Member Info for dogger

Article in the telegraph today about Kipling in the US.
RNS re appointment of corporate broker.
Is this the start of the results of the strategic review ?

Just watching the webcast.
Alex Whitehouse is very impressive. Far better than GD

A realistic takeover target ? Especially if the SP doesn’t go beyond 40p on the strength of these results

“Nearing completion”.........do we still need one with this team in charge ?

When Mr Kipling owner Premier Foods appointed a new management team in August, it was a sign the company was taking real steps to revive its fortunes. Tomorrow, when it unveils its first set of figures with the new team in place, the market will be watching closely for any indications of what their plan will be.
In the past, the company’s relationship with shareholders has been tumultuous. In particular, it faced significant criticism over its decision to reject a takeover bid in 2016 – an offer which valued the company at around double the price at which it is current trading.
Whether the new team will publish the results of their strategic review remains to be seen – but if they do, they will be hoping their plans go down better with investors.

Agreed. I can’t imagine we will get any pleasant surprises. Our “activist” shareholders are proving anything but !!

Ride with Pfd. 5% down one day, up 5% another. Anyone got any idea what’s going on ? Or is it just business as usual for Pfd ?

The teens ??

This is a copy of an email that I received from Kieth Hamill the previous chairman of Pfd back in July 2018.

“On the Hovis point we do not want to make a formal statement, but what I can say is that:

1. We have said the business is performing well.

2. It would normally be assumed that the 49% would be more valuable if it was sold with the 51%.

3. The time horizon of the private equity fund owning the 51% for holding an investment would mean normally mean that they would looking for an exit next year.

I hope this helps.

Best wishes,

Keith.

If you are right, hopefully we will see an rsn shortly

What makes you think that ?

I don’t properly understand it either. I think it was some kind of equity swap by JP Morgan. I don’t think that it drastically affected their overall holding, but I could have got that wrong.
I don’t know if it was that that caused a 6% uplift one day followed by a fall the next.
Can anyone help ?

Go away in May.....back on ledger day......unless you are a Pfd holder !!!!

Down 6% another.....don’t you just love Pfd ?

The bit that I am not clear about is what happens to the pension scheme in the event of a brand by brand sale ?
I have a cunning plan that would solve everyone’s problems......Nissin buy batchelors at a very very very generous price. Pfd use the funds to pay down debt, which in turn would boost the SP and Nissin get their money back from the increased value of their 20% holding and we get to see our investment rise. Then with lower debt we become a more attractive take over target.
Does that work for everyone ?

I was working for PFD at the time that the decision was taken to move the service centre to Manchester. It was a dreadful decision....they had a great service centre in long Sutton, but it didn’t fit with the new corporate image.....and look where that has got us ! Not to mention the decision to spend £100m on SAP......another brilliant waste of money.

I have it on good authority that Oasis are happy about Colin Day’s appointment

Hamill has already gone. New chairman starts today.
New CEO already works for PFD, as does the new acting CFO.

I am sure that is the correct analysis......just wish they would get on with it !

Sounds like the right man for our job......we are keen on appointing failures !!