Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video 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.
I can't argue with that !
Not sure how many more times I'll be able to post on this subject!
I've sold about 1/3 of my TEF holding, and pending better ideas on diversifying within the sector have reinvested the proceeds in CRST.
While there's the chance of a counter-bid, there is also the chance that the bid fails. As the chance of a counter-bid wanes perhaps with time, I would expect the price to settle a bit below the offer price, reflecting the small risk to completion. But there is also a scenario where shareholders are not prepared to accept the offer and CBRE, having declared it "final", isn't able to increase without the emergence of a potential counter-bidder. In that scenario, I think CBRE might have to walk.
And he’s certainly not doing us any.
Very disappointed with what is a happening and with the Directors supporting this -especially Jerry who hasnt even been part of the jouney Not only as he failed to reach out to shareholders and the only deal he has so far secured was one of TEF's existing clients he has given us 2 fingers
I also think the price is too cheap
Having said that If Wisey wants to sell out I certainly don't begrudge him that and if Steffy wishes to move to pastures new again thats fine by me too He doesnt owe us any favours
So aren’t you just proving my point as to why we are being shafted? I actually disagree with you on most of these points ( other than a bright future which we should be part of) but that’s of no matter. Would suggest a track record of destroying the share price from £4+ when I was still a young man many many moons ago could also be considered a measure of this boards decision making.
Total respect for what they have achieved .They bet the house on Strat ,Virtually back to backed Carmen Street The United House purchase Now partnered with the creme de la creme and will be offered the best pickings.
It really doesn't get much better than that
What more can the Directors want .Maybe its end of an era time Wisey retiring and Steffy off to pastures new He looks to be ideal material to take the baton from Hugill & Butler at Urban & Civic
I am sure his apprenticeship there has proved fruitful
Let's face it the CEO of a subsidiary of CBRE is salaryman + and suspect Steffy's ambitions are loftier than that
Sain we all know that. BOD don’t seem to get that and they are the only best selling us out for a quick buck.
475p to 500p is fair and reasonable...
350p is not.
Sain. You are wonderful ! You still defend them even though you are being shafted??
Well they have already stepped up a league by partnering with M&G and Invesco They have Jll and Savills to find them the sites They couldn't be better set up and can't see that they will be remunerated better as a small cog in a large wheel
Sain. “The best team” want to get into another league irrespective of who they climb over along the way. If the company were in trouble we would all be delighted. It is not, it is transitioning, and while we are prepared to wait they are prepared to accept wads of dollars. Ambition trumps loyalty.
It may be that the bod are bound to sell their shares to CBRE at 350p even if a higher offer emerges
I should perhaps correct "beneficial owners" in my earlier post. By that I mean institutional positions - but those positions could be held on behalf of discretionary clients who would be the ultimate beneficial owners I suppose.
75% of the shares voted, but for the court meeting they also need a majority in number (i.e. >50%) of the shareholders voting.
Is the 75% total share votes or headcount .
Well even the lowball £25m forecast this year which looks as if it might be surpassed is still pretty healthy on a purchase price of £267m is a pretty healthy yield and then onwards and upwards again with all the potential BTR deals too
Its difficult to understand why anyone who wants exposure to the BTR game can step in here at the highest level with the best team and the oven cooking .It should be on every investors wish list
r
And in fact, there's the first really material move disclosed. Bank of Montreal selling a big chunk yesterday.
But clearly someone (or some ones) must be on the other side.
>The 8.3's are much more significant (at least IMO) as they disclose long positions, short positions and trades during the offer period of the beneficial owners
Thanks!
The 8.5's are not so significant cyberduck - they are just intermediaries.
The 8.3's are much more significant (at least IMO) as they disclose long positions, short positions and trades during the offer period of the beneficial owners.
I keep getting email alerts relating to institutional trades. Think I've worked out that it's a requirement for intermediaries acting on the behalf of clients when there is an offer announced.
Just had one re. Peel Hunt regarding yesterday.
They bought 165,016 on behalf of clients between 351.30p and 356.75p and sold 173,013 between 353.25p and 356.5p.
Had two earlier regarding JPMorgan & Shore Capital.
Agreed. My personal opinion the institutions won’t care either way the value of their holdings relative to portfolios is so small. A few pence lost on a better offer not materializing. Immaterial. Cashing in at this low price. Immaterial. Move on and reinvest in companies without the two or three years void of Telford. I would have hoped the dividend and the various agreements for strategic partnerships and Greystar would make them think twice.
Friends and family holdings have been referred to on many occasional on this board. Given the huge tax implications perhaps our only hope is they are willing to wait it out and vote against. Wishful thinking perhaps but they suffer the same as we do as P’I’s
Which 8.3's have disclosed any purchases, matth? The only one I've seen is from Renaissance who disclosed increasing a long position by a whole 2k shares through swaps.
https://citywire.co.uk/funds-insider/news/under-the-radar-aim-stars-target-4-yield-with-income-fund/a1178250
Octopus were building their position in TEF during headier times I suspect at 350p its a kick between the legs Diffilcult to seewhy they would be supporting a lowball offer just as things are looking more tasty
Not huge transacations, but a lot of 8.3's with really small buys from some of them