Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
We’ve had a rerate up from jpm and now one down from Barclays.
I think it’s just a time to hold to your convictions or trading appetite.
This will be back or not on yield expectations alone.
As someone pointed out, the gap is filled
Barclays unhappy “ Barclays cuts Phoenix Group to 'underweight' (overweight) - price target 500 (600) pence”
Anyone have access to the detail ?
Not brave at all, it’s a swindle . His debt holders have security rights, he needs majority ownership before an administration to keep competition away.
Nothing brave here , wow
Wow , after shield therapeutics this is the most crooked thing I’ve seen on aim.
No wonder no one invests here , and the authorities will do nothing about it.
They are waiving your preemptive rights, they are allowing the share holder to buy the business at 1p AND they are delisting ,without a price offered to ensure you have to get out now.
Wow. And this whilst under “public scrutiny “, you won’t have any protection once it’s private.
Unbelievable.
Shield (stx) was better a bit, they accidentally lied for a year about their results , only finding the truth after a share raise ..
F*ck me.
Anyway this is a 0p so , that’s that folks.
Ah lovely. Thank you.
Nope - says it’s on the website but not found it
Tambo - what’s the rationale, could you share the update
Hi soundman , I think you have a miss understanding.
For example if everyone puts their shares in to sell at £2.50, how will the company pay ?
The company has capped the offer to 14% (£100m), thus more than 14% of shareholders ask for redemption , you will get scaled back.
This is on the assumption you can even ask to redeem your full holding, the offering doc may limit it to 14%…
Yes , without doubt if you sell a stellar asset for 14bn and even then , shareholders only get a 30p dividend on 14% of their holdings … something is very wrong. You would be mad to hold this share for returns as a PI , what needs to happen for you to make a return ? Given they have no dividend yield and do not pay out when they make a blockbuster deal?
Seems like a good move, shores up the price for a long time. Gets us to April Stella results.
Rewards any holders who want the premium vs historical price. Removes holders (probably all) that think £2.5 is good value.
Opens door to setting the precedent.
Also will get a lot of coverage now
Behold the pro(phet). 😂 nice call dallo. Glad they didn’t do an acquisition given their share price
So I guess you apply for your allocation and get a pro rata share ? Kinda works for people new to the share holding but only for 14% if your holding ?
Please don’t let it be a share buy back. That only helps the dumper at £2 …
A return like this should be a dividend givens it nature .
Let’s see. Gla
No I don’t think it drops off the share price, fully . so I’d expect 60-90p dividend , plus maybe some share buy back.
For the share to move to c £2.50 off the back of the announcement then to drop to c £1.7 after it is ex div.
£1.7 conservative, depending on the royalities noted . A £1.7 ex dividend, it means prtc has cash to 2028 plus , royality income of several hundred million, £300m cash on b/s (even after div), and potential ipo of founding entity. Vs a market cap of £475m or so …
Seems very fair, you could argue there will be a limited drop after the ex dividend date, easily I suppose
Absolutely, a special dividend. They have cash to 2026 excluding the share payment and excluding the milestones - so would expect a good chunk of the 300 to be paid out.
I’d be looking for 60-90p a share , conservatively.
Much more if bms want to buy out the royalities.
That’s big news and soon, doubled up here now
Are you ok budddy 😂😂
Thanks golf, I agree. Also the listed market cap is $12bn currently, capturing the uncertainty there too.
Having said that, in either scenario it’s only a matter of time for prtc
Not really useful linking or posting … outdated without links
If it wasn’t for the fee; this would be very good news.
With the fee it’s not ideal. But helps present results on a proforma basis now.
Potentially more attractive to an acquirer as well.
But on the whole negative I think