Member Info for Stormer

"The broker must buy 29% in one month......."

Oasis pushed for the ousting of chief executive Gavin Darby after his 2016 rejection of a £1.5 billion takeover bid from food giant McCormick valuing the shares at 65p. The shares plummeted after McCormick walked away and Darby later quit.

After an initial Covid fall to below 20p in March, Premier’s shares have soared to 86.5p today as the group proved one of the UK’s biggest beneficiaries of the stay-at-home world.

Oasis bought its stake in stages but according to Bloomberg data appears to have invested at an average of around 40p a share, meaning it will have doubled its money if it sells at current prices.

Oasis successfully pushed for a board overhaul and strategic review which led to a recent agreement to improve its pension situation and cut debts.

Premier now has a completely new management team led by chairman Colin Day, chief executive Alex Whitehouse and chief financial officer Duncan Leggett.

Oasis and Paulson’s partial sale in August went off without a big fall in the share price, but brokers want to make sure there is strong enough demand in the market to allow them to sell without hitting the shares.

Also on the board is Shinji Honda of Nissin Foods, the company’s biggest shareholder at 19%. Sources said that stake was likely to remain as the two companies are strategic partners, with Premier selling Nissin’s noodles.

This afternoon, Oasis founder and chief investment officer Seth Fischer, Founder & Chief Investment Officer of Oasis Management, issued a statement saying Oasis was a "committed, long term" investor in the business.

Activist investor Oasis is set to sell its major stake in Mr Kipling’s cakes giant Premier Foods having successfully pushed for a shake-up of strategy and management and seen the share price rocket fourfold since March.
Now, Oasis wants to benefit by selling its 10% stake, with fellow activist Paulson likely to follow suit.

The two quietly sold 15 million and 10 million shares respectively last month, leaving them with stakes of 10% and 6%. Oasis’s 85 million shares are today worth £72 million.

More sales are expected in the coming months with one broker expecting the pair to be out entirely by the end of the year. Sources at Oasis cautioned that such a rapid exit was unlikely.

Premier, which just admitted to a Covid-19 outbreak at its Mr Kipling pie and cake plant in Stoke-on-Trent, has seen sales surge through the pandemic as people bought Oxo, Sharwood’s and Nissin ingredients to cook with at home.

18p

Fund manager Schroders has also been increasing its stake in recent weeks, taking its share up to 10.8%.
While Kretinsky is betting on shares rising, plenty take the opposite view. This week saw the hedge fund WorldQuant increase its "short" bet against the company's shares, joining bigger shorts such as BlackRock, which upped its short position to nearly 4% the week before.

Apologies for being a pedant but it was 9 PMDR made purchases.

Trillions

Coronavirus: New antibody test with 99 per cent accuracy approved for use across Europe
A new antibody test to check whether someone has been infected with coronavirus which claims to be 99 per cent accurate has been certified for use across Europe.

Global diagnostics specialists Abbot, which has a UK base in Maidenhead, has said it is expecting to have shipped millions of the laboratory based lab tests across Europe by the end of May.

The company’s diagnostic test has been given a CE Mark certification showing it complies with EU safety rules and can now be used in labs across the UK to test for antibodies created when a person has been infected with Covid-19.

some spread

I looked at them when they were between 1.10 and 1.20 I had just been furloughed 0n the 23rd March and I didn't buy any either but then whenever I do buy shares they always go down go figure .I bought LLOYDS, ITV and Aviva the week before and all dropped 25% clawing some ground back now!! Maybe I should just play bingo. But I'm glad folk are turning a coin on this one.

Copy that, I was asking Island girl what she meant by this "I wouldn't hold on to cash for too long if i were you"

Why is that?

A weekend of more clown virus cases and Monday will be a stampede!!

Not sure if you get the divi if your buying today?

https://www.dailymail.co.uk/money/markets/article-6355935/Builder-wife-hit-38m-jackpot-making-slick-gamble-North-Sea-oil-firm.html

Could be back on the takeover radar.

Thus why the Baron took a position.

69p on Google.

Deal looks good to go,cleared.

What is going on with this share?