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Excellent post Barney.
It would make sense for Lithia to acquire Pinewood, if they did acquire (big if admittedly) then logically they would do it before the rollout in the US. Essentially Pinewoods forward value is heavily dependent on Lithia's large network in the US adopting the Pinewood DMS. Lithia control when that happens, so why not acquire Pinewood first then add all the value to their own company.
On a different note, most of Lithia's dealer network in the US currently use CDK as their DMS solution (Pinewoods main competitor in the UK & EU). Bloomberg reported yesterday that they had a major outage due to a cyber attack and had to close down their systems, it reports "thousands of car dealers were ground to a halt", link below (although behind a pay wall). This should focus the minds of the Lithia/Pinewood board to get their own US product up and running ASAP.
https://www.bloomberg.com/news/articles/2024-06-19/cyberattack-hits-software-provider-for-car-dealers-across-the-us
I think Lithia will want to acquire Pinewood. This would be best undertaken sooner rather than later and Lithia has an aggressive approach. Once the Pendragon dealerships are fully digested and the initial US roll out of Pinewood is assessed, I think they will want to mop up outstanding stock.
Whilst only a hunch, if this is the case, for me anyway, a very positive end to a near 20 year relationship with "Pendragon", most of which were despair.
Interesting that Lithia have increased their stake just prior to the AGM on 26th June....
SP pushing on nicely now. Gone hopefully are the bad old days with Pendragon and negative volatility.
HL are open Saturday mornings by the way
I think if you phone HL they will move it over for you straight away.
Best of luck
Finally, the dividend has moved from my balance to the available cash! Got so impatient earlier this afternoon that I sold the bulk of my holding. I was waiting for the dividend to buy into other companies. Hadn’t yet had replies to my emails but will let both parties know that I now have the dividend available. Netaffect and brigg, hope that you have the cash available now as well. GLA.
My H/L account shows the amount in the balance but doesn't show in cash to invest
PS, thank you Niklol.
No reply yet from Ollie at Pinewood. I have sent an email to linkgroup this morning. I had an automated response to say they will reply within five working days.
Mine went directly into my cash balance section on HL just like any other
divi
Hope you get payment very shortly
Mine went directly into my cash balance section on HL just like any other
divi
Hope you get payment very shortly
I have sent an email to Pinewood now. Will let you know of any reply.
I just phoned my broker. They checked and said that they had not received the funds from the company yet. I guess the next thing is to phone Pinewood. Not sure if I’ll do that today . if anyone else is waiting maybe they’d like to have a go at contacting Pinewood. My broker is IBKR based in Ireland as I am Europe based.
Apologies. When I came back in, it looked like my last message hadn’t been posted.
My share dividends normally just show up us a credit in my broker cash account. If it doesn’t show up by tomorrow, I will probably give them a ring to find out why.
My share dividends normally just show up us a credit in my broker cash account. If it doesn’t show up by tomorrow, I will probably give them a ring to find out why.
Is it really a cheque in the post? RMS
Yes, but mine hasn’t arrived yet. Anyone received theirs? I know my dividends sometimes take a day to appear but I thought it would have arrived by now.
Was the payment date yesterday?
Glad it recovered
Been some more biggish sells (£154k for example) gone through a short time ago, so that doesn't help! I think long term prospects are still very positive so I will sit tight
It's very odd IMO.