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Not sure if the market has taken it badly, SP isn't at 16p and a 4th player in the mix can't be bad (4th as in we have Marks, 2 prospective suitors and now this 3rd guy who has taken Fraser Group shares). Going to be fun :)
Very odd indeed.
I would be very careful as well playing guessing games on a public forum.
https://suite.endole.co.uk/insight/company/02262832-chan-commercial-ltd
This is really odd, the market didn't really take it well
Is it this guy: https://companycheck.co.uk/director/902505113/APINDER-SINGH-GHURA/companies
Might fancy himself as the next NEXT :)
Well, I'm reading, FCMUK which appears to be housed in the Boi Group - which has some familiar brands.
The TR 1 is out
What do we know about this chap?
What a funny old game!!
So,what's the outcome with this 3rd Rns mate?
If Marks would have wanted to sell for 41p or lower he should/would have done it last year when those offers were bandied about. FCCN is his life and his legacy, and I would imagine he wants a high level of financial security going forward in an uncertain world, hence I feel an offer would have to be over 40p in the range I mentioned (40p to 55p), there's a lot more going for FCCN than Arcadia with operational capability and global markets. If a suitor wants to keep snapping shares up on the open market (as an aggressive move) they will keep pushing the price up until they could accumulate enough to take Marks on - better and simpler to make a decent offer from the outset. Just my views, I could be utterly wrong, but just sharing my views.
You just never know with Ashley!
However, he is one hell of a punter, so if someone knocked on his door to bid for his stake, I wouldn't think for a minute, he would take a lowball offer.
DMcG54 you may not be far off with that , we will just have to wait till they release the info on the buyer !!
Why do you think someone will offer more than what the price now,may be small premium,40p or more?
Now, just as a bit of fun, what if...
Ashley sold his stake to Marks, that would be an interesting play, as it would put Marks fully in the driving seat for offers and perhaps Marks would subsequently invest in some of Ashley's business post FCCN sale...?
Just speculating :)
Indeed but the Guardian article is public knowledge now, they have either got their reporting wrong or he did sell for circa 16p. The market will have known of that 16p for longer than we have and yet the price has yet to plummet to 16p and those big buys this morning came in at 32p when the 16p maths would already have been worked out by the big players - soooooooo, something is a foot for sure. More plots and twists than a spy thriller :) GLA
He's lost a lot of money then as the 2017 price when they bought in was something around 40p !!
Doesn't make sense ?
I think this will roller-coaster for a bit now. If Ashley sold at a discount to the current SP it was because there is something of greater interest going on, what that is who knows but if he was able to sell to one of the prospective bidders (and I'm not sure how that works with the takeover code, I guess if no bids have been formally made yet it might be possible for a suitor to snap up shares) could be that this particular suitor might offer more to Marks and hence on average they would have done OK on their bid price - we know Marks views 41p as too low from the attempt a year ago to sell. Also, if one of the suitors has snapped up Ashley's shares it could be that the second suitor might start to up their bid price, and of course we may end up with other suitors. So this will flap about a bit but with Ashley out and Marks wanting to ease up a bit and enjoy his wealth (which he will want to maximise) I do reckon there is a very strong likelihood of a sale within the range of 40p to 55p a share IMHO which is higher than the current SP of c25p. Thoughts?
https://www.theguardian.com/business/2021/feb/08/mike-ashley-frasers-group-sells-stake-in-french-connection
By my rudimentary maths it looks like Ashley sold for around 16p a share when rounded up - have I done the maths correctly because it looks like he missed out on the rise big time lol :)
Can be quite common during these takeover phases, can be deliberate as pushing SP down, we need to see that Mike Ashley sale price and the shorters can make try and make their money any way they want but at the end of the day FCCN is up for sale and there will be competing offers on the table and all that matters is the offer price that is accepted by the seller which should be a lot higher that 25p. GLA.
Judging by the price supression, I'm guessing a shorter
Forms 8.3 and 8.5 are disclosure forms required by the Takeover Panel to clarify material interests in the share register of a UK-listed company that is in a bid situation. There is an RNS for form 8.5 but I don't fully understand the info in the 8.5, seems to be a Short, a Buy and a Sell...? Anyone able to enlighten please?
I think there's not masses of float out there so they are dropping SP a tiny bit to prompt sells. Hopefully will pick up again after lunch. GLA
I'm not sure a bidder can buy shares if they are in takeover discussions, the takeover code is quite strict on that to prevent attempts at manipulation. It could be an entity that hasn't declared an interest aggressively buying. A TR1 in a few days should clear up who new owner is.
I hope it was a decent premium to Thursday's price, otherwise, he's going to be mightily hacked off!
There should be another rns soon to say who now holds these shares. Still worth buying more.
I'd have thought this adds even greater weight to the argument that it is likely one of the bidders who has purchased. I wonder who and how much for