Member Info for barchid

Or indeed when the fat lady stops singing !

Harry
You raise a good point re Forward Venture Trust, as they were never showing as holders before, it should be safe to assume they are new holders, where did you see this though as I can not see an RNS about it ? When googled all I see is a charity, but wrt Link, they have to declare their sales within a few days of making them so as they have not appeared very recently it would seem that they are giving the market time to absorb the recent activity ?
The FT website does not show Forward Venture, I wonder if it is a private equity vehicle ?
But the real overhang now is Barnett's 19.5%, which with Link's remaining holding is still over 30% or rather more than appears to have been disposed of so far.
The very recent high volumes also could be MM to MM trades as no RNS has yet appeared.

Harry
Where is the resistance tonight, on the downside ?

Greg
Thanks for this input, I am modestly happy to see ACSO up 12.5% today, but let us not forget that it is still down 80% from its peak about a year ago, so it is more brown ale than champagne I think you would agree ?
Sailor raises a valid point today, if Tom Burnet (renumeration last year $609,000) sees it fit to become Chair at another company perhaps my unhappiness with our BoD is not misplaced ?

Greg
I think we have done what research can be done, like the stonking remuneration our BOD receive, anything else, until they give us concrete information, is surely guesswork, not research ?
One thing that keeps bothering me though, is why this due diligence should be taking so long.

Risky
I suspect that you are spot on with the rns, I sincerely hope you're also correct on price predictions, but if we're not close to the bottom by now there has to be something very wrong somewhere !

Quite probably closed, though I still find the yield enormous for a well capitalised company.

BBD
I am not sure that I read the document correctly, although I must admit it is somewhat unclear, the key point to me is in the documents;
8.2 Dividend policy for the demerging group
The M&G directors currently intend to declare a dividend for 2019 of around £310mill ...... equivalent to about 11.92p per share.
Note it says dividend for 2019, NOT the final divi for 2019.
It then goes on to say how the interim will be proportionate of a third of the total pay out.
Where I said "according to the prospectus" I was using the 11.92p figure stated in the prospectus to arrive at 5.4%.
If your reading of the prospectus is accurate, as a holder I am delighted but intuitively I always believe that if it looks too good to be true it probably is.
8% does sound very good, hence my scepticism

BlahBlah
Where do you get 8% from?
I suspect that you are assuming that the "special divi" will be paid each year, but believe me, the clue is in the word "special".
Then I think you will find that the yield comes down, according to the prospectus, about 5.4%.
Still good but don't believe everything you read, most of it is scribbled by inexperienced 23 year olds writing for a newspaper on the minimum wage.
What do they know?
DYOR please.

That is very interesting, Bamps, you have local knowledge of them. Given your own view of these premises it is even stranger that they were sold on such a big discount to book value & that Admiral taverns seem so upbeat about their purchases.

Well you have to be in it to win it don't you ?
And please remember that it is us shareholders who provide the pay for the BoD, which for 2018 was a "mere" $1,791,000, Tom Burnet on $609K & John Alder struggling along with a mere $500K as 2 examples. For that money I would have expected a bit better effort in communications from the BoD, I am surprised you appear content with them ?

Another day and another hefty markdown (5.8%) on the price, yet still no communications from the BoD.
Most odd.

Any idea why todays sharp rise ?
A very nice morning, I see a trade of 181,000 went through earlier, but good volume aside from that

Risky
You encapsulate my own opinion perfectly !
PE the most likely source of bidding & why not already happening?
Another dismal opening in an otherwise up market today just to put the icing on the cake.....

Greg
I accept that but is there anyone with a stake of over 10% anyway ?
As far as I can see the largest holders (all under 10%) are fund management houses, very unlikely to want to make a bid. Over 50% of the shares are held by the top 10 fund managers according to FT website.

Risky
Thanks for your clarification I always thought that was the case but could not check it immediately as the takeover code is not exactly a short document !
I have often posted about the apparent non existence of any serious buyer so it really makes one wonder what really is going on in that boardroom.

Pleasing to see yet another quarterly increase in dividend announced today, particularly so after the special of 15p recently. I know this is a tiddler of a company but it does seem to be rather overlooked considering its yield.

Don't forget Invesco are sellers too and have about 20%.
I wouldn't break open the champagne just yet.....

Greg
If the BoD were playing the takeover code, something which has been mooted before here, why would they have set the deadline for indications of interest to be submitted by Sep 30 ? They can read the daily price chart as well as we can so why fix a date when the 12 month price was so much higher, perhaps I can not see the wood from the trees but I see no reason why that date would have been selected when the 12 month high was then 2920 ?
Could you perhaps chop a few pieces of wood away so I can see the trees, as at present it looks to me like there is no one quietly building a stake, which one might expect when over 50% of the stock is owned by 10 investment managers (according to the FT) ?

Taverham
I quite agree, we have been strung along by the BoD with minimum (or even less) information for far too long.