REMINDER: Our user survey closes on Friday, please submit your responses here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Well Dbay are really going for it........continuing to buy every available share now over 23% soon heading towards the max 29.9% holding?????....Backdoor takeover???????
I don’t think Dbay are looking to make another offer as they never seemed serious to start with. They are investors and just see an opportunity to exploit. They know Telit is undervalued at present and is probably going get a bid that they can’t refuse in the near future, I have heard a rumour Sierra W. May be interested. At that point Ublox will be able to come back to the table. This is only going in one direction.
As I said yesterday, looking like at takeover by the back door as they appear to be loading up at higher prices since their failed bid.. I can see this being 300p by year end all being well, this is what I said several weeks and months ago it's going places hence all the interest from predators.....patience should be rewarded IMHO. ADYOR!
Market flat, and Telit making solid ground.
Thinking about it last night.
DBAY now has 21% and if you look at the rest of the Shareholder list, it all adds up to an increasingly tight market.
I bought into this one as a small punt, I had done no research, but saw an opportunity as there was a few bids being offered for the company at a significantly higher sp than what the sp was at the time
Although the offers have been rejected and now I have had a chance to read into this one a bit more
I’m going to hold on for a bit longer.
My thoughts on Dbay continuing to buy ?
The more stock they hold the closer they can get to the BOD, which ultimately give them access to more
(Not sure how to word this) privileged information ? So to speak.
But ultimately they must still see a lot of value here, or why bother going to all the effort
Also I don’t think we have heard the last from unbox either.
My understanding is that now ubox will either have to wait 6 months,or wait for another company to make an offer, or get permission from the bod before they can bid again.
I think there’s still a lot of goings on still behind the scenes
Also on I
D Bay still buying in bulk RND 5.00pm today, now over 21% holding. A takeover by the back door I wonder?
I too cut my position on the news, only to buy them back on calmer reflection at a slightly higher price.
I have since topped up a little more.
Volume has been strong, with some large prints, and the stock continues to rise.
The 5G statement underpins the positive sentiment.
Yes, I would say it is a big deal. I am disappointed that I missed the news on the day.
I had already closed my short but today I bought back in. This is always the danger when trying to trade a share. I was disappointed by the termination of talks with U-Blox and not wowed by the trading update. But, upon reflection, other posters here were right about looking at the long term picture.
Best
Happy
Has to be a huge positive for 5G Data Card sales going forward for the company.
Surely?
There was solid support to the price today around 195 and then some big trades at £2.
We'll have to wait and see on who, and by how much.
I wonder if Dbay are trying to get the full 29.9% to block any future deals?
Big trades after the close.
That's brave...anyone can come along with another offer..
short here too... deal is off
Agreed, the update doesn't set the world on fire. I was hoping for more too.
Yet, the modest dip in the share price and the lack of volume suggests there isn't a dash for the door just yet.
Other items: Koninklijke Philips N.V. ("Philips"), the owner of purportedly standard essential patents covering technology allegedly used by the Group in certain of its products, has issued proceedings in both the US International Trade Commission and Delaware courts. Telit understands that similar proceedings have been issued against several other leading industry participants. Telit is reviewing these claims with its external advisors and will respond in due course.
Sold out here results not that amazing as expected but all the price moving catalyst are gone now. Better stocks elsewhere
This needs to go back to the pre-offer trading level of 125p or so.
Best
Happy
I'm angry. Look at how U-blox's share price has risen after they called of their approach. They were giving us a majority share in the enlarged group and we would have benefited disproportionately from the collective upside.
What's so good about these results? Revenues sharply down during a period other tech companies have really taken off. If anything the results demonstrate amply how we could have benefited from U-blox's sales and distribution network.
This was a case of maintaining jobs for the boys rather than maximising shareholder value.
All IMO
Best
Happy
Should be back to 125p now.
Very disappointing behaviour by management to scupper an excellent offer from U-blox.
These results are nothing special.
London, 19 January 2021- Telit Communications PLC ("Telit", "the Group", AIM: TCM), a global enabler of the Internet of Things (IoT), has published a trading update for the year end at 31 December 2020.
The Group is pleased to report that revenues are expected to be $343.0 million (2019: $382.8 million excluding automotive), a decline of 10.4 % , which shows considerable resilience in the face of the significant impact Covid-19 has had on the Group's global markets. It has been very encouraging that IoT cloud and connectivity revenues have continued to grow and are expected to be up by 6.1 % to $43.5 million (2019: $41 million), driven by the continued strong performance of both the connectivity and platforms businesses, supporting the Group's primary strategic focus on industrial IoT services.
As previously notified, the Group has taken decisive and timely mitigating measures to limit the impact of the pandemic on the Group's adjusted EBITDA, which is expected to be in the range of $38-$41 million (2019: $38.2 million including two months EBITDA contribution from automotive business).
Group profit in cash is expected to be in line with the Board's expectations.
As at 31 December 2020, the Group's net cash position is expected to be $63 million (31 December 2019: net cash $48 million).
Paolo Dal Pino, Chief Executive Officer Telit, commented:
"Telit has been able to successfully improve operational results, profitability and cash generation in the face of the ongoing impact of the COVID-19 pandemic thanks to our refocused strategy and operational transformation in recent years, as well as the swift actions taken by the Group early in 2020.
This resilience has allowed us to fully maintain our strategic and operational plans despite a market slowdown in customer demand, and to continue to offer leading 4G products and an expanded 5G offering, which received additional certifications and design wins in 2020, to customers looking for long-term IoT solutions.
"We have the right strategy in place and expect to further expand our innovative offering fully focused on industrial IoT. Telit is well-positioned to harness future opportunities in a world that will become even more connected.
We have noted the announcement from u-blox yesterday that it does not intend to continue with its offer for the company. We have a sound strategy and strong fundamentals. The Board remains confident in Telit's prospects as an independent company and believes it remains significantly undervalued when compared to similar companies. We do not believe this discount can be justified and will continue to work on initiatives that will help to eliminate it and deliver the increases in shareholder value that our underlying performance justifies."
I was expecting more in view of the previous RNS. This latest offering smacks of 'attempted positive spin' on what is basically a mediocre update. Was going to use today's opportunity to buy but now think there will be better opportunities later.
I'm not sure how they managed to keep that decision a secret from the markets all day? Im also somewhat confused as to why the SP crept up to 205p without the cat probably out of the bag before the RNS came...The Teli BOD had better deliver on the strong trading update they eluded to in last weeks RNS, when they terminated discussions with UBlox.
STATEMENT REGARDING TELIT COMMUNICATIONS PLC ("Telit")
No intention to make an offer for Telit
u-blox Holding AG ("u-blox") refers to the statement made on 20 November 2020 regarding a possible offer for Telit and the statement made on 18 December 2020 regarding extension of the deadline to make such an offer.
u-blox today confirms that it does not intend to make an offer for Telit.
As a result of this announcement, u-blox is bound by the restrictions under Rule 2.8 of the Code. Pursuant to Rule 2.8 of the Code, u-blox reserves the right to set aside the restrictions in Rule 2.8 in the following circumstances:
(i) with the agreement of the board of Telit;
(ii) if a third party announces a firm intention to make an offer for Telit;
(iii) if Telit announces a "whitewash" proposal (see Note 1 of the Notes on Dispensations from Rule 9) or a reverse takeover (as defined in the Code); and
(iv) if there has been a material change of circumstances (as determined by the Panel on Takeovers and Mergers).
Seeing as U Blox share price rising significantly since they put the offer in, then surely with an all shares offer they could go much higher and still get Telit for the same price now probably in the region of 300p by now?