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Possible AGM annoucements:
1) Bid at current price (75p) recommended by board -SP moves to 74.5p
2) Bid at (say) 80p recommended by board - SP goes to 78p
3) Bid rejected -SP retreats to 60p
On balance think 3 is most likely but don't know.
Possible announcement at AGM:
1) Bid for 75p cash backed by board -SP moves to 75p
2) Bid for 80p accepted by board - SP moves to 78p
3) Bid rejected -SP drops to 60p
I think 3 is most likely but not sure.
AGM on 18 March
£5.4m profit from sale - a special dividend would be nice. What does this mean for the bid? Need to hear something by 19 March
With three weeks to go to finalise a deal, will the outcome be subject to the outlook for tech shares in the U.S. if the sell-off there deepens? The bidder, Dye and Denham, has been issuing scrip like confetti the past few months as it tries to buy its way to glory. Its latest raising, at $C50.50, is well and truly underwater, which will make it difficult to issue more scrip anytime soon. It has raised $C1,075m and spent $C800m over the past few months, which doesn't leave a lot left over to pay for Idox, if the deal goes ahead.
.... OK 930889 shares each way
Not sure but this maybe classed as a "put through" mm 2 mm so not a genuine purchase
Current price suggest that (if it comes) the bid will be 75p + 0.3 div
Current price reflects the market is a tad uncertain about the outcome ........ but only a tad !!
22 Feb - RNS Number : 9251P. Labelled replacement
Walkley ..... I can't seem to find the RNS you refer to
what day was this RNS issued ?
If offer is at 75p why is the price at 72p? Do people think the bid will be rejected? iIwould have thought that a rival to Durham and Day might make a higher offer.
According to the RNS Form 8.5 Canaccord are linked to Durham and Day and have bought IDOX shares at up to 79p (and sold them at up to 77p) -Does this mean that Durham and Day have now to offer at least 79p?
If only I'd realised before that all you have to do is leave a message on this board about where you want the price to be and it happens the next day! Excellent.
Interesting few days/weeks ahead here.
I'm off to leave a few messages about where I want the price to be on my other holdings! Maybe start with RPS. I think they are an other company that might attract take over interest before too much longer
Ah idiot. It’s all in the RNS
Any idea who made the offer?
The dividend is only 0.3p and we would still get that for what it is worth - can reduce the 75p offer by any future dividend
The same thing happened to me recently. Thought I was seeing things. I made a purchase or a sale last week and LSE showed the reverse. How can we ever trust the info.
Less any dividend....
Have expected A bid for some years. First thoughts is that it undervalues the potential in Idox . Company is still recovering and generating significant cash. A more aggressive dividend policy paying 3p per share would be possible and would justify annSP of over £1.
Thanks but no thanks should be the response.
75p offer on the table
Up 15% over the last couple of weeks since results. A reasonable start to the "Fly Phase" I think. Now soar on up to the 70s.
Looking at trades this morning it looked to me like buys were being shown as sells. This turned out to be correct. I bought 1868 shares at 09:33:11 and it came up as a sell.
Good to see results early in February as promised. Idox now generating significant cash.
Material reduction in net debt at 31 October 2020 to £16.1m (2019: £26.4m).
Revenue increased by 4% to £68.0m (2019: £65.5m);
· Significant 35% increase in adjusted EBITDA† to £19.5m (2019: £14.4m);
· Adjusted profit before tax of £10.4m (2019: £7.7m);
· Statutory profit before tax of £2.8m (2019: loss of £0.03m);
· Material reduction in net debt at 31 October 2020 to £16.1m (2019: £26.4m):
o Excluding our 6PM Bond redeemable in 2025, net debt to our banking group at 31 October 2020 is £4.3m (2019: £14.8m), representing a decrease of 71%
o Idox retains substantial headroom against its banking facilities which include a £35m revolving credit facility and £10m accordion facility
· Intention to proceed with reinstatement of a final dividend for the year ended 31 October 2020
Cash from operations £15.5m. Net debt well down. Dividend expected at end of year.
Back in mid to late April IDOX partnered with Chelsea & Westminster Hospital NHS Foundation Trust to pioneer an online booking system for the NHS in a bid to streamline and accelerate COVID-19 testing for frontline staff. This involved online test booking for NHS staff & returning results with SMS. This streamlined a process that was time consuming before hand, rumours they have been involved in similar schemes with other trusts or govt.
IDOX denied rumours of any relation between Non-Exec Director Alice Cummings & Dominic Cummings (following media scandal) & also denied involvement with the troubled and delayed track and trace app.
Depending on if they have been implementing their NHS specific booking system more widely with other trusts then that may result in more income assuming Government were charged profitable prices for the work.
.... the years high. With some justification........