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After holding TCM for 8 years, I am happy to have sold my entire holdings today with a nice profit. IOT companies like Telit, Sierra Wireless, u-blox seem like exciting growth stocks but in reality they never lived up to the hype. Whilst these IOT companies will most likely generate profits in the future, a lot of those profits will get re-invested into R&D and maintaining market share in a competitive market. If you are considering holding on or opting to take up the alternate offer, you have to ask yourself, what will Telit achieve in the next 10 years that it didn't manage to achieve in the last 10 years.
Same position homey. Not as long as you but I got in pre ozzy scandel days and increased in the dips. Not a huge holding by any stretch but i've sold out too at a reasonable profit.
I had high hopes that I was investing in a growth technology. Telit have always impressed me with their innovation and market presence but no matter how great the news never really gained traction. This deal feels like the time to leave and have other prospects in their infancy that the gains here can go towards.
Good luck to those holding for potentially more.
I wish you all well.
ATB LB
I sold mine yesterday(2 x30k trades). Have been only been a shareholder since 1.40 last year. In and out several times; buying the recent lot when it recently surprisingly dropped into the mid 1.90's.
DBAY are far too clever for me and have taken a lot of shares off individuals at too cheap a price, allow this elongated takeover period.
Could I have got more, maybe. But DBAY are super clever!
From beergut on the other site
"On behalf of funds managed by us, Berry Street Capital Management LLP owns over 1% of Telit Communications Plc.
We were disappointed by the Telit Board’s recommendation of the Cash Offer from their largest shareholder, DBay Advisors, at a price that even the Board recognises undervalues Telit and its longer-term prospects. The Telit Board has justified this recommendation by, amongst other things, the fact that 58 per cent of Telit’s share capital supports the Acquisition. This fails to highlight that, of that 58 per cent, over 41 per cent is owned by the bidder, the CEO and other shareholders who will be accepting the unlisted stock alternative offer and will be able to continue to benefit from any subsequent increase in the value of Telit. This unlisted stock alternative is unable to be held by most of the independent minority shareholders and, as the Board recognises, is unrecommendable for minority shareholders to accept.
Yet again, the Board of a UK listed company has recommended an offer structured as a scheme of arrangement at a valuation that does not reflect the true value of the company, with a stock alternative that is not a true alternative for the majority of independent shareholders. In our view, when such a structure is contemplated, the Board’s fiduciary duties should be focused solely in protecting the rights of the minority holders who are only able to accept the Cash Offer and should not be swayed by the desires of the few shareholders who are party to the creation of such an unfair structure.
"
As I've mentioned before, DBAY could just be flipping it onto the real acquirer, hence why the insiders are opting for the alternative proposal.
But is the standard investor able to take the alternative proposal, as Berry St Capital say?
Can't know DBAY, I've done well on the various trades, most larger than the recent one.
My last post here, so good luck all.
Can't know DBAY = "Can't BEAT DBAY"
Agreed Itsyou.
These Guys are exceptionally sharp.
I'm not even invested here anymore but the Telit BoD should hang their heads in shame. Pathetic individuals. We cannot blame DBAY for taking advantage of what are a bunch of jellyfish from what I've seen of the events here. Sorry but the latter are not fit to run any company.
Paolo Dal Pino, CEO
Eyal Shefer, CFO
Don't forget their names or make the mistake of trusting them to look after your interests again in future.