Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
10 comments on this board since takeover RNS released. Shows how overlooked this business is doesn't it!? There's not much margin left to play with, but there's always a chance the buyout price it could go a little higher (doubt it given NRS stated a price though).
Yes, the directors sold 30% directly to DBay for 150p not so long ago, so they knew exactly what they were getting themselves in for - they will have known DBay wanted the whole company given previous history. I just thought for the remaining shares, they would hold out for a lot more than 150p, but no, the directors are just looking after themselves and obviously want a quick exit. I don't think given the shareholder register anything can be done to veto this, or try and raise the price, unless the directors want more.
I guess DBay are just offering for the company - the BoD don't have to accept. The fact they are entertaining it, shows they are the actual destroyers of shareholder value. This was at about £2 not too long ago, so this is a low ball offer, given the VW cases and the increase in staff to settle the backlog of cases. If prospects looked bleak I could understand it, but if accepted this is for an easy way out for Alan sellers into retirement, not for shareholder benefit.
This company appeared on my very stringent stock screener a few weeks ago, which very few shares do each year. It shows it has strong fundamentals, and the bonus is a very high dividend. Sitting on the side-lines for the last few weeks was a mistake, as it has risen around 30 since! Took a nibble a short while ago, and look forward to holding.
Lolz ?? you can only laugh!
Kicking myself here. Held for over 2 long boring years and sold at a 5% gain 4 weeks ago at 42p. Debt was rising and management not progressing the business, so I lost confidence. A buyout was likely the only way forward for shareholders but I’m surprised it was at such a premium. Well done to all who kept holding.
Anyone have a summary of the article? There’s still nothing in the mainstream news, and anexo themselves don’t appear to think it is worthy of a response (or are hiding). You’d think if it was something major then it would have fallen far more than 15% over the last 2 days particularly with how illiquid these are. Would be nice to know a little more though.
I can't find anything in the news about this supposed bear dossier. What are Anexo alleged to have done?
DBay only agreed to buy out a third of the company a few weeks ago, so I'd be surprised if it was anything major, as I'm sure they would have uncovered or been made aware of it in their due diligence. Any insight welcome.
In the current climate, average savings must have gone through the roof for those who have been unaffected by furloughing and redundancy (those using financial advisers are probably on the whole largely unaffected). The average Joe has excess money at the end of each month that he has probably never had before and is investing it. I am a member of a few forums, totally unrelated to finance, and everyone is investing, particularly during the strong recovery. The brokers are also reporting record revenues. However, AFH fees appear to be flat-lining which is quite surprising. The reasons for this are not explained. Are AFH portfolios generally very UK biased, and it has seen it's clients pots shrink over the last year, hence lower fees? Any ideas anyone?
Looks like the director is looking for a way out over the next few years. DBay are known as activist shareholders and for hostile takeovers so probably not the kind of shareholder you want on your books as an owner director. Taking a 29% in one fell swoop will leave them just 1% short of having to table a mandatory bid for the entire company at 150p within the next year. At least the directors managed to agree a premium over the current share price for this, and that they are prevented from selling any more shares in the near term.
Yes, pretty sure I read it when soa was first announced. Brushed over it assuming it was nothing but maybe not.
For better or worse, I've sold out. Not happy with the price, but Mastercard and WJA knew about the claim when agreeing the 8p takeover price, so they must be a little worried about it to delay the takeover. Maybe this is why WJA have accepted a derisory offer in the first place. It probably all work out, but I can't bear to see the shar price back under 5p if it gets cancelled.
Good luck holders.
No RNS came. Just the one this morning, with news that a claim has been raised against them, and that Mastercard have asked for an extension to the scheme. Question is, will Mastercard screw WJA further on price, or will they investigate themselves to rule out the risk of a successful claim. Not good for the share price either way.
Out of hours RNS to confirm bid price?
The SCSW article was a little grating to read. The writer claims that the bid is a bit cheeky, and that shareholders should vote against the takeover, however he has sold and is happy with a 60% gain over his latest tip price.
What he fails to mention is that he's been tipping these for nearly 3 years starting at 12p and following it all the way down to 5p, so only those that got in within the last few months saw a decent return really.
He usually ends such articles with gain for readers since first tip was say 300%, but I suspect on this occasion he will conveniently skip this tradition since it will be a negative figure.
Profit down: Is this not down to the delay of 3 key cases into next years results? They are still small so a small number of cases moving into next years result makes the figures look lumpy until a decent size achieved. Not ideal for investors, but they probably have little control over this.
Cash outflow: The $28m includes $35m 'Increase in contract costs - litigation contracts'. Is this not litigation funding itself?
I'm no expert, but to me it looks like this was a year of business growth and investment. Profit will look lumpy until those investments come to fruition. The next year will be a big year for LCM.
Surprised the price hasn't closed up to 7.80 ish. Still 5% to be made up to the offer price of 8p and should be resolved in a few months. The risk is that independent valuation comes back higher than 8p and MasterCard pull out dropping the share price, but on the flip side the bid could increase. If the share price drops a little more with bored sellers, I think its worth a top-up.
All I can think is that the market expected better overall. Generally everything seems to be in line with targets, but these targets were set before COVID, and with the huge increase in home working and the inevitable increase in home streaming during lockdown and beyond, you would have expected management to come out with revised expectations like many other tech firms have. Either they will do so at the next update, or the original projections were overly ambitious.
I think the share price will come good though, just have to be patient. The next update will need to show an increase in subscribers, and no drop in retention, given the worry from many users about PIA being acquired by Kape.