Invista Share Discussion Threads

[alanji] 13/9/2012 11:34

Thank you to anyone who generously donated to Marie Curie - details in my original post (link below). The total to date is over £1200 and I know a few more cheques are in the post. This compares with the average of £2-300 so, a fitting tribute. Donations are still being accepted should anyone still like to contribute (details in original post). All contributions will be used to fund the provision of end of life nursing care for patients in their own homes. When arrangements were being made to get Lisa home there was only one nurse available. Two are required and had I not agreed to act as the second 'nurse' she would have died in hospital, so it is certain that any funds raised will help someone else fullfill their wish of being in familiar surroundings with people they love, in their last hours, days or weeks.

Thank you also for the kind messages, both publicly and privately.

[alanji] 31/8/2012 05:23

Unfortunately my wife has been very seriously ill for some time, was admitted to hospital two weeks ago and she died early yesterday morning at home.

I could not believe the service we received from the NHS palliative care team and the Marie Curie nurses in their efforts to get her home to enable her to pass away in familiar surroundings and the comfort of her own home. We will be having a collection for Marie Curie at her funeral. If any of you have benefited from my postings you might like to consider making a donation to Marie Curie. They provide end of life care for anyone, not just cancer patients as I had previously thought, and their support and dedication was unbelievable. Without this service my wife would have had no choice but to die in a room full of (in her case, well meaning) strangers.

For anyone kind enough to contribute, cheques should be made payable to Marie Curie Cancer Care and sent to Peter Jackson Funeral Services, High St, Henstridge, Somerset, BA8 0RB with a note to say in memory of Lisa Izatt. The funds will be used to support the local charity which looked after Lisa. Last year they funded 49 nurses who cared for 429 patients at home and they need to raise £510k this year to continue at that level - it would be great if we could increase it. This funding enabled many people to spend their last days or weeks in the comfort of their own homes in familiar surroundings.

Thank you to all who may contribute and I wish you success in your investing - but it means not a whit if you have not life and health so get your priorities in the right order.

If you are kind enough to contribute please print out and complete the "gift aid" declaration and enclose it with your cheque to increase the value of your donation with no extra cost to you. https://www.mariecurie.org.uk/en-gb/donate/donatenow/

[praipus] 23/8/2012 20:47

Yep now where next?

To look at what else Weiss are up to I track the rest of their holdings on the WAM thread:

[flying pig] 23/8/2012 15:49

Cash in Sipp
Game over

[praipus] 09/8/2012 09:38

Ok shares suspended. Have we, the board and institutions just been gamed out of £26m?

[alanji] 12/7/2012 17:31

Pity about Mount Street - come on Internos.

redhill - meetings for approval are on 20 July (formality, as they already have necessary acceptances) so we have until then.

[scburbs] 12/7/2012 16:41

Mount Street out of the running.

[redhill9] 12/7/2012 15:10

Can anyone comment on the timetable for a revised bid? If there is to be an increased bid,by when does it have to be announced?

thanks, redhill

[hazl] 12/7/2012 10:00

interesting praipus

[praipus] 12/7/2012 09:56

Hi flying pig, Perhaps we should create a thread to list the names of directors who seemingly have contributed to actions prejudicial to shareholder value.

Though I have noticed that regression to the mean sometimes leads to the next trade acheiving good value. However looking at



The directors here dont have a very good record. Once unlucky twice...hmm is it a pattern?

[flying pig] 11/7/2012 23:22

The Board should be ashamed - avoid these folks if they emerge in the future; they do not understand the concept of fiduciary duty. (Shareholder value)

[gingerplant] 10/7/2012 17:11

Thanks Alan - maybe there'll be two more bids!? :-)

[alanji] 10/7/2012 16:28

Slightly wishful thinking, gingerplant, it only needs to be 12.5% higher ie 16.6p. On the face of it that would be a bid of £44.4m for a co with net assets of £65m. Looks a pretty good bargain.
Dig a bit deeper, though and, as I have said before, it is a much better deal than that.
IREIF has been sold to BOSS as part of the deal for £16.3m - a 16% discount to the last nav despite the fact that its second largest asset was sold in May at 5% over the last valuation making it an even better deal for BOSS.
£15m of the funding for the deal is being supplied from INRE cash. Strip that and IREIF out and the bidder would get IREOF (value £9.3m in last accounts) plus about £20m cash for £13.4m - now that is what I still call a steal - can someone lend me £13.4m on a short term basis?

Good to know the directors are acting in our best interests.

[gingerplant] 10/7/2012 14:03

Just short of 17p would be revised minimum bid (i.e. +15% from Palmer???) As Alan says - hardly expensive with NAV over 24p a share and net cash around 13pps.

[alanji] 09/7/2012 19:11

Great news and even at the increased price it will still be dirt cheap.
Apparently mentioned in the Evening Standard

[praipus] 09/7/2012 18:10

Excellent find thanks scburbs.

[scburbs] 09/7/2012 17:01

AlanJI,

It's another potential bid. Further confirmation (if any were needed!) that the board were not acting in the interests of shareholders when recommending the Internos offer (they should have announced the offer to the market to indicate the low amount that needed to be beaten, but not recommended it).

"The board of Mount Street Capital LLP has noted the press speculation in relation to the possibility of it making an offer for Invista.

Mount Street Capital LLP confirms that it is considering its options in respect of Invista, which may or may not lead to an offer being made for Invista."

[alanji] 09/7/2012 16:39

Has some news leaked? Someone was buying at 14.75 today and at the close there were bids for 125k at 14.5 and 262k at 14.75 - fingers crossed.

[porkpies] 09/7/2012 07:17

I notice that Invista are in court this morning:



THE DAILY LIST

COMPANIES COURT

THE ROLLS BUILDING

HEARING ROOM 8

FIRST FLOOR

Before

REGISTRAR DERRETT

Monday 9 July 2012

Unrobed

At half past 10

2662/2012 Pendo Products Limited

4234/2012 Invista Real Estate Investment Management Holdings PLC

[alanji] 18/6/2012 10:32

Well, I wouldn't say "brilliant" but a definite improvement - still only values the co at little more than the cash so there must be hope of an improved offer from Internos or A.N.Other - current acceptances fall away if a bid 12.5% higher is received. I was astonished to see the director acceptances of the Internos bid do not fall away (they were not conditional on a higher offer) - make them sell their shares at 12.5p!

[scburbs] 18/6/2012 10:31

Directors like these should be avoided. They should never have accepted the Internos offer as Weiss have pointed out. Idiots. The revised offer is still poor, but looks better due to the low ball having been accepted with substantial shareholder support.

[praipus] 18/6/2012 09:53

Counterbid for INRE



Will Internos up it?