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EarlOfAim - thank you very much.
I don't quite get why you think I'm especially positive though.
I must say that I'm not a fan of when you bombard the board with "what ifs" either. However, I must admit that I've been around these boards and seen similar posters long enough to know that asking you to please slow down is unlikely to make a difference. And I've witnessed far worse posters and disrupters than you anyway.
Needless to say, I ultimately wish you the best of luck with this and your other investments and trades.
Respect to you for not taking personally my last comment - I hadn’t even paid attention to who was the author of the last post before mine when I wrote mine.
Especially taking into account the often puerile attitude of posters on LSE.co.uk.
Sorry but people complaining about the lack of contract updates is a display of incompetence.
The interviewee from Zenova said explicitly an update was expected 6-8 in weeks (minimum, IIRC) from his interview date (22 March) available on YouTube.
https://m.youtube.com/watch?v=xqbw_S1Q53M
It’s only been about 4 weeks.
Or maybe somebody who has been following this share for years, knows it’s priced just above cash in the bank with no material debts, saw the solid last set of results and noticed the clear hammer at the bottom of a short-term downtrend. Just as wildfire season is (unfortunately) starting again.
I wouldn't read too much into that video and what is just a "brand refresh" (to use ITM's own words).
ITM is not a mass consumer business but a heavy industrial B2B one, which is driven by sales rather than marketing. This type of video is more seen by investors than actual customers. And it largely reiterates what it has claimed to have been doing over the past 12-18 months.
Simply because the board (or at least some the main shareholders) are asking for way much more than Elliott, and maybe JD.com, are prepared to pay. In which case it would be time to move on for both.
None of us knows even knows whether it was just a semi-punt from JD.com and it may not even have spent any time on the matter, especially after the response to Elliott.
Source:
https://www.thetakeoverpanel.org.uk/wp-content/uploads/2008/11/code.pdf
Swanley - your partial quoting is (presumably accidentally) misleading. You are missing this key paragraph at the end of both Rules 2.7 and 2.8:
“Failure to comply with this Rule may lead to the period of six months referred to above being extended.”
That means that JD.com is not FORCED to say it is walking away if it’s not interested anymore. If it remains silent, it may be only be penalised by possibly having to wait for longer than 6 months to make a formal bid. Not much of a punishment, wouldn’t you say?…
It also now looks unlikely that JD.com will buy Curry’s: the latter was explicit about how much money it wanted, and it refused to give full access to the data room to whomever did not provide an offer of that scale according to the suitor who walked away. So it makes unlikely for anyone to be officially open to splash out at the level requested, especially as it’s much higher than £67 per share.
Good luck to all holders nonetheless.