Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Well M&G sold 30% on the cheap and no other holder has more than 6% and I assume 6% of Mobico is 0.000.. in those holders entire portfolio and You don't have to make your money back in the same way you lost it..they can just write it off against gains in many other shares they have.
If the Cosmens indeed would like to make an offer why would they wait until a sale for NA goes through? makes no sense in selling the only asset that can amortise their investment before they make that investment.
As far as we know " early stages" can mean f all....maybe they are just discussing it in their board room for all we know and based on the mgmt track record I think that is the case IMO.
They get 30% for dirt cheap, they offer a small premium for the rest wait a bit then sell NA and give Uk away cuz its broken anyway.
This seems logic to me however I not an expert.
Let's play a game ( for people who have a grasp o this share).
State your scenario on ow thinks will develop....will be interesting to see what people think.
Mine is shorts close by the end of April, Cosmen get to 30% ownership, an offer of around 110p comes along, Pi will be happy to get out (forced out basically).
The End.
MaryBr I thought exactly the same think :))
I will need TR1 if this carries on for few more months...I had high hopes and if the take over bid comes in I will vote no however I know that it will not matter one bit it will just make me feel better.
The only reason I am keep buying more is the hope that I might be able to make 20-30% when the offer comes in as I m currently averaging down.
This will never reach true value as a listed company and when you look at the statements back when the offer came in 2009 they said this will succeed as a private business.
This will get an low ball offer before any results come out.
They are dragging it on as much as possible and you will see Cosmen reaching 30% by the end of April.
We all know that sold in parts is worth a lot more and they got 700mil when they sold it......now having the largest holding since they sold the business plus the fact they have tried to buy it back when they had 18%.
Just think on what would you do???
If it plays out this way its the business deal of a life time and that's exactly how I would do.
The bad think is that the mgmt is helping all of this....thats the part that frustrates me.
Of course they will....and they can have Alsa for free if they buy Mobico at the right price.
Let's say they pay 800 mil for the whole business and 1.4 bit in debt. That will be 2.2 billion....surelly NA school and shuttle is worth that and maybe get a few hundreds for uk division.
So this way they can get Elsa for free and even have some change left over.
Crazy!!
Complete clown show.
This is gonna go on until Cosmen buys as much as they need to then will see a low ball offer around 90p-110p for a company that is worth at least 240p.....this is how the elite makes money.
I am just adding more....will see what happens.
I have a feelling Cosmen will make an offer for Mobico after which they will get rid of UK and NA which will not be the best outcome for us as I think it won't be a great offer.
Last time they have owned 18% they offered around 750 mil and the debt was around 1bil...now they have 22% and maybe a bit more which is not disclosed yet and I don't think is just them averaging down.
The mgmt is behaving like this is an AIM company.
I never thought they can be so dodgy.....even if the results get delayed again just announce it instead of this absolute silence
I haven't lost my patience I just wish someone better would be in charge of a company with 3 billion in revenue with a footprint in so many regions.