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V disappointing - A BOD with no confidence in it's own abilities. Shame on them.
to Cathexis for the £1.71. Following the RNS's shows them just above 37% now, so about 6m shares to acquire before close Wed next week. IMOH that is not going to happen so I believe support for the current SP will be lost causing a drop back. If it drops back as far as my initial buy in then I'll lump on again. Very tricky markets just now, so am banking as much cash as presents itself to pick up more wacky trades like SGP this morning.
There's the tricky thing for the BOD - they can't officially reject, only recommend rejection. The ball is always in the stalker's court. But, there was cashflow to be had earlier - check out the quickster who snaffled 100k shares at £1.66 (shown as a sell but wouldnt be) which presumably they will pass on to Cathexis for £1.71 turning a >£4k profit in minutes - liking that style !
I'll tell you something, I wish this offer was Officially Accepted or rejected once and for all. Its causing a major problem with my Cash flow....
but the price of selling them on the open market still 3.5% below (plus charges) what one could get if the offer was accepted, still better than an interest rate one can get anywhere else, unless one can make the gains elsewhere which will not be easy in the current market. Would like to see the isg response first before deciding
£1.71 - almost 20% up on the prior low-ball. Puts me into profit on this one (again) and given my question re. clarity of rising costs of covering UK issues I am minded to cash in and move on. ISG said the costs of defending the bid would be disclosed in March results - presumably these costs will now rise unless the board accept the offer. Any thoughts ?
trading update was fine by me: "however the costs to close out certain remaining contracts in UK Construction....are expected to rise" - but we already knew that and they are being "closed out" "The overall results for the current financial year WILL have a greater second half weighting", there was never any expectation that the h1 results were ever going to be that good wth the construction sector problems
out this morning not the strongest news. For me a couple of worrying bits - is UK Construction costs "expected to rise by an offsetting amount" a new thing, over and above that previously disclosed ? And what about the costs of defending the bid to be disclosed in March results ? Need a bit of a rethink here maybe but am hanging in for now....
This seems crazy with such a low take up, the fact that they are able to keep just extending ther pitiful offer is a nonsense, and disruptive to the company. I assume there must be a limit to how many times the same offer can be extended?
Market report: Oil slide drags FTSE lower Date: 11-12-2015 10:18 Interior designs group ISG (ISG:AIM) gains 15% to 141p on a lowball 143p a share takeover offer from 29.5% shareholder Cathexis. Shares have been under pressure because of losses on historical contracts in its construction division but activity in ISG’s market-leading London office fit-out business is at a record high.
MARKET REPORT: By PHILLIP WALLER FOR THE DAILY MAIL PUBLISHED: 21:55, 11 December 2015 Investors built stakes in international construction services group ISG by nearly 16 per cent (or 19p) to 141p as it received and rebuffed a £70.8million takeover offer from US investment group Cathexis. Texas-based Cathexis offered 143p per share in cash for ISG, which reported disappointing trading in its UK construction arm at the start of this month. ISG said in a statement that its board had unanimously rejected the bid, which it believed significantly undervalued ISG and its prospects.
if that isn't an invitation to get more at these prices I don't know what is !
Well done board, totally agree "The Board is unanimous in its rejection of the offer of 143 pence per share which it believes significantly undervalues ISG and its future prospects. The Board will be writing to shareholders with its formal response to the offer once the offer document has been posted. In the meantime, shareholders are strongly advised to take no action and, in particular, not to sell their ISG shares. Roy Dantzic, Non-Executive Chairman of ISG said: "Cathexis' offer is unsolicited and totally inadequate. Disappointing trading conditions in our UK Construction divisions aside, it fails to reflect the strong trading conditions and outlook for the rest of our business. As such the Board urges ISG shareholders to reject this offer once made.
how low the offer is from Cathexis this morning. Hopefully enough disbelievers have already sold out after panicking on the latest news and common sense will prevail with a NO vote, at least until a realistic price is offered up. I bought in very low on this one as a recovery play, but still wish for the chance to see it recover and not to see someone else make a killing over the next 3 years. Greed is the killer emotion in shares eh ? If only I had taken the £2+ profits and walked away............
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Being fairly heavily punished now. At least the Board will have to work that little harder if they want their recently granted options at 207p and 220p to vest. They weren't very stretching targets at the time. Always going to be hammered after damping down expectations of a "brighter future" raised just three months ago. Might be a second down day tomorrow after an initial jump on bottom feeders as aggressive selling continues.
Typical AIM , slight disappointment and a total over reaction , ( share price own 31% as I write ) I personally have a few dividends due in Jan and I will put all of those proceeds into ISG . My guess is within 6 months the share price will have recovered .
After my post on Thursday it was nice to see the share price move up 5% on Friday
I like the way this company is moving forward again . A long way to go to previous highs but give it a couple of years .
Get thee behind me, Satan! http://www.lse.co.uk/AllNews.asp?code=v6lnft6t&headline=ISG_Swings_To_Annual_Loss_But_Says_The_Worst_Is_Now_Over .............Final Dividend = 5p = 2.9%
one note of caution is the FYR, which, with the impairments, may plunge the sp. I'm confident FY16 will return to the profits as expected, and I'm not so sure though, the present sp has the impairments 'written in'. All in MHO of course
also pays a nice divi and we gat a decent broker rating today . atb
Good announcement . I see steady progress , and the share price will follow in the months ahead
looks very good , im in . GLA
177p paid..yay! So, I'd comfortably say that was the Bottom...