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Eaga Share Discussion Threads
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It's all about not losing in this game as far as I'm concerned so with that in mind I do the following now.
Always come out after a big rise, some people will argue it may go up higher, but forget that it can equally go back down as well. A profit on paper is just that and is not as good as it is when it's in your bank account, I prefer to quit wile I'm ahead.|
|Nibbling at a few SPGH insulation maker PE of under 5|
|This is the first share i have owned that is now party to a takeover, what is the normal procedure? What is the share price likely to do? Do you sell or take shares in the new company? .... any tips would be appreciated.|
|For those that held through the dip and have been rewarded, well done.
And, a quote too for you:
"...The stockmarket is just a mechanism to transfer money from the impatient to the patient..."
(I think) one of Mr Buffet's|
"Irrevocable undertakings have been received from the
Eaga Directors, and from Eaga Partnership Trustee Limited
and Eaga Partnership Trustee Two Limited (together, the
"ePTs") to vote in favour of the resolutions to effect
the Scheme in respect of 102,520,847 Eaga Shares (representing,
in aggregate, approximately 40.8 per cent. of the existing
issued share capital of Eaga)."
... mean that there can't be any counter-offer?
Looks like there's still quite a lot of buying going on...?
Having bought at 70p a couple of weeks back, I'm rather pleased...|
|Yep - nice way to start the day!|
|Is it the Germans or Canadians after the company ??|
|what?? sounds odd?|
|could it be that tescos (or similar) are after the PV business.
Broker upgrade target 100p|
|Liarspoker thats my take-hope.|
|Got a few of these near the close. Reckon that if the bid comes through she'll come in at around 110-120p possibly more if necessary funding is all sorted.|
|Can't believe you had £1100 per point spreadbet and you closed it out last week mate. That's rough :-(|
tivoliworldgaming - 27 Jan'11 - 12:05 - 563 of 574
I like to share my misfortunes or I feel to beaten up with myself. I guess knowing my luck you are right with your £1 target.
If this happens I can see myself giving up the shares. I be like one of those people on Deal or No Deal who took 9 grand, when they really had £250,000 in their box.|
|The RNS would appear to indicate that the offer is due to a belief in PV. Not sure what the future value is. Perhaps another consideration is to start by looking at what value the employee trust and directors had at ipo. IIRC the ipo was at 181p and directors had c2%/£6mn each. At today's share price they would be accepting a mighty loss but might just be happy to see the money?
Personally I think the trust is the biggest obstacle. They have a duty as trustees to act in the best interest of beneficiaries. If their holding is c50% down on float you can imagine that they would want to see a price struck some way north of this to justify selling.
Worth a punt.|
|Anyone got any views on what a realistic fair value is here ?
|Still stand by my view of the company re its operation but a potential offer for the company makes this an interesting play. Employee benefit trust and bod/smt hold c45% by my calculations and thus control whether a buyout can proceed. IMO I think they will look for at least 50% more than today's share price for a sale to go though.
|nico - You make good points, and it sounds like you know much more about EAGA than I do! Ah well - I guess only time will tell?!
For now, at least, market sentiment seems to be pulling us north. I for one will be happy to watch it rise for a while, then I'll review the situation.
|i will eat my own words....sorry chaps..|
|eeyrcr - I agree with your logic about the WF profits and the overheads strategy, but in my opinion this isn't quite as simple as it seems. Take the HQ for instance - its cost will be largely covered by the WF operation, so facilities, IT, HR, Contracts, etc, will be largely subsidised through WF. When you take away WF then you lose the need for c700 back office employees and all the associated infrastructure that goes with it. When this happens the need for such a large office will be an questioned.
The depots will be covered largely by WF install revenue. Take WF volume away and you now need the depots to cover costs based on CERT/CESP work, private or contract heating works, and PV installs - I'm not saying this isn't possible, just that it makes life more of a challenge.
Look at where the carbon revenues come from - for every install under WF eaga will generate and trade a carbon saving and split the proceeds with DECC. Less WF installs mean less carbon trading which in turn means less profitability for carbon services. Sure, CESP and CERT will still generate some carbon trading but IMO not at the level of WF.
I'm not an accountant but I'm told that goodwill gets written off against the P&L. Consider what was paid for the acquired companies and what there value was based on - heat, jd heating, millfold, afring. These are all on the balance sheet and I expect will need to be written down at some stage. If that happens this year the profit left starts to look very small, the challenges mighty, and the prospects (whilst good) not as soon to happen as they might like.
I could of course get it completely wrong, but surely that's what these BB's are for? I'm quite happy to take on board your and others views as you might know/think something that I don't/didn't.
IMO DYOR, blah, blah, blah.|
|nico - Yes WF was a cash cow, and provided a huge amount of turnover, but it really didn't provide much profit (around £8m from memory?).
Assuming they can scale back the overhead as quickly as WF is scaled back (which is presumably what they've been doing with their £10m of restructuring already), it shouldn't affect the bottom line too much in my opinion.
But then hey - what do I know!? :o)|