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Well, I'd take from that they don't know what they're talking about... look at the debt on Kingfisher's next accounts. They'll have tenfold the leases that Wickes do at least and they're running at EPS of 28.7p and trading at c.£7bn.
Come the next results, Wickes will be trading at c.25p and be trading at c.0.6-7bn. It's an incredible disparity in valuation.
But, as I said in the past and earlier today, true value will always reveal itself.
The only sham is the share price. But it finally appears to be bleeping on the radar and I sincerely hope it strikes through three quid fifty before any potential bid situation.
Amazing it hasn't been snapped up already.
Good post Culpo, and what a pleasant and unexpected Friday that was for Wickes holders.
Long way to go yet, but we keep faith that true value is always realised eventually.
Did anyone expect BATM to rise on good news?
If you did you must be a ****ing fool!!
BATM does not act like a normal share. It's full of sellers and ****s that are beyond the understanding of private investors.
My only hope is that come the next TU, there's going to be the charred bodies of sellers and shorters littered across the stretch of land from Israel, through the EU and right into the heart of England.
I want these ****s burned.
Well, it doesn't appear that the market is impressed with the 0.74 GBP declaration.
But there's a genuine feeling inside that says: **** the market, they're getting this one wrong.
The trades for the last months are full of automatic algobot transactions (which generally is a sign of short action) consistently lowering the price.
I believe at this point they've ceased fiddling with embers and they're now playing with fire.
If BATM had IPO'd a year since it would be a beast, and I think a knowledgeable poster on ADVFN's fair game price of 120 is scraping the bottom of the barrel of the soon to be realised earnings (although, as a LTH, I can understand his conservative valuation given the dreadful historical price action).
I suppose we're in for a long session of the old waiting game.
But come the next TU, I hope, and genuinely believe, there'll be some charred shorting fingers.
Today's scheme document with TU has changed the situation. I'm out. Will keep an interested eye on the outcome of the meeting. If it crashes down to £7 I may well have another look. But for now, cheerio.
Half Year Report - 17 June 2021 - reiterating First Half Update of 17 May 2021:
"The Group continues to plan to achieve exit run-rate underlying cash breakeven within the 2021 financial year and continues to expect financial performance to be in the ranges outlined at the May trading update."
We know, as AG has previously outlined, that the BoD are being bonused on getting this dreadful deal over the line.
But to what lengths are they willing to go? The confidence of break-even by October 21 is there for all to see, not once but twice.
Do we actually think this BoD would sabotage the PLC to achieve this deal? By either ensuring it didn't achieve break even or deliberately giving a pessimistic TU?
For me, the sp direction will be determined by the TU due in c. 4 weeks' time.
As a profitable, stand alone PLC with £170m AR and 98% retained revenue, I don't think it will be two years before the price recovers to well above its current level.
Again, AIMHO.
I might well get a smacked arse but I'm holding nonetheless!
In my view, it's peculiar that an announcement on the date of the vote has not been forthcoming.
Historically, we're due a TU in the next month and, according to the last one, it will be to announce that the Company has made a loss for the year but has finally broken even on a monthly basis, and is therefore expecting its inaugural profit for FY22.
If you were Vista, you would want the vote ahead of this news. Holding the vote after makes it far more likely that your bull**** offer is rejected.
So I believe that the BoD and Vista have spent the last few weeks desperately scrabbling for votes to reach 75% and have thus far failed.
Vista will therefore be considering an increased offer prior to the imminent TU; or walking away.
They must know though, that once this PLC converts to profit, they'll never get it as cheap as this.
AIMHO
Disappointing to see you go, AG, but I can't fault your logic. I'll be holding because when I bought in, I bought in for the long term. I might well get stung but that's investing... you win some, you lose some! Ha!
I'm holding in the hope that Vista have a budget of $2bn and they are willing to pay it if it looks like shareholders will reject.
But that's only going to give a modest profit. Better than a modest loss, mind.
If they did increase to $2bn that would put us on c.£14.90...
With the negative attitude of the board, I've lost hope of anything above that... and it won't have been the board that will have squeezed out the extra value, it will have been the shareholders by rejecting the current scandalous valuation.
Obviously the sp may crash if the deal is rejected and Vista don't increase their offer.
Bleak.
'Short-lived' Haha! Good one.
God knows what they're doing but it seemed high risk to me from the outset. This is due a re-rate up rather than a drop further.
Marble Bar have lowered their short position to 0.45% as at 7 Oct, less than the reporting threshold.
https://www.shorttracker.co.uk/company/GB00BL6C2002/
The Wickes website confirms that the Q3 TU will be released on 27th October: https://www.wickesplc.co.uk/investors/investors-overview/financial-calendar/
Well thank Christ there's some other people out there with sense in their heads.
(Reuters) -Activist investor Coast Capital said on Thursday it was planning to vote against U.S. private equity firm Vista Equity Partners' 1.1 billion pounds ($1.48 billion) bid for software developer Blue Prism Group.
Earlier this week, Blue Prism became the latest British takeover target by a private equity firm, a trend driven by cheap UK valuations following Brexit and the pandemic.
In a letter to the software firm's board, Coast Capital said it would encourage other shareholders to reject Vista's 1,125 pence per share offer, saying the bid undervalues the London-listed firm.
"The proposed transaction leads shareholders to question the board's clear conflict of interest in unanimously supporting a transaction which values the company materially below consensus valuation, 52-week high, and its average price since IPO," Coast Capital, which owns about 3 million Blue Prism shares, said.
Blue Prism, whose customers include automaker Daimler, eBay and Britain's NHS, said on Tuesday it plans to recommend shareholders vote in favour of the Vista bid, calling the terms "fair and reasonable".
Vista and Blue Prism declined to comment.
Blue Prism's shares closed flat on Thursday at 1,150 pence.
It wasn't even last year that Kingdon said that, guru. It was this February.
What a mother****er.
Don't put your faith in the system, pal. The only thing that will let us reach potential here is the shareholders rejecting this 'deal' and the board being ousted.
I'd like to see some ruthless businesspeople at the top of this PLC. Not these ten a penny jokers robbing a living in business class. ******* s. The whole BoD.
It's not the PLC that needs disposing of here, it's the ****ing management.
Imagine taking over a company two years since and ****ing it up to such an extent that you justify a sale against a FOUR YEAR LOW because it gives a c.30% premium on the price when the offer came in (i.e when the bid period started at the end of August).
Embarrassing and pathetic this Board of Directors. And that **** Kingdon, who somehow still got the backing of 65% of shareholders this March, is the most embarrassing and pathetic of the lot.
If this dreadful deal doesn't go through, Kingdon and his ****s need to **** off. Sharpish. They've failed.
Get someone in to cull the overheads and the incredible amount of middle managers and vice presidents in the business (just look at LinkedIn for all the meaningless job titles that exist in the PLC).
Invest in the actual tech that people believe in: the value accruing part of the business.
The BoD under Kingdon have been a ****ing shambles. Not a business head between the ****s.
Peculiar price action on PRSM... it's either folk closing short positions or the market doesn't think that the sale will go through at £11.25.
If the sale doesn't go through (fingers crossed for that), Kingdon and his cronies need to **** off sharpish and let an actual business man or woman have a crack of the whip.
As we head towards the vinegar strokes, I'm afraid to say it's not looking good.
This morning's RNS and every article written about it doesn't leave the door open for a deadline day bid.
I'll be holding just in case, and because 35p doesn't make much difference at this stage.
What a shame Kingdon and his board didn't get ousted in March. Instead of taking his 65% approval rating as a sign of a lack of confidence in himself, he's taken it as a sign of a lack of confidence in the PLC's product.
And he's obviously taken that lack of confidence into his sales negotiation. What a first class ****.
Jason Kingdon has taken a company with a great product and he's ****ed the dog and shat the bed.
Outrageous to suggest that this is the best deal possible for shareholders. ****.