Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Morning Ron,
I've been in this one for a long time as a turnaround / buyout story, having been buying all the way down from 14p (I now hold a lot more than initially planned!). There's a lot of moving parts to this one, with a potential bid from Seafox who now look to be restricted from increasing their 10p offer for a couple more months. Anyway, the BOD and management team have had an overhaul over the the last 12 months and now look to have a grip on where the company is heading. Order book and utilisation rates are strong. However, the major issue is the company's debt structure. They have agreed in principle with a syndicate of banks, but this isn't signed and we also don't have any clarity on the structure of the capital raise that was announced a couple of months back. With this hanging over the stock the recent price moves have been bid led and todays move anticipating something off the back for a trade at 22p (that now looks to have been cancelled, but is was off book).
As for your actual question, on price target. For me I would cut my position in 1/2 at 20p to bank some profits and let the rest ride a bit longer, either as a bid or longer term turnaround play. I do feel the current management team have a much better hold on the company and controlling costs etc.
Hope that helps a bit. (I'm obviously a stock holder though and the share price has been driven down significantly, so I may be looking through tinted glasses!)
Good morning to all.
I am a newbie to this madness and am looking for a general pointer from the more experienced investors on here.
I bought a few thousand GMS at 7.67p and am looking at the long term.
My question is, what in your opinion, is an ideal target price I should be aiming for? I know ''as high as possible'' is probably the obvious answer but, I am trying to gauge where I should realistically be aiming for??
TIA..
If it has been reversed (who knows), many people haven’t noticed ??
Now showing as reversed on LSE?
What the hell?
I wonder who the seller was?
Only 4 holders had above 22m shares as far as I knew :
SeaFox 72.9m
Aberforth 69.8m
Mazrui 44.3m
Castro 34.3m
Also possibly Horizon Energy who had 21.1m a while back and may have added more, but I didn’t see an opening position declaration (form 8.3) from them during the recent offer period so I m not sure if they actually still hold or not.
Aberforth, Mazrui and Castro all wrote letters of support for the board recently.
Should be an interesting day tomorrow!
Off book trade....
Or fat fingers
So let me get this straight...
Someone has bought 5 million pounds worth of shares at 22p
Presumably the only price they could get from the MMs given the scale?
So then, why would you want to buy that much so quickly? Imminent takeover bid? That's the only thing I can think of?
Otherwise why not stagger 1 million over 5 days?
It can’t be seafox because of their stupid 10p no increase statement, they will have another 2 months to run on that one, unless I’m missing something but I did check with the takeover panel to confirm.....there are a few other significant holders already, RNS tomorrow will clear it all up!
Would you sell at 22p? Now that is a harder question to answer than 10p.....
Had this stock in the bottom drawer!
Anyone any idea what's going on here? Seafox buying?
WOW 22 million at 22p at 4:10pm
Surely another counterparty with a bid announcement coming, that's a massive premium to pay otherwise.
GMS Share Trades button...02-Jun-20 16:13:32 22.00 22,167,000
where can you see this trade?
Did you mean at 12p?
22m shares at 22p....cant wait for the RNS on that one.
Certainly over at 10p and not sure Seafox have the ability to offer at least 20p which some major SHs have already said is what they would expect....
Seafox continue to buy at 10p (RNS with 28th May dealing)......this is far from over and people still sell sub this level !
They have embarassed themselves here, and possibly wasted a lot of money... I guess a lot of people were counting on a sale so they've abandoned ship (no pun intended). I personally am excited to see what happens next, given the great fleet utilisation for the year.
On the 26th Seafox purchased 315k of shares at 10p, if they decided they were no longer interested in pursuing this takeover why do this!!! Why oh why sell in the 8s?!! Doh
Seafox are still buy stock at 10p and below, so this isn’t over, they just need to reset the clock in order to increase the bid later down the line. Their 10p an no increase bluff has backfired due to the level of shareholder support for the BOD.
Seafox will be back in again in 6 months' time - will see how the land lies then.
This new BOD has certainly got a far better grip than their predecessors so Seafox may well have to offer considerably more when they return.
Thanks Alba. That’s good news. I have solid faith in the turnaround. I’ve been here long term and got a wee bit burned. Not too badly thankfully but I’m holding tight and anticipating a recovery.
Ferguson’s, go to the GMS Website, Investor relations > Regulatory news.
Si547. How do you know that Maz are in support of the bod. I can’t see that anywhere although I hope it’s true