Colt Telecom Share Discussion Threads

[palace andy] 21/7/2015 09:40

My corporate action note has finally come through from my broker, if I do nothing the default option is to vote no.

Assuming I do nothing and vote no and the offer is successful, am I right in thinking that if I do not sell soon after, then the company goes private and I still have my shares until colt gets 95%, then they can buy me out regardless of what I want to do. But if they don't get 95% then I can hang on for another year or two until maybe they sell and I will get (hopefully) more money then?

[dealy] 19/7/2015 22:38

Interesting article. Compared to the resources sector the 190p bid looks fair. So many oil and mining companies are trading at all time lows right now.

[dickbush] 19/7/2015 21:41

This is old. I've only just seen it.

[dickbush] 19/7/2015 11:58

I'm at a loss to understand why Standard Life and Ruffer are selling to Fidelity at 190p knowing what the latest reorganisation will do for EBITDA and Free Cash Flow. Aren't these fund managers supposed to be long term investors? How many of their investments have such potential for appreciation over the next couple of years?

I ran through the Independent Directors' recent statement again (with a bit of effort you can find it on Colt's website) and it says that even if you vote against and Fidelity win enough shares to have Colt delisted, you have another 21 days to accept. So you should have no fear of being trapped in an unquoted situation, something that was worrying me until I read that.

[dickbush] 18/7/2015 17:39

robwt, Colt's website shows July 31st is still the date for the first half results.

As far as what they might look like, I am no longer even trying to work with the trend of last year's fourth quarter and this year's first quarter. I figure they depend on whatever reorganisation costs and acquisition related costs Colt's management decides to load on the second quarter. Will any of the analysts ask the relevant question at the post results phone-in? I doubt it.

[dealy] 18/7/2015 10:11

and Japan of course now.

[dealy] 18/7/2015 10:11

The dramatic rise in the pound over the last few weeks makes the 190p offer look more palatable. Ebitda measured in GBP will be under pressure. Remember this is essentially a German business with London added on.

[robwt] 18/7/2015 10:01

DB...Is there any change to the next Colt report in late July.

[dickbush] 17/7/2015 22:29

Potential Delisting

Fidelity has stated that if the Offer becomes or is declared wholly unconditional, BidCo intends to procure that Colt will make an application to Delist the Colt Shares. If Delisting occurs, Shareholders who have not accepted the Offer before Delisting occurs will, amongst other things, find it harder to sell their Colt Shares. However, as noted on page 5 above, if the Offer becomes wholly unconditional, it will continue to remain open for acceptance for not less than 21 days. The Independent Directors accordingly do not believe that the risk of Delisting should influence the decision whether to accept the Offer at this time.

[dickbush] 17/7/2015 10:50

Response Circular from the Independent Directors says, essentially, that Fidelity are ripping us off. The plans for the business means Colt is worth a great deal more than 190p. Fidelity are cutting us out from external bids, too. Not news but good to see the Independents are giving this situation publicity.

Note that if you vote against and FIdelity wins, there is plenty of time to sell your shares afterwards to Fidelity. So you can vote against without worrying about being stuck in an unquoted situation.

[palace andy] 16/7/2015 09:00

I agree, looks like a done deal. I have been holding for years hoping to get my money back from a disastrous investment in 2000, more recent buys have been profitable but I will still make an overall loss and there is nothing I can do about that now which is miserable to think about.

[boggy] 15/7/2015 20:57

Please can someone confirm what the corporate actions means, do I have a choice as to whether I sell my shares or will they be automatically purchased for £1.90?

[palace andy] 15/7/2015 13:52

EGM on 11th August

hxxp://tools.morningstar.co.uk/tsweu6nqxu/globaldocuments/document/documentHandler.ashx?DocumentId=92600381

[dickbush] 15/7/2015 13:39

Me, too.

I won't forget or forgive Fidelity for this. It's nothing short of contempt for the minority. I just hope that what goes around, comes around for the greedy barsteward who dreamt this up.

[dealy] 15/7/2015 13:22

I guess in the thick of the storm that we've had in the last few weeks on Greece and China Colt has largely been forgotten. Still a chance of a bid coming in before the EGM. My feeling is though that this deal will go through at 190p.

[dickbush] 08/7/2015 11:19

Their projections for growth in the company's Revenue and EBITDA were the reason I held onto my shares. Had they been achieved we would be looking at an EBITDA in 2015 of circa Euro435 mil. Ex the latest "reorganisation" we might be looking at Euro325 mil. That's how misleading that presentation was and how much more we might expect the price of the shares to be even without a bid. Excluding cash (which would be higher than we see now), the share price would be circa £2.40, at least.

The only consistent thing about change is change? The only consistent thing about change at Colt is write-offs.

[mirko] 07/7/2015 15:25

https://youtu.be/zTkn-G49jzkMuppet Show

[mirko] 07/7/2015 14:45

Colt introduceert Europees supercore-netwerk van 100 Gb/s

[robwt] 06/7/2015 10:45

A very interesting article and perhaps making it very clear that as things at Colt are looking very bullish, Fidelity want it on the cheap.

[mirko] 05/7/2015 19:03

https://uk.finance.yahoo.com/news/why-d-sell-bt-group-060626492.html

[dickbush] 02/7/2015 11:45

On re-reading the reorganisation plan, I see that I did not take into account the Euro 25mil of cost savings from reorganisation within the remaining core business. That suggests a target for EBITDA when the reorganisation is complete of Euro 365mil plus any growth in the next couple of years. I would be happy to stay in for that.

[palace andy] 02/7/2015 08:37

Citi think removal of IT Services positive and mention a raised Fidelity offer as a possibility.


hxxp://sharecast.com/news/citigroup-downgrades-colt-to-neutral-on-valuation/22992668.html