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Started: StephL, 24 Oct 2022 17:42
Last post: Simzimm8, 26 Oct 2022 11:12
Apparently they have 14 days in which to payout via holding accounts or cheques, so should get funds no later than the 4th of November!
Thanks. But oh dear
You get 110 per share at some point in the future
I can see they’ve been delisted. What does this mean for us?
Started: Worldsend, 7 Sep 2022 10:48
Last post: Kent1, 20 Oct 2022 09:57
It's my understanding that Ted Baker shares will be suspended from tomorrow. So accepting the bid appears to be the only option after that suspension.
Why has Tosca agreed to this sale price when earlier the price that was rejected was higher?
Still average @ 72.1p so will wait.
No dealing charges if you wait and don't sell so I was informed by Hargreaves
Now that the takeover is approved, is there any point holding these shares or best to sell and take your money?
No sign of any other offers I think this will be gone the way of so many brand names
Started: luckystar11, 16 Aug 2022 17:28
Last post: oceanpassage, 17 Oct 2022 22:56
very remanicent of McColls for me who raise cash from a rights issue & then went into admin around 6 months later.
Who would have put their money in at all if they thought the company was about to go bust?
What I will say to this end is that the Board were widely reported to have rejected the Sycamore big becuase it significantly undervalued the company.
A lesser bid was then successful 4 months later.
Should Sharesoc be contacted?
I quite agree.
*vote against it
Last post: SteveJones999, 29 Sep 2022 04:46
I maintain my inference is obvious
If you wish to discuss your trading strategies that's fine, however if the rest of us wish to question your motives we should be free to do so.
If you can't figure out what you mean in my post then I'm surprised you even have the ability to type as the inference is so obvious
If that's such a great idea why sell only half.
Highly like will go through- but you are correct- what does that mean for the timing to get ur cash for shares? Other buy outs like this have taken 6months- so I may sell half now as don't want my cash doing nothing for potentially months
Started: Kent1, 13 Sep 2022 23:42
Last post: Kent1, 13 Sep 2022 23:42
She was at Debenhams let's not forget. What a great time that was to be a shareholder, in that shambles.
Started: Ade1234, 30 Aug 2022 20:57
Last post: niklol, 6 Sep 2022 20:40
Sept 29th
Yes I thought we would get a vote before the offer is finalised!?!
I agree but don't we still get a vote before the offer is finalised???
Yep, hence my annoyance at the nutty low price.
Have you seen the update today? Store revenue up
20%
Started: CR888, 3 Sep 2022 15:57
Last post: CR888, 3 Sep 2022 15:57
ABG can add value with the expertise from some 30 other brands
They bought Brooks brothers after it filed for Chapter 11 at a low price ….they seem to low ball companies that have been through a tough time , and certainly not over pay … but grap good brands when they are on their knees …. Nasty for loyal long term shareholders
All I can say is Darktrace are doing well , and if takeover happens then expect 650 p from 500 p now , if takeover not happen and no one knows then a drop to 400 p could happen … place your bets if you have the stomach for it …
Started: Silkymoves, 26 Aug 2022 08:55
Last post: niklol, 28 Aug 2022 12:18
Agreed
Why would anyone buy above 109 I don’t know ,Tuesday will be interesting
Well, what to make of this?. Share price now just above 110p offer after late jump Friday, shorts closing , someone get a scent of a counter offer or what?
Bloody tricky isn’t it . I think there are many good opportunities at the moment which is my main reason. I’ve sold now so thank me later when a higher bidder appears! Ha
Silky, I think there is a good chance a higher bidder will appear but I did sell around 20% of my holding yesterday to buy more psn and ggp because I thought they had both been marked down too harshly and we almost certain to recover within a short time. One day in and i was wrong it seems!
Started: Ade1234, 17 Aug 2022 15:54
Last post: SteveJones999, 25 Aug 2022 21:02
Apologies for not reading all the posts so my question may already be answered. But any idea when my share here will get turned into the 1.10 or do I just sell them now? Pros and cons please if anyone can help
Peteret, Your share broker/share platform will liquidate your shares and credit your account.
its all a disgrace to be sold out for so little. Does anyone know how this is going to work. Will the meagre 1.10 per share suddenly appear in my account as my share holding disappears or what and when
Yep and they still get their % whether ur pension goes up or down...
The problem in this country is the institutional investors/pension funds aren’t active enough. They amass big stakes in small company’s purely because of the levels of money they are dealing with but they aren’t interested in approving anything. They are just run people who are in it for the large commissions and fees. They sugar coat their funds with some fancy strategy for picking stocks but the reality is they just diversify to a ridiculous level. They say they are active managers but you look at their holdings and they end up owning almost 100% of an index? So the whole industry is built on greed and lack of business/entrepreneurial spirit. Makes no difference to them, they still get the 2% AUM fee.
Started: zccax77, 16 Aug 2022 01:26
Last post: WolfofWarks, 20 Aug 2022 18:49
It basically says that they shouldn't have any issues with refinancing their current bank credit facilities.
What does this mean ?
This is an excerpt from the 2022 Annual accounts:
The Directors anticipate starting discussions to renew the RCF, which expires in November 2023, during Summer 2022, and believe that, based on the forecasts, the underlying strength and appeal of the Ted Baker brand alongside the positive and supportive relationship that the Group has had with its lender banks, the Group will be able to agree an extension to the RCF at an appropriate level and terms prior to its maturity.
Sold out at 108p having bought in at 103p. Meagre profit but a profit (£1k overall) is still a profit. Oh to have sold-out after the first Sycamore offer came in! Some type of lesson to be learned.
Started: eldesiempre, 16 Aug 2022 17:09
Last post: SteveJones999, 16 Aug 2022 18:29
Yep alas so- hence my caveat
Tosca have committed their shareholding in support of this bid and it is binding. If you read the full document , including Appendix 3, this sets out who has backed the offer and the very limited circumstances in which they can withdraw that support.
I wouldn’t hold up hope on Tosca coming to the rescue.
Agree- seems totally bonkers that they would accept this low offer unless they want to put their money somewhere else that will more than make up for their loss here...
IMHO Tosca will be announcing a competing not later than friday.
They owns 28.9% of TED at an average price of 113.8p being acquired at 148p the last ones.
After several years holding TED they are not going to sell it losing money IMHO, moreover they may improve this low ball bid with a sweetened one.
It will be interesting in the next coming days!
Last post: WolfofWarks, 16 Aug 2022 17:16
I think TED has been victim to the macro we facing. High interest high inflation retail business trying to be sold at the start of a possible recession.
It’s not the greatest of times to attract as investor, not many buyers in the market for investments where profits lie way into the future.
The board must be kicking themselves now that they didn’t accept the previous offers.
No point in taking the peanuts until mid next week at the earliest imv unless some other compelling opportunity pops up - give the previous bidders a chance to reconsider the silly price now agreed and any positive retail news that may arise.
I've now taken the peanuts. I ust don't get the feeling the institution investors think a disruptor is on the way. 19% lost, but better than when at the very silly price it was. Good luck to remainers.
Market is now starting to price in a new offer as sp has crept up to 109 matching the offer price once stamp duty and dealing charges are included. Hopefully this pm we will close above the 110p.
Agree with a share price so low this must alert the likes of Next to go in with a late offer
Started: win4call, 16 Aug 2022 15:00
Last post: win4call, 16 Aug 2022 15:00
Having read through the full announcement in a bit more detail, I don’t see there being a bidding war.
Bidco have received binding commitment for over 50% which can only be broken on quite stringent circumstances. This includes shareholdings of Toscafund and Ray Kelvin, therefore they are committed at this level.
On that basis, I have decided to sell and take my small profit knowing that I’m one of the lucky ones not to have been in higher.
Started: Andyhill, 16 Aug 2022 11:37
Last post: 100notout, 16 Aug 2022 13:55
I wouldn't be surprised if Sycamore come back. They must be feeling a ****ed off that their offers were turned down to be beaten by a 110 bid which is down from the initial reported offer of 160. They obviously didn't want to go higher but they saw value at 140 yet their offer was rejected as the Bod deemed their offer was not enough. Incompetence at its best.
bought in 2019 @ 820p and again at 500p !!!!!
What's everyone averaging? I'm going to book a small profit but for the time and cash put in I feel more than a little insulted by this.... feel I shouldn't moan too much as I know a lot will have lost heavily.
Started: Steven4572, 16 Aug 2022 13:23
Last post: carnivora, 16 Aug 2022 13:24
Well I sent an email this morning. Doubt I’ll get a response
It would be nice for someone from the BOD to come out and explain on why £1.55 was rejected but £1.10 is acceptable
Started: luckystar11, 16 Aug 2022 12:37
Last post: noggers, 16 Aug 2022 13:03
Just my thought exactly 11, i was lucky sold mine above 150, then bought another tranch and made a small profit on those as well, wondered wether to get back in again when in the 80s but didn't, but how the hell can a company reject an offer at 155 and then tell it's shareholders to accept 110, there is somethimg fishy there imo.
It seems like pockets have been filled and money made by all but the owners of the company who are the shareholders.
Maybe the BOD forget they work for the owners?
Mom-and-pop investors lose the lots of money. They reject 137 and 155 , Then agreed 110. I guess , board and main shareholder will have got something (we do not know). Two months ago, they got the offer, 137 price , the board said It seriously undermines shareholder value. Now they accept 110. If we are living in the USA, they are accused.(Just my guess).
Started: Steven4572, 16 Aug 2022 10:10
Last post: carnivora, 16 Aug 2022 10:17
I’m in at 1.66 lol
How can the BOD turn down an offer of over £1.30 a share then accept £1.10 two months later. Absolutely stinks. I’m in for an average of £1.20 a share. Not a good day!!!!
Last post: Swanny27, 16 Aug 2022 09:26
The BOD must have secured themselves a better inside deal going forward as they just cannot be that incompetent. I would have thought a regulatory investigation will be forthcoming as to the real reasons in turning down the higher offers.
It's a utter disgrace to accept this offer for 110p. BOD will definitely know more about the business, but this is unethical. Why did they reject offers for 130p and 138p earlier, which i believe was undervaluing the business. Absolute **** show.
Started: MaryBr190, 16 Aug 2022 08:24
Last post: Taverham, 16 Aug 2022 08:31
Possible others imv are; Sports Direct because the new ceo is moving the company upmarket, Next because they have tons of cash and could expand the on line and JD sports because the new ceo wants to prove himself. Chances of another entering the fray at this stage 25% but I am holding and voting against the deal.
Yep - disappointed to say the least.. Can’t see anything changing so it is what it is I guess ..
Says it all really, TED going for a steal.
Last post: MaryBr190, 16 Aug 2022 08:19
Royally shafted things those with a 28p average cost are delighted with the almost 4 bagger.
Those thinking the BoD will look after the shareholders, rather than themselves were deluded.
Bod are recommending the 110p because sentiment is at an all time low and if they wait until the Ukraine war dies down there is a danger the company would be worth double.
a few options here;
1. Offer is accepted by required % of shareholders
2. Offer is rejected by a big enough percentage of shareholders, may be a subsequent improved offer or offer is pulled completely
3. Third party enters the bidding
4. A problem with regulators with the sale process, refused higher bids, current bidder offer more only recently etc
I should imagine the large shareholders have already been approached, so now its down to all the smaller investors to make there own determination as to which they think will happen.
This whole process stinks to high heaven, but small cap companies have very little power in the current environment
This is a bit like the AA buyout a couple of years ago. Shareholders hoping for a better price but ended up going through at disappointing level. Feel sorry for longer term holders with high averages, I only bought in a couple of months ago in mid 90’s but was hoping for £1.30 minimum or trade through for a while with a better recovery.
Also: Ted Baker rejected a second takeover proposal from Sycamore, claiming that each of Sycamore’s offers ‘significantly undervalued’ the company.
Sycamore initially offered £1.30 a share, which was later raised by 5.8% to £1.38 a share, valuing the retailer at £254m ($334m).
Last post: nlondon1234, 15 Aug 2022 22:53
Testicles.Brands like empires ride high and then something else is fashionable.Superdry's owner used (perhaps he still does!) own a private jet.Topman even went into admin.Joules too!Although Joules was always more of a specialised middle aged, country mum with 2 kids and a spaniel kind of vibe.
Next seems to be an exception to the rule.It's ceo sure knows his stuff.
Why must they accept?
Share holders have been shafted they have give it away.
Started: Ade1234, 15 Aug 2022 21:54
Last post: Ade1234, 15 Aug 2022 21:54
I brought back in at 105 so I will break even but there are holders here that are 2,3,4 or 10 pound in what value have they had?
Started: Silkymoves, 15 Aug 2022 20:14
Last post: Silkymoves, 15 Aug 2022 20:14
ABG buy looking to get approved for 110p a share , possible news tomorrow morning at earliest! Way too low!
Started: Ade1234, 15 Aug 2022 13:53
Last post: Ade1234, 15 Aug 2022 13:53
If Ted don't sell after many months of talks i think will be weird now.