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There is a RNS showing that Kabouter have now sold out. On the 1st March they held 12.19% of the shares (+/- 97.5m) which was then priced at about 26p. This number of shares have not gone through the market so they must have been sold to another institution. It will be interesting to see who is the next major shareholder.
Was looking at the chart yesterday and this is looking good for that breakout having broken out of the downward trend channel and spent some time going sideways, consolidating.
The previous high of 37.7p is the critical point to break, but if it does RWI should be seeing 52p.
whys that then?
35p looking increasingly likely
35p by midweek looking possible
Predictions for this next week? Worth getting on board?
OMG. I just said yesterday if this was going to bounce. Gutted beyond belief
Yes - my post earlier about Kabouter. They are/were a big seller with around 30 million shares remaining. Look at the trades today and there's a big 32,455,178 sell which would appear to be them exiting. Massive relief rally going on.
Any reason for the 10%+ rise today?
I think Kabouter may be out...
It was around 2010, they initially bid 130p but reduced to 120p after due diligence. Board rejected the bid and it has never seen those figures since.
120p?! When was that?!
I have been a long term holder in this. I believe it is a decent business that has been badly run for about 8 years. It has massively under-performed sector competitors in both quoted and privately owned businesses. I remain in hope that an activist investor may force a major management shake-up rather than tolerating continued value destruction going back to when the Board rejected a bid from Carlyle Group at 120p a share because it failed to reflect the value of the business.
Not sure..my average is out of sight now and I don't see why I should throw more money at it. I think there will be a bounce once Kabouter are out but that's about 30 million shares away!
Tough gig. Luckily I got out of this with a small profit when the share price was at 35p, think i bought in the low 30s. Just thought Id see where it is now. Whats the consensus thought process? Possible bounce back?
This is looking quite attractive, although very unloved. I guess in a 'risk on' environment a defensive stock like this just isn't interesting to people. This from Edison today:
Valuation: Compressed rating, attractive yield In the seven weeks since the FY19 results announcement (on 23 May), Renewi’s share price has slipped back by c 26%. We consider this to be at odds with the unchanged estimates messaging at that time (and retained now) and the positive steps being taken since. On our expected and unchanged trough earnings in the current year, the company is trading on a 6.4x P/E and a 4.5x EV/EBITDA (adjusted for pension cash). These metrics compress further to 4.1x and 3.7x by FY22 on our estimates). Moreover, the prospective FY20 dividend yield – based on an unchanged payout expectation – is now 5.6%.
https://www.edisongroup.com/publication/exit-from-canada-announced/24422
I think you may have bought back in at just the right time.
** Co said it would sell its Canadian operations to Amsterdam-based Dutch investment firm Convent Capital for an enterprise value of up to C$107.5 mln ($80.19 mln) as it looks to simplify its business
** Co says deal is subject to change of control approvals from relevant municipalities in Canada and is expected to take place before the end of September 2019
something made me buy back in here this morning, glad I did, but should have made it a bigger stake
news coming??
From the 3rd
https://www.edisongroup.com/publication/commercial-progress-offsets-other-areas-in-fy19/24297/
Broken out of the downward trend and retraced today back to a support line. If the support can hold, it looks like it could take the next step up to next resistance at approx. 48p, which is the approx NAV.
Nice rise today upon the steady rise we have seen here.
Broken above resistance level and now broken out of the downward trend channel.
Looking at 65p and 75p as the next proper resistance levels.
Joe, I don't think so . He just posts occasionally across the various BB's and through email I have got to know him . It was my idea of a joke , which I thought he might respond to. As it happens I think this share will be around 50p.