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Started: BarneyDeal, 17 Jun 2024 10:06
Last post: BarneyDeal, Today 09:25
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....
Started: pageyboy55, 3 Jun 2024 16:44
Last post: pageyboy55, 3 Jun 2024 16:44
SP pushing on nicely now. Gone hopefully are the bad old days with Pendragon and negative volatility.
Started: Netaffect, 8 May 2024 12:48
Last post: niklol, 10 May 2024 20:25
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.
HL paid mine yesterday
Started: niklol, 2 May 2024 09:40
Last post: niklol, 7 May 2024 20:07
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.
Shouldn't make a difference, usually the price drops on ex dividend date not when the divi is paid, but it could be that private investors were waiting for payment before selling (not sure why they would though)
Strange
Could it be anything to do with today being the dividend day?
Started: Walkley, 25 Apr 2024 08:55
Last post: niklol, 25 Apr 2024 13:38
Have also stayed and very happy with today's RNS
Time will tell
Best of luck
I stuck with it, money to come form sale in May remaining part of shares down 15% but a up beat Rns this morning as they say watch this space
Sold holding in Pendragon when the sale to Lithia was confirmed as uncertain of the value of the Pinewood remnant. The figures produced show a company with on-going earnings per share of 11.9p/share and no indication (I may have missed it )of likely future dividends. Whilst perhaps there is the prospect of significant growth now that Pinewood is no longer part of Pendragon a P/E of 26 does seem a bit high. Or am I missing something?
Started: niklol, 24 Apr 2024 14:55
Last post: niklol, 24 Apr 2024 14:55
Thanks for responses and let's hope results will be good tomorrow
Agreed when divi is paid the total will be worth the same but the portfolio will always show a loss as divi will go into income like any normal divi - presumably?
Last post: AngelsOneFive, 23 Apr 2024 14:05
PINE still sits atop the LSE daily risers leaderboard today.
Showing as over 700% up.
It won’t do their visibility any harm at all, despite it really only being a technical rise.
atb
The consolidation makes no difference to the value of the company, however you will experience a loss in relation to the dividend and its yield. Current share price is equal to 15.6p pre consolidation, which is roughly 61% of yesterdays closing price i.e. the price is reduced to accommodate the yield payout.
Sorry should read loss not list
Yes same here showing a list, however dividend to be paid in May for sale of car business so should be about the same in total
Well, the Apple shares app is showing a 688% rise today. The standard systems can’t cope with the consolidation effect.
If it doesn’t correct itself, you might need to go into your HL settings and adjust the cost price (having done the maths yourself) so that the HL computer is just showing the comparison with that.
atb
Started: AngelsOneFive, 4 Apr 2024 12:37
Last post: AngelsOneFive, 19 Apr 2024 16:35
Here is a link to the 30th December Oak Bloke post on Substack which gave a very good overview of the situation at that time.
It’s worth reading.
https://theoakbloke.substack.com/p/introducing-pinewood-technologies?utm_source=profile&utm_medium=reader2
atb
I for one will be pleased to get the divi (of the car dealership sale proceeds) out of the way, so that PINE can be viewed simply as a SAAS business providing software services to auto dealers. Anyone buying in from Tuesday onwards won’t have to contend with money tied up in cash about to be returned.
We will get the audited accounts covering 13 months to Jan 31st 2024 sometime before the end of May.
atb
So going forward is their a master plan for this action?
I will assume you own some shares. Closing price today is about 39p. Let’s assume no change by end Monday. On Tuesday morning the value of each share would be expected to reduce by the dividend amount of 24.5p. So each share would be 14.5p BUT because of the 20:1 consolidation each share will now probably be worth 290p ( and you’ll have 20 times fewer shares). You will also receive the divi based on your original number of shares.
So no £££ created or destroyed.
atb
So all this goes through on Tuesday. Does this mean the overall value of your holding setting aside market ups and downs will be reduced. And if reduced does that mean the hefty dividend is just to balance that reduction in value
Started: Monet123, 17 Apr 2024 22:15
Last post: Monet123, 17 Apr 2024 22:15
Price being held back….
Started: wastedmoney, 8 Apr 2024 12:37
Last post: scibmark76, 16 Apr 2024 19:59
Thanks for the info.
Hi,
Your £4000 investment is reduced by the £2450 dividend payout and so it has now cost you £1500 to buy 500 shares... ie £3 per share
Hello
I am quite new to this consolidation stuff. So if I am getting this right if one has 10,000 shares, the current holding value would be around £4k. The dividend payment will be £2450, so far so good. However, based on this consolidation process the new shares will amount to 500 (10000/20). What would be the value of the new share after consolidation? In this scenario it must be at least around £8 per share or am I missing something her? Would appreciate some advice on this. Thanks.
Sorry, I understand.. net.. ie 24.5p (490p in consolidation)per dividend probable reduction in SP. Apologies
How is tye 305 mentioned calculated please... I am really confused..
If share price is say 39p and consolidation 1 for 20, why would not 1 share be worth 780p? Ie 20 X 39p
Started: longshoot, 8 Apr 2024 08:43
Last post: longshoot, 8 Apr 2024 08:43
Lithia's revised proposal provides shareholders with a total value per ordinary share comprising: (i) expected 24.5 pence in cash, to be received by way of a dividend; (ii) a retained c.83.3 per cent. ownership in the continuing Pendragon business (including Pinewood) valued initially at c.10.3 pence per share; and (iii) an indirect interest in the North American joint venture valued initially at c.0.6 pence per ordinary share.
In aggregate, it's the equivalent of a 35.4p per share offer, and thereby outbidding the Penske/Hedin 32p per share bid.
Pleased that 24.5p divided is likely to be paid on 7th May following AGM. Aim is also to consolidaste one new share for every 20 shares.
Deal agreed, stated equivalent to 35.4p. Any news/ideas when points (ii) and (iii) as above will be actioned to make up remaining 10.9p per share??
Started: BarneyDeal, 29 Feb 2024 15:59
Last post: brigg, 18 Mar 2024 22:31
Trades after time are they buys or sells any one know what's going on
Massive trading after hours anyone know whats driving this
Lots of big value trades today think more sells than buys is something happening in the background must be news coming soon
Definitely not putting the buyers off, lot more buying than selling, haven't heard any news 1 buy 50k so someone confident
Anyone buying now is basically having to stump up the equivalent of 24p per share to cover the future payout from the car dealership sale (of 24p). That’s a bit of a pain. When the payout is announced and then goes XD I wouldn’t be at all surprised if the SP falls by less than the 24p as an investment in PINE will be a much cleaner option. atb
Enjoying the rise in SP last few days any one know what's driving this when do we get paid from pdg sale
Started: Walkley, 19 Feb 2024 09:34
Last post: AngelsOneFive, 19 Feb 2024 10:46
The PDG car business sale already completed and I’m assuming PINE (formerly PDG) is currently sitting on the cash awaiting distribution. You will notice a big fall in the share price at ex-dividend date whenever that happens. We will get an advance RNS from PINE with the date. PINE is essentially already trading as a software only business, because the car business is already sold. Hopefully was sold along with any possible liability to mis-sold car loans, should that turn out to be a developing problem.
atb
Maybe the cash was from divis elsewhere??
I thought we had been paid - some cash turned up in my isa - although I did'nt double check the source!
Hi, Pendragon essentially sold itself to Lithia for £367M but leaving Pinewood behind. The PDG listing became PINE with Lithia taking a stake too and the £367M will be distributed from PINE as a 24.5p special divi at a future date TBD.
So it should all be tidied up soon, but you’re basically buying PINE at about 10p per share when the divi is taken into account.
I recommend the Oak Bloke article in the previous post which gives a much better explanation than I ever could.
atb
When will the Pendragon payment be made so that this becomes a software only business?
Started: AngelsOneFive, 15 Feb 2024 07:55
Last post: AngelsOneFive, 15 Feb 2024 07:55
Some background info from the Oak Bloke Substack a few weeks ago. Link below.
This is not advice.
https://theoakbloke.substack.com/p/introducing-pinewood-technologies?utm_source=profile&utm_medium=reader2