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Hearing good things around Hydrogen fuel cells and JMAT.....
...commence! Now JMAT's share buyback is over, bidders have the chance to scoop them up whenever the SP dives. Ireckon we'llseesome % declarations before long.
Bet them eagle eyed traders are happy tonight, buying in at around 2130p , at Dow opening time ,closing SP 2295p gain of over 7.5% in 2hours , but down over 3% on the day,not quite as fortunate , took small dabble paid 2181p Gla
The board will propose a final ordinary dividend for the year of 55.0 pence at the Annual General Meeting on 21(st) July 2022. Together with the interim dividend of 22.0 pence per share, this gives a total ordinary dividend of 77.0 pence representing a 10% increase on the prior year. Subject to approval by shareholders, the final dividend will be paid on 2(nd) August 2022, with an ex-dividend date of 9(th) June 2022. Our previously announced £200 million share buyback completed on 13(th) May 2022.
Nothing new here to cause this fall. Usual overreaction. JMAT is still firmly in play with first bid coming at least £30.
https://matthey.com/hycogen-ft-cans-aramco-repsol
Hopefully a sign of things to come. If they can get hydrogen and SAF right we'll soon forget about batteries
... Jefferies tipped us and almost at same time was forced to declare they have upped their stake to 5.1%. Oh the subtlety!!
But proves I am 100% correct about JMAT being in play.
..via one of their offshore cos will, IMO, have put in place a strategy to increase their holding over the following months to perhaps 15% or more followed by a bid, quite possibly agreed by now. My guess is they will let the froth subside to somewhere aroung £21.50 before standing in the market again, rinse and repeat. That would be fine. Glad to be in and showing a teeny profit at this stage. An outfit like Standard aint gonna stop at 5%!!
Mr Condons promised upcoming strategy investors address should be interesting.
Month two and already a lion is circling.
No wonder Mr MacLeod, allegedly “retired”.
Plan C.
nothing happens over the weekend!
Sidam
“Looks a bit fishy to me.”
The price action just doesn’t add up to the news. A relatively small stake taken by a hedge fund shouldn’t cause the shareprice to rise more than five percent.
Most unusual. In my opinion there is something much more substantial in play. The market has obviously got wind of it and precipitous buying is being done by insiders. What we’re witnessing is the transferal of shares from the weak to the strong. Retail investors selling and professionals buying.
Be interesting to see what happens over the weekend.
Watch this space.
...in play. May take a bit longer but when it comes, the first offer will be not less than £25, but what do i know?
Clearly a false market has been manipulated here. Don't hold your breath waiting for the FCA to investigate.
Looks a bit fishy to me. Price reaction to large holding well over an hour after the market opened and percentage gain now half what it was at peak. Lots of coulds around and good luck to those who are stayers but I've sold and taken a modest profit.
Shares in Johnson Matthey soared over 30% on Friday after the investment arm of New
York-based industrial firm Standard Industries took a 5.23% stake in the British chemicals maker.
Matthey's stock jumped as much as 35% to 2,536 pence on
Friday, its highest since November. A London trader, on condition of anonymity, said the stake deal could be a prelude to "some kind of move", referring to possible transactions.
Standard Industries bought U.S.-based global specialty chemical company W. R. Grace & Co a year ago in a $4.63 billion deal.
As of Thursday, Matthey had a market value of 3.47 billion pounds ($4.36 billion).
Standard's stake disclosure comes a few months after Johnson
Matthey announced plans to sell or exit its battery materials business in November. Its stock had slumped 32% since that announcement. ...
"We would consider this to be something like an ideal owner for (Johnson Matthey), operational overlap on the process catalyst business and an ability to take a long-term view on the cash generation from the Clean Air business," analysts at
Jefferies wrote in a note.
Standard Latitude Master Fund, controlled by Standard
Investments and the co-chiefs of Standard Industries, would now be Matthey's fifth-largest shareholder, according to Refinitiv data.
...classic sucker tactics now with falling gains to sucker in the weak holders. I am not falling for that one!
...Must be RNS today, possibly after close!
Happy to believe a bid, - I’m finally in profit. But its not a natural for private equity is it? You’d think an industrial buyer - in which case they’d announce pretty quickly. Warning - I have a terrible track record in these predictions
Thanks Toff being stupid but how do we know there has been a bid?
Helu
There’s obviously already been a bid. I’d imagine it would be a preliminary one and £30 sounds like a good starting point.
Any bid would be £30+
“But no RNS about a bid. Clearly insider trading.”
There rarely is before a takeover is announced
But the clues are in the shareprice.
All will be revealed shortly.