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There are reasons to celebrate but yet another UK logistics company is about to be taken out relatively cheaply. Now we know why the promised share buyback did not commence as it would have made the takeover that management were discussing look less attractive as the share price following the buyback would have been higher due to the low liquidity. After clawing back the pension fund deficit last year I feel management could have held out for a higher offer as Wincanton is now a much more desirable proposition.
I suspect it is part xd date and part AGM tomorrow anticipating some positive news with an AGM trading statement perhaps? - as the last few statements have been positive. We will learn more in the morning.
Apologies Numb - you are correct the dividend of 13.8p being last year's final was paid on 14/9 as you indicated.
This just shows how the statement could have been improved to provide greater clarity to investors which should not undermine the sentiments that BAe does seem to have been overlooked. The final dividend of 13.8p was not paid on 24/9 last year but was postponed is my reading of events and as a lth can confirm this to be the case. What you will receive on 1/6 is the postponed div of 13.8p plus the 14.3p being this year's final so in total 28.1p which still equates to a not too shabby 5.5% . The interim dividend of 9.4p was paid on 30/11 as detailed above.
Until the details of what is on offer we don't know whether it is good or not......other than it must be higher and/or have a cash element. The trouble is as small shareholders we do not really have much say in the matter and if a 'scheme of arrangement ' is used to effect the takeover you cannot even be left as a minority dissenting shareholder. I have been in this company now for over 20 years through various family members experiencing highs and lows and it would be sad to see yet another part of the portfolio succumb to short term gains. Let us wait and see if a realistic offer emerges over the next 3 weeks otherwise the interims on 13 November should show an improving trend given the AGM comments.
Agree Rivaldo the share price should be at current levels without the interference of Consort Medical. Perhaps their advisors will encourage them to make a realistic offer for Carclo or hopefully they will walk away and let the new management team deliver the inherent value to shareholders rather than an opportunistic bidder.
Glad to see that the board have dismissed the offer which I agree is far too low. That is an issue for smaller companies when the share are forced to low levels and offering company can seek to acquire with a seemingly healthy premium to a share that has been shorted. At least today's news may reawaken interest in Carclo - dyor.
I usually view these boards from afar hence my first post on this board but I have to agree with others that trades at 6.33 would appear to be buys so the price is still falling. I have just topped up my position at 6.33 no doubt that will also show as a sell.