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https://news.sky.com/story/ad-agency-m-c-saatchi-snubs-murrias-bid-for-board-seat-12003112
Same here, my target is 120p-145p
Bought at 60p - see a nice upside swing from here will look to sell at 85p
Definite tree shake, but not many takers. Full ask now being paid so onward and upwards. I can see 100 p. on some decent news in the not to distant future. Been holding here for quite a while and managed to average down , but still a way to go. Hopefully we end up blue today.
Thanks for that very informative post. As they say on these BB's. I'll fill my boots at 60 p. However I'm not sure we'll see that figure again, fingers crossed.
A very interesting post from elsewhere: OK it is 70p now, but the analysis holds I think? Potentially still serious upside here
"Put liabilities about £25m per the last results. A fair chunk of that has just been settled of course this week (about £4m maybe?)
If you assume full issuance of all these liabilities at 50p - that is £21m / 0.5 = 42m shares.
Total shares in issue goes to c.160m.
Headline PBT is about 25% lower than 2018; so about £24m for 2019. (this is already announced)
Assume that halves in 2020 due to covid - £12m.
Tax at 25% - Post tax profit therefore is £9m.
So 9/160 = 5.6p eps on the enlarged share capital plus Net cash of £9m.
Makes 60p look like about 10*earnings - and this is a pretty severe case, as it assumes a) 50p issuance price on the put options, and b) they all get issued immediately, and c) 50% profit fall from covid in 2020.
If you assume 60p issuance price (the current price), and 25% profit fall in 2020 from Covid then you get the following:
35m shares issued - ISC = 150m shares. Headline PBT in 2020 is £18m; using same tax rate - PAT = £13.5m
EPS in this scenario = 9p - so at current prices the ex cash multiple is c.6*
So - at 60p - the business is valued anything between 6 times and 10 times.
My guess is this is all pretty prudent, so BUY at 60p."
thanks
Thanks sgee. I am indeed a long term and long suffering holder! The update last month could have been a lot worse, and the FCA investigation should conclude in the next couple of months, so from here on in it is all plain sailing!! Good luck!
As you say that is a lot of money to invest, however she is a very rich and astute woman. I think all of the bad news has come out now , the only thing left is the decision of the FCA. The companies reputation has already been tarnished so the only probable downside if it is a negative report would be a fine. I have known the main board directors for a long time and consider them honorable men. If there was any jiggery - pokery going on I'm sure it would have been without their knowledge. The bottom line though , it would seem the market likes the news. Hopefully the only way is up now after a disastrous few months. Good luck if you are holding.
https://www.investegate.co.uk/m-c-saatchi-plc/rns/holding-s--in-company/202005050710419387L/
Accounts for the volume, and the rise. That is a lot of money she has spent. What do you reckon sgee?
Could be Invesco. jumping ship. There should be an imminent TR 1
Volume of more than 24m today, including a sale of more than 12m. Is someone dumping shares? Price closed 10% up though. Anyone have any info? Thanks.
cash-positive, but 9m in cash isn't going to last long. Dividend gone, as expected. Bad news, on bad news. The management's 20% cut is an insult to shareholders.
M&C is trekking towards all time lows. In addition to the financial misreporting & the ongoing FCA investigation we have the hammer blow of coronavirus trading headwinds [more of a full blown gale than a headwind]. So what a time to have your £36m banking facility up for renogiation on 30th Apri. The market smells blood.
Dealing with bureaucrats. These things can take weeks even months. I guess it depends how much work they need to go through. I wouldn't expect to hear anything before April, but that is a complete guess on my part.
Not sure how long the FCA investigation will take but the lack of news is keeping the sp in the doldrums for now. When should we get an update?
Even now, I reckon there's still too much bad news to come. The big question is, why weren't the executive directors watching the figures? It's their jib to ask questions.
.
Market maker seems to be accumulating a lot of shares without moving the SP. much. Possibly to fill a large buy order or perhaps they know some news is imminent and they could make a killing.
No idea why the climb today, I sold out yesterday afternoon at 107p so obviously I wasn't in the loop and probably not the wisest person to answer your question lol
Just wondering if the board is always this quiet - recently invested with some trepidation but glad I made the decision (well, at least today Im happy especially with an earlier top up before the climb !) - any views on why specifically ? Cant locate any news other than rumours hinted at on here of potential bidders versus restructuring?
Lol r u joking. Fca don't even clean their toilets properly
nope ...latest news is .....we under FCA scrutiny ...This is going to drag on for months unless they can give some profit announcement .
This should go crazy up today
Yep ACCENTURE will put offer any day from now... lets see 150-175