Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
The consortium and DK are savy but DK have not increased their shareholders to over 22.9% to walk away now if 35p has not received the required 75%. Still awaiting the rns.
No idea but had expected it by now. When Aston Martin held a special meeting in early December meeting was 09:30 and the results RNS was published before 10:00. Not sure if delay is good news or not. Hoping discussing a higher offer price. Cannot see DK or the two consortium members walking now. Just a question of how much additional required to get them to 75%.
Relevant meetings are 11:00 and 11:15 today. Was hoping for an RNS by now saying there was an improved offer and they had further letters of support (as per Texas RNS). Think Jamesbond is right that this is a done deal in terms of the buyer given amount of purchases DK have made. Just a question of what price per share the shareholders receive.
Amran - if you are who I think you are: glad your perseverance here is starting to pay off; what are your thoughts and predictions on the AA; and thank you for your helpful AA posts elsewhere.
All - apologies for using your board for a non LOGP shares.
Happy days if true James. Should lead to an increased offer price to get them over the line.
Vote is Thursday but brokers like HL require their shareholders votes by midday today. I am concerned the RNS of mid December was misleading and not all PIs will be able to vote or cast legitimate votes. Think unfortunately it is now a done deal after University of Texas’ support in this mornings second RNS.
Agree with Carpymick. Look at the big picture and remember current price of 1794p is almost 90p in old money. For the vast majority of second half of 2020 we could only have wished for such a price. We are still well above the 1360 we opened at on first day of consolidation. Pieces on bbc and sky yesterday also highlighted Stroll’s ambition.
RNS landed, just not the Wood Group one - https://www.londonstockexchange.com/news-article/EQT/nobilis-of-greece-mou-growing-ewergy-partnership/14819073. Hopefully yesterday’s drop was the MM playing games in advance of the RNS.
Thank you BillyRayLouis. Citigroup’s significant upgrade a very positive step. Be interesting what other brokers notes say about AML going forward. Particularly interested in Deutsche Bank as they are one of the three banks who took the 83 million institutional placing shares. No one has a crystal ball regarding the share price but Citigroup’s upgrade a very positive sign.
T630 - 75% needed.
Kamm_25 - you brokers will tell you the deadline. Think HL deadline is 11 January.
Iangreen46 asks a very good question that I have been pondering. Share price on upward trajectory. No best and final offer by consortium. But DK keen on hoovering up shares at 34p. Also third parties buying at that price. Ultimately will be decided by the consortium and the largest x shareholders as consortium know need 75% of votes casted. Not sure if UTIMCO, Boeing etc will vote yes or no and if them, not ABC, voting is a good or bad thing for us PIs. Assume Cleveland will be a no. Sold third of my shares a month ago, voted no and will hold now come what may. Hoping for (but not hopeful of) a revised offer.
But the spread needs to be factored in as well. All very good showing a 9.5p buy price with a 17% increase on day but if HL showing sell price of 8.5p and dummy sell of 8.7p then the buy price is misleading. Perhaps wide spread means MMs do not want you selling at the moment. Academic for me as not selling yet.
Agree with madgpol. ABC were holding on behalf of UTIMCO, Boeing pension fund etc. Need to hope UTIMCO and Cleveland Square vote no or can extract a higher bid from the consortium.
Finally received my voting instructions from HL this morning. Voted no (1) because of AA investor relations and HL’s dealings since they advised in the RNS the Scheme Document and voting forms were sent to all shareholders on 17 December and (2) price too low. Fingers crossed for a higher bid but am not hopeful. GLA.
Glad to hear some people have heard from HL. I still have not heard. Bit of a disgrace given the RNS said the AA posted the scheme document and voting forms to all shareholders on 17 December 2020.
Time will tell. A few basic points:
1) today (other than the 1st 20-25 minutes) was disappointing given the FTSE ended up 1.69%. However, it may be a blip. Think back to Friday December 11, last day before consolidation. Sharp unexpected dip with close of play at levels a number of posters had dismissed at start of that week then plain sailing upwards afterwards. We opened at 1360p on 14 December so sharp increase in three weeks even after todays big drop;
2) lockdown may bring a pickup in the share price. Look at what happened after 1st two lockdowns announced. I was suprised that Ftse increased both times. I made mistake of selling IAG shares first day of second lockdown thinking would decrease, but IAG increased even before vaccine news. Sometimes markets like certainty, even if the certainty contains bad news;
3) today may also have been other things eg JP Morgan etc selling off shares bought during last placement, end of a wave. Our drop outweigh perceived covid affected shares like IAG, Rolls Royce, Easyjet. Miss jtmacs with volumes of buys and sells, vwap etc on days like today.
We have more than doubled in price in three months. Also q3 results provisions for a 4 week factory closure. Hold tight and remember why you bought the shares. This share does unexpected things so, in my opinion, big risk selling and hoping to buy in cheaper (learn from my IAG experience from 2nd lockdown).
Fingers crossed for your portfolio rox. I am still hoping the AA bid gets increased but am not hopeful. Also do not think get a vote in it which rubs further salt into the wound, although 35p is still a good return. Always loved reading your and Dimis posts on AML and other shares. Good luck and have a great 2021.
Thank you Synxs for all your informative posts. Fingers crossed for your hydrogen investments. I have small holdings in EQT and PHE. Toying putting more in but worried the current spikes may be akin to AMLs rise to high 80s in early June. I like EQT in particular. Amazing what a Biden win and vaccine news (combined with relevant RNSs) has done for those companies. Happy new year to you and your family.
Luis - I need to correct my earlier post. On re-reading the article the relevant sentence is “And Aston’s battered share price — which at 52.8p sits below its recent 62p a share fundraising — will be “£6, £7 or £9 over the next five years”, Stroll proclaims”. So he is talking about £120 per share minimum. Investor relations said it was not a target but Lawrence indicating the mcap did not reflect Aston’s value.
Luis - I do not feel you are incorrect when stating
“£100 per share is quite ambitious target”. However, that was the minimum share price Stroll mentioned in the Times article. Share is like a dream at the moment.
Robglfc - you may have a chuckle at this and one of my mates said I had gone mad but rather than the holy trinity of Shankly, Paisley, Fagan and Dalglish, we may have Biden, vaccine, Brexit deal and possibly AML’s three key guys. What a difference under two months makes. Share price almost doubled in 9 weeks.