Laird Share Chat (LRD)

Sad really......I think this company should have survived and would have given long term returns to investors. Management have jumped into bed with private investors to line their pockets in my opinion?

Friday 13/7/2018

Hi. Does anyone know when the cash proceeds from the takeover will be paid to shareholders. Thanks

Bound to remain at around that level as Advents brokers are mopping up the market. If you sell on the open market then you will get a net of around 198/199 after commissions

Still being traded at 200p?

well done. All the best for the future. Not much on the market for short term gains. I am jittery with the market fundamentals. It seems overpriced. Will only buy on major falls. Vodafone I am keeping. Its returned bucketfuls in the past. Look at Aberdeen/Standard Life as on sale of European businesses they promise to return capital to current shareholders (we hope). Apart from that Woodford Patient Capital as it is oversold. Some of the Companies should head for IPO,s within say 5 years. Just needs one success to power off

I'm out, not waiting 3 months for the 200p cash. Managed to check out at 199p. Good riddance to bad management. But at least I was one of the lucky ones who made some money. Was looking at Vodafone but too much debt and risky deals etc. My new journey is with Pets at home. Seems to have been given a right royal kicking lately, but all the fundamentals appear sound. It is paying a hefty 5% yield that has just been re stated in results, but I'm not really a dividend chaser, I prefer to look at the fundamentals. GLA still holding on for the cash, assuming the deal still goes ahead.

You have to go through the stock exchange and use a broker so basically on the open market. You will probably get arounf 199 a share less broker fees so around 197 to 198 nett

with sterling so low and Brexit issues. lots of foreign interest in our companies or whats left of it

Look like its all over....well just have to find another company to invest in. I will just do what the management do take short term decisions and fcuk the company and anyone else. I see Whitbread are be hounded by hedge fund managers trying to break the company up. They piled in at £36 then started rumours about a break up..they will probably sell out before then cause they've already made a packet...

I assume the 50% threshold or is it 75% may not have crossed. Advents brokers are buying on the open market so I assume it wont be long before the offer is declared unconditional

Well apparently its a done deal. Just had confirmation from broker that Laird shares will be cancelled from the stock exchange register. Well looks like the management will be popping the champagne corks now.

I would of thought so.

scenario 1 prevailed...

Yes let's hope so, I see that the SP is creeping up today? Might just be a mid day blip but who knows what's cooking in the background...still think that the remaining 73% of shareholders should hold out for 250p minimum! I will be saying no to the offer, that's for sure.

Unless ofcourse Advent get over 50% in the bag. Any alternative offer may well be hostile. so they have to be properly resourced for an alternative cash offer. Sterling has been quite strong and with a trade war now declared, the Chinese will be cautious but Koreans and possibly Indians will be running a ruler over the figures

Its only been a week and the purchase prospectus wont be issued till 17/04. Advent are mopping up but as other Hedges are also buying (possibly for an alternative buyer), a credible offer may not be happening till end March or early April

Where's the Chinese when you need them?

Yes I just checked back on the takeover articles and it says .................. "Laird, which makes wireless communication equipment and technology for automated systems, said it considers the terms of the deal to be “fair and reasonable” and directors plan to recommend the deal to shareholders. Advent said it has already secured support for the takeover from shareholders representing 27% of Laird’s shares. The deal needs approvals from shareholders of at least 75% of Laird.".......................... I just can't see it going through based on what Advent have offered or current take up.... Why don't Advent just cough-up the fair price of 250p not the artificial price that was created just prior to the announcement of the great results and subsequently undervalued offer from Advent???!!! AIMHO

There's no chance whatsoever of Advent getting 75% on this offer at 200p.IMHO

Actually the % is 75% not 50% so quite a high threshold

A couple of Hedgies have taken a position (and not buying for Advent) hence the spike in the expectation of a counter offer but so far no counter offer so we enter the home run. Next 12 days to 17/04 is crucial It seems Advent have still not got 50% in the bag although their advisers like Goldman Sachs, J P Morgan are buying in the open market. It is a wait and see for us now and definately vote against the takeover before the 17/04 EGM where Laird shareholders will vote for or against the takeover If over 50% vote against then either Advent offer more or walk away unless there is a counter higher offer from elsewhere. Advent are on a winner here as either way they will profit

Latest RNS shows asset manager increasing long position by 1'000'000 shares. Still not sure what it means or why shares spiked at 204p.. Still think it may be some sort of market manipulation before the meeting on the 17th.

http://www.laird-plc.com/#laird031 Nothing about why he is recommending sale at �2. wtf

I will also say no to the current offer. The future for this company is still good as they are in markets that are expanding and with a half decent management should be at the forefront.

Moniman, If I am not mistaken, he also has an option on 675,000 shares at nil payment which was subject to the shares reaching a predetermined price which has been reached. No wonder he is keen the Company gets taken over. Always remember UK PLC is run first and foremost to benefit management, then Bankers. on this one luckily there is no Pension deficit but I wonder what happened when Laird had Shipyards and their employees pensions.

Well I see Tony Quinlan has offered his pathetic little holding at 200p. Well of course he would. I've got more shares than any of the BOD and I'm not selling. They still only have 27% approval for sale to Advent. 250 still on cards IMHO

Same happened to Monitise. Luckily I got in really low and managed to get out with a profit. Management gave .negative news just prior to accepting a very low offer but the BOD all got jobs and bonuses. Then once the company was removed from listing the PE company sold off chunks of the business for £10s millions..... Laird and Advent are doing the same IMHO.

As an example, I bought into Globo, a purported technology company on AIL being audited by BDO. There were negative reports and BDO resigned so I wanted to offload but they immediately appointed Grant Thornton who gave a clean report so I hung on. A US hedge fund then put out a report that Globo was a fraudulent company with no technology. The CEO Theo Paphitis met with the Board and told them he had offloaded his shares. Presumably, others had too and Receivers were appointed in October 2016. The Receiver said there were no Assets and in the meantime Management disappeared. I dont think they have been found yet So far FCA are still drafting the Report Financial press were encouraging people to invest and the Nomads too (All have now taken a low profile)

Bank of Motreal have sold over 8 million shares since the announcement of takeover. I assume some have been bought by Advent agents but a number of Hedge funds have taken a position. The massive position taken just prior to the announcement is a mystry. Surely, Advent or its agents are precluded from buying prior to the announcement unless since it is on the open market anybody can buy

Unfortunately, in most UK PLC's management almost exclusively run them for their own benefit and there are no repurcussions if anything goes wrong. Only Pensioners and small shareholders like us lose out. The long term shareholders have all suffered but the look at the dire state of some of the Companies in UK PLC. A lot of them have massive pension black hole and the Regulators are weak and dont have teeth.

Yes we are bitter, come on there has had to be a underhand ? undetetected deal going on

Lets face it, us shareholders who supported the company over the last couple of years and decided that the company still had potential to develop into a bigger market despite the mismanagement hiccups, have not had a thank you from the company. The lack of on going information since the well supported rights issue to get them out of the slump they were facing and push them forward into the next phase, was then just met by utter silence from the company which obviously was very worrying. They did not have to indicate that they were in talks over a possible take over ( how long were these secretive talks going on ) but, progress in the company was moving ahead as they had predicted in the distant past but by not issuing an update which was well over due, they muddied the waters. The management needed our support, but most of them will now have feathered their nests and will end up in lucrative positions and be rewarded after the takeover.

Let's hope a hostile bid comes in before then. I don't care if its the Chinese as the management don't give a toss about shareholders anyway......

AGM 27/04 and I believe prospectus on sale will be issued on 17/04

Yes Upper I'm in to the bitter end....private investors are being sold down the river. The Board have deceived the market IMHO by not giving the usual Q4 trading update hence artificially affecting the SP prior to the takeover announcement. Do you know when the vote going to take place?

There is an RNS on Quinlans shares. I dont quite understand what he is upto?

I meant like me you are in until the finishing line in May

I assume you mean 4th Quarter update should have been given in January. By not doing so, small shareholders would have been spooked and probably sold out. Frankly, the governance by FCA and FRC is very poor and Londin Stock Exchange is non existent On a positive note, Goldman Sachs are buying on the open market for Advent and other hedge funds too since the takeover was announced which would suggest a counter offer will come through which probably would be hostile. Advent will make a packet and probably made an offer with the intention to flush out a real buyer. The Management Quinlan and Dangerfield were probably aware of this Moniman I hope like me you ate in until the finishing line in May

I agree that if the company had issued a third quarter update in January the share price would not have fell like it did. By not doing this they caused doubt in share holders and potential buyers minds, that the recovery was not going aswell as previously predicted. This has kept the share price falling and made the offer look attractive. If a third quarter trading update had been forthcoming, I am sure the share price would have been a lot higher and any takeover offer would have to be higher. Come on Financial Conduct Authority surely lack of information constitutes market abuse

What about contacting the London Stock Exchange to.

That's great to hear, it definitely would appear that insider dealings occurred leading up to the results and should be investigated. The company always gives a trading update in January forQ4. Management were deliberately holding back good news whilst possibility working with prospective buyers in large selling activity. I also noticed that the day before the results two separate £1 million buys went through. Which is several times the normal trading volume. This should be reported to!

In the longer term, this share is worth �3~4, that's why Advent International put an all-cash offer of �2, they are expecting the price to go to �4 ~6 in the future. I agree there seem to be something really odd for the Board pulled the 4Q results. Had the 4Q results been released at the end of January the share price would probably �2 anyway. Hence we are being cheated out of value and we do not get a dividend! I've put a complaint into the FCA on the matter of share price manipulation and insider information dealing. Perhaps other shareholders will do the same?

Advent takeover at 14 X earnings is not on. 20 X earnings is 285p and that is not taking into account future growth in a Company which has hardly any debts. Nevertheless, Laird can remain independent in this fast growing market with the big boys. They just dont have the resource. Laird, the previous ship builder has come a long way but are there any pension deficits?

Advent have also indicated they were proposing to sell off the connected vehicle division. They are not stupid to retain the other two divisions. They are onto a winner here but are deluded and a counter offer will come through It will be done and dusted by end May. The mid April takeover documents from the Company will be binned!!

I am not bailing out. After the takeover announcement, Hedge funds are piling in and building a stake so there is bound to be a counter offer. The connected vehicle division alone is worth a packet and contrary to what I thought even the wireless division was up 4% so no negative effect here. The management were silly to make this an accepted offer. They should have announced an approach only at 200p which has been rejected. On around 170p price at Q3, the shares are commanding 17% premium only and yet Q4 shows more progress except the $ headwind. I am sitting on this as no doubt another bidder or bidders will emerge including the chinese and Koreans. The minimum takeout is 250p but with bidding war who knows. It can well go 250p +. After all, they were 375 to 400 p only 15 months back The hedge funds and there are several who last friday were buying. Some may be buying for dvent but others will hold on to sell to the highest bidder. I wonder how they did at the exhibition in Korea Advent had assurance from 27% and may have expanded their hold to 35% so guys hold this one till the bitter end. My average price is 120

Well guys for those thinking the offer is too low then there is still a good possibility of a white knight riding in with a better offer. Looking into this Telydene, Eaton and Amphenol along with other PE's could all see this takeover as an opportunity to get in on the act. Cooper Industries were willing to pay the same price 7 years ago, despite the rights issue, the company has more than doubled it's turnover and profits since then. If you look at the prospects for all three divisions and the IOT prospects, the Laird os is more valuable than the current offer IMHO. Bearing in mind the SP was over 400p two years ago on much less turnover and profits. The maths is simple, the company is being undervalued and is currently worth circa 250p IMHO. Advent know this and that is why they have pounced now, after the SP a driven down by MMs prior to the takeover offer. Well this is just my humble opinion, but it does make some sense I believe. So I'm voting no.

Looks like you've all sold and moved on.....where are we all going now? Unless of course this story still has a bit more to go.....

Post brexit PE firms have been consistently outbid late in the day by international trade buyers, the biggest example I can think of being an Australian company (Link Group) outbidding CVC by 30% to buy Capita’s Asset Management business last, last minute. Bodyshop another smaller example. So here’s hoping...

no complaining. A number of investores especially the long term ones have lost a packet and you have made money so be grateful and give some to charity like Great Ormond Street or the Air Ambulance. The balance into high dividend paying shares like HSBC and Vodafone especially if your money is in ISA (only my opinion). Still nursing my excesses with Globo but recovered some at Laird

Happy overall as the price represents a 65% gain for me. The only problem is what to do with the proceeds. Heavily in cash at present as I see little value elsewhere. This was great from a value and growth perspective and Advent agree. Even with a 70% premium to yesterday�s price. Not that many clear winners out there to invest in.

a buy?

Patience Wily, it is in play and buyout documents are not going out until mid April. in the meantime, J O Hambro and others are beginning to take positions. It is not over until it is

Shore Capital have put a BUY on the shares today at 200p - what do they know that we don't :)

Having done a bit more research it looks like not only have private equity firms but US technology giants Amphenol and Eaton could also become potential bidders in the coming days/weeks........here's hoping. 200p is nice but 250p would be even better.

Looking back US company Amphenol (rival to Laird) have been previously rumoured to be interested in takeover of Laird as part of its own growth strategy. Let's hope bidding war starts, just like Comcast have done with Sky this week. I'm holding on....

I think 225p could well be in reach now that Bidco has shown it's hand? Why sell at 200p when it's almost guaranteed. Even if the offer fell through the re rating and further growth could take the SP above 200p within a year potentially.

According to report from Yahoo finance possible hostile bidder may come into play........? "shares in Laird were up slightly above 200 pence in morning trade indicating that traders think there will likely be another bidder who will offer more for the firm."

According to the FT, Institutions own less than 40%

Well I was so ****#d that I assumed management had thrown in the towel and abandoned the shareholders, little did I realise they were cooking up a cheap sell off to line their pockets IMHO at the expense of long time holders.

Moniman...well done for sticking with it and making so much, even whilst you we're of the opinion it was going to zero..

Well done for holding on. There's a high probably the insiders have been at work here, but they will no doubt cover their tracks..Champagne tonight

Moniman, dont be greedy. you are �300k up and perhaps a counter offer may emerge at 250p so all good news here now + as it is in your pension, no tax to pay There are lots of losers sitting at above 300p cost and will lose a packet here. This is a small company in this space and needs to have massive liquid resource to invest and cant survive on its own I wonder if the 2 million bought yesterday at 9 am was insider trading? or just a speculative buy? could have been Advent. we will know if that was part of a stake build. I have a much smaller holding of 45,000

It just looked like it was going that way, but hey management have still deceived everyone because the SP has dropped too much. Cooper Industries were offering 215p 8 years ago when the company was less than half the size. The offer should be 250p and maybe a hostile bid will come in from someone like Eaton who took over Cooper Industries.

...The long awaited t/o has happened. I was in was in here at 116p about a year ago, took up the rights and hung on until I was tempted by 160p back in October. Made a decent return and always intended to get back in. However the SP only went one way and I couldn't find the right time, always looking for an upturn that never came. I'd decided to wait for the results and then make a decision. Well, the results are good, but I've missed the boat. Well done to all those who bought in the low 100's, but spare a thought for those LTH's who are losing out badly. Personally, I always believed LRD would turn around and repay the loyal holders, they are a good, solid company. It just seems sad that now the hard work is starting to pay off, the gains will go to a private company.

Well I have to declare that my intense interest here has been because I bought Laird six months ago at ave of 140 for my pension expecting dividends and steady growth but have been ****#d off with fall. I have to declare I have 500,000 shares so champagne tonight guys....yippee yippee yippee GLA who held their nerve here yippee again.....

That's all good but my average is �3.53 so on a loser here.....The results look fine as well

What did I tell you....lol

Christmas came early .....

Recommended cash acquisition, 200p.

Looks like shorts are closing 2million shares bought at 9.00 today?

Last chance saloon tomorrow. Moniman, I hope you are right and there is a takeover at say 200p and suddenly a competitive bid emerges and the company is sold off around 250p. Is it fantasy? tomorrow will reveal the true status. All the noises have been positive from Brokers, Nomads and others but the shares have only headed south.

Well D day is approaching , with SP still 25% down since October Q3 trading statement. Let's hope for another positive statement for Q4 and squeeze on any shorts.Provident Financial really burnt the hedge funds today with90% rise on rights issue. Better still let's hope hostile takeover from Chinese....as current management lacklustre performance.

Yes I saw it, but doesn't make sense as no official statement from Laird. Also Berenberg issued another buy rating on Friday with new target of 195p...

Got a notification from 4traders today to advise that results will be below analysts projections. Anyone else see this?