Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
No mention of scrapping bonuses or salary cuts, all staff still on full pay.
The Offer will remain open for acceptance, subject to the provisions of Appendix 1 of this Announcement and the terms of the Offer Document, until 1.00 p.m. on the 21st day after the date of publication of the Offer Document or (if that day is a Saturday, Sunday or a public holiday) on the next succeeding Business Day.
The Offer Document and the Form of Acceptance will be posted to Redx Shareholders as soon as reasonably practicable and, in any event, within 28 days after the date of this Announcement, other than to Redx Shareholders resident in any Restricted Jurisdiction
Got a message the other day, in my AJ Bell inbox.
Redx Pharma has received a takeover offer from RM Special Holdings 3, LLC, a special purpose vehicle wholly owned by funds managed by Redmile Group,LLC, to purchase all of the shares in issue. It is expected that you will be given the opportunity to accept the offer for your shares and to sell them to the acquiring company.
The terms of the offer are as follows:
For each ordinary share of GBP 0.01 in Redx Pharma
-
GBP0.155 in cash
Company looks in good order, looking at the video, plus the introduction of a dividend soon.
https://tinyurl.com/y6q4x8pw
Disappointing to see this drifting over the last 4 weeks, cant see any reasons than bored investors moving on.
Good to see that WHR, wouldn't overpay. and with a extremely large Divi next year, and with operating in a big growth market, these are certainly long-term winner.
Lots of big buys / sells on the last trading day, interesting times ahead.
Shares Gone EX-Divi today 4.4p
Peel Hunt today reaffirms its buy investment rating on John Laing Group Plc (LON:JLG) and raised its price target to 400p (from 355p).
Looks like Simon Thompson comments have kick started these.
There has been a bout of profit taking at Middlesbrough-based Ramsdens (RFX:158p), a diversified financial services company, after three directors sold 3 per cent of the share capital. However, they still have decent holdings including chief executive Peter Kenyon who retains a 3.5 per cent stake.
To put the valuation into perspective, strip out Ramsdens’ net funds of 41p a share and it is being valued on seven times historic earnings per share. The final payout of 4.4p a share has yet to go ex-dividend, too. Add that to a 7.1p a share likely payout for the current financial year and you can expect a 7.3 per cent return in the next 13 months from dividends alone.
Sterling weakness is worth considering. It has been on the slide since April. That’s good news for Ramsdens’ highly competitive foreign currency arm, which accounts for 40 per cent of gross profit. True, a higher level of UK staycations could dampen demand, but given the customer base’s northern bias, and the fact that the heatwave didn’t really start until mid-June, so well after when most holiday bookings are made, I don’t think this is a major factor. Also, the 4 per cent drop in the sterling gold price since mid-June is hardly going to dampen demand for pawnbroking services, a quarter of gross profits.
So, having suggested buying at 132p ('A jewel in the north', 12 Jun 2017) and remained positive at the annual results ('Ramsdens upgrades yet again', 11 Jun 2018), I see a repeat buying opportunity in the oversold shares. Buy.