George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. 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.
Mitie shares rallied on Tuesday after the Competition and Markets Authority approved its acquisition of Interserve's cleaning and maintenance business.
Mitie announced in June that it was planning to buy Interserve Facilities Management for £271m to enhance its position "as a leading UK facilities management company".
Earlier this month, Mitie revised the terms of the acquisition, reducing the price by £81m.
Ahhh Brexit.. I'm holding cash back for next week.. Can't hurt.
A lot of companies (Banks and Construction) are re-instating dividends in the results statement, would be a boost if Mitie did too.
Haha, no problem!. I’ve held Mitie for years and everything looked in place, monopoly decision, Interserve deal, results tomorrow which we know are decent, new contracts and a very cheap entry price. If brexit had been sorted I’d have said 50p!
TheMoDPainter - I'm sorry, I laughed when I saw your 40p comment, I thought they never move that fast! Imagine my surprise (and delight) when checking at end of the day. Good call, and good luck.
I don't think 60p is unreasonable in next week or so with steady stream of good news!!
Mitie shares rallied on Tuesday after the Competition and Markets Authority approved its acquisition of Interserve's cleaning and maintenance business.
Mitie announced in June that it was planning to buy Interserve Facilities Management for £271m to enhance its position "as a leading UK facilities management company".
Earlier this month, Mitie revised the terms of the acquisition, reducing the price by £81m.
Great we are already up 11%.
This is the last chance to buy this gem.
This should be at 60 pence by Friday.
CMA approved the decision today. Still needs SH approval though.
This will be £1.50 by next December, from my research they have a tender in with HICL, looks like facilities management for the hospitals - Potentially worth £200-£400 million and it looks like Serco aren't competing with them.
I’m hoping for 40p minimum today
It has taken a week longer than I thought to get to mid 30s- what to do now is the question? Think I will hold for mid 40s.
Patience sir.
thunderbird2020
Agree but the sp did not move so i moved on. will be back.again for sure.
Hmm, I also thought this news might propel the price a little higher than it has. If not today, will it now wait until 23rd or 24th November for Shareholder approval? A little speculative growth may occur in between hopefully.
The recent rights issue was made to fund the Interserve deal at £271m. Following the fund raising the share price adjusted down to 36p. The planned.. purchase price is now £190m. If we apply this 30+% reduction, as an uplift to the 36p, we arrive at a price of 47p. This seems like a reasonable short-term target price. At this level, Mitie is still selling at a pe significantly below the sector average.
If the aqui is £80m cheaper, and the market cap was circa £300m at start of the day, surely this, plus the strong trading should lead to an increase in SP of at least 20%? Or am I missing the trick here.
Buying pressure this morning on the back of fantastic Interserve and trading update news, I see a gap to 50p once we break 31p!! Fun ride today.
I think the revised terms were worth 10% on sp and improved trading another 5% so, sp should be at least mid 30s by tomorrow- we shall see.
Agreed - time for a re-rate to take the SP back up to (at least) the 40s
Well, lets just acknowledge firstly that MTO has been a dog of a share - only fractionally off its year low.
But maybe it is stirring & getting ready to bark. The Interserve facilities management has been renegotiated in MTO's favour & is ready to complete. The very word Interserve has struck terror into MTO's share price whereas the potential benefits are enormous. Other than that trading is improving.
The facilities management segment of the stock market has not been a very comfortable place to be in the last couple of years but MTO could be the big winner to emerge from the carnage.
Forward PE looking beyond this year is ridiculously low & a return to the dividend list awaits the patient.
A re-rate is long overdue & should now gather pace.
That the sp has not risen in line with the reduced payment for interserve- maybe the analysts have not yet worked out the full impact.
In the absence of some encouraging news-bites from the company and its brokers, frustration will continue/grow and lead to further price erosion. The company needs to demonstrate some loyalty to its long-suffering shareholders.
Its become a question of which share to spend my remaining pennies on, everything so tempting at these prices.
I believe in MTO, but also good prices for BA(E) and TW. MTO feeeels like the most immediate potential..
Surprised by the movements and lack of buying, volume and trades have dropped off a cliff yet we are still dropping....
Agree re the deal, no reason to doubt it. The charts are a bit clever for me, but again agree, good things ahead and not too far away I think. My hopes of a divi may be optimistic, but a hope nonetheless.