Enodis Share Discussion Threads

[cyberpost] 09/4/2008 18:22

Re share price movement




RNS Number:0298S
Enodis PLC
09 April 2008


FOR IMMEDIATE RELEASE 9 April 2008
Enodis plc
("Enodis" or "the Company")

Statement regarding share price movement


The Board of Enodis notes the recent rise in the Company's share price and
announces that it has received an indicative cash proposal from The Manitowoc
Company, Inc. ('Manitowoc') totalling 260p per share. The 260p indicative
proposal is inclusive of the right to receive from the Company a payment of 2p
per share in lieu of the 2008 interim dividend. On the basis of this indicative
proposal, the Company has granted Manitowoc due diligence access and will update
the market in due course as appropriate.

The Board of Enodis confirms this announcement has been made with the consent of
Manitowoc, however there is no certainty that a formal offer will be made for
the Company.

[2shemshersingh] 09/4/2008 16:52

wow, why the sudden lift in price and volume after 3pm.

[whonosewhy] 19/2/2008 17:14

I think that is a pretty good trading statement followed by a nice rise again today. I hope I have read this right but despite the challenging environment they are saying they still expect good growth in business.

They make mention that nothing has altered their opinion since the Sept 07 announcement but the share price then was around 180p. Bid talk was around in Oct/Nov.

The funny thing is that in a slowdown people reduce what they spend.

So those that normally eat in an expensive restaurant would reduce their spending by going to a cheaper restaurant, those that have been eating in cheap restaurants might go to Pizza Hut or McDonalds, maybe even down to Subway but Enodis supply to them all.

As they say we all have to eat - and someone has to cook it - if we don't cook it for ourselves then Enodis have their market.

Just seemed that maybe something was going on because we have seen a little rise now this week and it did not seem to be in response to the trading statement and wondered if something was going on in the background.

[2shemshersingh] 20/11/2007 07:42

the results were not that good and we may see a sell off today.

[2shemshersingh] 16/11/2007 17:17

i think the stock should be trading at around 183p level unless the results on tuesday suggest otherwise.

[soulman08] 15/11/2007 21:34

so are you saying the premium is 10 t 15p, i think not.

[2shemshersingh] 15/11/2007 20:21

i think people that got sucked into this stock thinking of a bid have started to exit. Rumours lose their strength. I think the stock requires direction and that will come from the results. Any bidder would await for results prior to making an offer. They would get an idea how well the business doing, this information is difficult to request by a competitor unless they confirm their bid intension and request shareholders of enodis to open their books up for inspection. I think they will gather reserch from public annocements and assess the true valuation levels. I think a usa bidder will not be concerned if the decline in profits is due to currency difference between the cable and pound. I think they will see how well enodis have been able to keep up with increasing material cost and maintain their profit margin levels. The charts indicate the stock could retrace to 190p and if close below may test the 183p level. I may buy a few shares at these levels just incase the results impress and the bidder confirms their approach. At 195p level the stock is currently pricing in some kind of bid premium.

[2shemshersingh] 12/11/2007 19:58

i think the stock is worth picking up arround 190p level just in case a bid materialies, if not the stock could be a chart play. Buy at 190p and sell at 207p.

[2shemshersingh] 12/11/2007 19:53

the price of the usa dollar being so weak, i'm confused how the USA company can offer a substantial premium from what they offered last year.

[book4] 08/11/2007 11:52

starting to move...

[book4] 08/11/2007 10:39

ENO... hearing bid from US co. Manitowoc imminent @ 270p !!!! possibly today

[book4] 08/11/2007 10:14

ENO... hearing bid from US co. Manitowoc imminent @ 270p !!!! possibly today

[matthewa5] 31/10/2007 14:25

ENO Bid talk, They are suggesting a possible bid later this week. Lets watch and see.

[2shemshersingh] 25/10/2007 20:40

looks like the stock bought in anticipation of a bid will gradully retreat as no news is forthcomming.

[poppa07] 23/5/2007 15:58

Nice rise today.
Anyone fance a stab at this?

[grigor] 04/9/2006 01:34

Scotland on Sunday
Sun 3 Sep 2006

Catering for good value
DIRECTOR DEALINGS
PERRY GOURLEY

AFTER dismissing potential offers which they argued undervalued the company, directors at catering equipment group Enodis have backed up their confidence about its long-term prospects.

The board of the ice makers-to-food fryers manufacturer last month snubbed a 195p-a-share from US group Middleby. Days earlier talks between Enodis and another US suitor who proposed a 220p price had also ended.

The Enodis directors said the latest offer failed to recognise the value or potential of its business. Since then three directors, including chairman Peter Brooks, have together spent more than £73,000 to increase their holdings and take advantage of a steep fall in the share price following the ending of bid talks.