Instem Share Discussion Threads

[steveberyl] 30/12/2023 14:44

Amanda Blanc, CEO AVIVA is a Misandrist.

A Woman who hates Men. Obviously been determined to join the Sisterhood,

Looks like a Amazon, acts like an Amazon.

[tradertrev] 02/11/2023 18:26

The Court may not sanction the Scheme given the narrowness of the margin. Had I been at home this afternoon I might have sold half of mine - the ones I bought back at 765.

[1c3479z] 30/10/2023 07:33

more pressure from Archimed suggests the vote is too close to call still?

[1c3479z] 20/10/2023 09:23

looks as though the t/o is edging towards the required majority, generally a rather lukewarm reception: on the other hand, no alternative on offer, suspect the share price would fall back into the 500s if it doesn't go through? Market quite unforgiving presently.
Had cvsg/ergo down as alternatives until the CMA started its investigations and other developments.

[1c3479z] 18/10/2023 14:15

one interpretation could be that the larger shareholders, Liontrust, Slater, River and Mercantile and others, tried to whip-up some interest for a counter bid among institutions, 5 of which expressed an interest but all of whom withdrew after looking at the books and outlook? Another is that the vote is too close to call so the meeting is adjourned in the hope of garnering more support?

[p1nkfish] 18/10/2023 12:38

Interesting adjournment. What's in it for management to push the ARCHIMED offer so much vs the list of others?

[tradertrev] 13/10/2023 17:22

Canaccord going from 6% to 4% despite recent quote claiming it was worth £10.60.
Looks like posturing to me, without success. Less difficult for them to block with a smaller holding. Much as I would prefer a higher bid I still think this goes through.

[p1nkfish] 13/10/2023 12:39

The close price at the end of today will be interesting as well as the Monday open. A chance there will be signals to interpret in both. The clever ones took money off the table when the offer landed.

Used to own Instem from sub £3 and exited too early about £7.50. Not so sure this time. Hope you all make a decent return and it goes from strength to strength under any new owner.

[p1nkfish] 13/10/2023 12:36

Agreed tt but too many unknowns and the only things I can know is where my stop would sit and the potential risk vs reward.

Lion will also pay a price if they allow this to be sold at what they think is too cheap. Future Lion investors will be more sceptical of Lions assessment of a company future value potential.

[tradertrev] 13/10/2023 12:18

Liontrust need performance in their funds. They really don't need a big position like this to fall back sharply. Take a look at Liontrust's share price!

[p1nkfish] 13/10/2023 11:25

A gamble on say 10% upside in a couple of months vs 20%+ downside that could happy really quickly, needing tight stops. If the worse happens I can imagine it going down below the 200 week EMA at about 607p. Then would be time to buy!

The gambler in me says have a punt, the other side says to look for the upside elsewhere that doesn't have so much downside risk.

[p1nkfish] 13/10/2023 11:22

The Cannacord Genuity sales and Lion not being happy and the confirmation of no higher offer from the bidder - does suggest its close to the wire and if voted down there will be a fall back. It needs another bidder to join the party.

I think the price softness does suggest there is increasing risk it will be voted down with no plan B except to continue as it was prior to the bid.

If it does get voted down where do people think the price can fall to?
Updside is defined. Timescales to clarify.
Downside definition? What probability, falls to what price. Could happy quickly and near-term.

Very tempting but not guaranteed upside and a pretty big downside potential and can't guess the probability of up vs down.

[1c3479z] 13/10/2023 10:23

looks as though the vote to approve the scheme may be close?
had an email setting out reasons to accept the offer a fortnight ago from the company. No other bid on the table so have accepted the terms for our small shareholding and the latest update from the company suggested only little near- term growth. will depend as ever on the institutions, Slater, Canaccord, Liontrust, River and Mercantile among them.

[ahhh luke warm] 13/10/2023 10:13

When is this deal set to close Trev? Seems like a good opportunity to accumulate if the price is 765 or below. Not dug into the terms yet, just noticed the RNS today. Cheers :-)

[tradertrev] 13/10/2023 09:22

I just bought back the shares I sold last month (829p) for 765p. Thank you Mr Market! The announcement today doesn't really change anything. Having reached agreement at 833p they were hardly going to just roll over and offer more just because Liontrust said it wasn't high enough. There is still room for someone else to come in at a higher level if it's genuinely worth more. At the moment ARCHIMED are the only buyer.
While a Liontrust rejection might make the SoA more difficult, they can always move to a conventional takeover bid structure.

[1c3479z] 27/9/2023 11:15

column in the Times quotes biggest shareholder, Liontrust, as thinking the offer too low.

[1c3479z] 04/9/2023 12:36

life may also become 'easier' for managers at ERGO, the better quality AIM stocks are disappearing, which was down as an alternative until today...

[p1nkfish] 02/9/2023 20:35

Agreed. Some promises may have been made. Why have the hassle of public market scrutiny and costs if a PE group will cross a palm or two and also make life easier.

[tradertrev] 02/9/2023 19:33

In my {usually bitter) experience, public to private bids at valuations that are seen as relatively cheap nearly always involve management being handsomely incentivised to stay on and run the company for the private equity managers.
Basically corrupt in my view. The main reason I hate private equity, but I'd better stop before I go into a rant about all the other reasons!

[1c3479z] 02/9/2023 12:47

Managers fatigued with running a plc, it's relentless pace, retirement age so happy to take the money and go, one suspects.

[p1nkfish] 02/9/2023 09:14

Perhaps something in it for the management so suits them.
Perhaps may become probably may become is.

[1c3479z] 02/9/2023 08:49

both cannacord and Mark Slater quoted as believing it's being sold off too cheaply in the Times today. Cannacord thinks it's worth 10.60 and shareholders should accept no less than 9.55 and Slater holding over 3% describes it as a 'little jewel' with no need to accept the offer....and the managers have rolled-over far too easily.