Member Info for paul30661

RNS this morning that results pushed back from this week to 1st April (claiming due to lockdown working).
They were already later than last year.
Perhaps genuine, but is there a bid, or a black hole ?

The board surely does not have the right to determine at what level a tabled offer must be disclosed to the owners of the business i.e. shareholders ?
If the SP was at 100p and a bid is put forward at 170p (we still don't know if it was or not) you might think it is opportunistic but perhaps more so it highlights the ineptitude of the BOD.
If they feel that it wasn't worth disclosing because they felt it too low, then they should issue a statement saying why they feel it is too low, not just radio silence.

My view is this is a binary bet /recovery play - so long as the present incumbents don't crash the firm or go on some buying frenzy, then either they're going to be able to make some money (unlikely given their track record) or someone else - an activist investor or a takeover, will come forward and put them out of their /our misery.
I posted in early Jan that this has to be a prime bid target for 2021, given that the SP was on the floor, the business sector is fundamentally sound and plus there is a lot of private equity /borrowed money looking to invest in these types of assets /opportunities.
Timing wise, I don't believe that EQN will be around at the end of year and if it is, I don't believe it will be priced lower than this.
Those may be famous last words, but at least with the rest of the market gone to poo, I don't (today) feel as if I'm missing out from being invested anywhere else.

To be up on a market down day like today, it suggests that something is keeping people on board (though I guess if you sold, what else would you put the money into at the moment).
Although I'm currently slightly down on my cost here, when I went balls deep a few weeks ago, I used funds released from FRES and IMB so currently am better off here than if I were still there!

The annual results are scheduled for 11th March so, assuming the BOD remember to get up /turn up that day, then presumably they will have to justify their position at that stage, if not before?
If they shoot the lights out (unlikely with this lot) then great. Otherwise, this is likely to be their last chance at presenting the results as someone else will doing the job for them next year.

++++ dont forget the government own part of us ++++
ummm, I might be wrong but didn't the Gov. sell the last of their stake in Lloyds in May 2017 ?

Possibly the BOD understood that if they didn't take these steps, a larger fish or private equity would have done it for them and put them out of a job?

From the EQN website; 'Our people and platforms engage customers with investments'
umm, no you don't - I'm still waiting to hear from you what is going on.

Perhaps Josh works for the SFO and he's desperately trying to justify his last 4 years work, but alas missing the point that the world moves on (and that the SFO is a complete joke) ?

It's taken the SFO c. 4 years to get to this stage, and you're expecting an announcement from them on the same day as the hearing ? lol

thank you bhargav, appreciated.

If the potential of OMI is that great, to purchase it outright would be peanuts (relatively speaking) for Newmont, so why have they not done it ?
Maybe a rookie question, but perhaps someone can please advise?
thanks

I can't imagine that MGM would have pulled the plug at this stage if they thought that the ENT trading update due on Thursday was going to be bad?
They knew that when yet another bullish GVC /ENT trading update is delivered, their target would have been even further out of reach without them substantially increasing their offer.

I too have been a long term holder here, ever since EK ramped it up several years ago (when the chairman(?) subsequently died, it turned out that EK knew him quite well, so whether it was friendly tipping or insider knowledge who knows....?). In any case, since then OMI which was at 8p-10p has been up to 20p, down to 2p and back up again. Luckily has only been a fairly small wildcard for me so have left if be.
What I've asked before and I still can't seem to find an answer is, if OMI was /is this wonderful opportunity why haven't either of the miners now involved, or anyone else for that matter, taken it out when it was dirt cheap?
And why would they wait now if all of the future news were going to be positive ?
It doesn't seem logical to me.

So my understanding from a brief shimmy through the prospectus is that PI's have a right (but not the obligation) to purchase up to 5 new shares @ 12p each for each 9 shares that you owned on the record date (close of business on 9th Sept).
Oh, and it looks like no dividend until at least 2023.

The SP will inevitably be green tomorrow morning to sucker in a few investors (just like it did the last time when rumours of a potential spin off /sale of Openreach were 'leaked')
Rampers on this board claiming this is anything other than weekend press gossip are not doing any favours to those investors looking to 'put orders in at 8am' lest they miss the boat
IMO any uptick in SP won't last and once the buyers are exhausted in the coming days or weeks the SP will drift lower again to at least Fridays level possibly below.
Yes, BT is a buy at these levels, but it is a buy and hold for recovery over the next 2-3 years not 2-3 days!

The stake is peanuts to the Saudi fund - they are just betting (as we all are) that BT will outperform leaving the money in a UK index tracker.
If you are looking to diversify investments away from oil to a sizeable blue chip in a relatively politically and economically stable country then BT ticks a lot of boxes.
Chances are though that this sovereign fund and others like it have been buying all sorts of stakes in relatively undervalued UK and European stocks - it's just that for some reason the unconfirmed rumour about a possible stake in BT has leaked.... ?

I think people's 'new normal' incl. job uncertainty and wanting to save more, will mean that people will be less inclined to upgrade to the latest handset every 2 years, but they will still want a call, text and data package. I would think a recession is more likely to impact on hardware makers rather than carriers.
In addition (and obviously a UK perspective only) I've been on Vodafone home broadband for more than a year. It's just as fast and reliable as when I was with BT but is half the price (including line rental). If households are looking to save money I can see many more choosing to leave the overpriced BT offering.

Perhaps BT could / should merge with ITV to counter other mergers and competition ?

'there could be further downward revision to guidance this year'
Of course - this is Fres after all.
I think they have downward revisions on a cut and paste for every announcement!