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As Fergusson would say "It's squeaky bum time"!
A disappointing outcome. I had hoped we would have had a bidding war, but it has all ended in a damp squib.
PDG has always had the ability to disappoint and even at the bitter end it still delivers.
Lets hope Pinewood is warmly received by the market, so what we "lost" in the bidding war, we gain on the SP of Pinewood.
I note Berman gets a nice payday! Assuming it goes through of course.
Again from memory, I am sure I read in The Times that Zeus Capital had valued Pinewood ALONE at £400M.
I'm not sure the vote is tomorrow, thought it was the 6th?
40p must be on the cards and then I can recover sanity after 18 years of hell!
I have been a long suffering shareholder in PDG for many years. My original holding was bought at 80 p OUCH! And even after a profit warning! I recall the shares as low as 2p (credit crunch time I think) and nearly phoned PDG to see if they were going bust. Like David, I have enjoyed limited successes, but many disappointments. Only by averaging down over the years have I managed to stick with this share. Incidentely, does Berman hold any shares?
My understanding is that we will receive a cash dividend of 16.5 pence per share (more or less the price pre bid) and then own shares in Pinewood, value to be determined.
Whilst I think this is not a bad outcome and allows Pinewood to perhaps push on price wise in a sector more attractive than flogging cars, I would be surprised if Hedin don't show there hand, after all Trevor Finn, despite making appalling judgements, does at least know the value of this business.
From memory, the SP went to around 1pence. I recall telephoning HO to ask if firm was going bust. Trevor Finn has been at the helm for many years. Whilst he cannot control external events, if he was a Football Manager he would have gone years ago. Worry is the near future, confidence in this share shattered. As I have said many times, best taken over and broken up. MC �300M. Chicken feed to Inchcape or a Hedge Fund.
My previous post sadly has come true. Terrible share - continued downside. Probably will wait and see if it goes to 20p. Stalin - do enjoy your retirement. Sadly this share is a big part of my retirement or at least was!
Good Luck Stalin, you are going to need it! Heading lower this morning. Will be buying around mid twenties.
At least it provided ME with something to read, as I appear to be the last person on this Board with any interest in this share!!
At least it provided ME with something to read, as I appear to be the last person on this Board with any interest in this share!!
At least it provided ME with something to read, as I appear to be the last person on this Board with any interest in this share!!
SP well below 30p and regularly a faller. Difficult to determine the long term situation following Volvo news. Will people now want to exchange diesel for hybrid? Short term outlook not good: FCA looking closely at car finance deals and customers deferring buying due to so many different factors, now including the above. Really needs a consolidating takeover amongst the listed car retailers. Pendragon must be looking vulnerable with a MC of just over £400m. Any thoughts anyone?
Agreed. Dreadful investment for me. Only thing propping up SP is div yield. As we have enjoyed good times recently in the car sales marketplace, I fear the outlook is not promising for PDG. Share buyback has done nothing and with Mr Finn refusing to look at takeover situations "because they are overvalued", the SP is stuck in a rut.
Near 31pence and MCap below £450M. Must be a bargain. Inchcape could buy out of petty cash! But over 5% down today. As Claude says, maybe market taken fright with Mr Finn sale. Although buys outnumber sales, this is no guide. Will be a buyer below 30p.
This share never fails to disappoint. 39p a few days ago.
More chance of 5pence by the end of the year.
Gentlemen I am a long-suffering NOP shareholder having bought my first holding at 48P Given your disgruntlement with the Director Salaries AND I AM NOT GIVING AN OPINION HERE, may I recommend that one of you e-mails Keith Bush for his response? I know from many previous discussions, he is openly accessible and rather than fester on this point and dare I say potentially make false comments, it would seem sensible to simply put your concerns to him. I am sure he would respond and quantify the reasoning.
Rally here. Let's hope year end figures are good and we get some upward movement once announced. GLA.
Strange I agree. Limited trading as is often the case. However pleased Ask price has come down as wanted to do some toping up. I believe NOP has survived the trauma's of the oil market and its "relocation" to Canada has so far proven correct. Limited downside surely?
Again far more buyers than sellers, but price barely moves. Capable of sharp movements down but no upside foreseeable. Admittedly "buyers" may not be correct and share buyback working daily. Is this now going to coast along at this level during winter months?