Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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https://www.londonstockexchange.com/news-article/NFC/offer-for-m-c-saatchi-plc/15461206
"For each M&C Saatchi Share:
0.1637 of a New Next Fifteen Share and 40 pence in cash
The Acquisition values each M&C Saatchi Share at 247.2 pence (the "Acquisition Price") and the entire issued and to be issued ordinary share capital of M&C Saatchi at approximately £310.1 million on a fully diluted basis (the "Acquisition Value") based on the Closing Price per Next Fifteen Share on the Last Practicable Date of 1,266.0 pence."
"The M&C Saatchi Independent Directors are recommending the terms of the Acquisition and consider it superior to the terms of the ADV Offer which they have unanimously rejected. Accordingly the M&C Saatchi Independent Directors urge M&C Saatchi Shareholders to take no action in respect of the ADV Offer."
https://s26.q4cdn.com/993376269/files/doc_downloads/2022/05/Investor-presentation.pdf
Indeed! Also they are stressing that they will modify the LTIP so that it "prioritises and aligns the leadership with the creation of shareholder value ", a real swipe at SAA management profligacy. But this is a people business, and if you are not nice to staff, they depart.
I have said this before, but it is worth remembering that Murria is NOT a software person, but a wheeler dealer, who made her money buying and selling companies at good prices. That is what she wants to do here.
Interesting to note that Octopus and Paradice have “signalled their intent to accept or procure acceptance of the Offer”.
here's my take on the takeover - because saa is much much larger than adv the offer really amounts to the acquirer saying we can run this much better than current bod have faith in us if you want value creation. The existing bod were never going to say actually we are unable to manage things as well as adv into the future so we recommend we recommend the takeover and lose our jobs. How will this play out? No idea just now.
Doesn't really matter. ADVT now going direct to shareholders:
"Having sought the recommendation of the M&C Saatchi Independent Directors since early January, to date that has not been forthcoming. With today's announcement we are seeking the support of M&C Saatchi Shareholders"
Will the M & C board recommend acceptance?
Offer is actually worth 207.5p!!!!!
ADVT offer made this AM. Equates to about 210p. Weak offer in my opion.
The PUSU deadline has been pushed back, and we have now seen Canaccord dump around 4 million ADVT shares on behalf of a client, and the SAA price drop by c12% since the announcement. Bad omens!
I saw the RNS but just recall it being 210 at the time....might be wrong
Any premium members able to look at trades on 5th Jan
Do we think that statement means 200p all cash ?
Surely as the advt share price moves any shares "traded" don't have a concrete value
“AdvT acquired its shares in M&C Saatchi at 200 pence on 5 January 2022, immediately prior to the commencement of the offer period. Therefore, any firm proposal by AdvT will need to have a minimum offer value of 200 pence per M&C Saatchi ordinary share at the time an announcement is made with respect to a firm intention to make an offer for M&C Saatchi.”
https://investegate.co.uk/m--38-c-saatchi-plc--saa-/rns/further-extension-of--put-up-or-shut-up--deadline/202205100700048599K/
I thought she paid 210 for her shares ??
Employees will be fine, and I am happy as long as a decent deal is struck that preserves my interest here.
Me
Who else is fed up with this situation? The uncertainty must be really worrying for the employees let alone us long suffering investors.
...extended to 1700 on Friday 20 May. Looking for 200p minimum.
Strong results and a decent move up in the share price so far.
Will be interesting to see what Vin Murria does now.
The improved ADVT offer originally equated to above £2, but the decline in the ADVT share price has pushed it into the 190s. Very tangled here now.
I can’t see this buyout going through me
Saa deserves to be in the £2’s easily I think it will be to dear for advt after them results
Eps growth of about 640% ;-)
https://www.londonstockexchange.com/news-article/SAA/issue-of-profit-forecasts/15430857
This is really putting the pressure on ADVT.
...and results are pretty decent, if phrased in a very complimentary way.
Operating profit up 12%.
EPS 10.5p.
Net cash £34m.
ADVT need to do better. Ms Murria may have shot her bolt here.
Looks like two nice rns’s there
Profit forecasts look decent
More than happy with that
Looks like I wasn’t so stupid after all ha
Difficult to know what the outcome will be.
Neither party would have continued with the talks for so long if they didn’t believe there was the potential to strike a deal.