market eventually becomes rational.
I agree LB28, 10p looks likely whatever happens, and there probably isn't anything for anyone to worry about providing everything is wrapped up in time, which it looks like it will be. My only point is that if the board are complicit in dragging the SP down to where it is and potentially in bed with the bidder, there's no reason to get too excited about a higher offer coming to fruition.
.......and as I said before the board is not obliged to accept any offers of cash from shareholders or put to a vote any bids from any bidder they don't want to.
Alwayswinning these are professional equity managers who could eat the bod for breakfast do you think they are going to be scared? Lets see what happens in the next few weeks eh?
I agree Jarv55. From what I can see though, it appears the board want the company in this "dangerous" position. The board only has to be able to scare 50% of shareholders/traders into voting for the deal at 10p to get want they potentially want.
alwayswinning do you think the big share holders are going to allow a wipe out? come on they could buy this themselves and not even blink.
Not registered there though - doc says outside US jurisdiction.
Looks like a VC wanting to flip it after a respectful period.
So they are a Us based firm by the looks of it
https://www.palico.com/funds/hanover-active-equity-fund-ii/4b0aaf1503394a3abdb14b93b8f0e5c0
Kestrel Partners LLP 22,553,180 27.1%
Coltrane Asset Management LP 14,895,395 17.9%
Hargreave Hale Ltd. 8,898,600 10.7%
Herald Investment Management Ltd. 7,728,026 9.27%
Joel Isaac Koschitzky 5,514,003 6.61%
Killik & Co. LLP 3,537,970 4.24%
Schroder & Co Bank AG (Private Banking) 3,266,186 3.92%
Octopus Investments Ltd. 2,506,000 3.01%
Livingbridge VC LLP 2,258,000 2.71%
Gresham House Asset Management Ltd. 1,700,601 2.04%
I would expect them to update their share register because this ins't right https://www.marketscreener.com/BRADY-PLC-4004734/company/
Yes, to agree to an offer that is put to a vote in the first place that is Jarv55. The current offer will most certainly go to a vote, but the board can pick and choose which (if any) subsequent offers they put to a vote. If the choice they give shareholders is 10p or wipe out shareholders would almost certainly take it. Given the timings of the current offer, it would appear the board are working closely with the bidder, which doesn't exactly fill you with confidence.
You can see why they want it
Brady PLC is the largest independent provider of trading, risk and supply chain management software to the global commodity and energy markets.
Each year, businesses around the world depend on Brady systems to transact trillions of USD worth of trades. With 30 years of expertise in multi commodity markets and more than 10,000 users at over 200 companies worldwide, our software solutions are relied upon to deliver mission critical business transactions across global operations.?
and at this price, Hanover will start buying shares - saves them 8%
always winning the vote has to be over 50% to agree
Brady plc (BRY.L), a leading global provider of trading, risk management and settlement solutions to the energy and commodities sectors, announces that, over the course of the first half of 2019, Brady has had positive engagements with existing customers, and the recurring revenue is in line with expectations. However, the pipeline of revenue from new customers forecasted will not materialise during fiscal 2019, although new business bookings are anticipated in the second half. As such, the Board has concluded that full year revenue will be circa £19m, and this will have a consequent impact on EBITDA performance.
The turnaround of the business since the appointment of Carmen Carey as CEO has continued to build momentum focused on customer engagements, delivering major contracts and maturing the new business pipeline. In addition, the strategic product review has concluded, informing the going forward business strategy to align, optimise and advance the product portfolio and conclude the transformation work underway when Carey joined.
When a board is working against it's own shareholders I don't think there's ever much reason to be hopeful. So, even if a counter offer comes in, the board could choose to simply ignore it or say they didn't agree to the terms and insist that the current deal is what's best for everyone.
Without a doubt the BOD have orchestrated such a scenario you pose.
[job security which they won't necessarily have from another offeree for example] so its down the the 88% ii holders - can they be bothered - and/or someone like ION. Good news is that the iis can pick up the phone to other parties unlike us PIs
Nice place to be in though at 9.25p and a great soap opera style share and yes, further news can lands at any time now