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That's what I was looking for http://www.subseauk.com/6097/hayward-tyler-signs-production-alliance-with-fmc-technologies
Share was shorted current price reflects pre finance arrangement once sorted then 70p to 80p minimum. AVG will know that.
Price before AVNG made offer was approx 40 p. Very rare any company would offer twice SP. can't think of many examples where that has happened. Agree would like higher but History says different
90p minimum or I'm voting against it.
Hello Howard - AVG are savvy enough to know that they would be sent away with a flea in their ear at your hoped for level. If they decide go for it there is no point in their messing about. when a good & timely opportunity awaits them.
Countdown on re AVNG offer we will know by 5pm on Friday. Hope somewhere in late 60's / 70<s
Investor in Luton picks up another subsea contract. http://splash247.com/technipfmc-awarded-subsea-contract-exxonmobil/
Any offer will have to be above current price now as seems to have found its value around here. Offer or increased loan amout will see it move up quick imo.
MARL are reacting well to news today that it will be gobbled up for 84.38% premium to yesterdays closing share price. Still has upside potential although not confirmed. We can only dream... http://www.lse.co.uk/share-regulatory-news.asp?shareprice=MARL&ArticleCode=ghet6k1u&ArticleHeadline=Mariana_Resources_Ltd___Recommended_Combination_of_Mariana_Resources_Limited_and_Sandstorm_Gold_Ltd
Hi all, is it common practice to leave things until the deadline date? Question relates to both RBS banking situation and AVG potential offer? Some insight would be appreciated. Cheers.
It's financial wriggle room. Every business needs it.
Even major companies have debt some say its good accounting.
But I’m not sure it’s large sums of money that HAYT need now, is it, having finished and brought the Luton COE on stream, and bought PB? Their problem is contract constipation, which is easing by itself, with the laxative of long term bank debt funding coming too, to complete the cure. And that's the right cure too imo.
NOT LONG TO WAIT AS AVNG DID TO DECIDE BY 28TH. PERSONALLY WOULD LIKE ALL SHARE MERGER AS AVNG BOARD HAVE A SIMILAR REMIT TO MELROSE=BUY UNDERPERFORMING COMPANIES=REBUILD AND SELL ON. THINK THEY WOULD DO AN EXCELLANT JOB AND HAVE £28M ON THEIR BOOKS.
Merger would probably suit both companies especially if they can take out costs. They would also benefit from each other's customer base. Can't see any problems with competition regulators.
poole - the current thinking is that AVG will make an all share offer to merge the two companies, as they don't have enough cash to buy HAYT outright at a fair premium and still fund the projects. So it leaves two options from where I am sitting, maybe there is another. The most popular suggested is that they announce a merger with a fair ratio so HAYT shareholders receive a stake in the enlarged entity. This may have seemed possible when we were trading at 40p but now we are around 60p the dilution to AVG shareholders will be much greater. Stranger things have happened so it is entirely plausible. The alternative is having done their due diligence they may seek to take a large stake in the business by offering much need cash in a share subscription. There is no reason why they can't do this. The question is does it make sense? If they take an equity stake in a depressed stock that is in need of cash to fund expanding orders and they benefit from stock price appreciation and the company recording better trading results it's a no brainier. Why would that not be viable? I'm talking about a 20-25% stake. I agree with you though the two look a potentially good fit but I can't see AVG getting this cheap now.
Not that much, not in AFC but well done you.
graham-wales - you seem pretty desperate to talk the price up. How heavily are you invested? I'm currently out of HAYT and fortunately sold all my excess shares in AFC soon after they were allocated (applied for the max and got about 48%) which has had an unpopular AGM today.
Taking out stop losses oh dear.
Market Makers spooking some traders must need some shares 😬
I think the last delay was due to them knowing an offer may be made but as you say think AVG will want more time so expecting extension from RBS which will allow further contract announcements. They seem to lump a number of wins together so may already have a couple since end of March
...or any other bank. The 12 April contracts RNS was a cracker, and those were wins just for late March. On first reading I was disappointed with the statement about RBS and long term funding, because it seemed to be lining us up for yet another delay in resolving it. Expect another RNS this week kicking the can down the road again. But actually, with all these wins being booked, the business and ELB's hand are being significantly strengthened in double quick time. I still think resolving funding sooner rather than later should be the goal, but ELB should take more time if he needs it, now that he's negotiating from an increasingly strong position. The other thing I'd be doing if I were him, is thinking about re-financing with another bank, if he feels the limbo situation with RBS is more their fault than HAYT's. He can be confident.
Yet more people getting in.
Are the key at the moment, if they provide further long term funding then no matter what AVG does I believe that HAYT will get through this short term pain and be a much more focused company going forward. This will certainly sharpen them up and cost reductions/ furrher orders will be targeted.
Sherminator ,I can't see your suggestion being viable. It's shares is the currency AVG has to acquire HAYT . It also has more than enough cash to finance the future capital needs of such an acquisition and continue to develop it's own existing activities. The two look a potentially good fit and if merged would have the capacity to provide a good ride for investors. I agree with graham-wales that it would be a shame if HAYT were alone to fall into foreign hands.