Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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In a way, I hope it’s a “no offer has been put forward” RNS and close this period off (unless big premium caveat!). Just one thing that concerns me, has this given some of the employees the jitters? Anyway, let’s see what tomorrow brings.
Odds on for another extension. If an offer was expected by 24 Jan, I would expect to be higher, nothing is leak proof, but you never know. Either way its a keeper
Deadline is fast approaching, some institutional movement over the last few days, but not significant. I have always said that I would prefer them to remain independent, but there is a price for everything. Would not be happy if they sold out for less than £1.75, anything less and we giving the Company away.
I note there is a positive update from Paul Hill on V O X. He suggests win win regards possible takeover or continue growth with European expansion. It seems SP dip this morning might relate to below comment in Paul's article;
"While 2H EBITDA margins (est 19.9%) dipped slightly compared to 1H (21.8%), this was likely a reflection of ongoing investment in the tech platform and overseas expansion (e.g. Belgium acquisition in June)"
Happy with that. 2024 should see revenue over 100m. Maybe quite a bit more if Europe gets going. Don’t think we will hear from the team as we’re in a takeover situation.
Thanks fella - Hope for strong results to assist share price and potential take over.
GLA
Oakham, we are due a trading update for last 3 months (see below) this slipped as was due this last week;
https://www.equalsplc.com/content/investors/important-dates
Hi Dubliner,
Thank-you for your comments very helpful, I see final year results 25th March.
What results are due next week ? I’ve checked on the investors tab as well on the Equals website.
Appreciate your time fell
Hi Oakham, I guess it will remain quiet on possible takeover until they decide if they are interested in making a formal bid or not. Not the type of thing where we will get commentary on progress.
We get trading update this coming week and that is the think to focus on now. Hoping for solid numbers and some initial progress on Equals Money Europe. Good news should ensure we get a decent price for any possible takeover.
Hoping we see usual V O X interview and/or something via IM platform.
GLA
What’s people’s thoughts on the possible takeover situation? A week Wednesday is the deadline and was hoping for a bit of communication…
What’s everyone’s thoughts ?
Yes not reading much in to it, just thought I was cracking up when I looked this morning.
Strange thing to do, however lots of people still on xmas leave. Guess they need more prep time
They have just updated it to w/c 15th Jan!
Is it me? The information about the update w/c 8th Jan has gone from the website.
'Why extend again and for a short period of time.[?]'
Because if an extension is to be made it can ONLY be given for a period of 28 days as per the Takeover Code (Ref: https://code.thetakeoverpanel.org.uk/tp)
I am hopeful the upcoming trading update (w/c 8th Jan 24) will be well received.
In the half year results RNS we had this statement;
‘“The first half of 2023 saw strong growth which has continued into Q3 despite an uncertain macroeconomic environment. Given the current trading, and a robust sales pipeline, we look to the future with increased confidence, and we expect to be ahead of expectations for the full year”
They have advised numerous times since then that trading is in line with the Board’s expectations so fingers crossed. Strong results should mean we don’t succumb to a low bid.
Interesting situation. Last year Smv received several enquiries without a firm bid and subsequently got taken over 6 months later after several extensions for only 1 seriously interested offer for cash. Smv was never going to have a wide appeal. Eqls seems in a far stronger situation in that they are happy to walk away if a deal is not forthcoming, but they are also in a highly competitive and crowded sector, so if a big company feels they will gain a strategic advantage by acquiring Eqls they should give a decent premium . Could go on for while yet I think. Wouldn’t rule out someone else crashing the party , given slightly better economic outlook.
Due to the nature of the extension I expect an offer to be made. Why extend again and for a short period of time. Feels like they just need more time to agree final details. If there was no deal to be had I would have expected talks to be ended at this point
This extension was expected. I for one would prefer the Company to remain independent but discussions are clearly extensive and I do anticipate a formal bid.
Another extension to the 24th of January
https://www.londonstockexchange.com/news-article/EQLS/strategic-review-update-and-pusu-extension/16266973
Yes from 29th Nov RNS we had this statement;
"In the light of this request, an extension has been granted by the Panel and, in accordance with Rule 2.6(a) of the Code, Madison Dearborn Partners LLC is required, by not later than 5.00 pm on 27 December 2023, either to announce a firm intention to make an offer in accordance with Rule 2.7 of the Code or to announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This revised PUSU Deadline may be extended with the consent of the Panel, at Equals' request, in accordance with Rule 2.6(c) of the Code"
I guess folks are surmising that if MDP LLC wanted to do the deal we might have heard by now and therefore are taking some off the table (aka selling a few). If there is no deal the SP will likely ease back further but I believe that would be a buying opportunity ahead of the Jan Trading Update which management have guided should be in line with their expectations.
This is AIMHO and good luck to holders here whichever way this goes.
There is an RNS due by 5pm today with an update but I haven't seen anything so far.
The one you are referencing is not it.
Hi everyone
Please can someone explain what is going on and how it is impacting SP
I see “bid situation” on HGL and the price has dropped. Yes have read RNS but would be helpful to understand what is really happening here
Thank you
Chucky sells after 11…..
Some chucky buys this morning. Not many working days before the next deadline, extension again? I do still hope that this stays as is (unless a big premium).