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@retiredbanker - I think it is almost impossible to see Biles et al take it private at least at a knock down rate. Firstly, the concert party only holds about 20% so there is a pretty big gap to close even if you were to go for the lower threshold of a scheme of arrangement. Secondly, it is almost impossible to imagine if they declared an interest in doing so that the board would not seek to run a process and I would imagine that there would be significant interest from the other listed peers at a minimum.
I am with APD708 once the clouds lift on both the market and some of the recent Ince specific overhang this will bounce and bounce hard and I will keep adding in small clips to my exposure. There is clearly plenty of frustrated small holders about, probably a few Arden holders who want some liquidity and it is clear that River & Mercantile have looking to take down their exposure for sometime. Lots of sellers, few buyers a decent underlying business with some hairs, not going to be for everyone but plenty of money to be made in time.
Hi RetiredBanker, just curious what activities of Ince has created the suspicion that Biles and Co could be going private? The payment of recent dividend suggests otherwise that Ince is not looking to go private otherwise why would they bother with dividend payment.
Also, Ince's revenue is close to £100 million, they need to figure out a way to increase their profit. Even if their revenue stays the same and they can operate at 10 to 14% profit then we are onto a winner here.
I am buying more at the SP. It will bounce. My investment horizon is multi years.
So Arden was valued at £10m at the time of the offer, which I thought undervalued the company. Now INCE + Arden only worth £14m. Even if half the staff quit for pastures new, this should be valued more highly. But I do suspect that Biles and Co are figuring out a way to take it private and shaft the small PI shareholders. Problem for them is ... who will continue to use their "professional" services if they demonstrate that they are simple crooks !
I say incompetents because I still think there is a hidden agenda here but since I have no proof and after all you are dealing with one of the most hated professions in the world, one must choose their words carefully
This is it - Below 16p there is nothing - Maximum fear deservedly so considering the seemingly incompetents that run this co
Easing a bit more each time, most days.
Any realistic ideas on how low Ince might drift to?