Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Paid out today lost about £57.50 adding and subtracting monies in and out.
Got the 3875p
I have waited 7 months for this cash .
2/6/23 LOWER OFFER OF 3875p EXCEPTED, price 6/6/23 3636p ( 3636 to 3875 is 6.85% )
Notes .
24/5/23 FALL TO 3102 .
The first offer must of been pulled.
14/4/23 Showing 35% up ( D ) to 3770p
Offer in 4070
14/4/23 Bought for 3700 ( -9 % ) have lots of spare funds .
This is going to rise slowly towards the deal price….now only 1% off. Think I will sell, but what to buy…..I can get 250 CVSG for each 100 DPH, still veterinary and currently suppressed by CMA enquiry, or just stick it in a Tech fund?
What are others doing?
I’ve cashed in my holding. There does not seem to be any interest from a rival bidder, the SP is in a very tight range and, although I could wait and allow for a natural conclusion, there is an opportunity cost to consider.
No decision on placing of the proceeds, suffice that it has filled our respective ISA wrappers and triggered a capital gain. I’m sure I have a few duffers to mitigate but may good fortune extend to all investors.
The results are tomorrow, but will be meaningless as this edges towards the deal completion. Most deals allow any divi to be deducted from the offer price, so i expect they will not declare a dividend….they may give some further detail on the expected timing….
Now only a couple of percent below the offer price…while that is a safe return it may take 6 months which may not be attractive for some…..definitely entering the time to sell zone.
Thanks Alas; this is v helpful. All things considered, I think I'll sell now.
The Scheme Document https://www.lse.co.uk/rns/DPH/publication-of-scheme-document-fqb6n4ao1xkdavs.html sets out the timetable and on 20 July subject to vote.
As it is expected to complete either at the end of 2023 or the early part of 2024, I am waiting until there is more information before making a decision. FWIW, I would prefer that it is settled in the current tax year as it will take up the full CGT allowance for both self and wife. I have not yet funded ISA wrappers for this year. Oh, and there may be a dividend paid in October, of course to consider.
Sell now or wait until deal is closed? Thoughts?
Certainly the current expected return (assuming the deal happens on these turns is much better than a deposit account….such deals are hard to arrange so both parties are unlikely to go back to negotiate a lower price…
On reflection I was being a bit greedy wanting 99% of the deal value… I doubt there are many competition issues, but the various local regulators will need their time to clear the deal. The SP will undoubtedly rise as these approvals come through…
Market price too low and if it falls further I will buy more as it is almost a guaranteed return.
Up to 9 months to wait for the cash is worth around 3% so anything above £38 in the market looks worthwhile taking to me. Where to invest next - I still like travel and leisure which will get a boost from the post covid holiday boom and lower oil prices.
The SP will be slightly lower than the offer prior to completion, I will sell when I can get 3850 rather than wait for the final settlement in x months time.
The question is where to reinvest?
Its here, £2 less than originally mooted but for me, given the state of the markets in general and the recent trading by dph it is a decent result.
Bloomberg reporting discussion of a lower offer late yesterday.
On bloomberg tv...its just said,a deal with EQT is near.
Tomorrow is decision day…..unless it is delayed again.
£6 gain or £9 fall…..and all points in between are possible…
Share in auction just now - not looking good!
"Without the potential bid this would now be around £25.00."
It was trading around the £25.50 support only a few days before the offer, today's news would have likely sent it lower. The offer has very conveniently supported the share price...
And lays the ground for a lower offer….or corralling shareholders to vote for.
Without the potential bid this would now be around £25.00.
There will be plenty of nervousness now about whether a bid will emerge….
Trading update is not great - likely knock a few p off sp.
Now delayed until 2 June……
ADIA and EQT funding is almost certainly not an issue, so I think an offer is likely unless due diligence throws up some major issue with the underlying business
The bounce today reverses a bit of nervousness in the last few days that an offer may not be forthcoming.
The intentions of EQT should be clearer this week. The Takeover Panel deadline for an offer is on Thursday at 5pm……they can apply for an extension
Thanks Alas_Smith. Appreciate your input
Topped up 3700 9 % below the offer .
It is simply an Open Holding Disclosure form which is required to be published when there is a takeover and shows the material interest from institutions. While an interest exceeding 3% is notifiable, holdings below are not and provide useful information to all shareholders, the offerree and takeover panel.
Can anyone shed some light on the RNS Form 8.3 disclosures today?
Is it a requirement for all significant share holders to provide a RNS when a there is a potential buy out as I can't believe these shares were floating around waiting to be picked up and the RNS have been issued as a result of changes in holdings today. I note that Royal London Asset Management Ltd sold 17,763 shares at 27.2063 yesterday. Am I reading it correctly that someone managed to accumulate those shares at a very good price and started building their holding prior to todays announcement?