Member Info for Dubliner

Not invested but always look out for RNS's here and hope it works out.

Not a bad deal on what is not even their main Diatomite claim. You have to think if Pioche sells and so do (eventually) the Pozz claims then this really is a Company that will be collecting Royalties at various levels over time and not necessarily active in any way?!

Good luck...

I can quite believe the IIs have been sounded out about what sort of offer price they would find acceptable.

It could be some are trimming in case it does not work out; they might have a nice profit and want to crystallize that but keep some in should the deal go ahead. They might want funds to buy back later if it does not work out.

I can readily believe a deal might not be much above 160p; from this level guessing many will support it.

It is certainly in MDPs interests for the SP not to climb towards a likely offer price for obvious reasons.

I can't believe the extensions are due to the 2 parties arguing about the price.

Possibly still doing DD (want to see audited results) and maybe it suits them to do a deal in a new FY.

Personally if no deal don't see these dropping under a pound so feel there is more upside potential than downside risk.

I could not give a Flying feck if MDP don't want to pay up as feel there are excellent prospects irrespective particularly with Equals Money Europe starting to contribute.

GLA whatever your position is here; long, short or trying to keep the SP down ;-)

We will know soon enough what the outcome will be.

Agree DJ still very cheap.

We now have 2 interested partie so competitive tension.

We have results and Trading updated 16th April and then 'Put up or shut up' for 2 Companies by 5p.m 17th April.

Things likely to start warming up here and maybe another party will now show their hand...

Possibly levantic but that is good for us shareholders.

We are now seeing very solid numbers for this FY and if MDP want to do a deal it will need to reflect this and should be well north of 160p

Yes Oakham per below….

In the light of this request, an extension has been granted by the Panel and, in accordance with Rule 2.6(a) of the Code, Madison Dearborn Partners LLC is required, by not later than 5.00 pm on 20 March 2024

Adding to last post.

Our SP hit 121p on 20th Sept shortly after the interim results from last FY.

We are now around 106p with a supposed possible bid / takeover being discussed. It seems to me if the strategic review was supposed to realise value for us shareholders it isnt going great right now.

It was 1st Nov 23 when the Company first advised of the Strategic Review and made this statment;

The Board of Equals Group plc ("Equals" or the "Company") (AIM: EQLS) notes the recent market speculation, and confirms that it is conducting a review of the Company's strategic options (the "Strategic Review"). As part of this process, the Company has contacted a limited number of potential counterparties including Fleetcor Europe Limited and Madison Dearborn Partners, LLC to assess whether such parties could put forward a proposal that would deliver greater value to Equals' shareholders than pursuing a standalone independent strategy. Any such proposal could include an offer for the entire issued and to be issued share capital of the Company.

So it is clear the we approached Fleetcor and Madison to basically see if they were interested in doing some kind of deal with us to release value. Most here will know how bullish IST and RC have been on the Companies prospects particulary wrt the European expansion. It seems very likely that our BOD were pushed by some of our biggest Institutional holders to do this strategic review and I believe unlikely to be an initiative our BOD would have wanted.

I guess given 'we' instigated the discussions with Madison (Fleetcor were not interested) then 'we' (EQLS) have to give the discussions every chance of succeeding. I would hope that our management team are cracking on with the Equals Money Europe work and that we get some detail (and hopefully increased numbers) on this early April. This is AIMHO and DYOR.

Yes fresh. You timed your comment well as SP has picked up towards the close.

Be nice if we heard positive news soon

Possibly you are correct Ice.

Also likely that CC was behind the change to include dose expansion.

Yes extended again, now up to 26th March (zebbo correctly predicted this).

Again we see commented that trading is in line which is obviously good news.

I do hope this is the last extension!

I note the SP just jumped. 11.63 to buy and 11.51 to sell.

Some interest it seems...

McMuff, an excellent post as have your other AVCT posts been.

If I was to be a tad pedantic where you say ‘ Cohort 6 completed with left field change in trial approach nearly 6 months ago!’ it was in fact a little under 4.5 months ago.

Like many here believe the Company should be keeping us better updated.

Oh and re-reading that Sept interim results update I had forgotten we are close to 25% of Affyxell. I believe that stake will be worth a lot of money in the coming years.

A little hard to fathom the SP weakness post the bid extension.

The chance of a deal happening is surely more likely given continuing discussions otherwise would expect Ian to 'knock it in the head'. You would have to surmise there is agreement around what would be an acceptable offer.

Whilst we have a new deadline there is nothing to say we don't get an announcement before the end of the extended period confirming a deal has been struck.

Time will tell...

I note there is a positive update from Paul Hill on V O X. He suggests win win regards possible takeover or continue growth with European expansion. It seems SP dip this morning might relate to below comment in Paul's article;

"While 2H EBITDA margins (est 19.9%) dipped slightly compared to 1H (21.8%), this was likely a reflection of ongoing investment in the tech platform and overseas expansion (e.g. Belgium acquisition in June)"

Oakham, we are due a trading update for last 3 months (see below) this slipped as was due this last week;

https://www.equalsplc.com/content/investors/important-dates

Hi Oakham, I guess it will remain quiet on possible takeover until they decide if they are interested in making a formal bid or not. Not the type of thing where we will get commentary on progress.

We get trading update this coming week and that is the think to focus on now. Hoping for solid numbers and some initial progress on Equals Money Europe. Good news should ensure we get a decent price for any possible takeover.

Hoping we see usual V O X interview and/or something via IM platform.

GLA

There probably have been trades but LSE site not showing them today for some reason. I have bought 2 lots of a different stock that has moved up and no trades showing on that one either so a fault it would seem...

I am hopeful the upcoming trading update (w/c 8th Jan 24) will be well received.

In the half year results RNS we had this statement;

‘“The first half of 2023 saw strong growth which has continued into Q3 despite an uncertain macroeconomic environment. Given the current trading, and a robust sales pipeline, we look to the future with increased confidence, and we expect to be ahead of expectations for the full year”

They have advised numerous times since then that trading is in line with the Board’s expectations so fingers crossed. Strong results should mean we don’t succumb to a low bid.

Yes from 29th Nov RNS we had this statement;

"In the light of this request, an extension has been granted by the Panel and, in accordance with Rule 2.6(a) of the Code, Madison Dearborn Partners LLC is required, by not later than 5.00 pm on 27 December 2023, either to announce a firm intention to make an offer in accordance with Rule 2.7 of the Code or to announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This revised PUSU Deadline may be extended with the consent of the Panel, at Equals' request, in accordance with Rule 2.6(c) of the Code"

I guess folks are surmising that if MDP LLC wanted to do the deal we might have heard by now and therefore are taking some off the table (aka selling a few). If there is no deal the SP will likely ease back further but I believe that would be a buying opportunity ahead of the Jan Trading Update which management have guided should be in line with their expectations.

This is AIMHO and good luck to holders here whichever way this goes.

And apologies all for dreadful typos including in the header.