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Started: djframboise, 1 Dec 2019 12:13
Last post: djframboise, 19 Dec 2019 20:47
My price was 537.3043 though. Expected 544 and a bit.
Yes, mine credited to my ShareCentre trading balance today. Not sure where to deploy yet.
Yes. £5.4221 / share held.
yes
Anyone received payment for INMARSAT shareholding yet?
Started: Ringoringo, 10 Dec 2019 10:00
Last post: Ringoringo, 10 Dec 2019 10:00
Can anyone explain if these shares are worth anything? I still have 860 Inmarsat shares but can’t find any price or news. I believe they have delisted from FTSE. Does that mean existing share holders will get any proceeds?
Started: djframboise, 9 Oct 2019 10:40
Last post: djframboise, 29 Nov 2019 15:15
I've lost track what is happening. We're now 29/11 and still trading.
Now that ISAT has finally identified the Court on 28 November and that currency election (US $ or Sterling) has to be specified by the Shareholder by that date. But I hold shares in CREST by an intermediary and therefore how do I expedite.
Seeing a daily stream of 8.3's for Inmarsat. Is this a done deal or is there still potential for an alternative bid? Not sure there is much point holding unless there is potentially bigger things on the horizon.
Started: BigZee, 5 Sep 2019 12:21
Last post: BigZee, 5 Sep 2019 12:21
Don't think the exchange rate can really explain this, after all there was a large spike up to 6.19 2 days back, something else must be going on to get such a large spike up. Dropping back slightly last two days but still well above SP buy out.
SP down yesterday and today on HMRC case from years back on unpaid revenue on satellite launches that seems to have gone against ISAT, although they had accointed for this already over the years to the tune of £100m
Hoping that the gap gets filled back up to 6.19 over the next week or so or it may just trickle back down to the 5.70 mark.
Who knows really what is going on behind the scenes, surely not us lowly private investors in any case. !!
Started: BigZee, 29 Aug 2019 16:01
Last post: Upper, 3 Sep 2019 14:36
I mean $ conversion to £ will be higher
I suppose collapse in Sterling so $ payment to shareholders will be higher
Does the weakness of the pound vs dollar really explain it?
The Ligado deal seems to be taking a long time to resolve ?
the SP is trading around 1% through the offer price taking into account the FX rate at the moment...read that there is some speculation that the ligado situation may be finally approved in the next few weeks and that could lead to an improvement in the offer terms
No other reason than the weakness of pound v dollar.
Kicking myself for selling too early.
Started: Morbox, 18 Jul 2019 00:10
Last post: Morbox, 18 Jul 2019 00:10
Yesterday’s news but “Competition watchdog to probe $6bn Inmarsat private buyout”
https://www.ft.com/content/2f19ab4c-a791-11e9-984c-fac8325aaa04
Started: LennyMac, 18 Jun 2019 12:32
Last post: LennyMac, 25 Jun 2019 09:14
Surely everyone on here isn't hanging on for some unexpected appreciation of sterling that would alter the maths of the transaction?
Hi all, can someone clarify a point for me please:
At some point in q4, the takeover will complete and my holding will be converted to cash at the rate of approximately $7 USD per share?
Thanks in advance.
Started: PirateFlag, 2 May 2019 22:56
Last post: Dinoken, 30 May 2019 23:47
Yep. Today's Global Express upgrade news should flush out rival bidders. Hope so, anyway.
the announcement today should spur any rivals into action and is that does not happen then the announced takeover looks a certainity imv.
You sound like me. Everything totally logical but somehow never turns out that way.....
Thanks Dinoken for the reply
Agree with you johnpwh. Nevertheless, ISAT is already xd so you will get divi on 30/5 even if you sell on Monday. Note the divi and sale consideration are priced in USD, so you will get more or less GBP depending on the exchange rate at that time. I cannot see GBP rising against USD in short-term - especially with hard Brexit back on horizon - so will hold for currency benefit and possibility of authorities kicking this out and US buyer stepping in. Could well be wrong on all three counts with GBP rising, authorities kicking this out and no US buyer moving in ...
Thanks Dinoken. Bit of a wait then! May be tempted to shuffle off after receipt of the divi. I still think this is a sad end for a pioneering British Company.
Started: jam2morrow, 1 May 2019 19:10
Last post: jam2morrow, 1 May 2019 19:10
deutschbank target price of £5.75 . Can't fault them for consistency - they've been saying that for the last year
can someone give me a snapshot what the resolution is about
Started: PensionDeficit, 26 Apr 2019 23:29
Last post: Dinoken, 29 Apr 2019 12:52
Thought share price would fall after a story like this. One less potential bidder.
Started: PirateFlag, 28 Apr 2019 14:30
Last post: PirateFlag, 28 Apr 2019 16:30
Hi John
Ironically this is one of those rare occasions where I stand to make a profit! You are right though there is nothing PI's can do to affect the outcome, at least I have registered my protest vote.
Good luck.
Hi PF
You are totally right to vote with your conscience, I applaud that. I doubt however that PIs have the power to make any difference to the outcome.
I am torn. I don't like the deal, I don't like the loss of this tech company from the UK. However the bid has been in the open now for some considerable time, the only serious alternative bidder we are aware of just dropped out and there appear to be no others - its not as if alternative potential suitors have not heard whats going on!! If this bid gets overturned then the best we can hope for is a small additional sweetener. However if the bid simply fails then the SP will be back in the mid 300s until the earnings improve which could take years. So despite showing a loss at this price I just want out.
For what it is worth I have voted against the Scheme, I hope others do likewise.
GS now have 8% I see.
Vampire Squid acquire 6% stake provided they play their instruments. Why have they acquired them and what will they do with them is the question. IMO expect another bid.
Sorry, any views!
Anything views on the GS TR1 this morning?
Started: Dinoken, 18 Apr 2019 10:51
Last post: johnpwh, 26 Apr 2019 17:50
Everyone shareholder here seems as disinterested as I am.
Just doesn't sit right with me. Loss of a British tech company to a assortment of individuals, on terms that are barely better than the robustly resisted attempt at takeover last year. Plus I'm actually making a sodding loss at this price!
Just feels like a stitch up, not that I have anything concrete to base that assertion on. I just want it done and finished now, move on, I am about as interested now as I am with Brexit!
Holdings RNS - JPM increased position a bit; you'd hope they know something more than us
You could not make it up …
Perused the Scheme of Arrangement document and found that although the meeting to approve the takeover is May 10th, D Day when shares are no longer traded is sometime in Q4 with long stops on 10/12 and Friday 13/03/2020 ! Cheques despatched 14 days after D Day.
Hope someone comes in with counter offer before 10/5.
Started: PensionDeficit, 12 Apr 2019 10:08
Last post: PensionDeficit, 12 Apr 2019 10:08
Started: dewilliams, 27 Mar 2019 09:11
Last post: Dinoken, 10 Apr 2019 15:36
Morbox - beggars belief that they accepted an offer substantially lower than the 'low ball' offer made last year. IMO has everything to do with them keeping their jobs (at shareholders expense). Hoping for a counter bid or regulators kicking this into touch.
Dinoken, just checked the board to see what’s happening, I really hope that the regulators pull them through the mill. As I’ve said in previous posts, why have the board excepted this offer, when the previous offer similar to this one greatly under valued the company. Anyway, it seems the board is happy to do a deal with their friends.
Morbox - thx for pointing out the Telegraph article.
Got past the paywall and can scarcely believe the content. Conclusion is that this is not a done deal whatsoever. Highly likely this will drag on for ages and there may well be another (US fund) bidder or even no deal at all.
Key points :
a) "US and UK security and technology watchdogs are gearing up for MONTHS (yes MONTHS) of scrutiny amid heightened sensitivities over critical communications".
b) Deal to be reviewed by secretive branch of the US government (clearly not so secret) known as the Committee on Foreign Investment in the US (CFIUS), which derailed Broadcom’s $117bn (£90bn) offer for Qualcomm last year over concerns about Chinese involvement.
c) Whitehall to assess impact of a private equity takeover on Britain’s industrial strategy (what strategy ? thought strategy was to flog everything off) given ISAT’s investment in hi-tech research.
d) one regulatory expert believes “There is still time for another bidder to enter the process. There are plenty of large US funds that could do this deal by themselves and would be less of a risk to CFIUS”.
e) The Federal Communications Commission is also due to investigate.
f) ISAT ownership of scarce radio spectrum in the US, as well as US Navy reliance on its network, is likely be flagged by security officials.
I agree. I'm hanging on the basis of one more Brexit sterling drop. The ex rate is all that will move this. Then who knows, we may cancel this misguided self abuse, have a Bobby Ewing moment, revoke article 50, the pound spring back to $1.50 and I could make a real world profit.
Basscadet, I bailed out today, I decided that the pound could get stronger if a soft brexit gets the vote by the kids in parliament. Of course it could go the other way but after Flybe, I'm a bit shy of risk at the moment.
It's a shame that another tech company is sold off. I would have stayed long on Inmarsat as imo it's got a good future. Could be a chance that the deal falls through, if so I'll be back.
Started: Basscadet, 9 Apr 2019 13:24
Last post: Basscadet, 9 Apr 2019 13:24
Expecting brexit extension and sterling rise.
Started: BumblingFool, 1 Apr 2019 12:00
Last post: BumblingFool, 1 Apr 2019 12:00
Think it might. Have been shorts closing that pushed this up. Above the offer. I sold out, think the fact the board is so quiet suggests most others have too.
Last post: BinLurkin, 26 Mar 2019 23:32
Yep... flybe, ophr now isat same modus operandi i'm at the wrong end of all of them and deep underwater, is it just me or what !!
Very interesting, the boys club, again! Small private investors mean nothing in this game.
Is there a margin for error here though? It's only a couple of pence above the offer price.I would think the bidders will try to make sure it doesn't go above here. I'm not sure what tools they have to carry out such manipulation but they will do everything they can.Also, why would anyone buy above this price when there's a very good chance their shares will be sold at it in a few weeks time whether they like it or not?It would take very concerted buying by a very confident bidder to drive it up IMO. If it happens there's almost certainly another bid on but it has be a strong and committed rise.
Seems to be trading today in excess of the bid price, though you have to add in the due dividend and adjust for £/$ movements since the RNS which obviously have an effect. Given the uncertainty and delay between now and final settlement I would have expected a discount, say SP currently in the 520-530 range if the current bid was not expected to be beaten. So what I am saying in a rambling shambolic way is that the Market appears to be expecting another bid
Started: Amica1, 25 Mar 2019 18:04
Last post: jam2morrow, 25 Mar 2019 22:01
what sort of timescales are we talking about if another bidder wanted to come in? days rather than weeks? I've no idea on the protocol for this.
Yes I thought it was a standard reply, but at least we got something, Flybe ignored everyone! I think I will be moving on tomorrow, lots of opportunities out there.
I got the very same response from Rupert Pearce. Word for word.
Fair enough and thanks for contacting the company.
I email Mr Pearce today and got a response
Mr Pearce as a shareholder I would like to know why the board is recommending this low offer for the company when on the 6th July 2018 the board stated
"The Board remains highly confident in the independent strategy and prospects of Inmarsat, given our track record, unique capabilities, differentiated market position and strong channels to market"
What has changed?
Mr M
Thank you for your question. As is made clear in the announcement today, the Board looked at all the current circumstances in determining that it was the right thing to give shareholders the option to cash out at the premium offered by the PE consortium. This is not about a lack of confidence in the business – far from it – but a recognition that shareholders deserve sight of a major liquidity event. It’s always a difficult decision for the Board to form a judgment on this kind of situation, but the fact that our largest shareholder (someone who has held their shares almost since IPO and really understands the business) has decided to vote in favour of the offer speaks volumes about the value of this offer to some of our shareholders and their desire to see something like this happen. But I stress that if this offer does not close for any reason, we continue to remain very confident in the long term prospects for Inmarsat as an independent listed company.
Best wishes
Rupert Pearce
Started: Trent700, 25 Mar 2019 07:29
Last post: OWLS, 25 Mar 2019 19:14
Think yourself lucky, I bought at over £11 ! I did a substantial top up at £5 so I can console myself that I made a decent profit on that tranche.
Having bought in at around £7.50 you can imagine how I feel about this. I certainly wouldn't vote to accept this offer. I might not get my purchase price but I would like it to get much closer to the mark. I hope the valuation proves to be much higher and a rival bid emerges.
current sp suggests more to come on this one.
I'm of the cynical opinion that there's a sordid back room deal with Echostar included here I'm afraid.
Management giving it away. Familiarity breeds contempt is a very true saying ..... worth well north of £6.00 Gutted.
Started: andykc1962, 25 Mar 2019 12:09
Last post: JH77, 25 Mar 2019 17:29
It's very early days! Who knows the outcome?
Yeah this stinks. The only difference basically is that the board get to keep their jobs. Suddenly the offer values the company fairly?!?
The SP has traded at the offer price all day moving with the exchange rate. Albeit + 3p to 4p. Doesn't feel like anyone else is lining up a counter offer.
I hope so.
This may be a strategic move...by recommending acceptance them it puts a bit of pressure on alternative bidders to get an offer in.
Not impressed that I have bought into this great company over the years and they are now giving it away
Started: Thecountofmc, 25 Mar 2019 13:36
Last post: Thecountofmc, 25 Mar 2019 13:36
rupert_pearce@inmarsat.com
Started: dewilliams, 25 Mar 2019 09:20
Last post: dewilliams, 25 Mar 2019 11:20
The more I think about it, the more this deal stinks.The board valued the company at around 7.50 per share last summer when it rejected the previous bid. Why has the board changed its position big time? That's a huge difference in valuation.
More than 9m shares trades today, and the resistance is at 5.50, unsurprisingly. We'll know something is definitely afoot if the price climbs higher.
Started: BumblingFool, 25 Mar 2019 08:58
Last post: extrader, 25 Mar 2019 10:54
And indeed....
Apols re formatting !
Norges has just (1002) released an updated holding RNS, extract :
(f) In addition to the company in 1(c) above, is No
the discloser making disclosures in respect of any Not Required
other party to the offer?
If it is a cash offer or possible cash offer,
state "N/A"
this compares with the earlier version (0851), which mentioned EchoStar
f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
If it is a cash offer or possible cash offer, state "N/A"
Yes
EchoStar Corp
Oops !
"Don't ascribe to malevolence/conspiracy that which can be adequately explained by human error/incompetence"
ATB
Hi all,
Let's hope so !
Or maybe it's just that Norges hasn't updated its holdings form since the EchoStar approach last year.....;-<
ATB
I'd say there must be a good chance that someone else will fancy this company at that price, and BumblingFool's message below hasn't done anything to dampen my enthusiasm.
A second bidder perhaps, Jimmyvill?
This could be about to get interesting !