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mil much appreciated
MIL. Goldman Sachs have reduced their holding (RNS late afternoon)...to save you all tracking back like I have just done - having looked at the %ages and prices, they have simply sold the batch they bought early in March after the fall, at about 8p, selling probably on the date that the news broke....so they seem to be profit taking. They still hold in excess of 10% of ISC bought at a massive premium to todays price.
MIL. Good point raised on ADVFN, that being that it was announced via the RNS dated 15/3 that..... Paul Tebbutt , CEO of Millfield Group plc has today exercised Options over 149,364 Millfield shares at an exercise price of 0.175p per share .These Options were originally granted to Mr Tebbutt prior to the Group's flotation on AIM. Consequently, following the exercise of the above Options, Mr Tebbutt's shareholding in Millfield Group plc shares as at the 15th March 2006 amounts to 1,594,490 shares ( representing 1.34% of the Company's issued share capital ). Why would you take on more shares..and not sell them.... if you were not confident of the future??? Sounds like discussions could be further down the line than perhaps people believe.
mil third rns holdings Fri afternoon again Cenkos keeping themselves very busy,they have also been shorting successfully from 10-9.75 theyve still got one open.I suppose this is going on all the time and only so transparent because we are in a bid situation.No intention to be bearish just pointing out the facts.Still holding and optimistic!
MIL Rule 8.3 Trafalgar Asset Mangers bought 1,450,000 =1.22% LONG CFD.(I assume thay have no serious intentions but are punting) Rule 8.1 Cencos Securities Ltd holding 26,745 = .0226% 4Xbuys and 4x sales = profitably trading the shares The only thing I deduce from this is were playing with the big boys+ to watch carefully.Hopefully more interesting holding news will come
mil Hi have a nice weekend saw only these 2 Bsells toal 57ooo but if I understand correctly a Bsell is the same as a Bbuy in that one B sells to the other that buys.So not much of a blink but maybe somebody is trying to fill an order.
mil it seems like these are up again with little activity probably a big Tbuy or 2 in the background yet to be announced
mil thanx again very helpfull,have a nice day!
MIL. Losses are an attraction to a purchaser of Shares, because they can offset via mergers etc and other Corporate wizadry so that Corporation tax falls away by the Bidder Co.
MIL. Thanks GedW. I was trying to weigh up whether the balance sheet would suggest that a premium is likely to actually be paid for this stock...if the tax losses can be carried over, then I would think so. I'm no financier though, so for me this is finger in the air stuff unfortunately. Many thanks for your contributions.
MIL. The possibility. In buying a target Co (ie shares purchase) rather than the Business, tax losses or any surplus Corp tax would fit the first option. There are rules which may deny the benefit of these if there is a major change in the nature or conduct of the business, but the buyer may consider the risk worth taking.
MIL. Dinky.If the purchase is for the shares, a Share sale, then all that changes is that the Co has new members, the Company will carry on as normal with Assets and Losses intact. If the Co is transferred as a Business sale IE Assets only without new members then the losses will not be carried over, they will remain with the existing owners.
mil it does look like we ought to have faith in our choices.! Rumours flying around that they have a suspect bidder but only rumour.GedW have you seen Dinkys question?
MIL. Copied from ADVFN: Actybod - 30 Mar'06 - 19:04 - 553 of 560 Money mags that landed on my desk this morning confirmed that it is Aegon who are rumoured to be first in the queue for MIL. Didn't bring the paper home so cant type out all of the article but it says that the acquistion will bring the reps for them to a total of 3000 - more than 1500 coming from positive solutions - a network that I think has a very good reputation. From a poster called Lord Orphan on iii: Aegon/Positive Solutions are interested in 1. £120m turnover - difficult to find in the IFA sector and on PS's cost base would be profitable 2. 1400 advisers including some very good people 3. Good compliance regime - MIL has few complaints 4. £100m tax losses - at the current commercial rate these are worth more than the current market cap and you wouldn't be able to buy these off an administrator GedW - do you know if the tax losses are still usable by the new owners, if the company is brought out?
MIL. My belief is this. Putting myself in any buyers shoes.... the target being MIL is almost at an all time low in terms of sp.....but it has only been there for a short time..therefore, I can guarantee that I am going to have to pay significantly more for my shares than they are at today. So, why not buy what I can, whilst negotiations are ongoing? Then, when I come to make an offer, I will have less shares to buy up. The question is whether I now have to make a holdings announcement if I am an existing shareholder with over 3% interest alreadt. But, if I don't already have a stake at all, I won't have to make an announcement for some time, so no one will be any the wiser. Who knows.....but something significant is going on....and as it was on FT.com this morning, I think we can expect more press, or hope so anyway. Ofcourse, this could be just me dreaming as usual.
mil we always here lots of mm stories that we woul like to believe,Maybe it will be clearer at the end of the day if thers was a reason for the drop.At the moment there is no new news all we can do is wait and try to follow signs.Do you think if somebody new has bid they HAVE to build stake maybe they could just make an outright bid?I dont remember hearing for example of nasdaq holdong lse stocks.This could be a very different series of events.Its not a case of are they going to make a bid or what are there intentions?It is a case of they are probably dicussing it and we have to watch how far negotiations go or if they break down?
MIL. I believe they are now encouraging sellers....due to a lack of stock (which they must have)..and holding the price back/down for the interested party to stake build. The 1.1m & 1.4m trades at 10p at 11am (bid 9.5/ offer 10.5) are the interesting ones...and ofcourse I could be wrong. But i'm staying for now to see what unfolds. As GedW said with DGM, "this is not a take-away" situation and therefore it needs time, but there is no way that the institutions or directors will accept a pittence for their interests...surely.
MIL Bond to be some profit taking after yesterdaay(bit scary)The main thing is the resons we bought and are we following the signs.Maybe we will see a holdings annoucement soon and the plot will unfold,its still amystery as there is is already a 21% holder who I believe has never stated any intentions one way or another?
mil maybe just a few nervous holders jumped ship they have however noz stopped the buying!
MIL Certainly looking better!Thhanks for reporting blinks alwasy good to know when accessing the situation!
MIL. Looks like we are on our way back up and for those not watching trades, there has been 3 x M trades in the last 1/2hr - a 15k, a 25k & a 250k.... I am happy to sit and watch this now..holding with sufficient knowledge/understanding to believe the future will be brighter than yesterday ended. Good luck debbie & uncle Tom & anyone else on the bandwagon. Over & out.
MIL. An article from yesterday on Citywire: Millfield soars on bid approach Published: 09:19 Wednesday 29 March 2006 By: Joanne Wallen, Online Editor Financial adviser group Millfield’s shares gained 25% this morning after the firm said it had received an approach that may or may not lead to an offer for the company. Shares (MIL) are up 2.175p at 10.5p, where the company is valued at £12.5 million. A year ago, shares were as high as 41.5p. The company bit off perhaps more than it could chew in 2004 when it bought rival Inter-Alliance, and while turnover soared to £123 million in 2005 from just £41.9 million, losses soared also, to £20 million from £14.3 million. The largest shareholder in the group is Invesco Perpetual Income fund manager, Neil Woodford, who holds 20.7% of the company. US investment bank, Goldman Sachs, holds more than 11% of the company having recently upped its position in the group.
MIL. I believe they have disposed of a loss making interest in a non-core business unit (accounting), to focus on financial advice propositions. I think it's a good sign - they are focussing their efforts & resources on what they do best. Ofcourse, they could also be getting rid of bsiness interests that the buyer (known to them) does not want....for a cleaner, more appealling deal.... Just speculation though. These are my thoughts anyway.
MIL. - l RST has been accounted for in the accounts of Millfield as a subsidiary and accordingly the disposal is being treated as a related party transaction for the purpose of the AIM Rules. The Directors of Millfield consider, having consulted with Cenkos Securities Limited, Millfield's nominated adviser, that the terms of the transaction are fair and reasonable so far as shareholders are concerned.
MIL. - continued..... The RST Group was primarily engaged in the provision of accountancy services and advice and also engaged to a limited extent in the IFA business, which Millfield had hoped to expand. In the event this has not proved to be practicable and this transaction represents an opportunity for Millfield to exit this business area releasing management time and financial resource which can be devoted to Millfield's core business of the provision of financial advice. Commenting on the disposal, Paul Tebbutt, Chief Executive of Millfield Group plc, said: 'RST is an accountancy practice in which Millfield acquired a minority interest in 2003. The decision to dispose of our interest in the company is part of the Board's strategy of focusing on our core financial advice proposition and divesting of such activities that are non-core.' In the year to 31 March 2005 (the latest date to which audited accounts have been made up) RST Group Limited and its subsidiaries incurred a loss on ordinary activities before taxation of £479,263 (2004: £839,305). The net liabilities of the RST Group on a consolidated basis were £150,870 at that date. RST has been accounted for in the accounts of Millfield as a subsidiary and accordingly the disposal is being treated as a related party transaction for the purpose of the AIM Rules. The Directors of Millfield consider, having consulted with Cenkos Securities Limited, Millfield's nominated adviser, that the term