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As I read it there are large institutional holders of this stock, and recently the Welcome Trust has declared. The borrowing is secured with two new banks joining the provision, and I'm sure yhey would have done some form of due diligence. So, I find it strange to keep seeing this price drift. I still have my modest holding and sitting on a large loss at the moment.
Hope for better things later this year
This looks very much like to downward spiral that happened to the AA, before a bid emerged when the price was a few pence ! I decided, unlike my hanging on decision with the AA where I suffered a big loss, to sell. Will keep watching this closely, and if it gets to the low pence will probably chance it.
BEST OF LUCK TO ALL
P
Why would Weiss increase their long position to approx 3/4 mill ? They must think the price will increase ? Any thoughts ?
T
For the offer of 35p to succeed does it need a 50% or 75% shareholding approval ?
Thanks
T
U nless I am not understanding the recent rns ,ABC no longer have 19.47per cent share holding. Who could be the new holder ?
T
I see thatABC has converted 15million plus to ordinary shares - is this a good sign or merely a paper transaction ? Anyone with better knowledge than me have any thoughts ?
Thanks
T
Reported in the Times today, that AB thinks the above is the start price
Shares and cash derivatives total nearly 20 per cent. Quiet so far, but must be in a strong position to influence how this all pans out. Their reported view back in August was that the AA could easily refinance. So,my guess is that a new bid or a higher price will come . Fingers crossed!
There is a long way to go at the moment to achieve the 75 per cent acceptance needed. Maybe wishful thinking, but I can't see that happening, as I guess the large shareholders e.g. ABridge must have bought at much higher prices than 35p.
We will see
This share was a broker buy c£1 back in January when the debt level was well known.
I recall the initial offer for Kingston Communication triggered a better offer from other parties. On that occasion I sold too early, so, will wait this time around to see if another better bid arrives.
Unless I have missed something, I see that Albert Bridge are not mentioned as backing the offer.
Best of luck to all - I'm sat on a big loss at the moment