Totally agreed. Worse, they had several opportunities to produce a superior version of HL, but circumstances and indecision led to this not being pursued. Reject the SIRIS bid.
In my humble opinion the shares are way too low at the 180p bid price. The sum of the parts valuation is nearer to 300p which is why SIRIS is trying to buy at this ridiculous and shockingly Board recommended 180p price. The new CEO Paul Lynam had only been at the table for less than a month before the bid came through and has done nothing to justify his "mindedness" to accept 180 pence. The all time high was 330p the IPO price was 165p and the rights issue price was 190p. Definitely refuse this offer. A white Knight could appear and why let another Private Equity firm take this former Lloyds Bank Share Registrar onto their books only to IPO it again in 12 -24 months at double the current price. Reject the SIRIS bid at all costs.