The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Excellent rise here in the last week, almost under the radar, and just casually up 13% today so far. Steady buying suggests to me some insider knowledge. Would love to see a bid around 20p which feels about right at the moment for this company.
Could be that, or you could see it as they're working closely together to mutually agree a price that they're both happy with. Personally, I see it as a positive that the offeror hasn't been told to sling their hook immediately.
Don't really understand why they would need any special dispensation from the rule requirements. What's the big deal in keeping that information private?
"The Panel Executive has granted a dispensation from the requirements of Rule 2.4(a) and Rule 2.4(b) of the Takeover Code such that the Company is not required to identify any potential offeror with which the Company is in talks, or from which an approach has been received."
This is the only reason I could see:
"Where, prior to an offeror having announced a firm intention to make an offer, the board of the offeree company announces that it is seeking one or more potential offerors for the offeree company by means of a formal sale process, the Panel will normally grant a dispensation from the requirements of Rules 2.4(a) and (b"
So this suggests an intention to make a formal offer?
I'm guessing today's buying is in anticipation of that update with a 'sell on news' strategy. Today's movement nice to see regardless.
Dunno why this made me laugh - Gina Rinehart going down like a sack of proverbial sh*te in Australia. That painting has a real likeness: https://www.bbc.co.uk/news/articles/cz74ed6yk9lo
Predict tomorrow this will end up around the 845 mark just under the daily 200MA.
The issue here is that we'll only hear after the next bid is rejected, by which time Wood will be in auction and open back down at c.160p or lower. Sidara first made an offer on 30th April, and we were only told about it on the 8th May when it was rejected. They need to publish the next offer as soon as it lands.
1. Scott Caldwell to put on a frock and walk from Alpala to Quito shouting "who wants some of this?" every 500m?
2. Nick Mather to buy a round for all long term SOLG holders?
3. Anyone else care to suggest others?
The difference here is that price has broken through the downtrend formed between highs of 20th Dec 2023 and 26th March 2024.
The long-term downtrend formed between highs of 27th Jan 2021 and 27th Jul 2023 is a bigger obstacle to overcome which OCDO will encounter in the two weeks or so.
That's how I like my investments...
The Buckaroo mule should be MMAG's new logo.
1 share purchased at 5.5p followed by 3 sells of 3 shares each at 4.5p brought the share price down by 9%. Can't make this stuff up.
Agreed, it's an Apollo rehash. I think Sidara are hoping that the passage of time means JW is valued at less. 205 to test the waters, then probably something north of that, c. 220. Would be surprised if they extended to 240.
Happy with price/profit as it stands, 220p would be a bonus.
Good w/e.