Finsbury Food Share Discussion Threads

[applied1] 08/11/2023 13:35

MTC,could be next .

[jpjp100] 04/11/2023 21:31

Looks like it has gone to dbay. It got a bargain imo

[lpavlou] 04/11/2023 12:37

Done deal now. Was an Arb play but share price is now at the takeout price. Those stake building since the takeover, will still have made money, with very little risk

[kirmich] 03/11/2023 14:27

Sandgrove capital up to 5,75% of the shares, lots of things happening behind the scenes

[battlebus2] 03/11/2023 13:52

Last man out switch the lights off.

[jpjp100] 22/10/2023 18:43

Needs to be 130p per share imo.

There is no credibility in any claim that the company is worth less per share than it was back in April 2018.

[forensic] 20/10/2023 16:43

Meetings adjourned - not enough support. The Board of Directors seem to be out of touch - have they been offered some nice cushy jobs under the scheme?

[jpjp100] 16/10/2023 18:10

Latest filing by Samson Rock shows it selling 795k shares

[jpjp100] 13/10/2023 08:04

I voted against too

I see that dbay announced its holding at 24.83%, so it could be well on the way to getting over the line



Sand Grove Capital Management LLPO has popped up with an opening position of 2.21% mostly acquired at 109.74, which is quite interesting

[forensic] 12/10/2023 23:11

I've voted against the deal.

[jpjp100] 10/10/2023 18:55

Maybe Samson Rock Capital is acquiring shares more quickly than dbay just now?

It is up to 7.64%

[jpjp100] 05/10/2023 08:31

Samson Rock Capital's holding in FIF is up to 4.11% now (and then 6.11% as reported 6 Oct)

Berry Street Capital Management and Cigogne Management are two that have increased their holding (directly / indirectly) too

It is still going dbay's way, but not wholly smooth sailing yet

[jpjp100] 26/9/2023 07:38

Good results with rev +16% and EBITDA +8.8%

More importantly, solid plans for the future. A 5 year automation strategy and more.

Mostly written (it seems) before the dbay bid came on the scene, but perhaps signalling something like it being in the pipeline, Duffy says in his review "The Board continues to explore opportunities to accelerate the growth of the Group through targeted acquisitions and strategic investments. Our strong long term credit facilities provide financial flexibility for the Group to pursue bolt on acquisitions as they arise, however, our low equity rating makes it difficult to deliver on our significant growth ambitions via larger transformational deals even when these opportunities meet our returns criteria."

[jpjp100] 24/9/2023 19:16

I expect this bid could flush out other interested parties.

110p is too cheap.

134.50 - the current all time high from Sep 2016 - could be in play again.

I am not saying that dbay won't end up taking control of FIF, but the share option (that the CEO seems to like the sound of for a wodge of his own holding) is a basic way of trying to stop the current big holders from saying no and just pushing for more cash.

The next move by Ruffer and Fidelity will be key to how this plays out.

[battlebus2] 21/9/2023 07:17

Update from LDG this morning about alternative to taking the cash etc.

[jaknife] 20/9/2023 19:52

At a guess DBAY have been buying, they should if they want to increase their chance of no one out-bidding them.

[kirmich] 20/9/2023 19:50

Also important, who is buying today, 13 million shares today, about 10% of the outstanding shares. The notifications the next few days will be interesting.

[lpavlou] 20/9/2023 19:36

The share price shot up virtually to the take-out price which is odd. Ruffer and Fidelity dont appear to have accepted, which is strange, unless they think there is another bidder out there.

[ntv] 20/9/2023 17:45

I think it might get rejected Smithie6
Dbay like to get a bargin as battlebus2 says
Some buying just over 110p today so maybe others think it could go further

[smithie6] 20/9/2023 12:26

..the MD is not that impressed by the cash option & is imo taking mostly non voting shares

So, a chance the deal might be rejected by shareholders

[smithie6] 20/9/2023 10:00

Surprised by the price for the offer, only 10% higher than the price was only a short time ago.

RNS says recommended offer but the RNS text says that the offer is not recommended by the bod nor by the co. broker. Seems strange.

Will the big holders decide to take the offer or reject it ??

[battlebus2] 20/9/2023 09:02

The more I look at it the more this is a steal a 110p.

[ntv] 20/9/2023 07:55

interesting times . I was just thinking about topping up my holding here ahead of the results but never mind
Not sure it is a done deal though. Lets see what happens. Good timing by Dbay i have to admit

[battlebus2] 20/9/2023 07:15

Yes very nice but not a fantastic price then again.