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Not great but a way out.........
Whoever is out there I remain in UK stocks including this company and await some information via RNS of business progress and planned ideas from Hanover. Any thoughts?
From Escher website. Not many individual holders unless your in one of following: Major Shareholders (rounded to nearest thousand) Holder Number of Ordinary Shares Percentage of Issued Capital Liam Church 895 4.8% Fionnuala Higgins 895 4.8% The Company has been notified of the following significant holdings of Ordinary Shares: Holder Number of Ordinary Shares Percentage of Issued Capital Hanover Investors Management LLP 4,776 25.4% Business Growth Fund (BGF) 2,759 14.7% Legal & General 2,407 12.8% Living Bridge 1,339 7.1% Hargreave Hale 1,059 5.6% Octopus Asset Management 1,031 5.5% Bernard Somers 846 4.5% Bachantes 610 3.3% Alto Invest 609 3.2% John Quinn 588 3.1% Note: Liam Church and Fionnuala Higgins are married. Furthermore management previously owned B Shares and had no voting rights, these converted into A shares on AIM admission. This information is current as at 30 June 2017. There are no restrictions imposed upon the transfer of the shares of the Company. SECURITIES IN ISSUE
Hi driveat15 Article was in the Sunday Times 2 July 17. Found it while searching Internet for info on major holder. Not sure how they operate though. Guess it might be a wait and see situation. My Portfolio has Seen more downward trends of late and now seriously thinking of liquidating portfolio of 45 UK holdings and sitting on the side lines. What are your thoughts on the UK market?
Where/when was this published please?
A specialist turnaround fund has built up a 25% stake in Dublin-based Escher Group, a quoted provider of technology to post offices, after senior management offloaded shares in the company. The Hanover Active Equity Fund recently spent £4.6m (€5.2m) buying 2.3m shares in Escher, almost doubling its stake in the London-quoted company. The UK fund, headed by former banker Matthew Peacock, describes itself as a specialist in “active interventions” in small and mid-cap public companies, in order to “unlock or unblock shareholder value creation”. Hanover scooped up the shares after Escher president and chief executive Liam Church and chief commercial officer Fionnuala Higgins both sold off more than half their shares in the company. Church and Higgins led a management buyout of the business from its US parent in 2007 and its flotation in 2011. Stock market filings show the executives both sold 910,000 shares for £1.85 each on June 23, yielding almost £1.7m apiece. Church and Higgins previously sold 255,000 Escher shares each at a share price of £1.45 in April, netting almost £370,000 each. After the share sales, Church and Higgins each own just under 4.8% of the company. London-based Hanover now has a 25.4% stake in Escher. Hanover has a track record of buying or turning around quoted companies. It is in the process of buying Kalibrate Technologies, an AIM-listed provider of software and services to the fuel industry in the UK, for £29m. Last year, it took over Hydro International, a British supplier of water-treatment products, in a deal that valued the business at £28m. Before making that buyout offer, Hanover owned 17.7% of Hydro International. The other big shareholders in Escher include the Business Growth Fund, a UK government-backed funder, which has a 14.7% shareholding. Livingbridge VC, a private equity group, owns 7.1% of the company. Escher’s point-of-sale technology is used by postal organisations in 35 countries, including An Post. It had revenues of $22.4m (€20m) last year and made $2.7m pre-tax profit. The company said last month it had agreed a contract to provide its mobile point-of-service system for a “large-scale postal organisation” but did not disclose financial details. Escher was backed by well-known Irish business figures, including the Smurfit family, but those links have been largely severed. Accountant Bernard Somers stepped down as chairman of the company a year ago, and non-executive directors Michael Smurfit Jr and John Quinn left the board in August 2016.
What I find really weird is that it's going up on virtually no trades, and certainly no volume. I think I counted 17 trades in total so far in July ? Mind you 8 of those were in the last 2 days. But the preceding 2 days there were zero trades. Very odd indeed - but I'm not complaining!
No news but SP still going up. Wonder when we will see next RNS updat/news. Looking for some info on Hanover plans...... GLA
Yes very interesting times. Not sure about the sale as should be 2x910,000 and then when will the buy show on the trading list, maybe a delayed request by Hanover. Looks to me like the current holders want out..... Let's hope this is a takeover. It will be interesting to see how the price reacts over the next couple of days. GLA
So the 2.3 million shares were bought by Hanover. They now hold 25.43% ..... getting interesting :)
So 2.3 million share sale went through yesterday - 12% of the total in issue and no effect on the share price. I assume that means there was a matched buyer but the buy is going to be a delayed reporting trade? If Hanover have bought those as well then they are building quite a stake. We know tha 1.82 million came from the CEO and the CCO (910,000 each) but where did the remaining 480,000 come from? Presumably from another director/directors as the 2.3 million is reported as a single sale so they must have sold together. I'd have expected to see separate sales for the indidual directors holdings? Is it normal for them to be combined in a single transaction? Does it imply an arranged matched sale ? So many questions !
Take a look at their website hanoverinvestors.com - looks encouraging Homepage has this statement in bold "specialist investors in change and turnaround situations" Could be news at the AGM today?
Escher Group Holdings plc Notification of Major Interest in Shares According to lse trading stats over 3mln were traded on Friday. Maybe someone else bought balance if buys are correct....... Anyhow anyone know who Hanover Equity Fund is? See below, they hold 13.21% Escher Group Holdings plc (AIM: ESCH, "Escher" or "the Group"), a world leading provider of outsourced, point of service software to the postal industry, received notification on 23 May 2017 that Hanover Active Equity Fund LP is now a holder of 2,476,614 ordinary shares of €0.005 each in Escher, representing 13.21 per cent. of the Group's issued share capital.
Ah, the list on the website is dated 31-Dec-2016 so not up to date. Sorry.
AGM is on Friday - is this someone buying voting rights ahead of the AGM?
I want to know where the 16% came from as well!! According to the list of major shareholder on the company website 90% of the shares are tied up with directors/major holders. So that would only have left 10% available.
Looks interesting!
16 percent (approx) - GLA
18 percent of this stock purchased 19 May.... Wonder who's building holding ? May know with an RNS Monday. Good luck to all long term frustrated holders of this company.
2016 – The Great Irish Share Valuation Project (Part II): Company: Escher Group Holdings (ESCH:LN) Last TGISVP Post: Here Market Cap: GBP 31 M Price: GBP 167.5p https://wexboy.wordpress.com/2016/05/30/2016-the-great-irish-share-valuation-project-part-ii/ Price Target: GBP 121p Upside/(Downside): (28)%
Logged in at 8-10am said this stock was up 16% today then logged back 10 mins later and said no change. Can someone explain that one to me!
Tipped up today by those in the know.
2014 – The Great Irish Share Valuation Project (Part X) I take a look at Escher Group Holdings, plus a batch of other Irish stocks: http://wexboy.wordpress.com/2014/05/30/2014-the-great-irish-share-valuation-project-final-part-x/ Cheers, Wexboy
Up 20 and still not a murmur here. A lonely but profitable environment. Results 10 March could be interesting
Blissful silence as Escher at last goes on the march. Very pleasant surprise and patience seems to have paid off.