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All I know is if. somehow. the IMIC takeover does not get voting approval the share price here is going to fall like a stone and will remain at a low level for a very long time.
Not wishing to pour water on this but you did say much the same thing back in March. I agree that there are some clues that a takeover might be the end game here - such as the CEO buying large quantities of shares and the company re-engineering itself into a Caribbean/Pan American operation. But I would have thought that it would be when the re-structuring is completed. The last news was that there is still a question mark over the Monaco deal I think?
There is a massive re-rating of this share taking place. The acquisition of May Gurney is clearly perceived as a bargain.
9th August
Any thoughts on this offer? It seems that a few people think it seriously undervalues AFF. I notice that the RNS still refers to the possibility of a better offer being received and mentions a fee AFF must pay if the deal is rejected. Could AFF be attempting to flush out a better offer from another bidder?
You get 80p back when the deal goes through - plus in 2 years time you get a further 46.4p. The further payment of 46.4p will either be paid in cash or in IMIC shares, the choice is IMIC's.
There will probably a few short term traders who wish they had stuck around now. It's a very good offer. I suppose there is still a slight question as to whether COST will try and up their bid to beat KIE. I think it unlikely to be honest but you can never be sure. It is also still possible that some other outfit such as CLLN will have a go at acquiring MAYG.
No, nothing from Kier yet. The documentation for the Costain deal has already been sent to MAYG shareholders but KIE still have some time to do something if they want.
Not sure that's necessarily good advice. Kier have today announced that they are also interested in buying May Gurney. There could be a bidding war here.......
Its an agreed "merger" by both sides. Although few mergers are the joining of two equals, and in this case Costain are the larger company and will have more control of the merged entity.
They are cheap for a reason. What sort of news do you expect that will drive the sp to more than 5p?
I have to say I sense there is some sort of end game in motion here but, of course, that is only my gut feeling. I can only base it on the evidence of the (fairly radical) restructuring and a CEO buying a sh*t load of shares. Which isn't that much I guess...but at least this outfit isn't standing still and drowning in its own gravy.
Not heard anything recently. About 6 months ago the Times mentioned that America Movil might be interested in buying CWC once the restructuring was completed. And I suppose it now is as the agreements to sell of Monaco and Macau have been signed. Tony Rice's recent purchase of more than a million pounds worth of shares was certainly a confident move! What are you hearing?
Thank you for letting us have your very informative and balanced view on Cogane. I too am long on this share and have been stuffing part of my annual ISA pot into it for several years. Apart from the obvious gain to investors in PYM it would be a great achievement to get an easily available drug into the market that combats the effects of ALS and PD.
Well at least you didn't just talk to yourself on here all day. GLA.
I have a saying which has served me well: do not talk to Cable and Wireless investors about Centamin.
As far as I can tell: 1) He is happy to p*ss in his own swimming pool but draws the line at doing the same in someone else's, especially if their swimming pool has any sort of "corporate governance" about it. 2) He will sh*t on his own doorstep but again is unlikely to perform the same act on someone else's, No idea if a "corporate governance" doorstep is any different to an ordinary one in this context. 3) He appears to have a bit of a phobia about jelly. 4) The word "trouble" resonates strongly with him. 5) Sockpuppets are strictly off limits in his world. The good news is that these principles have served him well in what , we can only assume, has been a highly rewarding life to date. We are truly blessed to have him amongst us.
RNS today announcing that the merger with Metric will all be done and dusted by the month end. Also announced that the tender offer for the share buy back will be sent out by 31st Jan. That is all I can see that has happened here today.
Thanks for your reply and explanation.I understand where you are coming from now. However I find it hard to believe that Rice would shell out over a £million of his own money as an attempt to shore up the share price. If the market does not like CWC's clearly stated strategy then a director's (albeit substantial) share purchase would surely only provide a temporary brake? I am clearly of the view that he was filling his boots whilst he could in an unrestricted period! My attitude to this stock has always been to be patient and I would fully expect some dips in the sp along the way. I do think we long term holders will end up with a much better market value than we currently have. As ever playing the market as PI is very much a case of each person following their own path....
No problem with a difference of opinion and a proper debate. The problem I do have is that, to my eyes at least, you write in riddles. I'll try two questions and if I get an answer let's see where we go: 1) You talk about Rice buying a shed load of CWC shares (in a non restricted period) and firstly you suggest that he is not buying because he thinks they are cheap but you imply that he has some other motive for buying them. If he doesn't think the shares will ultimately be good value what is that motive please? 2) A little later you accuse him of p*ssing in some corporate governance swimming pool. Please explain what pool he is p*ssing in and why?