Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Hmm. It doesn't actually say much, beyond 'we've bought some stuff dirt cheap, but we're not really sure what to do now. I'm sure it will be good though". At least MF's business model was better than that.
What's in it for customers?
What are the plans for integrating internal systems and processes? (the mess over HP systems and process integration is pretty much what brought MF down)
FYI here's an article I found discussing how Opentext is integrating Microfocus, perhaps of interest to anyone still visiting this chatroom,
https://www.theregister.com/2023/05/04/opentext_micro_focus_acquisition/
( W ) Paid out yesterday lucky I sold on ( D ) 13th and the larger amount 30th January and I was not charged for the second part of GTC order 17 days after the small first execution .
Had some funds one month early second lot two weeks early .
To all invested here and very nice to have made some good money here and hope you all did well.
Shame it wasn't a bigger offer but still a very nice earner.
Wishing all invested here a very happy time with your future investments.
All the best.
Confirmed by RNS (that's completion of the takeover, rather than my summary of value destruction):
https://www.lse.co.uk/rns/MCRO/scheme-of-arrangement-becomes-effective-y2uiyr995ppwdy3.html
Well the share is showing as suspended at the agreed takeover price of £5.32. I guess the takeover has been completed. So, if I've got my numbers right, in round $bn:
Management had a $15bn market cap company.
They sold off the SUSE business and returned $2bn to shareholders.
They turned the remains into a $1bn company.
They doubled that to $2bn of value only by agreeing to go away and let someone else take over.
Fair summary?
528.60 - 610.00 . Massive spread no market for them .
Logged on for 8am ( W ) will not give live deal .
Your order can not be completed automatically
The rest of the GTC order executed 5 mins after close , it appears I have not been charged a second dealing charge the first part execution seems to have covered it apparently .
Looks like I have funds 14 days early .
Post 26/8/2022 below.... Micro Focus' shareholders will receive 532 .
Placed a GTC order for the 532p two days ago surprised to see a small amount executed at open .
Maybe I will not be charged dealing if more go through before mid Feb .
( D ) Showing 15 .72 % up overall now not sure what the -36% below was about .
( W ) Transferred in July 2021 that must be a big loss ?
Payout 14th February 2023 ( W )
Nice one, opulentia.
Not long to wait now.
Gentle SP movement up over next 6 weeks.
Then £5.32 pay-out.
Micro Focus, it was a very nice ride, good luck with your new owners,
GLA LTH
A but worrying although probably think can make more than 3% elsewhere so why wait.
Think the SP would have dropped further if any issues
JPM offloading a chunk...... I hope they don't know something. I was kind of settled waiting this out until next year. Arrrgh!
Missed the TS as well. Looks like MF have still not found the bottom of the revenue number. I suspect it might be ~$2 billion. If you could get costs in line with this and maintain margin/FCF you could have a decent wee business. No doubt this is what is going through OpenText's minds when they made the bid. I would love to see an alternative bid come in from a team who see MF as a successful, growing independent entity. Personally, I think it is sad that another UK tech company is being let go so easily by our government.
Thank you Strathy. I'd missed the Trading Update RNS in the waves of holdings statements that now deluge my inbox. Sales down 6% (after Digital Safe and Russia excluded) is obviously disappointing. However free cash flow is still positive and even better than expectations. The cynic in me wonders if there might have been a less-than-normal focus on closing sales before the year end, as the Exec may have little incentive for that now ('close the deal, take the undeserved bonus, run, hide' thinking?). I suppose the only hope now is that a sharp PE investor outfit spots the easy win and makes a less derisory offer.
Released a trading update 3 days ago. Was hopeless! Thankfully an offer is in which has prevented the market hammering the price again. Headline was revenue down 14% yoy though 7% when you take out digital safe. I’m afraid your correct concerning reward for failure. Great potential with the correct people steering the business. I held on after the bid for about 6 weeks hoping for a counter. Seeing the revenue numbers, I can understand why the board recommended to accept the bid so readily.
Anyone know if we're expecting a trading statement this year? In the absence of any communication, it's hard to know if the Exec have given up either on turning the business around or on the possibility of getting a better offer. My presumption is that they have largely given up on both and are just counting down the days to being handsomely rewarded for their failure.
Yes - it is the opportunity cost though.
There are some low priced companies e.g. GSK, VOD - could you make more than 2.7% in those in next 4 months. Will get divis from both of not much short of 2% plus chance for capital appreciation.
That is what I am trying to work out plus always chance Opentext pull out and you could lose c50% overnight.
Anyway - I have been trying to work out what to do but have stu payed put here - I do reckon selling and plonking in 4 or 5 other shares may be best and let risky
I thought it'd be interesting to see what effective interest rate you get by investing in (or holding on to) MCRO at the moment. I make some assumptions:
* the deal doesn't fall through
* for easy calculation I'm guessing the deal completes mid 2023Q1, specifically 4 months from now (mid February)
* the share price is about 518p (this seems to be a typical pre-close price on Friday, I'm ignoring some high after-the-close prices)
At completion each share is bought at 532p, so a difference of 14p in 4 months. That's 2.7% in that time, equivalent to 8.1% per annum (back-of-an-envelope calculation multiplying by 3, I know compound interest is a bit more complex than that but the figure should be about right). That seems like a better bet than the building society, assuming you agree that the deal is not going to be derailed, completes by the time above, and the bonus item is that there's still the chance that a late higher offer could come in.
Always do your own research (DYOR) etc
18th of October is General and Court meeting. Should be finalised Q1 2023.
Any progress or snippets of info on the agreed takeover in terms of voting in favour of or opposite and any future dividends?
It’s 532