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Scarecrow results on 17th November & not that you have to believe in charts but if you view them from a psychological stand point the market is expecting movement, soon.
No reason to believe the deal won’t go through & results / update much to be expected.
Market does t wait for news.
I think the price will stay fairly static (29 - 31p) until late November when news of the Interserve deal may be firmed up. If the company also committed to a Divi not long after that, that would give some momentum. Fingers crossed.
Took some more.
Wedge is ready to break in the next week or 2
Or maybe not
Something very substantial changes....
Bottom is IN !!
Correction: Serco and not Servo!
The excellent news from Serco should positively upgrade the outlook for the Sector and will lead to a rerating for MTO.
Looking likely to break out tomorrow or Friday. we'll see.
It’s growth you’re buying into tho fella. can see why you think 25p will come but I would say lows are in the way 29p was bought into!
4/5 weeks till f/y results, streamlined and acquisition, nows the time to be jumping in with lots of A trades going through.
Limited downside.
Nice looking gap @ 80p. Ain’t going there overnight. Slow and steady.
Hi Almo, in the event of an MBO, the company would become private and loose its LSE quote. All shares would be purchased at a price agreed by the Board and approved by shareholders at an EGM. To be successful, the price would need to be at a significant premium to the current price.
Morrisons we " guilty until proven innocent" to that effect we will see big falls, followed by stability and then eventually strong gains.
Comparison with Serco
Serco shares in issue : 1,233,380,637
Serco Market cap : £1,572,560,000
Serco Net asset value (at 30th June 2020) : £683,200,000
Serco Net asset value per share : £0.5539
Market cap = 2.30 x NAV
Liquidity and covenants
As at 31 March 2020, the Group had £426.5m of committed funding arrangements (FY18/19: £466.5m). These comprised a £275m multi-currency Revolving Credit Facility (RCF) maturing in July 2021, and £151.5m of US Private Placement notes spread over two maturities: December 2022 (£121.5m); and December 2024 (£30.0m).
Overall, the Group reported net assets of £80.5m at 31 March 2020 (FY18/19 net liabilities of £12.4m), with the increase largely due to the net gain on disposal of the Catering business.
Number of shares in issue : 1,171,010,576
Market cap : £353,645,194
Net asset value (total assets - total liabilities) : £80,500,000
Net asset value per share : £0.0687
Market cap = 4.39 x NAV
https://www.investegate.co.uk/mitie-group-plc--mto-/rns/strategic-update-and-full-year-results-for-fy-20/202006250701370517R/p
The price paid for Interserve arm is way too high, working to very tight margins.
2reincarnated, what makes you think this has further to drop? What are you basing your predictions on?
just a matter of time.
Hi Enfin what would happen to the shares if there was a buy out ? Would holders of the shares instantly lose their shares?
At these levels an MBO has to be a distinct possibility. Philip Bentley has the profile and background to make this attractive to a Private Equity partner.
Ah brill, very useful thank you. Yes, same hope here of course.
See link from competitions authority, hoping for a substantial rise before deadline decision https://www.gov.uk/cma-cases/mitie-interserve-merger-inquiry
Hi Folks - does anyone know when we might expect more news on the Interserve deal please?
Why do you predict a 25% Decline from these levels?? The shares are already selling on a p.e. Of about 2. New areas of growth in Deep Cleaning, Thermal Imaging etc are providing high margin potential. Am intrigued by your prediction!
But the markets assume the worst first and if things are going ok or well, we will see a SP recovery. In the meantime, I can see these lower than 25p first.
The Chairman and four other Directors bought shares last week. This augers well for the Half Year results due November 19th. Indications point to progress in the main business sectors. Would confidently expect a return to the post rights-issue price of 43p
The shares can technically fall to any level?