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Thanks for that info it made good reading and only increases my belief in this company. This is one for the future just hope it is not taken over cheaply.
An interesting and upbeat article on the BBC website about Pittards' Ethiopian operations. Very upbeat comments from Reg Hankey, Chief Exec, including an expected increase in the Ethiopian workforce from 1,200 to 5,000 over the next five years. http://www.bbc.co.uk/news/business-24610075
No doubt all will become clear soon. Definitely one to watch and anything less than 4p will look ridiculously cheap in a few months time.
Wish the BOD's would come clean, no info on the takeover offer. Something is going on behind close doors but what?.
yesterdagly not long for xmas I am sure this company will soar in sales
any more news/
http://www.barchart.com/opinions/stocks/PTD.LS 80% short term buy and 100% long term buy.
Friday: Meanwhile, leather supplier Pittards (LON:PTD) jumped 22% as it rejected an offer for the company. It said that the price, while a premium to the current share price, “significantly undervalued the business and its current and future prospects 27.08: We are now looking into carrying out a share consolidation of the c 463million shares in issue in order to make payment of dividends more practically achievable. We intend to complete this before the current year end with a view to paying a dividend within the next twelve months if the recovery continues and in the absence of unforeseen circumstances. Things are looking very good!
Pittards has secured a £5m finance package to fund the expansion of its leather products operations in Yeovil and Walsall. [15-Apr-2013]
Does anyone know by who and if a second offer may be put forward??
Pittards Leather Gloves Presented at Glovers Banquet 19th June 2013 The annual Glovers Banquet for the Worshipful Company of Glovers of London was held at Mansion House on Tuesday 25th September 2012. The banquet is always a significant date in the Glovers' calendar and this event was no exception as special guest and fellow Liveryman Rick Wakeman entertained guests with his infamous musical talents. The Pikeman and Musketeers who are a ceremonial unit of the honourable Artillery Company provided the pageantry at the banquet and the Officers were later presented with gauntlets which were made using Pittards World Class Leather. The Pikemen and Musketeers are one of only six royally warranted bodies in the Uk and are primarily tasked with providing a ceremonial bodyguard for the Lord Mayor of the City of London and escorting him when he is on official business.
Interesting to see if another approach is made with an improved offer.
Pittards Plc Board rejects approach Pittards plc (the Company), the specialist producer of technically advanced leather and luxury leather goods for sale to retailers, manufacturers and distributors, announces that, following discussion with its major shareholders the board has unanimously rejected an unsolicited indicative cash offer to buy the Company on the grounds that the proposed price, while representing a premium to the market price, significantly undervalued the business and its current and future prospects.
trade there..........
Mgmt and major shareholders' confidence in the outlook is good to see
SP up 28% in response to an encouraging set of figures from the interim results. Share consolidation on the books and a possible divi payment, starting to look good.
Shares traded today high turnover for these guys, could there be some good news on its way?
Over 1 million share puchased in the last 7 days with little sales. This seems high for this company as the business turned a corner?
big trade...well biggish....
I expect we will see some weakness in the share price as those who rescued the company in its darkest hour take well deserved profits.
The General Meeting has been convened for 7 December 2012 and the Company has been advised that, if approved by shareholders, court approval to the proposed capital reorganisation should be obtained by no later than 30 January 2013. The Company is also proposing the adoption of new Articles of Association primarily for the purpose of updating the Company's existing Articles of Association in line with the provisions implemented (including those relating to electronic communications between the Company and its Shareholders) by the Companies Act 2006 and an appropriate resolution is also included in the Notice convening the General Meeting. The Board considers the proposed reorganisation of share capital and adoption of the New Articles to be in the best interests of the Company and its Shareholders.
Capital Reorganisation Pittards, the specialist producer of technically advanced leather and luxury leather goods for sale to retailers, manufacturers and distributors, announces a proposed reorganisation of share capital designed to eliminate the accumulated deficit of reserves on the retained earnings account on the Company's balance sheet. This is being proposed in order to facilitate the payment of dividends which under company law can only be made from distributable reserves. The Company has convened a General Meeting for the purpose of approving the proposed capital reduction which will be effected by applying amounts standing to the credit of the Company's share premium account and capital redemption reserve in order to eliminate the accumulated trading losses. If approved by shareholders, the reduction in share capital will require to be confirmed by the courts. It is emphasised that no dividend or other distribution is currently being declared or recommended. This will be a matter for the directors to consider in due course in the light of the Company's trading and taking into account its working capital and capital expenditure requirements.
Largest shareholder reduces his holdings below 21%. that answers by previous posting.
Explaining the selling of two large chunks of shares totalling 180M, who's dumping and why? This is the second large amount of shares sold in the past few weeks, what up I ask.