Member Info for jedclampit

I agree there will not be enough shares to go round, this deal will be done and over subsribed in 1 day. Sir Roger will buy up the rest in one go up to a Maxium of 15p and with his family already owning 5% they will end up with 25% no trouble. But Hey that might a be good thing and drive the company forward fast.

In the last six months the Group has:
· Strengthened its financial position by completing key non-core disposals, ensuring sufficient available liquidity to fund the travel business through a period of severe disruption and further implementing initiatives to reduce future run rate costs by £20m per annum;
Completed an in-depth strategy review, with conclusions and reshaped plans to be published alongside the interim results and launch of the Proposed Equity Raise on or around 10 September:
o The management team has reviewed every facet of Saga's strategy
o The revised strategy will be based on management's belief that Saga is a strong brand with significant potential and that it is successful where it offers truly differentiated products and services
o Plans will be set out to correct the under-investment in brand, data and digital and to continue to drive efficiencies and organisational and cultural change designed to make Saga more customer focused
· Recent trading has been in line with expectations and consistent with the commentary in the AGM trading statement, published on 22 June 2020.
So it doesn't look like the company was running short of cash and all looked in control.
So maybe all this £150m raise was to just stop any other bids at silly prices, but it sounds like the results next week should be good.

Although the bidders have now been given to the end of Sept as a new deadline the fact that they are now doing due diligence means that they don't have to wait until that date and could put in a bid at any time if they want to go ahead.

I think this may all depend on what your buy in price is, say yuor sitting on an ave of 50p -£1 after being invested for years and the offer is only 1,000 x 15p shares on a % of what you hold then you might be better off just buying now at 17p-18p if you think the sp over the next 3-6 months is going back up. But I think it's fair to say that when announced and if the money raised is all / most going to be used to pay down debt then the sp will go up as everyone will know saga is not going bust. we only have a week to wait.

Interesting post, but what's your point as pi's all we can do is research at the time and go with what we think is going to make us money.
Things / markets change and as so companies sp's go up or down. How ofton does a pandemic come along and how many companies plan for one. If we all new Saga was going to be hit by one and how bad we would have all sold months ago, and some companies have gone bust.
Now look on the bright side, ok shares are down and so is cash from travel but the company is NOT going bust infact a white knight and not just any old knight it's the one person that knows the business inside out is buying into Saga with £100m. So with luck debt should be reduced , a new plan will go forward and with luck sp will also go up over the next few months. So like everyone else you can either sell or hold depending what your views are. and that's all we can do. Good luck either way.

Strange isn't it that the day ITV possibly goes out of the ftse 100 the shares go up.

JPMorgan sold 61,710 shares and bought 782,827, so still topping up by the look of things.

I guess a number of bidders could get together and win a takeover, but I cannot see that happening here at 40p it would just get turned down outright.
First the rns says talks are going ahead with each bidder and they are moving to the next stage of due diligence etc which normally take a few months after a bid has been put inbut it looks like we are moving to the next stage now so some most be happy of sorts.
Second I guess they could all get together and bid maybe 60p+ - 80p which might be what the AA. board are looking for we don't know, but if they won that bid I guess they could divi AA up the way they wanted they would have a free hand.

How can you say that, I could understand that if the bidders have pulled out but they haven't so it's the reverse .
All bidders ( each of them )are still in talks and doing due diligence so you can assume they must be offering a price that's in the bod's guidlines could be 60p ish so still all to play for.
I can understand you being negative to drive down the sp just like others are more positive to help push up the sp. why do we do it even though we all know it make NO difference what we say it just makes us feel better for saying it. views are views.

Well he is buying 20% of Saga and it's not a takeover so the current shareholders have more of a say, where as if it was sold for 33p the current shareholders (well the pi's ) wouldn't get any say. Everyone knows that Sir Roger who knows this business inside out thinks this is worth a lot more than 33p a share otherwsie why would he even bother to invest £100m.
Let's look 3-6 months down the line and many/ most I guess would see this in a better shae and worth a lot more but that's and Sir Roger will get a good return, only my view.

I can understand the bod's not posting the pre close info before the first deadline of 1st Sept incase it will alter any possible bid ( results being good or bad ), but now if they do go ahead and post the HYR before the new deadline what will that do.
Were/ are they holding back good news or bad news?

I f Sir Roger comes in with his £100m + £50m and that clears most of the short term debt then the sp will rise to what maybe 40p- 50p in 3 months and he could then put in a higher takeover deal for 70p. Now that would be better than any 33p bid for someone else to take the profits.
He must know the true value of Saga now and what it will be in a few months and it's got to be more like 70p.

Yes how can they do that we all know it should be at least 48p.
Still the American markets all finished on a high so with a bit of luck we could see the ftse up 100 points today and AA. up 4-5p

I like this bit. Discussions ( with each ) of the Potential Offerors have continued to progress and their due diligence is on-going.
All still interested.

But we are not talking about divi's we are talking about rights. anyway I did say normally stop just being picky

Once a number of investor / day traders can see the game is still afoot and the bid might well be much higher than 40p then they will all pile back in.
We must expect a few p drop in share price which is down due to the ftse drop today, but that will / is coming back.

I think you may be confused and talking about divi's.
when a share is trading say at 30p and the divi gets paid on that day of say 2p the sp will drop by that amount but normally come back up in the next few days.

When the press first broke this news about 4 weeks ago it mentioned 40p ish and since then the bidders have all been involved in talks etc, so maybe the bod's have said we are not interested in 40p but would consider something like 60p+ and that's what they are now working out. But still great news that no one has pulled out, and normally bidding companies put in a bid for a company and then do the due dill work, but they are doing that now. That all costs money for accountants and time so they wouldn't be going forward if they were not still very interested at 40p+. This will pan out ok in a few weeks with the good results.

I take it you are going to share this large pay back !

A lot of this drop is down to the ftse being down over 100 points, it will come back after a little panic