Ignore my last, it was from Friday!!!!!!!!!!!
Berenberg and Liberum raise to "Buy", targets of 112 and 106 respectively.
Addition of a surveying business, bought at less than twice revenue. Seems a good deal. Expansion continues.
ADVT are offering a poor, paper only, takeover. A cash offer from them is not on the cards. Cash would only come from another potential bidder. ADVT can command about 25% of the votes needed through their own and Vin Murria's holdings. They will have possibly hoovered up another 10% or so in the last two days as PIs get out. So 35% is most of the way there. Institutional holders may back Ms Murria, and if so this is a done deal. The SAA board say this undervalues the company, and I agree. ADVT said after hours they want to discuss the terms. Negotiation by RNS is not a good sign. ADVT will try to schmooze the SAA board around to their way of thinking. There's a good chance they could be successful, but the SAA board should simply reject this out of hand. If they do ADVT and Ms Murria will off load their shares, and the price will tumble as a result. Whatever happens we are knackered in the short term, and most probably in the longer term too.
If th
https://www.ft.com/content/c756b59f-a2e5-4772-84e6-0b751372f31f
Interesting view. Chaos to come.
ADVT are offering us 1.87 shares for 1. Hideous dilution. SAA RNS at 1500 states "It is not clear to the Independent Directors how shareholders and other stakeholders would benefit from ownership dilution and a change in board leadership of the Company." I agree. However Murria is known not as a true IT person, but as a business person, who buys companies, combines them, and then flogs them on at a profit. Not happy, but holding.
Agreed. A poor outcome for us. Dilution in exchange for a new board. However, more dynamic management could be a blessing in the longer term.
https://www.londonstockexchange.com/news-article/ADVT/potential-merger/15278661
ADVT suspended at own request pending action. This is happening VERY fast!
https://www.londonstockexchange.com/news-article/market-news/suspension-advancedadvt-limited/15278660
The "at pace" seems an odd qualification.
https://www.londonstockexchange.com/news-article/SAA/statement-re-possible-offer/15276360
AV. now below 3%.
Essentially Vin Murria has sold a shed load of shares to...Vin Murria! Interesting!
Very odd! RNS later today? The value was 10% of the market cap. I do hope we are not seeing an institution or a director bailing out.
The company has not mentioned this since the preliminaries a year ago. There is a fine coming, but how much is anyone's guess, as is when it will be dished out. They themselves have effectively said this! It will not come cheap. I think this is a major factor in keeping the price down.
Link Group, 10th Floor, Central Square 29 Wellington Street Leeds LS1 4DL
CHANGED IN JULY.
It also strikes me as a bit suss that they choose to announce this between Christmas and New Year. I am surprised this has not fallen a lot further.
They are looking for £2m, c4% of annual revenue. No provision has been made despite the issue going back some years.
https://www.londonstockexchange.com/news-article/NTBR/notice-of-legal-claim/15266700
Revised results not to the markets liking. Not overly impressed myself, but we are in the black and with decent cashflow. Glad to see Martin Ooi on the board. Progress is slow, but at least it is progress!