||EPS - Basic
||Market Cap (m)
Chesnara Share Discussion Threads
Showing 1401 to 1424 of 1425 messages
|Rest assured Dozey3. It doesn't look as if the board wish for the trouble and expense of making a multitude of tiny allocations. They've given themselves the power, if they think fit to exercise it, to pass all the Excess shares in one package to an single holder or small number of holders of their choice.
The documentation makes clear:
"Allocations in respect of such excess applications will be scaled down pro rata to the number of Excess Shares applied for under this Excess Application Facility by Qualifying Shareholders or allocated in such manner as the Board may, in its absolute discretion, determine and no assurances can be given that the applications by Qualifying Shareholders will be met in full, in part or at all."
Of the 23.33 million new shares being issued 18.67 million will be placed leaving only 4.66 million available for the Open Offer. (There are 126.40 million shares on issue at present. 4.66 is 3.69% of 126.4 - Hence only 3.69 Open Offer shares available for every 100 held). Likely most of the 4.66 million Open Offer Shares will be taken up leaving very few shares to be allocated under the 'Excess' terms.|
|jonwig - No probs re interview link. Nice to see that they get the importance of the dividend to their shareholders. Have held CSN for long time & is one of my largest holdings. Currently giving me 9.5% return on cost. Wish all my holdings were like that!To be fair to CSN, info on limit to Excess Application Facility of Open Offer was also included in last weeks rns (under Structure of Issue), although admittedly not prominent. I find that type of info rarely is. Have applied for excess but expect it to be greatly scaled back.|
|It seems a no brainer to apply for as many extra shares as you can afford within the double-your-holding limit. However that means a likelihood of huge oversubscription for very few residual shares, which gives CSN an administrative nightmare doling out penny numbers of shares. It may be a shrewd deal they got themselves, but this open offer is poorly structured IMO.|
|Yes, but you don't find it until p.52 of the prospectus!
Qualifying Shareholders are also being given the opportunity, provided they take up their Open Offer Entitlements in full, to apply for Excess Shares through the Excess Application Facility up to a maximum number of Excess Shares equal to two times the
number of Existing Ordinary Shares...
It should have been given greater prominence.
speedsgh - thanks for the video link.|
|Hargreaves in an Open Offer update today state that it has come to their attention that there is an excess application limit of twice the number of Ord shares held in your account on 23.11.16.
Wasn't thinking of going for that many anyway so no bother.|
|ProactiveInvestors Stocktube video interview with John Deane, CEO...
Chesnara now has 'real scale' in Netherlands says CEO Deane - HTTPS://youtu.be/_4xwVZQG7Z0
Chesnara’s (LON:CSN) deal to buy Legal & General’s Dutch business added 7% to its market value as investors reckoned it was a canny bit of business. John Deane, chief executive, explains that not only does it give it real scale in the Netherlands, it makes it a credible buyer for other assets that may become available in the country. Chesnara’s aim is to be the least troublesome share in an investor’s portfolio, he adds, and deals like this make that ambition easier to achieve. At €160mln, the business is being bought at a large discount to its cash generation potential. It also means Chesnara now has close to £7bn of assets under management and is a sizeable player in all three of its core markets.|
|Yes, TDD does. I've rather optimistically asked for a further thousand. Maybe I'll get a few, as there are always people who ignore these things.|
|Some stockbrokers e.g. Interactive Brokers, allow you to take part in the excess offer, others not it seems.|
|Very pleased with the latest acquisition.|
|I wonder which bean-counter came up with the figure 0f 3.69 new shares for every 100 held, roundings disappearing into the ether of course. Why not 3.7 for goodness sake.
Still, musn't grumble, a sight better than a building society account I think.|
|No buying opportunity for me then. Not this time. Looks to be a very good deal.|
|Yes, miserly shareholder offer but price discount to current share price insignificant.
All-in-all I won't be accumulating. Let's hope share price gets back above its recent trading range.|
|Offer is pretty meagre, 0.0369:1, and I guess they would rather have simply done an institutional placing which would hve been lots cheaper for them. But listing rules wouldn't allow it.
The discount to EcV is excellent, of course - similar to PHNX's with DB - and shows how keen big institutions are to unload non-core businesses.|
|-- Consideration of EUR160 million represents a 33% discount to Economic Value
-- Acquisition enhances long-term cash generation and supports Chesnara's dividend strategy
It looks like a good deal.|
|Thanks for that I shall have a closer look at those. Although I would never feel comfortable putting money in VOD. Their regard for their customers is appalling and experience tells me those things always come back to bite you in the bum.|
|Ahhh, I see. VOD, coming down nicely yield now 6%+, CNA, ditto, LLOY, looking to get back in on the next dip under 57p, APF, waiting for the pull back to around the £ level to buy back. ADN, looking to add at around current levels, but nearer to 280 and I would take the plunge for a few more.
That's my current list, eggy. Cash waiting for the right opportunity. I'm in no hurry to buy.|
|Ah yes! Misunderstaning here. I wasn't trying to correct you, but simply ask what co's are on your watch list(sic).|
|I'm a pedant, eggy. In my dictionary the single word does not exist and needs to be split into its two component parts. Sad, I know.|
|No real idea, eggy, but CSN are well regarded so I doubt it would be at too much of a discount. 280-290 is my best guess. Max 10% discount. That would certainly tempt me back in. Watch and wait. It is one of several on my watch list at present, so I am hardly devoid of possibilities. Spoilt for choice in fact.|
|Have fairly large holdings in both CSN & LGEN so can only hope that the deal is done at a fair price for all parties concerned!|
|What price do you think a funding would be at, Your Lordship?|
|Mooted price 130m Mcap 392m might need an open offer or an ri|