Question15 May 2020 10:28
My question on Wednesday's presentation and their response.
Q17: With your market cap of c£23m are you concerned that you are vulnerable to takeover?
Our rating is seriously depressed which is not unusually or surprising given whats going on in the world but people will start to go out again at some point, planes will fly again and oil prices ought to rise again. On this basis, now is an obvious time for consolidation in the sector and any deeply discounted company under these circumstances will be having the ruler put over them. There’s always somebody bigger than you so in short yes there is always the possibility that this can happen.
Collectively, the Board, family and friends hold c. 40% of total shareholding, and any takeover bid will be difficult as a result. Given the future trajectory, any takeover, at the very least will be in the interest of all shareholders.
GLA