Surprising that all the shorts have exited (the ones above .5%). They news has always been leaky, so what do they know that made them get out of dodge?
RE: No point making offers before the golden share goes13 May 2023 07:33
Good post. I don’t read it as being disrespectful, instead I see it rather as these are just the block of shares that are being, in his view, manipulated.
MM has made it abundantly clear he wants to take this off the lse.
He’s stated yesterday that c65% of the shares are with him and his crew.
So he needs to get control of the 35%. Surely him and the 65% crew will now look to up their stake by 5-10%.
This means if they were going to take it private they would need to say only raise funds for 25%ish of the enterprise.
I may be wrong but I can’t see this being done for less than £2. So if we assume that the valuation would then be c £2.5, then the funds needed would be £640m.
Predictions aren’t a good thing to to do but I think this is the most likely outcome.