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Real-Time news about Cybit Hldgs (London Stock Exchange): 0 recent articles
|buenos aires: Andre
Please dont feel you need to reply to my comments ,I really dont mind .
You didnt see me posting when Cybits share price was 22p .The board didnt care then ,so why all of a sudden care at the 37p point . The share price was at that level of 37p nearly 4 years ago , it didnt seem to bother them ,quoting market conditions at the time as a reason .
As far as MPS ,dont you think its a bit strange that there has been no postings since 14-12-09 on the Advfn bb . Thats a fact . Not one itchy-bitcy comment by anyone .
Are you not curious what reasons the takeover panel gives for their inaction.?
These people are part of the market and I suspect only intervene in extreme cases of wrong doing . Cybit has pitched the 75p for a purpose I suspect .
Telematics fortunes are set to change for the better in my opinion ,so why all of a sudden the need to "sell" for 75p , considering Cybit floated at 150p nearly 10 years ago .
To me there is more going on behind the scenes that has been made public.
If the board was that confident of the schemes success ,I would probably be the only person here talking to myself .|
|buenos aires: Image you are a spy in Cybits boardroom a few months ago .The conversation would probably go like this.
" Well gentlemen ,as you know ,the co is doing well,very well indeed ,but the problem of the small share holders is still with us . They have been exceptionally resilient to the market's attempt to dislodge them ."
" Can we not increase the price slowly and buy them out that way ?"
" No, despite the best efforts of the market to rid them ,they now have more shares than before. In fact if they all worked together as one ,they actually have a controlling interest in Cybit "
" It all worked well for Cybit to have a low share price in the past,it enabled us to buy other cos on the cheap, but with the small shareholders in control ,approx 55% ,we are in danger of being prey to the likes of predatory hedge funds etc."
" So what do you suggest is the best way forward ?"
"Well ,we cannot give anyone the true picture at Cybit ,especially with an audit looming in the interims . So the only effective action is a management buyout ,but it has to be disguised as a take-over . "
"Our advisors have suggested that we pitch at 75p per share ,and they have assured me that at least 15% will sell . In case they prove to be stubborn ,we reserve to make a full blown bid at a slightly higher offer ."
" Is there a risk of an unsolicited bid ?"
" Yes , a slight one, but only in the first 2 weeks ,after that we should have close to 50% or more in the bag. There should be enough fast buck merchants out there for us to achieve our goals. "
" Ok then , we are all in agreement ,lets do it !!"
If you think you have a more plausible reason for the management's buy out, please post here.|
|dealit: The financials of CYH are very impressive and a share price of 36p was undervalued but in saying that there is no guarantee the share price would have ever made 75p let alone £2, £3. Sentiment is what rules the stock market not a Companies worth on paper.|
|buenos aires: I would guess that there has been a lot of interest in Cybit of late .
With perhaps 50% of the shares held by "fickle" small shareholders ,and not to mention 1 or 2 institutions keen to show a return after holding for over 3 years or more , Cybit was very vulnerable to a chancer take-over by anyone wanting to buy Cybit cheaply ,or consolidate their own losses ( MPS comes to mind ) ,or simply a private equity seeing an opportunity to make a killing .
Whilst this has always been the case ,with perhaps over 60% of shareholders of all discriptions solidly behind the co ,it was unlikely to succeed ,except with a realist offer of at least £2 per share . Even at this price it was not a foregone conclusion of success if the board resisted it ,so an offer of around £3 per share would be needed . At that price it valued Cybit at todays value ,of what we know now ,as there has been no 2010 interims data to analyse to date.
So its unlikely to be this threat ,that has made the board take this strange action .Ok ,you ask ,what is it ? .
Its pure speculation on my part ,so please dont take it as fact ,because I am not privy to inside information .
1. The Government wants to buy Cybit ,but does not want to be seen to own the co .
2. Mr Horsman wants to become an MP ,so cannot continue in charge .
3. Security reasons that are best not discussed here .
4. The time has come to ditch the small shareholders ,now that major or global contracts are in the pipeline ,so the need for large investments requirements could be true.
5. Some unknown arrangement from many years ago ,now has to be fulfilled .
6. Once divis are announced ,the small shareholders would be even more difficult to shift ,so hence this exercise .
7. There is a takeover target that necessitates a share split ,but its prudent to get rid of small share holders first . ( could be inviting clandestine stake building )
8. The directors are fed up with all the regulations of being a listed co ,and might as well take the co private and buy it on the cheap while they are at it ..
9. Its audit time and independent assessment of the co finances will have to be shown . ( No way could you keep the share price suppressed with audited figures .)
The above are in particular order
There may be more reasons ,but its only speculation on my part . The thing that annoys me is the way we ,as small shareholders have been told to clear off the premises , with the 75p per share - It would have been a lot lower if they could get away with it - , when we all know Cybit is worth much more.
PLEASE GET YOUR SHARES IN CERTIFICATE FORM , ,EXCHANGE THEM INTO "SCHEME SHARES " ,AND VOTE NO AT THE MEETING , ( THEY NEED A MINIMUM OF 3/4 TO PASS THIS BOOTING OUT OF SMALL SHARE HOLDERS . )|
|sanity: Hoodless update
CybIT Holdings (CYH, 70.5p, £19.4m) The share price has risen by 96% this morning following a cash acquisition by Bidco, a private equity firm, for Cybit at 75p per share, which values the business at £22.8m. We have been buyers of the stock since September. We reduce our recommendation from a Buy to a HOLD, but upgrade our target price from 56p to 75p.|
|acky37: I'm no expert but i would say that this stock is heavily underpriced does anyone agree/disagree and what would be your opinion of a fair price? I would give a price myself but i am not qualified to do so, this is the only stock that i own and i bought way back when the shares had gone from .25 to 1.23 that is when i bought they then went above 4 and i didn't sell, silly me, and they crashed back down to less than i payed for them. I think the shares were then exchanged 50/1 meaning at todays prices i would be even at around 60p. I'm still hoping for that big surge in share price to come back, surely they should be worth more than this, any views much appreciated cheers Craig|
|sanity: Dividends may be a long way off with Cybit, the board have made their intentions clear that they plan to do so in the future. So I have put the following scenario together and will leave you to suggest the resultant share price
£0.01 Interim Dividend
£274,517.68 Distribution to Shareholders
£0.50 Assumed Share Price on Interim Announcement
2.00% Yield for 6 months
? Share Price Post Interims|
|mgstone: colcard - yes well noticed! Interesting move by bllm, we were expecting them to be selling into any strength but even they can't resist a few more now lol.
If and when there is any sign of recovery in the markets in general, this will help CYH share price somewhat and also encouraging is that the fact BLLM have added suggests there won't be any rumours of a big seller now.|
|bearstalker: LP, the comparison you make with EIT just shows how ridiciously low the Cyh share price is and how undervalued it is. My bonus gets paid in Feb and if CYH continues to weaken in weeks ahead i just see this as a golden buying opportunity. I've said it before and I'll say it again, every time i buy a cybit share I get the nice feeling that I'm tucking a pound note away in my savings. Naive? I don't think so, all the track record, contract wins, turnover growth and increasing profitability comforts me.
So, is there anything that frightens me with Cybit? Yes, the share price falling to 30p due to general market conditions and someone buying us out at 50p !!!|
|bearstalker: Oh thanks for that! I've held for 4 years so another couple won't hurt me, I know patience is a virtue but its difficult when I've got a little in Autonomy which has shown 50%+ a year over last two years and this trundles along.
On the other hand whilst cyh share price hasn't done anything much the company itself has grown by leaps and bounds and I'm imopressed by the maturity and long term goals of the management - almost unAIM like!|
Cybit share price data is direct from the London Stock Exchange