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Started: Hullaballoola, 26 Feb 2020 07:58
Last post: whitelye, 26 Feb 2020 16:14
Hooray !
Shows he has confidence in it even if the market thinks otherwise
Something positive at last c. £200k
Started: whitelye, 24 Feb 2020 09:37
Last post: cxs1, 25 Feb 2020 22:55
250's as predicted 23rd Jan, still likely getting crushed again tomorrow if the wide sell off continues. Shorts loving this macro.
I see no sign of the combined entity trading so far. Market cap remains the same for Northgate, name remains the same. Has it been delayed for some reason or does it kick of later? Dreadful day on the markets withstanding, shame to see NTG down into the 260's at one stage.
Last post: arsenal58, 22 Feb 2020 16:28
Bought 1.6 million @an average of 2.86
This must be a strong buy in the 2.80s
Fill your boots people
Last post: arsenal58, 17 Feb 2020 12:34
Yes noted about the divi
Not very nice of them
Took my profit and sold my REDD Stock Friday might buy a stake in NTG oversold ???
Arsenal58, as Specialonek stated the Redde shares will no longer trade as per the RNS "Suspension of trading, and dealings, in Redde Shares 7:30 am on 21 February 2020" - therefore there will be no divvy!
Arsenal58 the merger will have been completed before then so there won't be a dividend payment. Check out the RNS.
I am buying Redde for the divi
I am in at 101 and 102 for 10000 but if the big boys keep buying I will be happy enough to sell at 110 lol
Started: jollyspeculator, 14 Feb 2020 14:04
Last post: jollyspeculator, 14 Feb 2020 14:04
pretty asymmetric here imv
with decent tnw support, synergy gains to come and modest earning ratios
DYOR, all
Last post: arsenal58, 12 Feb 2020 18:13
Only Millenium rasing there short today
Started: jollyspeculator, 4 Feb 2020 14:35
Last post: jollyspeculator, 12 Feb 2020 14:56
fortune favours
..
Started: Hullaballoola, 3 Feb 2020 16:03
Last post: Bearraider, 3 Feb 2020 18:54
That's the problem when a share declares it may be subject to a takeover/merger then everyone who owns over 1% has to declare whatever they buy or sell hence the storm of rnsssss
Drowning in RNS' but no news. Perhaps an update would help.
Started: jollyspeculator, 23 Jan 2020 13:36
Last post: Bearraider, 23 Jan 2020 15:40
hi Jolly
hard to call this one.
Negatives, share being shorted, could be some nasties in the figures of either NTG or Redde we don't know about? Market doesn't like the merger? After merger NAV will be lower than Share price. Currently NTG NAV is well above SP around 480p I think whereas NAV for Redde shares is 20p ar SP of £1. NAV always gives a gave a good floor under the shares if it is in readily saleable assets and trading goes belly up.
Positives. hopefully the combined market value will at some point be high enough to get into the Ftse 250 where trackers have to own shares (when DIGS went into the 250 the SP moved up nicely).
Synergy should reduce costs and increase profits, maybe some scope for cross selling whilst also diversifying business.
surely?
on combined TNW & adj EBIT (esp with synergies)
Started: Bearraider, 23 Jan 2020 13:42
Last post: Bearraider, 23 Jan 2020 14:39
News would be good to make a rational decision but the most recent update didn't show any red flags. Unless the market really think this merger is a very bad idea there seems no reason for the sell off.
it sure is a trading gamble (although buying volatility isn't such a mad plan)
I had LT value in mind
Many of these copious RNS filings detail insti held shorts under .5pc notifiable, some hedges for longs, some outright short. It's a gamble here without news, surely.
Samson rock increased its short position from .5% to 1.1% on the 20th. When shorters start messing about with a company like Northgate that seems well run and profitable it may present a good opportunity to buy the shares for the recovery. The great difficulty is timing you don't want to catch a falling knife but often when they bounce they move up quickly
Started: Monkshood, 15 Jan 2020 16:00
Last post: cxs1, 23 Jan 2020 09:33
Redde getting hammered too.
What are Crystal Amber up to here, these days?
Another convincing drop today, down to new lows. 250p next without news?
Hullabaloo. Combined value after merger of present Mcap values £380m Northgate plus £324m Redde. Total £704m.
Monkie, where do you get the 700m MCap figure from? Not challenging you but interested. Hard to source decent info on this merger. There doesn't seem to be much interest in this merger. But do put me right.
Back into the 280s again today, this is heading to re-test the low.
Started: Hullaballoola, 3 Dec 2019 22:38
Last post: cxs1, 6 Dec 2019 14:35
New senior mngt, new corporate structures, new(ish) business model after a two year integration programme, current uk political & economic backdrop.. Going out on a limb here investing here currently, bounce aside.
Being traded on a dead cat? Or some buying in for 6p divi? Unfortunately the longterm trend here is poor, and this dropped quickly a down to a new low, so I suspect that will get tested again in due course.
What the hell is happening hear?
Our new chair lady is seriously devaluing our investment - whose given her these instructions
Something seems significant about 300p level currently though while the moves go through, it had a dabble below yesterday and opening auction today was 290p, but straight back to 300? Maybe brokers got no idea whats going here either.
Does the combined entity jump into ftse 350 / 250?
Rns do nicely expose the shorts here, which ordinarily fca don't publish. Often short and long at same holder, lesson for me!
HL are flagging this as a bid situation. How can the SP be dropping?...
Fresh low at 298p intraday, iis selling it down to make this cheaper for a reason?
thanks, think I'm just going to wait and see what happens but agree the market doesn't seem overly impressed.
At least the NTG shareholders got an RNS from the company, but I have not seen an RNS from Redde. The NTG share price on Thursday before the announcement was 350p which meant that the Redde share price offer would have been 128.4p per share, but now NTG has fallen to 300 so Redde holders would get the equivalent of only 110.7p ( 300 x 0.3669 ). The market doesn't like it!
Coffee
Would be tricky working out the share price for the combined company.
The best guide is the combined market cap of both companies is approximately £750 mill.
I've been invested in this kind of all share companies merger before it tends to be unpredictable before,during and after the event.
The pre merger share allocations just reflects the current companies market caps.
I fully understand the current holder's frustrations, waiting and watching not an option for them.
D.
What happens now? I'm a redd shareholder and don't understand why Redd shares went up and Northgates down both by significant amounts. Can anybody advise when the new shares will go live and at what price. Thanks.
Started: Dar-, 13 Aug 2019 10:09
Last post: cxs1, 30 Nov 2019 23:01
Next? Dilution for existing ntg holders (freebies which Redde holders then dump) while she's off chasing supposed synergies in differing businesses based in different parts of the country - RNS was strangely vague on those! Palmer-Baunack was not holding any here I guess so not too fussed, but I'd bet she has a few Redde tucked away direct or via pensions which have done well. Maybe she will divest Spanish ops for a few quid sooner or later.
Well that’s gone well hasn’t it? NOT
Thought she was going to divest he group of the Spanish van rental operation?
Reede - who the hell are they?
So Northgate's van rental CEO get chucked out!? And replaced by an unknown person with no rental experience.
Well the market has shown it feeling with a 10% drop Hell after all these years - do what going to happen nxt?
Or not, Doh!
She's in to divest Spain operation imo, with Crystal backing her via another increase in their holdings.
Interesting appointment - she had a turbulent and interesting time at Stobart - left with a big bundle£££££
We shall see!!!
Not convinced
Started: Inat9.5p, 30 Nov 2019 11:02
Last post: Inat9.5p, 30 Nov 2019 11:02
Oh No. Not Northgate again! Sold out of these about 9 years ago at about £2.80, soon after the 10 for 1 share offer. Spanish market looked far to shaky. Since then, share price has gone nowhere. Redde's doubled in value since their share issue in May 2014, with much more generous dividends. Redde way undervalued, especially after the overreaction to losing 1 (albeit big) contract. No way will I be voting for this merger.
Started: jollyspeculator, 10 May 2019 12:24
Last post: jollyspeculator, 7 Aug 2019 13:36
.
Do not understand what’s going on here? Because this is a strong well established business
No news reference New chairman?
is it a "strong buy" now then?
of nearly 20% (dyor)
& growth returning
& activist shareholder(s)
almost a "strong buy" imv
Started: cxs1, 25 Jul 2019 09:50
Last post: cxs1, 25 Jul 2019 09:50
Only three weeks until 15th Aug Ex Divi date. Hope to see a rise back to the recent highs at least, if sentiment and Boris are obliging in the meantime.
Started: Dar-, 2 Jul 2019 09:56
Last post: Dar-, 2 Jul 2019 15:07
Hi Transan,
I assume you mean Steve Smith is a former chief executive of Northgate (he left in 2010). He worked for the group for two decades and during his time as managing director of vehicle operations and subsequently group chief executive, Northgate expanded from a base of 2,500 vehicles, located mostly in the North East of England, to a fleet of 109,000 vehicles across the UK, Ireland and Spain.
I don't know a great deal about Steve Smith but I do know he has retained his shareholding but has also said that he wants to build his "portfolio" of NED's.
Perhaps NTG need a hands on Chairman, just a thought!!
Completely agree - new chairman Steve Smith please
On the 28th March there was the following RNS "Northgate plc ("Northgate", the "Company" or the "Group"), the leading specialist in light commercial vehicle hire in the UK, Spain and Ireland announces that last night Andrew Page informed the Board that, after over four years with the Company, he will step down from his role as non-executive Chairman and from the Board with immediate effect."
In my opinion the sp of Northgate will remain subdued until a permanent Chairman is appointed. I hold NTG and will continue to do so, the recent accounts accounts infer that NTG is a sound company.
ATB
Last post: BumbleB, 1 Jul 2019 17:53
Anyone have any views on GLG partners shorting the stock and the impact of this?
Seems to be moving back up, after a day or so of delay while the results disseminated. Like to see it clear 350 to confirm the change in trend.
I agree and surprised that whilst the sp rose initially, seems everyone has cashed in and run away?
Last post: TTNY2013, 25 Jun 2019 14:40
Maybe they should think about a share buyback
Which is one of the best ways to directly return value back for shareholders when SP is undervalued.
Looking like a fairly decent set of results, and final divi up to 12.1p. Noted they intend to improve share price too to address under valuation here...
Sorry - that should say Chairman.
Last post: Ricky317, 24 Jun 2019 15:44
Given the continued uncertainty around Brexit and fleets not looking to purchase at present I think there is a good chance this will rise on results tomorrow. Add into the mix the rental market in Spain will be in full swing for holiday makers so the VOH stats should be pretty good, translating into good Q4 revenue/profit.
Fingers crossed - only fly appears to be whether they have sorted the CEO issue ??
a little and about time. See no reason why this share has gone so low and hope the results later this week boost the price make even more.. I need above 370 to break even !
Started: Transan, 15 Mar 2019 13:13
Last post: rugs, 4 Jun 2019 15:29
Don't know what has caused todays decline. Would have thought that transportation would be an area into which others would want buy........This has been a disaster for the past month or so. Anybody any ideas why ? rgds
Looking cheap again here, well relative to the last couple of years anyway. Any specific news or rumours, or simply Brexit / macro concerns pulling this successively lower into the year end?
Steve Smith knows the business inside out - bring him in ASAP
Looking at the board - don’t seem to have the exoerience except maybe one ex Avis
Started: 50glass, 11 Mar 2019 16:48
Last post: 50glass, 11 Mar 2019 16:48
Turning up the heat on the chairman:
"Crystal Amber Fund, the activist investment fund, announces that it has today delivered to the board of Northgate plc a requisition notice requiring the company to convene a General Meeting at which resolutions will be proposed to remove Northgate chairman, Andrew Page, and appoint Steve Smith to the board as a non-executive director."
Started: jollyspeculator, 8 Mar 2019 14:03
Last post: jollyspeculator, 8 Mar 2019 14:03
returning