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Sheltie , yes agree Poppy has caved in ( I guess because of the uncertainties of the Mike Lynch court case ) and also because secret negotiations with bravo , bravo probably ogffeted her 100 million pounds of shares to lead the new entity , easy for Bravo to bribe one person , We are not Privy to how much she was offered under the table
Qcm again? These clowns shorted at 250 causing the share price to fall to 210 ish.
The biggest position they had was about 0.6% short but they reduced as darktrace recovered. Qcm guy on twitter suggested they still had a short position about a year ago but at this point they almost certainty closed it all
no date on this report aquarianage when was it ?
*****essential capital management is short shares of darktrace plc (“lse: dark”)
not among the shoters i posted below did they close it ?
Lol.
It's all there...
https://www.qcmfunds.com/the-dark-side-of-darktrace/
AquarianAge, I would be interested to hear what evidence you have to back that statement up.
My broker shows a bep of 502p , so a gain for me here that does not seem to of happen often over passed three years.
Looked at dealing history with ( D )
DARKTRACE (WI)
16/08/2022 Sell 520.0
19/05/2022 Buy 319.00
02/11/2021 Buy 670.00
27/10/2021 Buy 700.00
Hindsight first bought on the dip from the spike to 985p 28/9/21 ( a tip maybe from barc )
High since my first buy 19/8/22 just after my sell at 542p..that was the correct call until yesterday .
One were more averaging down would have worked out as lows were 210p January this year.
Luke Bidco will regret it's takeover of Darktrace in the same way that HP regretted it's takeover of Autonomy. Mark my words.
When will these two close these positions .
Open Short Positions in Darktrace
Fund........................................................ % Short Change Date Changed
Cadian Capital Management, Lp.............. 0.53%..... 0.00%.... 24 Apr 2024
Qube Research & Technologies Limited 1.02%.... 0.06%... 19 Apr 2024
Total 1.55%
Sheltie, Totally agree with you here. Poppy has contradicted herself here. On multiple occasions she said that London was the correct place for Darktrace but now claims the company has been sold due to London not being able to value the company correctly. Her solution is to sell the company on the cheap to a predator. She has sold the shareholders down the river in my opinion.
Appendix 7 of the takeover code gives some indication of the timings in a Scheme of Arrangement for takeovers but is heavy reading. I came across a flow diagram based on Australian regulation which is usually similar. For ASIC rear Takeover panel. May be of interest to some. About 107days from start to finish.
https://content.allens.com.au/the-allens-handbook-on-takeovers-in-australia/schemes-of-arrangement/
Litoum - were I invested here myself (I sold in 2023), then I too would probably hold on. Effectively c.£6 is now 'underwritten' by TB and another party 'might' yet come in. I don't personally think anyone else will get involved, but you can't really lose by holding, as you know that you will receive $7.70 (or c.£6). The exchange rate however, is very much worth keeping an eye on; especially for those with large holdings here. All the best to you and others, with the same conundrum to mull over here . . .🫡
Sheltie, I think your right. Everyone was looking through rose tinted glasses yesterday. Thanks for your reasoned and thoughtful insights regarding this stock. I could see it coming. I watch the trading carefully and could see this coming. I posted up a few days ago….the last time the share price was this high TB made an offer. I’m not selling. It’s worth more.
Not so very long ago, having rebuffed TB the first time, Poppy was saying"no, no, no, the London Stock Exchange and London is 100% the place for us". Now a complete 360 change of view! TB will be delighted (cash offers do have their perks for the acquirers!) shareholders in the main, will not be so happy. Pretty much the only PI winners here were those that sold very early on, when it spiked and those that bought in the last six months. Most others? A waste of time being invested here; as you could have made way more money elsewhere, over that same time period. DT has been a big disappointment let's face it, given the price that it floated at and now, where it has ended (c.£6, but depending on what happens with the exchange rate, maybe not even that much). This share just never got going . . .a dark day for Darktrace shareholders. 🤑
The offer not as high as CR888 was looking for when I looked last on 19th July 2023.
Tech investor Thoma Bravo agrees deal for London-listed firm
Price represents 44% premium to three-month average
Darktrace was backed by tech entrepreneur Mike Lynch
Darktrace shares jump 18%
LONDON, April 26 (Reuters) - Private equity firm Thoma Bravo agreed to buy Britain's Darktrace for $5.32 billion in cash on Friday, saying it would use its software expertise to drive growth at the Mike Lynch-backed cybersecurity company.
The agreed offer of $7.75, or around 620 pence, per share represents a 44% premium to Darktrace's three-month average share price, Thoma Bravo said.
Shares in the company, which have doubled over the last year, jumped 18% after the announcement to 608 pence.
Thoma Bravo partner Andrew Almeida said Darktrace was at the "very cutting edge" of cybersecurity.
"Thoma Bravo has been investing exclusively in software for over 20 years and we will bring to bear the full range of our platform, operational expertise and deep experience of cybersecurity in supporting Darktrace's growth," he said.
Founded in 2013 with the backing of entrepreneur Mike Lynch, Darktrace uses artificial intelligence to detect attacks and vulnerabilities inside IT networks.
Earlier in April it raised its forecasts for third time this year, reflecting demand as threats from digital attacks grows.
It listed at 250 pence in 2021.
Despite being the best performer among recent London listings, the stock has lagged U.S. peers, partly due to concerns about Lynch.
He is being tried on fraud charges in the United States over his former company Autonomy. He has denied the charges.
UNDERVALUED ON THE MARKET
Panmure Gordon analyst Harvey Robinson said the price did not reflect any significant synergies, and it could trigger interest from a trade buyer such as Palo Alto.
Thoma Bravo previously approached Darktrace in 2022 but talks did not result in an offer.
Darktrace's board rejected proposed offers from Thoma Bravo before agreeing the deal, according to the statement.
It believed its shares were undervalued and a cash offer offered certainty to investors, the statement said.
As well as commitments from Darktrace's board, Thoma Bravo said it had the backing of a KKR fund and Summit Partners. Combined they represent 14.4% of the shares.
The deal will require support from the holders of 75% of Darktrace's shares.
Thoma Bravo, which bought British software firm Sophos for $3.9 billion in 2020, said it intended to keep Darktrace headquartered in Britain.
Lynch, who has no longer has any role at Darktrace, owns 3.9% while his wife owns 2.9%, according to LSEG data.
Thoma Bravo was advised by Goldman Sachs and Darktrace was advised by Jefferies and Qatalyst Partners. (Reporting Paul Sandle in London and Yadarisa Shabong in Bengaluru and ; Editing by Mrigank Dhaniwala, Sarah Young and David Evans)
Sound man
/ good comments
How is the time line for a vote , and the last date another buyer can offer ?
there may or may not be other bids
the exchange rate may move in our favour or against (why the hell are they accepting a bid in usd anyway?)
the shareholders may vote for or against it.
the above are facts, ie, wait and see.
most of what i'm reading below is opinion (or agenda) stated as fact. ie, *******s.
Yes 27 million not a lot of shares , the Usdollar to pound exchange rate might not move in our favour
The offer fixed in US dollar and the pound might strength towards 126 or 127 ? Which means 610 to 615
I wonder if another bidder will come or this is it
I put in all my sell orders at 620 & they cleared at 08:45
So far hard to see who else might buy.... how much time before a vote?
620p could be it, but FT articles confirm other bids may or may not happen
Is anyone familiar with Takeover rules
I think the ongoing ML court case did not help Poppoy hold out for more
HomTanks26 Apr '24 - 17:42 - 4127 of 4127
0 1 0
1011 the VC investors in Dark Trace have in recent months bought into Device Authority an investee of Tern plc (TERN) might be worth a look for the next cyber security opportunity.
htTps://www.1011vc.com/portfolio/darktrace/
htTps://www.1011vc.com/portfolio/device-authority/
Thanks, Stevie, it's been a pleasure. And yes, I have doubled my investment, if all lands safely.
I'll be sure to keep an eye out for you - and drop by to say hello. That book is going to be frequently well-read. Take care.
Disagree buster123 - Given the original flotation price and the constant negative press coverage that this company has endured; the big Funds and Pension companies will definitely vote "yes". They will take their millions and move on. 100% TB will win here
The decision as to whether Darktrace offer will be accepted will not be down to individual shareholders, it will be down to the pension and unit trust and investment companies at the flotation 81.74% was held by institutions and the largest I have found is First Trust which held 4.34% of the company on the 29th of Feb this year 31 million shares.
This will be decided in the coming weeks and my guess is it will be rejected by the pension funds as been opportunistic.