Member Info for Pianista

I totally agree, Tav. Sounds like 33p was a credible offer, and one that many PIs would have jumped at. Rejected by the BOD for being "highly conditional". Conditional on what? The BOD getting the chop?

rupans, I do think it'll get to 33p and beyond, just not straightaway, because many who bought in the low teens, for example, will be happy to cash out at low 20s, thus exerting temporary downward pressure. We'll soon see!

...will, I think, depend on sentiment as much as arithmetic. At the moment, I would plump for 20p, with a further jump to mid 20s given decent interim results on 10 September.

Thanks rupans, but isn't that just a Reuters report? There's nothing on the Saga website.

Per FT: "Saga said in a statement". But no RNS. There will have to be one surely before market opens Tue.

Slownsteady - fair enough, good to be cautious.

But after Alas's latest, I'm starting to become very bullish...

Fascinating (couldn't read the FT article from the link).

But if 33p was offered, and rejected, why shouldn't the SP rise to 33p?

You've changed the assumptions half way through?
You start by assuming £100m from him, £50m from others.
Then you change that to £75m from him.
If you keep it at £100m from him, your calculation leads to an SP of 22.5p (not that I see the logic of it).

I also wondered why Sir Roger hadn't bought in the market.

Maybe it's not his style; maybe he likes to do things in an open and honest way, and genuinely wants to help out long-suffering loyal PIs?

Also by subscribing for shares at a hefty premium, it will encourage PIs to play their part and take up their rights when the time comes.

PanamaPete - I agree, but I was just quoting Alas_Smith . And my point was only in relation to the pricing of the rights issue.

"If your holding price is say 15p and you own 10,000 shares, your capital at risk is £1,500. If you are permitted to buy in the ratio 1:100 at 50p for instance, you have the RIGHT to buy a further 1,000 shares at 50p. So if you took the offer up, shell out £500, your capital invested rises to £2,000"

But if the SP is less than 50p at the time of the announcement of the rights issue, it would be irrational to take up the offer to buy shares at 50p.

Good luck to all holders - including thomson.

thomson - my reply was in response to the general negativity of your posts, and to your rather cryptic comment about certain unidentified people “living in cuckoo land”.

Without an RNS, I think it'll open on Tuesday in the 14's, maybe 15's.
With the right RNS, it should open a lot higher. I would hope for 20p+ by the end of the day.

thomson - so you're sticking with your prediction of 10p?

"I'm not expecting H1 results to be good".

I agree, but if they can break down the results between Q1 and Q2, that will give us a better indication of where this company is going (and whether I'll be driving a Ferrari or riding a bicycle).

Hard to believe that the PEs don’t already know what they are prepared to bid. Some game playing going on here. If the AA extend the deadline, they should issue the trading update which they pulled earlier this month.

The only desperation I see is that of Blondeamon to be vindicated in his decision to give up on Trak.

By the way, who said "this will be bust before the summer....dumped this and never looked back...useless company", and about which company?

Answer: Blondeamon, about Countrywide (not Trak), on 17 March 2020 when its SP was 56p.

Current SP: 155p.

He's a master of hyperbole.

Cheery email from Saga today announcing the new printed brochures for travel in 2021.

Quite a contrast to what's happening here to the shares. Mind you, today's been pretty good by Saga's standards.

Four bidders? Seven if you include Admiral, Aviva and Hastings Direct. Isn't that right, Popeye62?