I think the share is only moving slowly as nobody has a clue on take out price Prl average about 90p so not likely to be below that but then upwards to £2.80 has been mentioned. Polo were buying this stock at £1.50 12 months ago so obviously felt there was upside from there. Dont think its if but when and how much ????
Where as we would all be delighted with the figures been quoted in the Indian press £2.40 - £2.80 a share and it seems unrealistic as i for one would have expected 80p - £1 it is worth remembering PRL were buying these up to £1.50 only a year ago so they obviously thought there was value to be had at that price.
would you not have expected the firms wanting to takeover CDN to be buying up stock over the last 6 months as though it were going out of fashion ? and if so surely they would have passed the required % holding that an RNS would have been issued ?????
I see todays play by PRL as follows. A takeover proposal was put forward by an as yet unamed(not PRL) third party and although significantly above the present share price below what PRL want or indeed paid for there stake. So todays move was a defensive play to strenghten there position which hopefully will drive up the price of any offer. Any replys welcome !
Good value to be had here. Directors have good holdings, constant good news flow,discount to net assets , shouldn`t be affected by downturn as proved today.Buy, Buy ,Buy