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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Dawson Hldgs. | LSE:DWN | London | Ordinary Share | GB0002584562 | ORD 1P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.00 | 0.00% | 18.00 | 0.00 | 01:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | O | 0 | 18.00 | GBX |
Dawson (DWN) Share Charts1 Year Dawson Chart |
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1 Month Dawson Chart |
Intraday Dawson Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 31/8/2011 | 14:55 | Dawson Holdings - a nice recovery play? | 1,329 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|
| Top Posts |
|---|
Posted at 10/8/2011 16:33 by edmundshaw NWS. Smiths News are buying DWN and should do well from it: a good price, good fits with Bertrams & their news arm, so synergies to be expected. They also found savings from the contracts won from DWN, so they seem efficient.Last but not least, they are cheap & have an attractive dividend near 9%. John Lee (of the FT) likes them too. OK that's the last but not least, sorry! :) Not risk free, and of course the print market is declining (though slowly). There is also debt, but that looks quite manageable, and is reducing. But please dyor. I have already bought there from my cash holdings; DWN cash will top up that cash again (plus a bit :)). |
Posted at 07/6/2011 19:23 by markt Dawson almost doubled recently...offer...looking round to see any other companies as attractive bid targets ILX would make a good acquisition for another company imho...elearning etc, has products available on line for purchase incl. 'apps'. (see what apps download numbers + RNS did for Cupid share price !, 130p to 190p in a few days) OK, ILX is not very apps exposed at present....nothing stopping new products to expand in that area... With declared expected 1.4M PBT (see RNS)....if buy the co. and get rid of 1/2M dirs. costs, 1/2M say for AIM, 100k for other dirs, pay off the debt to save 100k ('were' paying high % , now lower, now down to approx. 1M on next accounts imho) and maybe bits and pieces to add up to another 1/2M then 1.5M cost saving maybe... 1.4M PBT + 1.5M extra profit due to cost reduction = approx. 3M. And cap. value is only 7M. (cap. value is less than turnover, unusual imho) CAP. VALUE/EBITDA = 2 ! Super cheap !..too cheap And global sales. offices abroad. Rapid growth in sales. And 1.8M PBT pencilled in for next year. The price doesn't make sense to me, except that perhaps the market needs to see the actual annual results officially published before it takes any notice... What other co. would/could perhaps be interested in a co. like ILX ? Any ideas ? (perhaps from outside UK....not many/any bigger elearning cos. in the UK that I can think of)....there is a smaller elearning co. but I assume they could not afford ILX.... Pearson are interested in elearning and doing acquisitions...but not in the specific products that ILX currently offer I think...professional qualifications...whe In USA I assume there must be some elearning cos.....an acquisition to provide cross selling, access to overseas sales offices...surely useful for some co. out there.... |
Posted at 07/6/2011 17:48 by cockneyrebel "by providing the certainty of a cash offer at a significant premium to Dawson's share price"That looks like an advert to the other bidder that are about that they need to stump up cash. 17.7p is nailed on, NWS aren't allowed to back out unless something extremely material occurs, Dawsonera burning down so I'll sit back and wait for my 17.72p to come into my account and my shares to get gobbled up or I'll see another bidder move in with a higher bid. CR |
Posted at 07/6/2011 17:41 by abc125 Commenting on the Offers, Hugh Cawley, Chief Executive of Dawson said: "The Board of Dawson believes that Smiths News's offers, by providing the certainty of a cash offer at a significant premium to Dawson's share price, is an excellent outcome for shareholders. This follows the Board's successful restructuring and turnaround plan, which first rescued the Dawson Group from the risk of administration and more recently returned the group to profit growth, culminating in a number of expressions of interest being received from potential buyers of the whole or parts of the business. Looks like more than one bidder was interested. |
Posted at 07/6/2011 16:31 by davydoo Interesting point Dazzaa, I wonder how long ago the funds and PPF were first approached about the bid and possible value of an offer? makes me wonder if the announcement was rushed out a little sooner than intended to ensure there was still a premium to the market price as the share price shot up over the past few days. |
Posted at 07/6/2011 14:30 by cockneyrebel Well Smiths obviously think there's a good chance of a bid by fact of the penalty clause they have in there if DWN change their mind and go with another on a recommended. Perhaps NWS know they might have got the 'recommended' bid but it might flush out another buy that perhaps have intimated interest with DWN.Agree with markt - Pearson could benefit from DWN far more - I'd have thought there's no end of private equitiy co's that would like to buy this too on an Ebitda of much more than 3.4 and load it up with debt and refloat on AIM. if you sell off the non ebook division you're getting the e-books for a right snip imo. CR |
Posted at 07/6/2011 08:22 by edmundshaw The key to a bidding war is the extract below. The 5% and 10% barriers do not look at all robust to me, and I cannot see them putting off a serious counter-bidder. I shall hold and wait...£20m is nothing special as a bid, perhaps (including the liquidator payoff), but better than a kick in the danglies, and a quick realisation of present value, without taking into account growth (or synergies). I have no idea if a counter offer is likely, though. -------------------- Smiths News has received irrevocable undertakings to accept (or to procure the acceptance of) the Ordinary Offer in respect of 16,050,969 Dawson Ordinary Shares, representing approximately 22.4 per cent. of the existing issued ordinary share capital of Dawson, further detail of which is set out below. The Dawson Directors have given irrevocable undertakings to accept (or to procure the acceptance of) the Ordinary Offer in respect in respect of 516,476 Dawson Ordinary Shares, representing approximately 0.7 per cent. of the existing issued ordinary share capital of Dawson. These undertakings remain binding even in the event of a higher offer by a third party in respect of Dawson. The PPF has given irrevocable undertakings to accept the Offers in respect in respect of 6,519,493 Dawson Ordinary Shares and 25,623,586 Dawson B Ordinary Shares, representing approximately 9.1 per cent. of the existing issued ordinary share capital of Dawson and 100 per cent. of the existing issued B ordinary share capital of Dawson respectively. These undertakings remain binding other than where a higher offer is made by a third party in respect of Dawson where such offer is in excess of 5 per cent. of the price of the Ordinary Offer made by Smiths News. Certain institutional shareholders of Dawson set out in Appendix II of this announcement have given irrevocable undertakings to accept (or to procure the acceptance of) the Ordinary Offer in respect in respect of 9,015,000 Dawson Ordinary Shares, representing approximately 12.6 per cent. of the existing issued ordinary share capital of Dawson. These undertakings remain binding other than where a higher offer is made by a third party in respect of Dawson where such offer is in excess of 10 per cent. of the price of the Ordinary Offer made by Smiths News. |
Posted at 03/6/2011 21:22 by cockneyrebel Cheers Ernie.Schwartz column in in the paper too. I'd be disappointed with a 20p take out. 2p eps looks easlly possible this year - the year end is September. The fwd PE is what matters and these are eminently capable of 2.5p eps for the year starting Oct 1st. At 20p a share the PE would be 8 and eps growing at at least 25%, possibly much faster if e-books division really takes off. So come Sep the PE for the current year may be just 8 at 20p a share - that would be no premium at all. I also think DWN won't sell out on the cheap - the pension has a big interest in the co and they aren't going to want to give their stake up on the cheap. Thirdly, all of the staff have a big interest in DWN doing well as it's a big part of their pension - that's why DWN has been doing well imo, they are like performace related in a time when many people are seeing their pensions slashed - a good pension is a big part of peoples' peace of mind if you have one these days imo. CR. |
Posted at 31/5/2011 13:36 by jailbird looks like it Davy,agree with the ability to sell at mid-price is a good thing for the share price. |
Posted at 27/5/2011 16:41 by opener DWN will have been a holding that Schroders held in the newspaper distributor days,alongside WH Smith and John Menzies.Following the crash and burn for DWN in that market,the stock became too lowly valued for Schroders to worry about or continue researching.Even if someone like Schroders thought that DWN was set for a huge recovery of multi bag proportions,they simply could not hold enough of them (probably even 100%!) to make a real difference to the performance of even their smallest UK funds.Only option therefore is write off,probably months ago and get what you can in an orderly fashion-the decisions on the sales were made by the FM's the dealers are just executing an old decision,with no further FM involvement.This does give an opportunity for the PI though to pick up cheap stock,stay patient and reap the rewards in time.All IMO and DYOR etc. |
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