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So two 10m trades marked as sells @240p went through early doors today, marked as sells, but I think maybe mms walked it down to pickup stock last week, let it recover and flogged the stick off to this buyer.
There has been some recent negative broker reports. However, they seem to reflect the 'go for growth' agenda which, for a few years, will depress the overall profit margin on turnover. The Financial Reports always include the margin by year of location opening. It takes a few years for new locations to rise to the margin deliveried by the established estate of locations. Take a view, say, of three years hence and the cash flow looks impressive. I suspect the brokers have taken a shorter term view.
Looks like a determined drop today, is this simply being offloaded on recent poor sentiment here or is there specific news?
With an expectation that the 18% margin on the mature portfolio will, eventually, feed through to the newer locations, a healthy and rising dividend, a share buy-back programme, a growing estate and relative low debts (including leased premises and pension obligations), an sp of at least 400p looks realistic. If the growth of the estate continues at the 2018 rate for, say, three years, then 500p looks within reach.
50g would like to know what the offers were but alas unlikely to hear anything on that I do think they have a positive future and still expect further bids after 6 month lapse I would hope that we see £5 within a couple of years
Absolutely the right decision not to sell out for a low-ball price, as even a cursory glance at the interim results shows.
Question. How can you lose 500 million in 5 minutes.
Answer. Simples. Get 4 funds that want to buy the business from you and get Mark Dixon to conduct the negotiations.
We have Brexit uncertainty and strong competition in London, Trump doing his best to destroy trade in the rest of the world, profits warning and decreasing profits. Let us see how low this can go. Out now, but back in at 1.80. Mr Dixon must be sitting down now, thinking WTF happened to the share price and ,maybe there was something else he could have done. Like to know what was on the table, over 3.35 I would think.
Monday morning wake-up call.. no offer is forthcoming?
Let's hope we get to a decision regarding the takeover on Tuesday. Which ever way it goes, plus interim results, will make for an interesting day.
Worth keeping an eye on minnow MDZ, Ian Hallett the Group Managing Director, Brands & Ventures here at IWG plc has been accumulating a position over there, he's currently at 15%. What does the Group Managing Director of a +£2bn concern want with MDZ a £1.9m mkt cap nano cap...
This date also coincides with the date for them to report interim results, so i would think its put up time, interim results wont be great but its a growth business and Dixon may not be able to let go -
TDR, Starwood and Terra Firma have deadline extended to 7 August. Prime Opportunities not given an extension.
By 17:00 this Saturday, hopefully not deferred again, our four suitors have to put up or shut up. I sincerely wish our business to remain independent, as the future looks rrosy, however I accept that my small shareholding counts for little. If we are to be taken over, I want reassurance that the BoD extract the best possible terms. At the moment it is a sellers market so getting the maximum from an auction does not seem unrealistic.
The problem is that we have a toothless FCA, which is a barking dog without any action. The British public should outsource their Financial Market Regulations to the American Securities & Exchange Commission (SEC), which does have teeth and gets results, although still not a perfect regulator.
It was amazing how the share price shot up on the 11th May from the £2.20's throughout the day, then the announcement made after close of play that they were in buy out talks, then open the next working day over £3. Why did the price shoot up on the Friday prior to the official release. This stinks. This is clearly insider trading and it is about time we started treating these people as criminals . Some people made a killing and I feel certain that this is the proceeds of crime. Interesting to hear others views and what if anything can be done about it.
All four bidders now have a 21 July deadline.
"Weak performance of our UK business"
That is worrying when other UK operators are growing very quickly and profits are rising.
Increased growth of site numbers will add £30m to current yer expenditure yet profit only to decline by £15/20m. Looks like a positive announcement from my perspective. Could generate higher bids from our current suitors, who are expected to take a 3 to 5 year view.
We now have two who have a 21 July deadline. Two others have a deadline of this Friday. I'm expecting them to either withdraw, or also move to a 21 July deadline.
Let battle comence then
And now, according to an article in Saturday's Times newspaper, Guy Hand's Terra Firma might be geting involved.
IWG shouldn't sell itself on the cheap as I believe they have better chance of being successful going alone. Compared to WeWork valuation, IWG is worth at least double its current valuation.
many thanks
Current state of play: Lone Star Europe Acquisitions Limited: no intention to make an offer as of 4 June. Starwood Capital European Operations Limited: intention by 5.00 p.m. on 29 June 2018. TDR Capital LLP: intention by 5.00 p.m. on 29 June 2018. Prime Opportunities Investment Group: intention by 5.00 p.m. on 26 June 2018.
Bids extended to 29 june