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What I like here is that the Chairman has significant skin in the game at a price considerably higher than that we have today. A Chairman with a strong track record, highly market focused and motivated. I like the combination. IMO
CEO buys 1.5% of his own company. This is a huge buy signal. £0.5M of his own money. Can't see him voting against the dividend :-)
www.ukwire.co.uk will take you there. Pontil
Now that is a vote of confidence.....£500K of his own money.....and he does know what is going on. Pontil
Dear Boom, this is a great play, Presently FEN pass value to other players which with this acquisition they will be able to retain in house and hence boost GP. What is unclear in the RNS is the size of FIMS ( Funds ) now under FEN control with the acquisition. Previously circa £640M....how much closer are we to the £1Bn prize? IMO. Pontil
What is significant is that the ex CEO of Alere, Ron Zwanziger had bought even more shares at circa 1.5M for 22p. He is mentioned in earlier RNSs as being a potential new Chairman. He has a major shareholding 7% + and he is seriously connected in the industry. This is an extremely positive sign. IMO, DYOR.
What is intriguing is that Jin Jing appear to be specialist in glass and glass derivatives manufacture; they covered the Bird Nest in Beijing with their glass and many other equally impressive projects. I wonder how their competitors will view this? And why EKF specifically? Happy to see this one roll out.
Boom, I had a look at it yesterday having noticed the price was up. I think it is just a continuation of good results and it shows they have a growth plan. If they can bring in circa £100mil pa of new business in 2017 then it becomes worth a lot of money. Anyone looking to take it over would be looking two years ahead to see what is in the pipeline and so their current plan should increase what anyone is willing to pay. Imo dyor
Boom, sorry I should've commented earlier. The earn out the directors have is a % of the total sale price and of course rises as the offer increases too. An interesting dynamic. The extra value by being taken over exists in the release of fees for the management of the £600M FUMs and consolidation of back office costs. With 99% clients retention they's be mad to touch the front of shop and professional service offered. Either way we either see a rising dividend payout or someone will want them. IMO.
Boom, their structured settlements business is why I invested in FEN when they first floated. I remember the share price tanking in 2009 and thought well here is a chance to get in at/near the initial float price so doubled up. A few of my network have invested too and are all sitting on great profits. As I said a great company. I see we also share an interest in SCLP. Not long there too. All IMO.