Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Well seen as the analyst report was produced this morning I thought I would share.
ITV - named as Top Takeover Target for 2019: M&A Desk Survey
There are a lot of Toms on this board and suspiciously they all seem to talk nonsense. In the link you posted there is only talk of a JV with Discovery. As I said the broker rating was a vote of confidence and as is correctly stated below it is based on fantastic viewing figures and future earnings.
Good vote of confidence, original share forecast - SELL / PT 150. New Forecast - BUY / PT 220
Yes I totally agree! Adds a little more excitement to the occasion!! Let call it invested interest.
Hi mate, yea I have refrained from posting on most boards but read your comment and thought I would pitch in! Yes still in here, really I think 2 quid, I went slightly overweight my normal position about 3 weeks ago as a bet on the football and love island. Whilst the market has been trading up at these levels I have trimmed most holdings and invested in a more contrarian style rather than active short term. Bought some VOD, HICL and IPE, but I do still have a soft spot for ITV. As I alluded to in my previous post, the technical seem quite favourable atm (this can change) so whilst we are just below the 200 day MA I will keep my overweight position and hope for a breakout.
To be honest Danny that news has been in the public domain for at least a month, the shares took a sharp drop on the back of the original announcement stating an investigation by the US. People bought the dip, but if there is something like that going on then your gambling on the outcome, not investing. Always good to be warry but I'm quite happy here at the moment. The stock formed a golden cross last Wednesday I think it was but bounced back off the 200 day moving average, I wouldn't be surprised to see it test again in the short term. On a technical basis if you confirm a golden cross there is normally substantial short term upside. Its not a guarantee as nothing is when investing but ITV has good momentum atm. Take a step back and look at the 3 month chart as its easy to get caught up in intra day movements like our friend TomE.
It was the auction, it wasn't 1 persons sale. The auction ended at 150.2 and the stock uncrossed there.
Far from it AllAtSea, just to enlighten you there is a separate section of the market called the preference share market. Irrd reference shares are something that are take verbatim in the industry as the title of the stock and the heading on the prospectus states they are irredeemable. 1. They are described in the heading to both documents as �cumulative Irredeemable Preference Shares� (note that not all so-called irredeemable preference shares are described in their terms in this way, but in this case they are) 2. Under �rights attaching to the Preference Shares� the documents state (Clause 4(i) ) that �The New Preference Shares� [now called AV.A, then Commercial Union] �will not be redeemable, save with the approval of the holders of the New Preference Shares to a variation of the rights attached to such shares�. ( Again this clause is not contained in all so called irredeemable preference share terms, but in this case it is). 3. Under Clause 4 (ii) it states that on a return of capital on a winding up, a premium over par is to be paid by reference to the gross yield on War Loan. This is what is known as a �Spens clause�, and was sometimes inserted into the terms of pref shares at the time these were issued (1992) in response to the 1987 HoF v AGCE decision, precisely so that pref shareholders could be protected from being redeemed at par against their will via an involuntary return of capital! Taking the above three points into consideration, I�d say that on balance it is likely that a court would find that the situation in this particular instance does not follows HoF v AGCE, but is more akin to Old Silkstone Collieries, and that therefore class consent is required to repay the pref capital at par and cancel the shares, because repayment and cancellation would involve a change in their class rights. The above come courtesy of Avidya. If Aviva were to buy back all ord shares at �3 (similar percentage loss to pref holders) would you be angry? Would you feel betrayed by the company? Or would you have just been caught napping? You obviously know very little about the markets.
CarpeDiem1 - I have written to Aviva and also cancelled my income protection insurance. Cant be trusted. Not that I alone make much difference but I am aware that thousands of people in the same boat are doing the similar thing. It doesn't matter to your average Joe but most holders of the preference shares are funds, trusts etc.... the people in the market that you don't want to cross. It will cause irreparable reputational damage in the markets if executed.
Aviva has miss sold them! You cant label something irredeemable and then simple pull the rug. The reason the price was inflated is that it was know market wide as an irredeemable share, it trades based on yield. If it were a bond it would have time value etc, if it were redeemable/callable it would trade with a price cap. The market makers didn't even know this was a thing so how advisors and investors were meant to is beyond me. The miss selling was done upon issue, not in the secondary market.
Hi Fallingknife, yes this is a big holding for me. Markets trading on low P/E compared to the rest of Europe, Russia set up to boom over the next year. Interest rates below 10% for the first time in a long time and inflation running at 2.7%, this gap should narrow to 2.5% spread in the coming months providing the public with a lot more money. Also the trust has a redemption at NAV in June, currently around 7% discount, this should narrow based on the arbitrage.
P/E 17.2. Company still growing, FTSE 100 trading on around 15.5. Cheap for growth. Quite happy to sit on this even if no quick turnaround. Institutional seller on L2 at 360 level, re loading the ask, once dried up the buying should take it north.
358.8. Looks overdone, I think it should be back around �4 in a month or so.
Director steps down with immediate effect. Sells 11 million shares at 5p above the trading price. To me that looks like he's stepping aside to let a suitor make a move. Also the on the release of a director sell the normal reaction is an SP drop, not here though...... Watch this space
Very interesting volume today. Its around 7 times higher than any other day in the last year. With consolidation expected in the sector perhaps its the first hint that someone is building a position!
Held steady, didn't buy any until this morning. The 3 day rule worked in my favour once more. I can see a move back to �3+ in the coming week
Don't buy a share based on a special dividend.... They are basically returning your cash to you because they are not re investing in the company. I think they will move up, I'm bullish from here but that's an invalid reason.
Hello all, my plan is to buy if there is sustained upside (say SP hits £3) but I feel there could be a bit more selling pressure tomorrow as holders who are not so on the ball see the drop this evening and react at 8am tomorrow. I will update on L2 in the morning.
Not a bad company, drop looks overdone. L2 looks like either a shorter holding the SP down or someone eager to get out, not much depth on the ASK but someone reloading and pushing it in to the bids. I will buy some but going to give it the 3 day rule as I think it may struggle tomorrow too.