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From what I can see today's RNS means that the company is getting on with what is required for the Verne sale and sorting out the liquidity problem although still waiting for regulatory approval. Hardly surprising that the lenders aren't objecting to something that will get them their money back however still good to have that box ticked and also, unless I've missed something, they don't seem to be demanding an extra pound of flesh for their trouble.
To me this all seems good but not game changing. Has anyone spotted any devils in the details that I have missed?
Just that it trades below 20% of NAV...
It's mindlessly discounted at the moment, I expect approval to be a formality
Verne approved, game on here...liquidity issues evaporated in one RNS
Indeed so … wonder what the gap up will be - minus 10% given the current UK market? …;)
“ Although, at this stage, the Change of Control Consent is still conditional, the Company is confident that all conditions which will need to be met have either already been satisfied or will be satisfied shortly before completion of the Verne Transaction.‘
Errr so what more is needed? Jesus wept these “managers” are idiots.
Ha yeah, should see us down a round 10% I should say..dear oh dear..my sentiments exactly though, UK market is beyond a joke. All the t/o bids are scooping up assets at 60% premiums plus and they still get half price assets. Just to reiterate this trades on less than a 5th of NAV by my reckoning....the towers business.. Arqiva... at full value trades far more cheaply than it's peers...so explain to me why now with this news of Verne sale is this being hammered..rates will go lower and this will look crazy cheap..very soon!
I reckon myself arqiva will IPO … as was intended in 2017 … delayed by Brexit uncertainty, but will take a while to complete … but will likely reward holders going forwards.
Could well be what they have in mind. I don't fully understand how this share trades tbh, it doesn't move with logic
Hedge funds … with a share like this it’s a game of bluff … value is meaningless IMO … took 23.5p at open got 24.5p after auction .. could go back down to 20p or up to 30p … the big players know … we RIs do not.
ToD, I agree "value is meaningless IMO" in the very short term. This is not a share to day trade since you will be at an information disadvantage.
However in the longer term it is everything. Given that the liquidity problem has been dealt with this is the lowest risk way to double my money over the next 3-5 years I can find at the moment. Definitely one to buy and hold. It is currently the largest position in my portfolio and the one I will lose the least sleep over.
RNS 8th February: "the Icelandic Regulatory Approval, has decided to open a "Phase II investigation" into the Verne Transaction". This spooked investors because of the possibility of a delay or no sale. Share price crashes (further!).
RNS 6th March: "unconditional merger control approval in Iceland was granted on 5 March 2024". Problem from 8th February solved, share price jumps up.
Sort of logical except that the crash on 8th Feb was an over reaction.
" or will be satisfied shortly before completion of the verne transaction.‘"
the management are presumably trying to say that the deal is not over until its signed .... but what a ********" way to make the statement .... and that's the problem .... the deals themselves bought by dgi9 seemed good value .... but to get caught out by interest rates rising is poor.
" This is not a share to day trade" ... maybe a buy and hold now .... but I was buying 17-19 and selling 18-20 for a few weeks.... although was somewhat stunned by the intraday drop to 14por so ...... such is the market.
Adrian could pay off the revolving loan and buy out digital 9 entirely...based on current price...absurd. Aquiva is undervalued as it stands too imo.