Member Info for Lukee

Total voting rights going below 250 million after today's buybacks most likely. Looking at £160m at 125p a share for majority control, with insiders like Kestrel and others keep there holdings. Total steal.

Happy I bought at 90p, but many most likely bought higher.

Have a great weekend all.

Cheers ifsixwasnine, I thought I checked the website more often than I actually do :)

On TIG's website, on the Investor section, these now a "TIG offer" drawdown on it. Not sure how long it's been there, but strange to add it if it's just going to be deleted again.

Yeah it's a real shame we can't be a fly on the wall with such discussions! I'm sure Kestrel, Horst Siffrin and maybe Slaters are discussing too, as together they own around 50%.

Strange 2024 update, it isn't the full detailed results, yet as expected. Guess they had to release the basics.

Interesting, we have an extension!

And full year results. What a busy day :)

I can't see any extension happening, unless we see a 3rd party get involved, but even then would expect them to make a formal offer. We already have been told via the RNS a month ago it was a fully cash offer with an option to keep shares, this was also according to the RNS not the first approach.

"The two proposals follow earlier approaches from each of the respective offerors, both of which were rejected by the Board as undervaluing the Company and its future prospects."

It is surprising it's coming down to the last day! Especially with how fast TowerBrook jumped.

The terms of the buyback are for the broker to have full independence, unless announced. Yesterday's buyback was right on the maximum 25% of volume.

I really can't see why any buyer for TIG would want it to stop either, buying shares below 125p every day it makes the deal even cheaper. We still haven't received a firm offer too, they wouldn't be able to demand anything.

These a lot that keep many companies on there radar tbf. It's hard to keep up with everything Bostonboy. Have a great weekend all.

Definitely too cheap! Interesting if another party also comes in with Kestrel (owns nearly 30%, CEO is a board member of TIG) took IQGeo private with 48.1x it's EBITDA. Bit of apples and pears, but just shows the undervalution of TIG!

We are also waiting for information on Verdane offer, Morbox. It was Verdane & TowerBrook. Annoying the wait, but great to see the buybacks doing well with the current volume.

Well that's answered a question I had. They can buyback during this period (of course when within 105% average). Plenty of volume for the buyback too! Happy days.

Ursupator, I understand that. Which is why I said it was annoying that buybacks can't happen.

I also can't see any information with regards to buybacks during takeover period. My guess would be that they would be stopped during such as with Form 8.3 announcements would become outdated after every buyback.

Annoying can't have buybacks during this time, plenty of volume for such today :)

Well it seems Kestrel isn't involved then, at least with TowerBrook.

The most interesting part is that they had initial approaches that were dismissed by the board... The TIG board, which includes Kestrel's CEO.

Kinda shows it doesn't involve Kestrel, at least at the initial approach and this low ball offer is nothing like IQGeo which was sold at 48 times it's EBITDA.

With IQGeo, Kestrel and KKR planned it all extremely well with Kestrel and other insiders supporting the takeover straight away. They had over 55% of insiders/institutional investors agree to vote in favour from the start which annoyed many other institutional investors holding. (also the sale of Gresham Technologies.)

Both offers seems totally different and behind Kestrel's back for now. Kestrel and other board members/family own just under 50% currently. Would expect any Kestrel backed offer to include the backing from such holders. Maybe they do and we'll find out soon :)

Great it's now public, could force moves from other funds that have been sitting on the sidelines for years that see 125p as a low ball.

Interesting this is for the entire company. Most likely Kestrel isn't involved and won't be impressed. With this announced could see others make offers.

Thanks Dartron. Was a strange one today! Sell of 10 shares at 78p, some games played. Was looking at the insider holdings yesterday, very close to 50%. Plus Slater Investments and FIL Investment International, it's over 60% now.

Does make me think of similar situation as IQGeo Group PLC with KKR, especially at the current price. Sold at 48x its adjusted EBITDA lol (I know Apple and Pears but still!).

Happy New Year all!

6,579,670 total bought back since 9th September RNS announcing buyback by my maths

13,048,000 total buyback. 6,468,330 remaining, just past halfway!

Is the amount of shares/ total price adding up correctly Dartron? The amount should be a fair bit less than a million £ if a million shares are bought as they are buying below £1 a share.