Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
They will spend it, or at least a fair proportion of it. From the RNS
Whilst our existing HCT and Venn businesses are both delivering strong organic growth, we will seek to enhance this via our inorganic growth strategy, and we are actively assessing synergistic opportunities for small bolt-on acquisitions in the areas of drug development consulting, patient recruitment and clinical trial site services that will support our growth strategy whilst also diversifying the Group's revenue streams.
...or of course they could always do the right thing and up the tender offer to 275/300.
That would put the cat amongst the pigeons
What we need is the SP to head towards 250 and then all get the special divi due to there being no tender take up and also keep our shares, or simply sell out at that level.
It's all down to the price at the point the tender closes. I can't see how it can be much less than 250 and the process serve its purpose.
If the SP at tender close is 240+ then you might get to sell 90% of your holding (as not many will bother) but by the time you add fees and duties you won't make much if anything buying back. But if it is 245 then, as an RI, why bother with the tender? You could just take 245 and not have to wait for the money or have a partial take up.
Alternatively, if the SP is only 220 then you'll probably get to sell only 20% of your (tendered) holding anyway as everyone will think it is easy money, but...
I think with the significant reduction in liquidity once 14% has been removed from the market, that one way or another the SP will be 245+ and you won't get to buy back for any less than you sold for. The question you need to ask yourself is are you happy to walk away with 250, which is what they want you to do.
Questions, question...
It's difficult to beat guidance if you set it too high.
MOA - Under promise, over deliver.
Daphne moved on to Seaport - Major investors getting peeved with lack of shareholder value?
Good to see some action anyway.
Results to come very soon, closely followed by the launch of the tender offer. I've no idea what the strategy should be for that now with the SP languishing at 215.
Somethings leaked. Gone crazy
It's been boring a very long time, but you can't reason with someone who has psychologic issues. You just have to feel sorry for them.
It’s sets the tone for all future negotiations now.
ITX won’t be rolled over. I’m impressed by this, it means the management feel in control of their own business and aren’t in awe of their big clients.
Well played John.
It's time to shed the low margin contracts - There's no point being busy fools.
Don't be pushed around by the big boys, they pay the going rate or they go somewhere else.
...and despite that.... As per the trading update on 27 February 2024, the Company expects to announce final results for FY 2023 in line with current expectations, achieving another record year with unaudited revenues of $7.9 million, a substantial increase of 40.6% over FY 2022 of $5.6 million.
Full steam ahead.
Sorry, not AGM. The tender offer will be launched after publication of the Company's Full Year Results at some point during in April, so could be any time in the next few weeks.
There really is no point having a tender offer of £2.50 if the share price is north of £2.35 in my opinion.
I know it doesn't track consistently but the share price in the US is currently exactly $30 near to close on Monday.
That's the equivalent of approx £2.39 in the UK.
I can see it being very close to £2.50 by the AGM and the proposed tender sum being pointless. They need to raise it to £2.75/3.00 as I said in my last post or switch to a special dividend.
The reason that the MC of ITX isn't 10x its current level is simply because the UK market hasn't understood the science or the vast potential here.
In that way US investors are certainly more savvy.
Market Cap currently of £33m. Really. Add a 0 and it's still under valued.
Yep, that's a great phrase and sums it all up for me.
It's taken time to get this far, but now we've got here the next few years will be phenomenal.
Not many company's manage to marry the science with the market, but there's no doubt that ITX have achieved it, and one of the best parts as far as I'm concerned is that the longer it takes a major to move in on us the more it will cost them. It's a one way street from here.
AJ - I wasn't joking when I said Itaconix would be a division of Unilever. It may not be them specifically but it's only a matter of time before ITX is taken over by one of the majors product manufacturers.
The products being developed by ITX are transformational for the likes of Unilever et all, and they'll take us in-house to stop the competition doing so as much as for their own ends.
It always amazes me how quickly the ITX share price moves.
I understand the mechanics, but it still always surprises me. The fact you can change a Company's market cap by 10% based on transactions worth a total of £20-25k just seems like a very broken system.
Agree re the name, and when it comes down to it every time the Company is mentioned in the press it'll be Evoke (formerly 888) so they may as well not bother.
It really wouldn't surprise me if they revised it up to 275 or even 300 come the formal announcement in April, particularly if the share price has hit 250 prior.
If they do I might (might!) have to give them some credit for a master strategy of putting a higher floor under the share price rather than just screwing over RIs.
Seeking Alpha's Quant System gives PRTC a Strong Buy rating of 4.55 out of 5. In my experience (and I've made investment decisions many times using it's data) Quant is a good indicator of the future success of a stock both near and longer term, although I'm sure to some degree it's a chicken and egg situation as people invest due to the recommendation and hence that makes the recommendation more successful.
For those of you that haven't heard of Quant, Seeking Alpha describe it as an objective evaluation of stocks based on financial data, price performance, analyst estimates, and more. They claim that following it's analysis significantly improves returns against the market average - More info here https://seekingalpha.com/article/4263303-quant-ratings-and-factor-grades-faq
For the record, the 2 Wall Street analysts covering PRTC also give it a Strong Buy rating at 5 out of 5, together with a 12 month price target of over $55, which is just over 100% upside.
I'm happy to hold and wait.
I agree Dallo, but there won't be any shortage of short term traders who are just hoping to make a quick 10-12% on 220p.
It would be quite amusing if they only got to tender 30-40% of their holding.