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Not sure now we’re they go? Their first strategy was 50% which they now have, after this they may want more but knowing if they increase the offer price everyone must get it too.
This may halt further progress, may stabilise and then look to see 6 months from now.
Problem they have is they can’t get anything different through a general meeting. Vote acceptance is normally more than 75% of cast votes on the day.
Stellios has enough to stop them himself let alone with others so they are stuck to progress other changes
the investment company have had a member on the board for sometime now after they bought in at £1.10. the results havent been fantastic but are now growing so as the sp dropped mainly through brexit they look to give an uplifted offer and in many case just prior to growth coming through to the bottom line.
the board have to trade in their shares so are no doubt on huge signing up offers, the brand is the key here and worth a fortune so either stellios will hold out and keep some shares like with easyjet or he will sell but you'll then note an uplift in how much he gets annually for the branding lease.
dont trust any of them, they'll take shares from any one for the quickest and cheapest cost in order to max their position. i'm holding for now, i think they'll grow the business agressively, stellios might stay invested as he said this was the best/most suited business model to use the easy brand after easyjet which has continued to make him a fortune.
the very good times are coming, they've seen a chance to buy everyone out cheap with the threat of delist
Yes and everything is worded in a manner to believe it’s all a done deal and you have no choice but to sell. It’s positioned as they want people to access, they have to get over 75% to start forcing takeover possibilities overall, this isn’t possible without stellios shares. I’m holding on, they’ll stay listed unless they get a lot and can vote at a general meeting a delist and dividend is dividend whether listed or not if they pay you get it and in the future they’ll probably offer to buy people’s shares again
As of 16 August, ACAMP held over 48% and may have added to that since
I also note that the offer documentation is in the post
Thank you, unk
That is very helpful and somewhat reassuring
I’ll stay in; afterall I originally bought in at this price when I considered it good value and my confidence has grown
There have been a number of significant buys at the 95p price
i think they have set their initial limit of ownership at 50%. they have then said it could stay listed if they dont get that many however if they get far more they will take it private and delist. at no point have they said they will or can take your shares of you more they say you will suffer less liquidity potentially if you hold on?
interesting dynamic as of course they are keen to say by owning the business they have a great future planned and huge growth plans so why wouldnt you want to be part of it? my intention is to hold at the moment and see where this goes, worse case you own shares in a growth company that wants to move forward
I’m a bit confused
I’m in Fiji at the moment and can’t read all the documentation
Are you saying that the takeover may not be a takeover in its true sense? That Bidco will not necessarily have a compulsory purchase of all the shares but will be content in having , say, 60%? That would mean I could still retain my existing shareholding and the Company would still be listed? That scenario would be good news for me as I believe, even with Brexit chaos, the Company has a strong future
It is not critical to Ivanhoé Cambridge and ICAMAP that they own the whole of easyHotel, so they have set the acceptance condition for the Offer at only 50 per cent. of the issued share capital of easyHotel. While the Offer gives shareholders a compelling opportunity to realise their investment by accepting the Offer, the structure of the Offer may allow easyHotel to continue in its current form, depending on the level of acceptances of the Offer.
i think they need at least 70% to take this to the next stage and they get only so many offers. so the first offer hasnt worked, expect at least one more. easygroup hold 24.5%, polar capital have 5.9% and bennbridge ltd 5.2%.
so they have quite alot to do and as you would expect ICAMAP are highlighting poor results, need a new direction.
imagine if stellios had sold out easyjet, a huge, very successful business so i'm hoping its not all noise and he will hold out, certainly isnt desperate for the money, bet he is negociating a larger annual sum for the brand name??
The offer represents a 35 per cent premium on the company's closing price on Friday of 70.5p.
Easyhotel chairman Jonathan Lane said the offer is 'fair and reasonable' and would help the hotel chain accelerate its expansion into Europe.
But Haji-Ioannou has a different opinion: 'I find the offer from ICAMAP to be very low and I urge all other shareholders to take no action until the true value and future potential of Easyhotel can be evaluated.
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'It should be noted ICAMAP themselves paid 110p (per share) only 18 months ago and the stock has been as high as 128p just 15 months ago.'
Shares in Easyhotel jumped on the news, rising 34 per cent to 94.5p in morning trading. They have fallen by 18 per cent over the past year.
Harm Meijer, founding partner and managing director of ICAMAP, said the company needed 'a change in its shareholder base' in order to become 'a true leading pan-European budget hotel player.'
Easyhotel, which has 38 hotels in 10 countries, targets the low budget market, with rooms priced on average at around £70. It joined the stock market five years ago, listing at 80p a share.
In May, it revealed that sales jumped 25.3 per cent to £20.2million in the six months to March 31. But it slumped to a £124,000 pre-tax loss in the period due to the temporary closure of its hotel in London's Old Street, and depreciation.
Bosses had previously said they plan to open five new hotels by the end of the year and nine more by 2020, at a cost of £49million.
Easyhotel has grown rapidly in recent years, although it got caught up in the collapse of LateRooms last week
Guys looking pretty. he has shares in the company, i am sure has been offered a great package and expansion plan and cash to take this forward so hence they will support and push this to go out of public hands. we need stellios to stay firm. polar have a big amount, stellios to get them close and over 90% they need to auto buy
i'm going to hold all the way as happy to see where this goes. stellios will want i am sure £1 plus, might even stretch towards £1.10 as whilst this may seem like a lot more the business is just about to turn a huge revenue, profit corner and this brand has a huge future ahead.
after that looking at aviva, legal and general costain potential next options. play this out first
I'm out at just under 95 a decent return for my time here. Good luck to those holding out for a better offer.
they get so many offers and then told to put up or shut up. this has to go to a vote, risk is you say no and they walk away. i think thats unlikely as this industry is very bouyant at the moment. it will happen quite quick, stellios has such a high % that they need him to say yes, they need him to be happy and accepting of the deal. this will go higher, these guys have far more than £130 million plus to spend.
stellios says hold and dont budge. the offer hasnt been accepted its been sent out, everyone votes as they dont have a commanding % which gives them the ability to take over completely without our vote. stellios will hold off, he has nothing to loose, has plenty to gain and its his brand. he will continue to get more and more cash as the business grows with the hotel gain. i need to think about where next ?
interesting. i think stellios will go for more, why wouldnt he? its his brand, his connection, his money and the sp has been far higher before.
expect £1 min, maybe £1.10??
Tovers the offer is at the 'conditional' stage subject to approval by holders who may reject the offer as undervaluing the Co. So for you if your sitting on substantial profits it may pay you to watch and wait. Either way your backstop is 95 unless holders do not receive a better offer and reject the 95 the shares will tumble. From my experience you rarely see offers above 50% of the current sp and at 30x eps
its kinda pricey viewed on that metric given Brexit uncertainties etc...as ever u pays your money...
Personally,I’m disappointed as I had bought in at 94p and considered this a long term investment and I still think this is a great company with huge potential. I considered that the sp over the last while greatly undervalued the company
I note that Jonathan Lane, a Director, will be at a loss on his share purchases so he mustn’t be too pleased
In short, I would have hoped for an option to convert my shares into Bidco
I wouldn’t bet on a higher offer unless it came from Stavropol himself
Article on ADVFN seems to suggest it has been accepted?
I'm not particularly au fait with the process for these offers.
I've seen Stellios has called on shareholders to reject the offer. Does that mean this is not a confirmed and accepted offer?
If rejected, is it likely that the buyer would have to revise their offer, say at 100p a share or withdraw?
Hope your right, I might sell in the mrkt as I want to add elsewhere and with my small stake here I can add to a bigger pot. No rush for you to decide.
i think this may go higher, i think stelios will want more. i think for him and the shareholder he will push, need to see what he does and potentially wanting more than the £1 token amount!!
be interesting few days i think it will go higher. i'm holding, worse case no sale then 95p offer
oops going better!
Well done unvrkw great result!
Hope it was in a share isa!
Doubt another offer will surface
EZH was likely punted to a few others on the QT. The mrkt price does not indicate that atm...
of course stellios has got to say yes and he owns alot. maybe he will say no, want a second offer higher which wouldnt be unusual and it therefore may go higher.
i'm not complaining. its a £45k gain overall for me so i'll take that any day and there are no costs associated with this as its a cash off, no admin and therefore you dont get charged for any of the transactions. i bought another £3.5k a few weeks ago at 76p so it seems buying anything around this prices would have worked.
of course its not fixed as yet, the price could go higher, someone else could come in and offer more?