Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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But absolutely nothing to suggest that the offer they rejected “under valued the business”. Hope they take questions on this decision at the AGM as the share price is a country mile off that figure.
'modest' dividend incoming... better than no dividend!
I was at last years AGM and they seemed a smug lot. Given the recent bid which could have been over £8 per share they have a lot of questions to answer. Today’s update says it is unlikely we will reach that type of valuation anytime soon if ever. My view is they protected their jobs and salaries at the expense of their shareholders. They didn’t even put the bid to us. Shameful
Agree. Holder for over 20 years and think I will attend the next AGM and ask the Board to provide some evidence that any of their actions since the Carlyle bid (£20 plus in todays terms) was rejected have been in the best interests of shareholders. The share price and dividend policy suggest the market thinks not.
Profit warning sneaked into last sentence in trading update. This mob should have accepted the takeover offer last year.
The latest half year report announces a return to dividend payments next year. This should widen the appeal of this stock to more investors and funds and consequently be positive for the long-term share price..
Agree. Wonder if they bothered to compare the two. Acting in the best interests of shareholders, I think not.
unbelieveable. they rejected discussions on takeover and then post ****e results , contrast between what they said about prospects just a couple of weeks ago and today could not be more stark. sack the ceo.
Can see absolutely nothing in either the numbers or commentary to back the judgement of the Board to turn down the recent bid.
Finally got a reply which said 'read the rns of 26 October'. Fantastic. I am going to suggest the IR dept is recycled.
No reply yet to my email!!!
Give it another couple of days and I will write to ceo.
Does anyone know why the sp has bounced today?
Hi, no reply as yet, typical.
Superdad, have you had a reply? So far no response to my email.
I have sent this;
Hi, As a long term shareholder I should like to know why the company has not engaged with the bidder, please explain.I am of the view that engagement could have resulted in an offer that was insufficient but how would shareholders or indeed the BOD ever know. Unless I get a satisfactory answer I shall be voting against re-election of all current directors at the next opportunity, as they are supposed to be working in my interests and not their own.
BOD should resign . Outrageous behaviour - they could have engaged and then said we do not recommend.
RWI
I have sent an email to the company voicing my displeasure. At £8.10 they didn’t allow due diligence and further discussions, absolute dereliction of duty in my view
9/11,that has an ominous ring to it.
So was £8.10 and interesting reply from the company further engagement was possible subject to price expect share price to trade higher from here results 9/11
If I were a major shareholder here I would ring the ceo and tell him to engage meaningfully with Macquarie and let me know what the offer subsequently is. If he did not comply with that I would requisition an EGM for his removal because frankly I think the failure to engage is a sign he is interested only in saving his job!
It looks like we had an even higher offer but board still rejected probably over £8 suppose we will find out soon and maybe Another will pop up.Good luck to those that sold out
Bit like deja vu from Carlyle bid in 2010. Share price fall shows exactly what the market thinks about the Board’s ability to deliver value over and above the Macquarie bid which seems to be off the table. Good luck with the AGM, if you are lucky enough to get to ask a question the answer will be waffle about what they plan to do. History suggests it will be a long time before £7 is seen again unless another bid emerges.
So 5pm today is the deadline for an offer to be made or they walk away. SP saying nothing doing which is a disappointment and I will be attending the next AGM to find out how they are getting the SP above £7.75 in the short term. Personally I do not believe the board have the interests of shareholders foremost in their thinking