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Recommended cash offer.
http://www.lse.co.uk/share-regulatory-news.asp?shareprice=TAX&ArticleCode=tbqj9y69&ArticleHeadline=Recommended_cash_acquisition_of_Tax_Systems_plc
Just when TAX looks a promising bet for the future they sell it off before it gets really going, I'd hang on to it for now and see how it perfoms before they sell it on, the sweeping changes don't even come into effect yet, MTD starts April 2019 with VAT reporting
That finalises the promise to Ide. The focus is now back on Tax, with I suggest Mxc Capital's expectation/hope that Bowmark/Newco will notify a firm intention to make an offer at the possible offer price of 110p, by Thursday end. Tax buyers have positioned themselves, in the belief that there will be a sale at that price.
Mxc appear to be trying to push this along. Their irrevocable undertaking/firm intention date being considerably earlier than the firm intention date required by the code.
Mxc is doing in this case what it professes to do. Buying, and selling at a profit. The sale will bring cash for future prospects and current promises. There is a way to go yet, but Newco has been formed to shepherd the process. The firm intention last date and the AGM coincide, with consolidation effective the following day, 15th. Feb.
IMHO an excellent job has been done by securing this offer. It must have been a joint effort on the part of MXCP and Tax Systems. What next? The market almost ignored it as far MXCP sp is concerned and hopefully the management should realise how sceptically the performance of the company is being looked at by the market.
Inept management all round, its going to take some fixing this
On 11 July 18 I posted a message on this board suggesting that consolidation may be one of the measures which should be considered. I now doubt whether this will work. For a long time the company has played hide and seek game with its investors. Under whose watch IDE and AD4 disaster happened? Anyone made accountable? We keep on hearing about possible pie on sky stories, or shall I say gossips, but no real news on real tangible progress seems to emerge. I will emphasise again. Declaring half year and yearly results should be made within 2 months of the period end. Why could not be there be a pre-close announcement where progress of the unquoted investments disclosed? Mr Smith should communicate with his investors in a more friendly way.
Understandable, and not entirely unforeseen. 'The Directors consider that it is in the best interests of the Company as a public quoted company to have a more manageable number of issued ordinary shares and to have a higher share price' The decision was taken by those who have most to gain or lose.
Thanks for that,seems like they're building up to something,the dust needs to settle here then i feel,and watch with interest,IDE needs watching as well for news they've put a lot of strength in there and not just for nothing.
They'll have 66m shares on return which will interest insti's which in turn will bring up interest in IDE.
1 for 50 yvonne.
For every 1m shares, you will get 20'000 new shares.
At current price that would give us a 65p share price.
Whats the share price expected to be after consolidation?
Can someone please workout the consolidation i'm on a train and internet is not good i'm struggling to read the rns.
I was interested to see to see what effect the 7am loan note RNS might have on today's trading for the two companies involved. But investors are unpersuaded - those aware and who might have an interest have neither bought in, added or sold, as far as I can currently see. They stick. I have no idea how the Ide saga will turn out, and no opinion save to say that MXCP will have plans consistent with their in depth knowledge of Ide affairs. I had hoped they would by now have informed us of progress with the vaunted buy and build partnership with major partners Liberty Global, but that is not the case, and I continue to hold in anticipation.
To all fellow shareholders. This has ben a long and bumpy ride. Let's to forward to great things in 2019
Holdings RNS. Oak Trust increased.
Mxcp website.
From Castleton website Nigel WRAY had 416490917 shares on 22nd. November. He has therefore added 20935908 shares - so there are others who took shares up, and the seller is so far unidentified ( Cannacord?) Clearance of a persistent current seller will allow the price to move up unhindered in due course.
Today may have shifted a sizeable chunk of Cannacord shares. Perhaps the transactions will be claimed by RNS. Whatever we may be told, it is good news for shareholders.
And another. 48m/£628k.
30m/£390k just gone through.
Stating the obvious there is interest in the potential here, but a seller has held things back. Possibly Cannacord. In my opinion this could quickly start to turn if Zeus could find an institutional buyer to take on their shares. As it is, and in the absence of positive news and now below the 'tip' price, the lower ask may assist a little.
Should I thank the new CEO first for declaring results a week early compared to last year! The Chairman’s report could have included post-mortem reports on the spectacular collapse of the share prices of two quoted investments(IDE and AD4). Makes you wonder about the real performance of the unquoted investments. Let’s hope that past is past with some recovery in share price comes in about 6 months time.
IDE & AD4 are like two anchors holding back the ship, I was always dubious regards Dobbie, a rotten apple is always a rotten apple and no one appears to have been running AD4 !
Hopefully a lines been drawn now and a much better set of results to come in the future
Basically a regurgitation of what is known. I do not see that as negative. It is where it is, ( and by inference at the bottom with remedial work ongoing in some quarters ) seeking to capture the value of MxcUK, looking to further partnerships, and confirmation of others thoughts that the GIF are in Mxc JV. Simon Thomson is not too far out in his summary, and though I expected some mention of progress on the Liberty Global project, that is still to come. We shall have to see what management can pull off.