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Looks like the market thinks an offer is coming....
Maybe we will get an offer.
BPEA have until 19th May to make an offer or walk away, and after today’s price rise I’m feeling a little more confident we’ll get one, but who knows with these markets.
Is something going on?
Share price strongly blue in a sea of red today.
Price isn't reflecting any great confidence that the takeover will run. However, the price is still low at these levels and attractive if pty interested was serious about it so I am holding in the circumstances
Solid.
Now it starts to become become clear how this has been shorted to where we are. Expecting a good rise as the g*ts have to buy back. I'm not helping them.
I wonder what sort of level BPEA will pitch their offer at - iF indeed they DO make an offer at? I bought earlier this year at 460 ish. Given the steep decline in sp since December, I can't see many buyers at above 500p being pleased with an opportunistic low ball bid.
Looks like an offer possible. Hopefully it will be a decent offer else shareholders won't accept.
I'm in. RWS is still a quality company and a 'cluster buy' from a bunch of directors is good enough a reason for me.
FWIW, I did not buy yesterday, or today and doubt if I will buy tomorrow either. I am simply trying now to understand why the market cap is what it is now, how the prospects have changed so much and whether to dispose of my holding and put the proceeds to use elsewhere.
In isolation the marldown has been pronounced, but in the overall scheme of things no biggie
I also followed the directors and added yesterday on the dip.
IMO they are a cash machine, with little debt, that will do well in an environment with higher interest rates and inflation. Needs the world to settle down though after 2 years of turmoil.
Was made aware of this due to the Vox Markets video that aired this week, in discussion with Odyssean Capital. It looks undervalued right now. Would love to hear from people currently invested how they see this as a 2-3 year hold?
Interestingly the CFO purchased some. He commented on the purchase yesterday saying that although he is leaving he believes the prospect for the business are good.
The impact from the situation in Ukraine will be about 1% of revenue(7M?), I think they said unified patents changes was about an 8M EBIT hit.
The main other thing is the short term increased capex next year, 50M over normal run rate.
With the next couple of years looking flat for profit I don't see the share price flying but as a good solid profitable business it should recover somewhat.
Those picking them up at the lows yesterday did well. I think I will keep what I have but I will wait a year before adding.
That is second and third in one RNS.....
...and a second director bought 10,000 shares - SP recovering from this morning's drop.
They are holding a Capital Markets Day at 14.00- you need to register for it though.
Another £473K buy just gone through...
Yes, and a director buy this morning. Also expect a few more director buys at this price.
can anyone say if there is an investors call today
Clearly someone feels it's been oversold.
Took a small position at 345, unfortunately missed the bottom of the dip
23-Mar-22 09:23:32 350.00 202,105 Buy* 348.80 350.20 707.37k
I had assumed that the unitary patent changes had been priced in (it has been an overhanging issue for years) and that Ukraine/Russia was likewise also priced in.
What caught me (and I guess others from the 30% fall) has been the forecast of no PBT growth for a couple of years at a time when it was expected that this would be growing with the projected cost savings following the acquisition of SDL.
Still, as you say 50% down from the acquisition does seem excessive. I will see what they say later today and then decide whether to average down or sell.
Halving the share price since the SDL merger seems a bit brutal IMO.
Well it is a lot cheaper now....
No profit growth for a couple of years has understandably not gone down well.
I was expecting them to be increasing profit not increase spending a year on from incorporating SDL .