Manroy Share Discussion Threads

[love26] 16/6/2020 09:45

Contact me on my email handle  at ([e-mail])  i am interested in knowing you much more. i will email you my pictures

[love26] 16/6/2020 09:44

Contact me on my email handle  at ([e-mail])  i am interested in knowing you much more. i will email you my pictures

[love26] 16/6/2020 09:43

Contact me on my email handle  at ([e-mail])  i am interested in knowing you much more. i will email you my pictures

[love26] 16/6/2020 09:42

Contact me on my email handle  at ([e-mail])  i am interested in knowing you much more. i will email you my pictures

[kinkell] 02/7/2014 22:32

Thanks, eburne.

As for original offer but in view of the delays I hoped it might be quicker!

[eburne1960] 02/7/2014 21:45

Within 14 calendar days.

[kinkell] 02/7/2014 17:44

Good to see the offer unconditional in all respects. Anyone know when settlement will take place?

[nurdin] 28/3/2014 08:48

Annoying that ADVFN news alert isnt working....but knew something was up when I saw the mark up.I will take 85p

[temelco] 28/3/2014 08:07

I think the difference between musa being worth something and £5m plus minus is worth the 25/30p more i thought we might get

[battlebus2] 28/3/2014 07:41

RECOMMENDED CASH OFFER

by

FN HERSTAL SA

for

MANROY PLC

· The Boards of FN Herstal SA ("Herstal") and Manroy Plc ("Manroy") are pleased to announce that they have reached agreement on the terms of a recommended cash offer to be made by Herstal for the entire issued and to be issued share capital of Manroy (the "Offer").

· Under the terms of the Offer:

Manroy Shareholders will receive 85 pence in cash per Manroy Share

· The Offer represents a premium of:

(i) 51.8 per cent. to the Closing Price of 56 pence per Manroy Share on 25 November 2013 (being the last Business Day prior to the commencement of the Offer Period);

(ii) 61.4 per cent. to the average Closing Price per Manroy Share of approximately 53 pence over the three month period ended 25 November 2013 (being the last Business Day prior to the commencement of the Offer Period); and

(iii) 62.4 per cent. to the average Closing Price per Manroy Share of approximately 52 pence over the twelve month period ended 25 November 2013 (being the last Business Day prior to the commencement of the Offer Period).

· The Offer values the entire issued and to be issued ordinary share capital of Manroy at approximately £16 million.

· Herstal is part of the Herstal Group, a Belgian based designer, manufacturer and distributor of firearms and related accessories for defence, law enforcement, hunting and marksmanship.

· The Manroy Directors, who have been so advised by Opus Corporate Finance, consider the terms of the Offer to be fair and reasonable. In providing advice to the Manroy Directors, Opus Corporate Finance has taken into account the commercial assessment of the Manroy Directors.

· Accordingly, the Manroy Directors intend to recommend unanimously that Manroy Shareholders accept the Offer, as they (and certain of their immediate family members) have irrevocably undertaken to do in respect of their entire beneficial holdings, which, in aggregate, amount to 3,086,013 Manroy Shares, representing approximately 16.2 per cent. of the existing issued share capital of Manroy.

· Herstal has also received irrevocable undertakings to accept the Offer from certain Manroy Shareholders, namely Caledonian Heritable Limited, John Celaschi, Liopleurodon Capital Limited, Surinder Rajput and Nigel Cobby, in respect of 7,211,859 Manroy Shares representing, in aggregate, approximately 37.9 per cent. of the existing issued share capital of Manroy.

· Therefore, as at the date of this announcement, Herstal has received irrevocable undertakings to accept the Offer in respect of a total of 10,297,872 Manroy Shares, representing, in aggregate, approximately 54.1 per cent. of Manroy's existing issued share capital. All of these irrevocable undertakings are binding in all circumstances (including in the event of a higher offer).

[battlebus2] 28/3/2014 07:39

It was a requirement of Herstal that before it made the Herstal Offer, which the Board believes represents good value for Shareholders, the Group should dispose of its 49% interest in MUSA. Despite entering into negotiations with a number of different parties over a sale of this interest during the period August 2013 to February 2014, these negotiations did not result in a firm offer for the Company's interest in MUSA. By late February 2014, in order to preserve the Herstal Offer for the benefit of Shareholders, it became necessary to dispose of the Group's interest in MUSA at a nominal value. This disposal was concluded on 28 March 2014 and resulted in an adjusting post balance sheet event charge of £5.1 million in the results for the year ended 30 September 2013. However, this write off has secured the Herstal Offer at the Herstal Offer Price for the benefit of Shareholders.

[battlebus2] 28/3/2014 07:35

Well i for one do not believe the offer today is good value for share holders... indeed far from it though this mornings results are worse than i suspected with only 0.2 million profit.

[battlebus2] 28/3/2014 07:34

Thanks Ferries..

Financial Results

· Revenue increased by 20% to £8.9 million (2012: £7.4 million)
· Export revenue increased to £7.1 million in the year (2012: £1.9 million)
· Provisions for impairment of US Associate of £5.1 million
· Resultant post-tax loss of £6.3 million (2012: post-tax loss £1.5 million)
· Adjusted post tax profit of £0.2 million (2012: £0.1 million)
· Adjusted earnings per share of 1.0p (2012: 0.7p)
Operational Highlights

· Acquisition of trade and assets of Base Enamellers Ltd and RJL Engineering Ltd
· Continued expansion of product range and increased orders into export market
· First large scale production and delivery for new GPMG product
· New order for £6.1 million relating to new military rifle product to be delivered in 2014
· Order book increased at 30 September 2013 by 53% to £14.7 million (2012: £9.6 million)

Post-year end

· 28 March 2014 - Disposal of US operations reflected as adjusting post balance sheet event in results to 30 September 2013
· 28 March 2014 - Announcement by Herstal SA of offer for Company at 85p per share, valuing Company at £16.2 million.

Andrew Blurton, Chairman of Manroy, commented: "The Group has entered the new financial year with an increased order book and a continued growth in enquiries from potential customers not previously supplied by the Group. The Board believes that the Herstal offer announced today represents good value to Shareholders and is expected to secure further growth and expansion across all areas of the retained business".

[ferries5] 28/3/2014 07:26

RECOMMENDED CASH OFFER

by

FN HERSTAL SA

for

MANROY PLC

· The Boards of FN Herstal SA ("Herstal") and Manroy Plc ("Manroy") are pleased to announce that they have reached agreement on the terms of a recommended cash offer to be made by Herstal for the entire issued and to be issued share capital of Manroy (the "Offer").

· Under the terms of the Offer:

Manroy Shareholders will receive 85 pence in cash per Manroy Share


Alerts not working on advfn this morning

[temelco] 26/3/2014 17:58

Can't be long now - either way

[thorne3] 18/3/2014 09:37

temelco-I agree,why has the American contract not been announced?Yes we are missing something simply because we have not been brought up to date.

[battlebus2] 16/3/2014 16:08

High possibility of news which ever way it goes before the end of this week and before the Ahmed on the 31st.

[temelco] 07/3/2014 10:40

This must change the dynamics of this deal. Apart from anything else it would make huge sense for Colt to buy MUSA - or Manroy. It's got to be worth and extra £700-750,000 pa over the life of the contract to Manroy - and this is only the first of the replacement barrel contracts from the DOD

[temelco] 07/3/2014 08:51

Why no RNS from Manroy on the contract? Or have I missed something??

[battlebus2] 07/3/2014 08:15

Yep seems to be some detail that's taking a bit longer to tie up and i'm guessing it's with MUSA.

[lanzarote666] 07/3/2014 08:11

It does not long to say No but it takes a little longer if you need to finish the legal paperwork or count all the cash to make an offer perhaps. NAI.

Or perhaps it's the new USD54m M4 replacement contract that changes the numbers.

[battlebus2] 07/3/2014 07:08

Extension to deadline

This announcement is not an announcement of a firm intention to make an offer under Rule 2.7 of the City Code on Takeovers and Mergers (the "Code") and there can be no certainty that an offer will be made, nor as to the terms on which any offer will be made.

Extension to deadline in accordance with Rule 2.6(c) of the Code.

On 14 February 2014, the Company announced that, in accordance with Rule 2.6(a) of the Code, each of Herstal SA ("Herstal") and Beretta Holding S.p.A ("Beretta") must, by not later than 5.00 p.m. on 7 March 2014, either announce a firm intention to make an offer for the Company in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. The Company also announced that it could approach the Panel for a further extension to this deadline in due course in accordance with Rule 2.6(c) of the Code.

Following such a request from the Board of Manroy, the Panel has consented to an extension of the deadline to 5.00 p.m. on 31 March 2014 by which time each of Herstal and/or Beretta must either announce a firm intention to make an offer for the Company or announce that it does not intend to make an offer for the Company. This deadline will only be extended with the consent of the Panel in accordance with Rule 2.6(c) of the Code.

The Company remains in active discussions with Herstal. The discussions with Beretta are not active but have not been terminated.

There can be no certainty that an offer will be made for the Company, nor as to the terms on which any offer may be made.