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It says purchased from Tony B not by Tony B
TB sold his holding
Says Constellation Auto belongs to Tony Brammall in the news this morning if I’m reading it correct. TB is the Ex Chair of course
(Sharecast News) - Car dealership chain Lookers revealed on Monday that Constellation Automotive had purchased 78.0m ordinary shares in the group, representing approximately 19.90% of its issued share capital.
The London-listed firm said the majority of the sock was purchased by Constellation's Tony Bramall, who stepped down from the board of Lookers in December 2020 after 14 years with the company, at a price of 102.0p each.
Monty
How do you work out Tony B is building a stake?
He just sold the shares to constellation ?????
Let’s face it. Constellations Lookers shares are now only worth 89p. They would not be paying 102 if they were not seriously considering a full bid, irrespective of whether they are supportive of Lookers strategy or not.
As predicted people waking up to the free money, From a slight negative start first thing it’s starting to gain traction now. I’m still at 95p ish by close today, then 150p c. 8 months time or earlier if we get a takeover bid which I strongly believe will happen within 3 months - Let’s see….
Also loaded up again. ????
Morning…Brammall has now sold his stake to Constellation
From MMH chat 29/11/2021 re takeover
"Constellation are paying a 41.3% premium on Friday's closing price"
Just doubled my Lookers holding...
Especially now we know it’s Brammels investment machine at work grabbing 20% at 102p. I think everyone is a bit sleepy this winter’s Monday morning. I think we will close at 95p by market close today….
Well with a installation clearly agreeing with BOD that Lookers is significantly undervalued and the update today things are very rosy in the garden. It’s a no brainer we are worth more than 102p NOW. I think this is closest thing you get to free money at very very low risk. I’m sitting on 120k shares now and recently invested following the money that really knows (Tony Brammell). He might building a stake to take the company private, it is likely to hit a minimum 150p inside next 6-12 months without any takeover speculation so at 90 to 95p it’s an incredible investment. (All IMHO).
So is this just a question of when it happens, after all if they are prepared to buy up stock at £1.02 surely they would be buying in the market at 88p ish.
Maybe £1.02+ is the true value here.
In my opinion it is highly likely that we will see consolidation of the Retail Automotive space in 2022. The digital offering of the likes of Cazoo and Cinch have already seen a number of new players enter the very lucrative second hand car market. As such traditional retailers including Lookers are increasing their presence in digital market to compete. Assuming that the shortage of new vehicles continues well into the current year and profitability remains well above the long term trend a bid for lookers now would look to be very well timed so let’s hope for news on that front very soon.
The following trades all at 102p late on Thursday according to Sharepad:
22,612,506
7,218,750
3,609,375
2,528,349
153,850
So a total of 36,122,830 at 102p or £36,845,287 worth.
10% of the company bought at a significant premium. Got to be a very strong chance of a bid here.
Very very good call. Me too.
In fact, I think I'll have a few more.
Don't know why people are selling at circa 90p when there's someone willing to pay 102p and probably much more. I'm holding tight!
Cinch no doubt.
Someone bought 6% of the shares at 102p yesterday. When do they have to make an announcement about that?
MMH got taken out just a few weeks ago at a huge premium - so any bid here will have to be north of 130 imv to stand a chance.
Someone bought 22n shares at 102 yesterday afternoon.
At 90p, its market cap is just 3.4 times 2021 earnings.
Insane.
Does look like enourmous stake building going on now. It’s cash, inventory, assets per share are a little north of 100p. So take out 115p plus or minus 10p. SP needs get higher to stop this low ball take over. A year from now will 150p plus. I think this will jump again when the market opens this morning.
I would say a forward P/E of around 15. We don’t have a positive historic P/E due to a slight loss. However after next year end results we should be on huge re rating (Inventory and execution of strategy assumed). At that time I expect fair value of 150p broker ratings citing c. 190p
It's going to make c. £100m in 2021.
Current cap is just over £300m.
Still insanely cheap.