The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
True to a certain extent, but it the share price doesn't reach 11p in next 4 years and Magna therefore don't convert we would need to pay back the loan at that stage.
Still I will be amazed if we're under 11p by this time next year let alone in 4 years.
This explains it better https://www.ashurst.com/en/news-and-insights/legal-updates/takeovers-in-australia/
I believe this is incorrect. 10% allows you to block a compulsory takeover of all shares. It doesn't proclude anyone getting 50.01% and effective control. At 75% they can take it off the stock market, but holders don't have to sell. At 90.01% they can compulsory purchase any remaining shares.
I agree it's not late. I'm assuming they're reporting the end of September numbers. My understanding was that the oem's would provide that info by the end of the following month I.e. October.
Therefore I'm hoping we're talking about days to get the figures and we won't have to wait till the end of the month.
The thing is they themselves committed to doing quarterly updates. Quite a while ago now. I initially thought they would do it towards the end of October relating to September numbers. They have now said they will be announced in November so people are expecting it soon.
Right at June 30th the backlog was over 10,000 units. I'm wondering if any of these are the gen3 product that we've presold. Otherwise it's a massive backlog to make up with gen 2. It's basically 25% of the current installed units.
How do you measure king of DMS though? Cars on road? Possibly but they had a headstart as we were stuck in a Takata exclusivity.
But either way our cars on road have probably generated more cash than theirs. Certainly in the last year. We had more DMS license revenue in the first 6 months of this year than Smarteye in the first 9 months.