Well after all the anticipation, seems to me to be a bit of a non-event in terms of issues that would depress or excite. Basically steady as she goes. The business is stable solid and financed, and has access to further funds.
They seem confident about sale of KL. So suspect they have particular party in mind. Maybe that party has dragged feet, waiting on results to see if the sale price could be dragged lower. But nothing in results suggests that it will.
So we now look to the Budget, where I suspect Kier will benefit and also housing – and perhaps make KL an even more attractive proposition?
Who knows what point the process is at. But it could be a long way to fruition. Even due D and contracts to be announced and signed in weeks or months ahead. I think to be honest no one knows for sure. There appears to be less short positions, so would seem even big shorters aren't sure what way this will go, otherwise why not keep open, or increase, especially in negative markets anyway. Less than forty eight hours to go and if it's good news lets hope it's not lost in choppy seas of market chaos!
Draw, the vast majority of cases are in northern hemisphere countries - where it gets cold in the winter. including Iran. The Tenerife cases are all in the same part as the Italian doctor. Don't think there are any cases in southern hemisphere not traceable back to the north.
Well I don't know all the detail of the debt or where it's at right now, or how good or bad the results will be. And I suspect they are being brought forward just to allow the company to "move on" as soon as they are out of the way. So I expect a clearing out of bad news too. But also show the company is going to be managed more efficiently in future.
Alos while there is a lot of talk of recession at the moment, due to the impact of the No 45 Chinese thingie - and some company profits are going to be hit hard. Just think of how many peeps might cancel flights around Easter alone. Easy Jet and Ryanair especially have a lot more pain to come. So what sort of Co would be good to invest in. What about one with lots of contracts with guaranteed local and central government funding here in the UK. Especially when you're involved in a very high profile project that the gov have a big vested interest in seeing a success. I think that is why, even if the results are just reasonable, then bigger funds will flow here.
But hopefully with the northern hemisphere spring and warmer sunshine just around the corner, the lovely Corna will disappear like spring snow!
Thanks Chuggley. I think the problem today is more to do with the Chinese No 45 thingie and how the markets are viewing the threat to commerce. Cannot see how we would be impacted, given we have mostly big UK contracts backed and paid for by local and central government. But I think a lot of the fall today is just us coming out in sympathy.
Fear about Coronavirus pandemic clearly stalking the markets today. Most probably because of surprising situation in Italy. thing is it's all northern hemisphere countries suffering in winter.....but spring sunshine coming soon to warm us all up and kill nasty viruses! :)
And given Kier's work is large, central and local Gov backed, UK infrastructure/housing projects at least we are sheltered from worst of any hits that commerce will take. But when FTSE 100 tanks, I guess we'll have to come out in just in sympathy!
We all hoping for another tech update soon. Still, the fact Birmingham NHS Hospitals - people that know the science, and probably a bit more about what is going on behind the scenes, and are a reputable UK specialists in cancer treatment - are prepared to already formally sign as partners must say a lot in itself. I mean in simplistic terms would they become formally engaged with something that was "mickey mouse". I suggest not. We haven't seen the "proof of the pudding" yet. But there would appear to be a very strong smell coming from that oven!
Next week the doors open legally for PE to make another attempt...if he wants.
After he walked away last Nov, he had to wait for another bidder to act first, or the BOD to give him permission - which was unlikely.
So could be an interesting time coming up for the SP now that he is free to act again....
Tony I was thinking that myself recently. why are we being dragged down as a Co simply cos someone else owes us money. We need a board who can say deliver the wedge or we send in the boys. Though I'm sure it's a bit more complicated do to international angle! lol. Can't understand why P Earl is up to? He, in an overall broad sense, probably knows more than anyone else. So why faf around the way he did? Surely to, regarless of the Argy situation, and he will know the likely impact, he must have had talks with Sterling about what they would expect. Maybe Y Finance too? And now he is locked out for 6 months...unless other things happen, which he might engineer, like someone else "making a bid". Mind I think the BOD were correct to tell him to take a hike Re the proposed extension. If he is interested I would expect regular buying again in near future, with him hoping he will have put off day traders and therefore can pick up whatever he can without send the SP ballistic. And what of us with our debts, and a rather inactive BOD not driving the Co anywhere. But at least the last coupleof weeks has confirmed there is huge understated value here. Just need to hold on and cross our fingers.
I think that it's a terrible reflection on Peter Earl that he allowed the share price, as expected, to shoot up again over last few days, before either his supposed financial backers or he himself fully declared hands information in public domain so far. I could be clutch at straws here, but he did not yet use words that definitely said he will not bid before 5pm tomorrow(?) That's why I wondered has he appealed to Takeovers and Mergers panel against BOD decision on extension.
Having read the RNS he now agrees to be locked out for six months basically unless other offer, board agrees, etc etc. Though part of the announcement seems to suggest he is only bound by that - except with the consent of the UK Panel on Takeovers and Mergers. So has he appealed against BOD decision and waiting on a decision from the T-and-M panel? Starting to think Mr Earl is in La-La land over this offer that never was. BOD has had no discussions with since October...yesterday supposed finance providers say they wer enever part of bid, and day before deadline he announces this. The Temp issue in Argentina is just that TEMP. He otherwise knows the Co inside out - and maybe that is why BOD refused extension. So what is the game her......
Darch not clear who else is in. Original RNS said "may or may not" be funded by IEH. Whatever their name must have been mentioned by PE and/or others. Hard to belive he let this run without any idea where funding might come from. At this stage he must alos be clear about what would be acceptable to Sterling and Y Finance(?) and so he must knwo what he needs? Strange..... Offer is not off the cards yet, but you'd have to say less likely. Though at least he has by default flagged up our below value share price.
What a shambles. Did the Co get ahead of itself by issuing the original RNS as a possible bid situation. Or did PE really indicate that was the case but really hadn't tied down concrete finance?!!! OR is there something else dilberately confusing at play here. Somrhting else: the other board shows Allanice News annaouncemnet at 12.05 saying no bid. But it's 13.30 before Co made announcement. Anyone know how Allanice New knew for sure at 12.05? I think PE is out of the game for six months (??) if no one else bids in mean time, if he doesn't make some kind of offer by 5pm Wednesday. It's not over until the fat lady sings.
Looks like a few traders,speculators, not wanting to be out before Monday's open. But suspect there won't be offer til deadline almost. Then low ball offer that allows PE and Co to remain in the game and negotiate - rather than be forced to sit it out for six months(?) unless someone else makes an offer. But we'll see.....
Looks like they are going to drag it out, which is surprising, given traders can pile in to make a quick few quid. Only a week left to bid or be forced towalk away - for 6 months? Something else I was thinking about. Sterling, both the management and indeed individual shareholders, must have got to know PE very well - given the size of the holding. PE must have often told them what a great investment RUR was. So you'd think it would be difficult for him to suggest otherwise now to Admin peeps. (as they no doubt were fully briefed on RUR)
Thanks very much GooooodFD. It is very difficult to value us properly without someone doing a robust solid fresh assessemnt on basis of a good business, or fire sale....and then what would be offered? Have been looking in ocassionally, but looked as if it would be a long time yet before anything would happen. Thankfully "Sterling" still own a sizeable chunk. If it was now only mostly small investors here, then we would probably be shafted. But I think we are more likely to see reasonably fair value now. But what is fair for all our bits??! :) Onwards and upwards!