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The results for year ending July 23 are due to be published in early October. It will be interesting if these are published before or after October 9th which I think is when HIG have to declare if they are to make a formal offer unless extended.
Perhaps HIG would want to go through the published final accounts before confirming an offer or pulling out.
HIG have already stated that they reserve the right to reduce the offer if DX announce a dividend.
Yes I think they've been mid-month before, but no real trend.
Yes the dividend would be interesting, if they did announce then the payment turnaround would have to be a lot quicker than previous.
If the bid was made formally and accepted, from a timing perspective, how does that look for us? do they go off market straight away? thanks again
Ports,
being in the middle of carrying their due diligence wouldn't HIG know or anyway have a good idea about results before they're published?... I am not saying DX would provide them - but being in there and pottering around DX and chatting to this director and that manager while all the time stroking the company cat surely HIG would know much more the result than we'll ever do do prior to publishing
Yes of course e-mail. As there have been a number of rejected proposals they should be pretty famliar with the financials and I'm sure they will have had the proposed finals before they are officially published. I'm not sure they get to know more.. they just have the opportunity to get earlier access, ask questions and drill down when we don't really.
I can't imagine HIG and their advisers are sat in a boardroom at DX HQ doing their DD while the hustle and bustle of running a logistics operation is going on around them.
In my opinion I think HIG probably know if they are going to go ahead with offer. If they are they are probably negotiating with DX about the detail and amount of the proposed offer and the effect of a dividend. It's just the timing of the announcement of that or when the markets are informed if they have decided not to proceed with the offer.
Yes, Ports, I do agree with you. With HIG Is all about details now and I do feel very confident their offer will go ahead. They would have already sorted out the basic essentials they are after by now - likely even from BEFORE their DD started... HIG's proposed sp offer likely was meant to stave off competition... so it very much depends now about whether and if the competition is still sniffing around for their offer price to vary up or down
Very insightful comments.
Attempted to 'pseudo sell' (cant think of how else to describe it) my holding but was unable to do so by any other means than a negotiated order.
In a nutshell would be stuck even if wanted to sell.
So fingers crossed that DD comes up trumps and the proposed figure of 48.5p is offered.
GLA
Trades are being done - Deep... there must be some other reason for not allowing you
I have a trading account with the Halifax Share Dealing Service.
Clutching at straws, but could this be the reason?
Then around 15:45 I was finally allowed to sell, but only in tranches of 10,000.
I'm aware that trades were taking place but cannot explain why I wasn't allowed despite being beyond squeaky clean!
I even phoned up the Halifax and perhaps unsurprisingly they were as useful as a chocolate teapot.
As I wrote recently, long way before I lose those "L" plates.
Appreciate your post "email". Thank you.
Quick update to advise that this morning I am able to sell my entire holding! I give up. : )
Any views on the widening gap between the proposed offer and the current SP and the reason for the SP dropping 2.5p since the announcement?
In my view Deep it's because it is still a "possible offer". You always get the excitement and inflated SP when you hear those words. It's just settled down... if the offer is confirmed I'm sure it will rise closer to the final offer price.
It's quite obvious HIG want the business hence the rejected previous proposals. I think I would be suprised if HIG pulled out now as something substantial would have to have changed recently. The offer price if it comes could still be anywhere north of 45P
Ports, if a bid was made and accepted, do you have any experience of timeline following this?
You've done it again Ports. Many thanks for making perfect sense.
PEng, in terms of the "timeline", this is what Chat GPT spat out.
"The timeline for receiving cash for your shareholding in DX Group Plc after a formal offer is made and accepted by HIG Private Equity can vary.
It typically depends on several factors, including regulatory approvals, shareholder voting processes, and the terms outlined in the offer.
Here is a general outline of the steps involved:
Offer Announcement:
HIG Private Equity would make a formal offer to acquire shares of DX Group Plc.
Shareholder Approval:
Shareholders of DX Group Plc would need to vote on the offer.
This process can take several weeks, and the outcome may influence the timeline.
Regulatory Approvals:
Depending on the jurisdiction and the industry, regulatory authorities may need to review and approve the transaction.
This can add further time to the process.
Settlement Date:
After all necessary approvals and conditions are met, a settlement date is determined. This is when shareholders who accepted the offer can expect to receive payment for their shares.
Payment Processing:
The actual payment process can take several days to weeks, depending on the volume of shareholders and the payment methods used (e.g., electronic funds transfer or checks).
Payment Receipt:
Shareholders should receive their cash payment shortly after the settlement date. The exact timing may vary based on individual circumstances and the terms of the offer."
Not a single word can I take credit for, so please don't shoot the messenger. : )
Onwards and most definitely upwards!
How long is that piece of string PEng. ?
I was involved in one well over ten years ago and I can't even remember exactly how long it all took but it was months rather than weeks before we received any money. Deep's post summed it up pretty well and it takes as long as it takes.
Thanks both, did assume there wouldn’t be a specific timing.
Not long now until we find out either way
I had shares in 2 companies which accepted the takeover terms in the last 4 years. In my experience the time taken from formal offer acceptance to receiving a pay out was around 6-8 weeks depending on whether finance was required. The 48.5p was just an intention to bid and not a foregone conclusion and possibly the reason for the drop in share price. is impatience. Shareholders are required to vote to accept the deal but I foresee the threshold being met if the actual reasonable offer is received. I have my suspicions as to whether 48.5p will be the actual bid, but I believe one will come and we will hear more during October to the nature of the bid. GLA.