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Trying to clarify something, is it the case that you will be allocated your quota of RI shares according to how many shares you held at close of play on 24th June. And is the record date 9th July on the RNS the date you have to take up your entitlement by.
fundamentalanalysis
I guess you got your answer today lol
Mitie has overpaid for companies before.
Where Mitie keeps most work in house, Interserve subs most of it out. This is going to take a lot of streamlining!
Really not sure if this is a good thing.
Up until 14th July it's bound to be volatile. It's a 3x gearing play on the shares ex-rights. In other words, a 30% move in the share price now only represents 10% (actually closer to 9%) move ex-rights.
Any idea why the market doesn’t seem as keen as yesterday?
Another good day keep moving up !
What will the new Company rebranded name be !?
How the hell is the shareprice standing currently @ 97p that beats my logic.
Meant to say 358m SHARES.
According to the company, only £80m of the £190m rights issue goes towards buying Interserve, although they're paying £120m plus 358m for the company.
"The remaining net proceeds of approximately £110 million will support Mitie's liquidity for the medium term"
MaverickD - Mmmmm......market clearly disagrees with you. Clearly room to strip out a huge amount of duplicated infrastructure costs between the two businesses and drive up bottom line and market value
The rights issue to buy Interserve is ridiculous - 1.4b revenue for a poultry £38m profit. Not worth it at all. Expect the SP to tank
https://news.sky.com/story/outsourcers-mitie-and-interserve-in-advanced-merger-talks-12014204
Rights issue
Based on the guidance in the Nov. Interim report • EBIT1 growth at mid-single digits - will Mitie post a profit breaching the £100m Mark? Was £88m last year.
Tired@confused
That was quite an update !!! I give you AAA :-))
Well I just wished I had a bigger stake in my humble portfolio.
But what today has highlighted is which shares will rebound back stronger when the actual recovery begins in earnest.
https://www.facilitatemagazine.com/news/mitie-starts-cleaning-service-to-banish-covid-19/
See some news on social media around the launch of the Citrix product that offers confidence against covid.
Yes indeed it has and it does make me smile when you look at the top posts and the companies they are talking about many of which are absolute tiddlers that have had their share prices ramped up to levels which cannot possibly be justified from an investment perspective.
I'm not against a some speculative buying and selling but at a time when there are many top quality 'boring' businesses to consider who have suffered share price decimation along with the rest as indiscriminate markets slashed pretty much everything regardless of the potential.
Mitie are a 'boring' one bagger at least; I'll take that in a balanced portfolio anytime. Trouble is, so many are obsessed with buying shares which will deliver massive multiples of the initial investment that they are effectively gambling not investing!
Mitie offer a little of both, the chance of a pretty good capital upside, a dividend record and an established business which will find many synergies in the new Covid 19 world and one which still has an excellent business if a vaccine is discovered.
Whats not to like!
I always remind myself that most of my boring holding I never post on, there's little to say and on these boards you would largely be talking to yourself. This is a chance to talk about a quality, established business where maybe there are a few people listening :-)
AIMHO and DYOR
Sipp-It
You got that right !!!
Should break 80 pence today onward and upwards.
Tired@confused
Thanks
Simon
Thamks
Mitie have had a their fair share of problems in the last year or so but it is probably one of the Businesses that will thrive in the UK as the Country moves out of lockdown.
They have a clear plan and the expertise to help businesses adjust and adapt to the new ways of doing things in the workplace safely. Whether that translates into share price re-rating in the short term is anyone's guess but in the medium term they will prosper and have a clear market and plenty of opportunity to aim at.
Well worth looking at the website to see just how they are preparing.
AIMHO and DYOR
Hi eviking,
I can't imagine Covid-19 would have had too much of an impact on their results for last year but it would be interesting to see how it will impact their future results. They seem to have hinted that a final dividend might be possible, but with shops still closed it will be surprising if they announced one.
Tomorrow should make interesting reading.
ATB