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My view is this is a binary bet /recovery play - so long as the present incumbents don't crash the firm or go on some buying frenzy, then either they're going to be able to make some money (unlikely given their track record) or someone else - an activist investor or a takeover, will come forward and put them out of their /our misery.
I posted in early Jan that this has to be a prime bid target for 2021, given that the SP was on the floor, the business sector is fundamentally sound and plus there is a lot of private equity /borrowed money looking to invest in these types of assets /opportunities.
Timing wise, I don't believe that EQN will be around at the end of year and if it is, I don't believe it will be priced lower than this.
Those may be famous last words, but at least with the rest of the market gone to poo, I don't (today) feel as if I'm missing out from being invested anywhere else.
Paul
"Balls deep" :). Bid better be on it's way.
To be up on a market down day like today, it suggests that something is keeping people on board (though I guess if you sold, what else would you put the money into at the moment).
Although I'm currently slightly down on my cost here, when I went balls deep a few weeks ago, I used funds released from FRES and IMB so currently am better off here than if I were still there!
Having sold out on the spike on the 9th I'm now back in. The price seems to be bubbling up as I type and with the results next month the board will be under pressure to come clean on the background events.
The annual results are scheduled for 11th March so, assuming the BOD remember to get up /turn up that day, then presumably they will have to justify their position at that stage, if not before?
If they shoot the lights out (unlikely with this lot) then great. Otherwise, this is likely to be their last chance at presenting the results as someone else will doing the job for them next year.
Looking perky today, when will the Board comment on the share spike? Is there an agreed bit about to be announced? Anyone here have any updates or views. This seems a lonely board. DYOR
Been a bit quiet and no denials from either party. Looking like an agreed bid perhaps or at least a statement with the reuilts saying bid undervalues the company. Sky is impeccable with these type of leaks. DYOR
From the EQN website; 'Our people and platforms engage customers with investments'
umm, no you don't - I'm still waiting to hear from you what is going on.
So true. All fixed. However I have given this credence and will top up more is if drops towards 120p or below. Company is just waiting with a big sale sign over it shares.
The silence from the Board is shameful unless they are finalising an agreed bid.
GLA
DYOR
Ft link?
As mentioned previously, probably a ramp and thus a false market. Don't hold your breath expecting the FCA to investigate.
Just looking through their last RNS’s; when Sky News reported the potential disposal re II on the Sunday in Jan (much smaller), they RNS’ed the next morning before market open so no comment this time is just strange
95% chance a bid is being tabled as the silence since the press report indicates something is afoot imv.
I would have at least expected either ‘no reason for price movement’ or response to press spec RNS given recent volatility in the share price ....
Thanks for all the replies. GLA.
IMHO anything south of 1.90 (the price of Rights Issue when EQN purchased the Wells Fargo share dealing in 2017) represents a 'value' discount to investors in todays climate.
With no notable increases of shares in circulation (outside Director bonuses and Employee Schemes) since that date the true Market Cap should be hovering around £700m (even allowing for Covid) - and the outgoing CEO had always publically said it was potentially worth £1BN (more than enough to be back in the FTSE 250 where it belongs) with his intention of entering FTSE 100 within a 5-10 year timeline.
EQN have relationships with 70% of the FTSE 100 - and that in itself is something any potential bidder will know the true value of, let alone the insight they would get through it's Boardroom and Share Dealing divisions.
Sure - the price has been beaten up during the pandemic, and some will argue it was already beaten up before, but we all know Private Equity firms are the modern day bandits, so whilst Sky News might post 'an offer' it doesn't mean it's going anywhere.
Management should stay strong and stand their ground here (as should shareholders in any voting) anything less than £2.50 per share is simply selling themselves down the river.
In the interest of openness, I've been DCA adding below £2.40 for 5 years (most sizably below £1.25) and trading the odd peak and trough - anyone fortunate to sell the 2017 / 2018 highs above £3 will surely have taken advantage of any sub 1.20 re-entry opportunities.
Neither EQN nor Siris have denied the strong Sky news report of proposed 170p bid. Disgraceful that EQN has made no response, 36 hours after this proposal was Skyed - false market? 170p represents over 40% premium to 110/120 trading range over recent weeks and compares to IPO price of 165p five years ago.
Although current trading under Covid pressure, I suggest long term EQN's prospects look pretty sound and I guess fair chance of auction developing once some announcement made.
This a reasonable proposal from a creditable source and IMO Board has duty to engage.
With lucky timing I sold my holding in March 2018 and have been watching for a possible re-entry ever since. But the perception of incompetence always put me off and I do not believe the current management can drive the business to warrant a higher share price than what acquirers may be thinking.
Not a holder, yet....genuine question...
Is this a buy on the wait for the bid or a busted bid rumour already? Sky are normally close to the mark.
Any view out there as I am tempted to start to average in. I do not follow this company usually so a quick heads up woul db e useful from those who trade this regularly. Thanks in advance.