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Can't see a downside, people need to eat! Give it a year or two and I suspect €2.15 will be in the rear view mirror. The Future looks Good (not very original)
Thanks for that. So shares currently trading at a discount to 2.15 IPO. If you buy today at circa €2 you should be in profit at IPO of 2.15 and any uplift at IPO also to take advantage of. Shares still a buy IMO unless of course someone throws a spanner in the deal but when deal presented both pty's appear confident it will go ahead without any hitch.
If sufficiently unsure and worried just sell before completion and re-buy I guess
Good question. I hold TOT in my ISA too. Someone on advfn holds TOT in a SIPP and thinks it'll be ok.
I don't know, but if Dole plc is eligible to be held in an ISA (Q1 - will Dole plc be so eligible?), I'd hope my new Dole plc shares would be credited to my ISA account without falling out the ISA wrapper. This is because the RNS says TOT will "cease to be listed" on LSE "upon completion of the listing of Dole plc", which I read to mean the combination completes and Dole plc lists (and I get my Dole plc shares) before TOT's de-listing. TOT's de-listing would render holding TOT in an ISA ineligible, but TOT shares wouldn't exist at that point any longer, so it's not a problem. (Q2 - is that right?!). Might be one to ask the ISA provider, HL in my case.
Egghead, just another thought, if you own 1,000 shares at the moment then at the time the deal is finalised they should be worth €2,150. When they list in the US nobody knows how many shares you will have however they will be worth a minimum of the $ equivalent of €2,150.
If anyone has a better understanding please post
I believe this will be very rewarding for current holders however we will need some good quarterly reports to really get the SP moving.
Egghead, this is how I see it, we own 100% of a pie, we will own a smaller % of a bigger pie. Depending on how much is raised when we float in the US we will own less again however the debt level of the bigger pie will reduce by between $500 and $700 million.
Not sure if I have answered you query. I think in 3 to 6 months time wi will be better off.
One other point, Dole PLC (Not Inc as I previously posted) will report quarterly and not 1/2 yearly. We need 4 very positive quarters after the listing.
GLTA
NYS, there are a couple of posts in the ADVFN site about the issue you raised.
Any tax experts out there ? I've been investing in TP for many years, one reason being that they are listed on the AIM Market and also the secondary market in Dublin, therefore they fall outside any Inheritance tax for UK investors. Does anyone know if they will retain this IHT status ? I assume not but hopefully someone might know of a loop hole.
Thanks for attempting to answer my question but I am still unclear. Do we retain 100% of our current shares at say the €2.15 price or is this cut to 82.5% of the 2.15 price(i.e. 1.77). alternatively if you own 1000 shares at €2.15 will you still own the equivalent amount at the IPO at €2.15 or will you only own 825 shares(i.e. 82.5% of 1000shares)
does anyone know if i will have to give up my shares as I currently hold them in a Barclay ISA account
Just to clarify my last post. If they raise $700m and we don't participate we end up with 50%, if they raise the lower figure of $500m and we don't participate then we end up with more than 50%, I don't know the exact %.
Hopefully we will get a progress update in a month or 2.
1. We will own 82.5% of the new US listed company Dole Inc.
2. The plan is to raise equity via a placing, total amount between $500m & $700m. However if existing shareholders don't take up or get the opportunity to contribute to the placing we will only control 50% of Dole Inc.
Anyway that's my understanding. If someone knows better please contribute. The very interesting information is that our PE is somewhat lower than similar US listed companies. If and when US investors buy the story the SP should be well north. Bring on $5+ (I hope I'm alive to see it) GLTA
Merger details say minimum value of these shares will be €2.15. I note Total Produce will own 82.5% of new company. Does that mean that we will own 82.5% of our existing shareholding at €2.15 or will we still own 100% of our current holding at €2.15 in new company
At 1st read the results are very good. SP is €2.10, when Dole Inc lists I am very hopeful that the SP will reflect the true value of the combined businesses.
Not sure where you get "the price has stalled" closed at €2.09. I have held these shares for 20+ years (Fyffes) I am delighted with the news, this is going to be very good for long time shareholders. You can take it that I have had a very profitable week, well off all time high of €2.56 however give it a couple if years and we will be well above that price. Go Dole Inc !!!!!
Where's an international antitrust lawyer when you need one...lol
Yes, presumably the parties are confident there'll be no issues. Thought I'd flag it though, as we're told new Dole would be "twice the size" of its nearest competitor, something that whichever competition authority/ies has/have jurisdiction will no doubt scrutinize thoroughly.
Apologies. Price has stalled so some doubts are perhaps emerging.
The only issue could be if they dominated in any one product- ie Grapefruit for instance, had this questioned when Total bought 50% of Outpan South Africa. EU are particular about this.
RNS states there will be an IPO of new entity
No offence, but it is a merger not an IPO. UK CMA will have no input as future listing will be US, and primary current listings are Irish and US.
You would imagine this would be explored already. After all thay have in effect bein trading together for a few years now and no issue has arisen. Only thing to delay this now is poor matket conditions for an IPO but hopefully markets will remain stable until IPO happens.
They open at 9am!
Company shares trading in London but not in Ireland. Can someone explain please?
Will the competition authorities be happy with Dole twice the size of nearest competitor?
Should be positive fir share price after stagnant few years. Will have to see if existing holders can exchange our shares foe dole.