Member Info for andsoforth

"KEY POINTS
· Assets under management closed the period at £55.3bn.
· The decrease of £5.2bn from 31 December 2021 was driven by negative market returns of £3.6bn and net outflows of £1.6bn."
AUM down 6.5% over the last year. Pretty poor results here, largely due to the continued poor performance of the staff. Annual results on 29 July. The rumours of a potential takeover will hopefully persist. I will hold for the dividend, which is sustainable at c5%.

I think there will have to be a fundraise unless there is a takeover involving only paper. And even then we will see dilution. I assumed Crux had been adding because they believed there will be an issue of shares to existing holders. That was an additional reason I took the ADVT position. Let's face it, we are in the dark and can still only guess! I don't think we will be too disappointed though.

I think SAA management may take c220 if it is in cash, and they are well provided for. Seats on the ADVT board for all and free wine gums will see this through. I would not be disappointed in that, and have taken a few ADVT just in case. There has to be a fundraise of some sort there, but at what price and how will be interesting.

Thanks x54v. Taken an opening position here. The cash now stands at around 79p per share, and you can buy at 74.8. In addition there is the 9% holding in SAA. You can by a pound for 75p, so it would be rude not to. There is no actual business here yet, as it was created as a takeover vehicle. But the cash burn is minimal at £0.2m a year, and if the SAA deal goes through, there will be a valuable business here, even if there is mass dilution. I hold SAA too, but taking a holding here seems prudent to me. If the takeover does not go through, which I think it probably will, there should be another target on the horizon.

Either LSE are wrong, or the company is:
https://www.investegate.co.uk/wood-group--john-plc--wg.-/rns/date-announced-for-fy21-results/202204110700098770H/
I tend to believe the company.

SFOR no longer have the wherewithall to carry that through. It is the ADVT deal or nothing now, I think. The end of the month will tell. A bid at 220 would be very nice, provided we get the bulk in cash. ADVT is down to 75p now, almost 25% down since the bid issue was initially raised.

...results Wednesday. Anybody seen forecasts?

...on Wednesday. Anybody seen any forecasts?

https://news.sky.com/story/barclays-investors-demand-hit-to-finance-chiefs-pay-over-15bn-trading-gaffe-12579390

Takeover at Brewin Dolphin was followed by a piece from Shares Mag editor saying he thought RAT could be next on the list for a bid. My money would be on JUP. Rat is too well run.
https://news.sky.com/story/fund-manager-jupiter-hires-bankers-to-draw-up-1-5bn-bid-defence-plan-12492538

"The Acquisition is currently expected to complete during the third quarter of 2022, subject to the satisfaction or waiver of the Conditions. An expected timetable of key events relating to the Acquisition will be provided in the Scheme Document."

Not declared yet.

Does anyone know if ii site is down?

Directors are saying that the price is less of a problem than the proposed strategy. Maybe underlying this is how much the current management will get bunged,

Extension to 28 April.
SAA directors continue to see the offer as undervaluing the company, and have doubts over the proposed strategy. Personally, I cannot see an improved offer being made.

https://www.londonstockexchange.com/news-article/MNZS/recommended-cash-offer-for-john-menzies-plc/15389667

Phew!!!

Agreed. A side effect may ba a rise in price due to greater investor interest. After all there is money in the bank, and a PER of 5!

The deadline for ADVT is 1700 Thursday. Interesting times ahead!

Anyone heard any rumours? There has been limited trading activity this month. Is that a good sign?

This will be worth up to £200,000! Wow! (Not!)
https://www.londonstockexchange.com/news-article/GDP/share-buy-back-programme/15387590