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Real-Time news about Enneurope (London Stock Exchange): 0 recent articles
|mike crowsoft: Its not a problem.
You are guarenteed 19.46p.
The current ENN bid of 41p makes an ENU share currently worth 20.66p.
You know your downside, and any rise in ENN shares is an added bonus, as you will probably have a week or two to decide.|
|kombimatec: Bruce Rowan is the Chairman and holds about 20%. He is commited to improving the share price performance. He sees that as his challenge this year. The cash they have is too much for their needs so distribution is likely. Their normal investment level is about 200-300k so they will have to find several opportunities to use up this monies so distribution by way of a special dividend is my belief. That should have an impact on the share price.|
|kombimatec: Mike, this was obviously a good call on your part warning of the potential. I therefore would like to draw your attention to another good value company. It is a small investment company priced at more than 50% discount to it's net asset value. It's not unusual for an investment company to be at a discount to its' NAV but when you consider more than 50% of the NAV is in cash then it surely must be money for nothing, and the assets are free! The chairman is currently building his stake but when he has pocketed enough he'll do something about boosting the share price. Let me know if you or anyone would like to know more. This may be regarded as a bit of a ramp, and maybe it is but if one examines the facts then one can make up their own mind. P.S. I purchased my ENU last April so very pleased with the outcome.|
|mike crowsoft: LOL!
Are your lawyers on a no win no fee basis ?
I reckon there will be a maximum of 5.4mln new ENN shares issued should the remaining 20% of shareholders elect to take the stock.
I would guess that half would take the cash, and half the stock, meaning that 2.7mln new ENN shares would hit the market.
Again, if we assume that half of these would be sold at current levels, its hardly going to make any impact on ENN share price.
All the above figures are pure guesses that could be wildly inaccurate.|
|mike crowsoft: BB
I see it completely differently!
With the share price below 17p, Arlington have much incentive to exercise the put.
Even if it were a bit higher, they would have to consider it.
They own 70% of a Polish cement company.They are financiers, not Lord Hanson's, and I cannot see any reason that they would want to be a majority shareholder in ENU for much longer - a large shareholder in ENN, yes.|
|britishbear: Mike, I agree that that is the only way they will stay independent. Issue is what is the probability of it not being exercised. The fact the share price is below 17p would be one reason of course.|
|mike crowsoft: The put, if exercised, will be at an ENN stock price 7.5% below the average of the share price in the previous week.
I would rather own ENN shares in the low 40s or high 30s than current levels, and todays fall helps.|
|britishbear: But the price they offered was never going to be enough - I was a NOIT holder at the time - it cost them close to a million I think. They could have bought a couple more cement companies instead of literally throwing it away.
The NOIT overhang will also hold the share price back until removed. TEO (a large holding of mine) has had a NOIT hangover for a year or so it is has only just been taken out.
The liquidity of ENU means it could take some time to shift 1.5 million - this may be why the 17p gap has not been closed. NOIT are committed to selling everything at virtually any price - hence the lack of movement from ENU.
I think one can afford to wait a little longer before buying into this one although I do think that cement will pay in the long run.|
|hugepants: but just think 'what if'. What would that kind of trade do the share price?|
|kombimatec: Altrium Capital(acting on behalf of ENU) called yesterday to check we had received the offer documents for NOIT and find out if we had any questions. I advised them we were not impressed with the deal and even more so since ENU share price had fallen and NOIT's NAV had risen. He acknowledged the facts.|
Enneurope share price data is direct from the London Stock Exchange