Member Info for Franalex

Yes just added at 115.6p which seems decent price even without a bid.

Agree. Expected to see it open and hold a figure of at least 130p.

Did not complete last response. 2014 is the one most stuck in my mind as they completed several acquisitions of the size that would have interested us. So yes, Pinder/Parker era but what checks and balances the non-execs were performing was beyond me at the time and time has not changed that view.

No it was pre Lewis. It seemed they just wanted to buy revenue regardless of the cost. Anyone taking over was going to be faced with a huge mess.

Kipper, not sure that would have made too much difference. Several years ago, I was CFO of a business that competed with part of Capita for potential acquisitions. I have no idea what valuation techniques they applied but they always ended up paying massively more than I was prepared to go to. Sometimes multiples. I could never see how they were ever going to get a return on many of those at what they paid and that eventually they would have to write down a lot of the assets or sell at a loss.

Assume your comment is tongue-in-cheek. Boohoo can not even sort their own issues out as their share price has demonstrated over recent years.

It just struggles regardless and has done for many years now.

JatW,

Agree that a dividend rebase is on the cards and more likely than not. The Vodafone board was full of posters saying their dividend was sacrosanct and would not be cut but a new CEO gets one shot at it and needs to be early in their tenure. Personally factoring a 50% reduction for my long term holding.

That name belongs to Phoenix Group PLC

Despite the daft name I would rather the Board do something about creating shareholder value rather than wasting even more management time and millions on rebranding. Change of CEO was well overdue, the success of his tenure is illustrated by the share price, not the glowing tribute in the RNS for delivering nothing.

Make some money. Very long term holders are still massively down. Good to see sustained recovery after so many false dawns but remember they first hit profits of £1 billion over 25 years ago.

I do not see the continual extensions as negative, just pretty normal, and neither side will want to spend money chasing something that looks unachievable. I have held these shares for many years after being impressed by the product and have always believed that it would eventually attract a buyer at a good price. Personally would be disappointed with anything below £1.50.

Agree, the rate of spend accelerates as time passes and the fees charged by the top legal and accounting firms are eye watering. Many people also forget the range of specialists that get involved, I still have a number of deal books which list the teams on each side and it is amazing how many are involved.

Chrisbish. What you say is true although I was a CFO of a business where we sold part of our business for c£250m over 20 years ago in a process contested by two parties. Our fees were £7m and those of the failed bidder over £10m which as a major quoted they had to disclose to the market. Had both of them withdrawn our hit would have been close to £8m plus a lot of time. Completion of deal took well over a year and was subject to a lot of newspaper commentary, much of which was wrong.

Suspect it is more to do with clarification of issues coming out of due diligence. I have been working on a PE transaction for 18 months that was initially scheduled to complete in first quarter last year! Has never stopped but so many issues materialise once data room is fully populated and lawyers get at it, all of which take a lot of time. It will complete but deadline after deadline has passed. My fear here is that huge amounts (millions) of adviser fees will be accruing which consume cash and if a deal falls through will be a very large bottom line hit.

No. Small part of my portfolio but 95.4% down. First, and at the time unexpected drop was massive shortly after I bought based on “financial expert” and press recommendations plus accounts that did not tell a full story. Thought it might rebound but didn’t and it has been followed by several other big drops. Took the view that once 50% down may as well hang in which was a mistake but no point bailing out now. Have followed this board for years and there are always individuals calling the bottom based on absolutely no financial logic.

Bad news and problems emerging out of the blue or of far greater magnitude than anticipated have been synonymous with this business for years and just when you think things can not possibly get worse; they do.

“All about delivering” . It has been for years, endless new strategies and just patently unable to turn it around. Could recover, could go under, could be acquired, anybody who thinks they know what will happen is foolish.

On the basis this share has fallen from over £35 to just 48p, anything can happen. People have been predicting a bounce back all the way down. Just pure speculation now.

But absolutely nothing to suggest that the offer they rejected “under valued the business”. Hope they take questions on this decision at the AGM as the share price is a country mile off that figure.