The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
It's difficult to say. I'd be happy with £3. Christopher Mills sold a million and a half at £2.30 four months ago. That can be interpreted in different ways though. Those buying at £2.80 today probably know something, and you would imagine they are looking at make a small margin gain. I can't help wonder about other waste operators who might see the landfill capacity Augean have as something to go for.
Move up this morning seems to suggest that an offer will be made.
If the opening this morning is anything to go by then there is no deal at the moment. MS have to say one way or the other by 5 on thursday
It was always going to come down to whether Christopher Mills accepted what was proposed. If yes, then it's a done deal. If no, then there is little point in a bidder making an offer without agreement. We will find out this week.
Amazed no one has commented on the news of a potential offer. Even at the current price just below £3 it looks low, given the impact a win the tax case would have.
Thanks Oi Oi, really interesting insight.
Oi Oi, why do you think it is not currently quite working for them? As you say others are doing okay.
I meant to say unannounced, not announced second sale at Wilton. Agree with Toad and Gallmat that money could be better parked elsewhere for now.
Very underwhelming set of results. Not surprised at the big price fall. I would have hoped there would have been better news on the debt position. I might be wrong, but in the post results period they have sold off a previously announced second piece of Wilton - might point to the situation they are in.
Thanks Oi Oi that's a really helpful insight into this market. I was looking at the current share price and value, adding the level of debt and concluding that it seemed significantly undervalued, but as you point out there are lots of variables in reality.
Oi Oi what sort of value would you put on Cheshunt and Wilton park if in the unlikely event there had to be a fire sale?
Anyone any idea what a plot at Wilton would likely go for?
One of the update issues might be the state of the planning application that would extend the amount and lifespan of an existing site. From what I saw some time back they really have a considerable percentage of existing land disposal capacity in their category in the UK.
I was wrong results came out in february, but they are one of the few companies not to have made any COVID announcement. Last year they gave a trading update on 1st May
Results must be due any time now - so pre-results buying?
Clearly positive that the offer was fully taken up by 11 o'clock
Absolutely, and those with cash are going to be the big winners out of all this.
Still a number of fairly chunky share buys going through