Hartest Hldgs. Share Discussion Threads

[ls lowry] 10/10/2009 10:02

Thanks i thought EKT was someones initials.

[whiters] 10/10/2009 02:14

Do some research look back on the board then you can comment:- EKT electron hold 23% bought in at 62p PG Peter Gyllenhammar 29% bought in average 82p + holding costs say 73p; Old Owners/ directors 10%. So not a lot of free shares.

[ls lowry] 09/10/2009 19:10

New to these bulletin board threads so might need some help.

Who are these guys PG and EKT ? Are they institutions or high worth individuals.

I too have sold some shares as worried the deal wont come off.

[snowman10] 09/10/2009 18:44

I agree, its getting the 2 blocking holders to go with it.
Both paid more than 60p i think??

So why should they?
If not its back to the old price and a dripping dividend.

Again i i have to take some out as 125% in 6 months is too much to give up on.

How much will DELTA pay? maybe 60p, but if the others say NO we are doomed again.
Comments please

snow

[whiters] 09/10/2009 11:38

In fact pity HTH can't buy Delta. It looks to be a good company.
Don't take too much notice of Delta's balance sheet its a private company owned by private individuals, they will take the cash out and leave a balance sheet just able to support the trade. In a private company there is absolutely no point in building a balance sheet, if you sell the company the assets are at the most worth £1 for £1 but usually discounted, if the company goes down you lose the lot, hence one keeps the shareholders funds to minimum. Delta looks to be an ideal home for Hartest and the guys behind it probably have the cash or can get it.
THE PROBLEM is PG and EKT and their egos, will they be prepared to be sensible or not. Time will tell. (Sorry for shouting!) As HTH have indicated that they will reintroduce dividends I'll hang on for the moment, I'll probably regret it as I have turned down in the distant past an offer for £1.20 and then an offer more recently for 65p a share so this time I'll probably accept!

[whiters] 09/10/2009 11:06

I agree with Spec7 pity Hartest cant buy EKT. However I've been in these since Noah was a lad and I'd probably accept 60p or so! Just so I could move on and get a life!

[spec7] 09/10/2009 09:13

EKT does not have the cash in hand to buy this full stop so forget them.

Lowery, Dont take ant notice of TS, as a major holder of EKT he has an intrest in HTH. Great shame HTH cant buy out EKT really !

[snowman10] 09/10/2009 08:26

I am not sure if DELTA is a uk division of a much larger operation.
Who is the bidder?

I sold some yesterday as i am not sure if this deal will go ahead.
The two parties that control this have the final answer.
As such with a cost of 20p, i am happy to start and unload at 45p.
The fact is its worth 100p but unless PG or EKT offer that we may never get close.

So i am dripping some of my largeish stake away.
I followed CAS TIGER into this and i am not sure if he is selling yet as well.

snow

[ls lowry] 08/10/2009 20:38

Guy from iii called Target Setter says he has Delta accounts which show shareholder funds on Delta as being £1.4 million. He further states that the deal will fall away. Mexican stand off could be right. If TS is right about Delta's finances they may struggle to increase their offer.

[baner] 08/10/2009 19:42

totally agree with Arthur Lame/Whiters - should clearly allow bid price towards 75p or better.

[whiters] 08/10/2009 19:27

Not at all a bad idea! Arthur. In fact a very good one.

[arthur_lame_stocks] 08/10/2009 19:20

Why not sell Medical division, empty property and then the rump to Delta if that's what they want?

[whiters] 08/10/2009 19:12

Trouble is the wont or can't work together. PG and Electron that is so stand off. They tried to in June but all fell apart, so I hear. No I think this will be sold; but for what price I really can't tell, I would guess at somewhere north of 60p and less than 75p. Also break up risky in current climate, things change so fast.

[baner] 08/10/2009 18:31

re Whiters;

interesting comments, thanks. PG and Elektron must have any interest to maximize the value of this - so why dump it to Delta when they could get double the money by breaking up? i would be very surprised if Gillenhammer/Elektron surrendered that easily!none of them seem to be in a need to flog off assets - PG is said to be seriously rich and Elektron´s finances are in absolutely good shape.

[whiters] 08/10/2009 18:01

Hi barcelona4.
Don't disagree with your comments, however think the offer will have to be increased to at least 62p before PG will accept and feel the board will probably hold out for this. 62p is his purchase cost whilst nearer 72p is his holding costs. If Electron sell we will be back in a Mexican stand off. The last thing we or the company needs.
I also agree with baner the company must be worth £1 a share on break up, it all depends on Electron and PG.

[baner] 08/10/2009 17:10

it seems realistic HH could make £1m of EBIT this FY - still only 5% of turnover. add back central costs and the "operational EBIT" increases towards £1.5m.

the vacant property is worth approx what the net debt is today.

accordingly the Enterprise Value is roughly the same as the market cap of the company.

at 50p the EV is thus ca £4.3m and the "offer" represents a ridiculously low EBIT-multiple of 2.9 !!!

Hartest has some really attractive growth companies in the group and substantial costs have been taken in order to enhance efficiency for the future.

an EBIT-multiple of 6 is still rather cautious - and would generate an EV of a more realistic £9m or 100p/share.

this still only represents ca 45% of turnover.

almost 5 years ago HH raised funds at 50p - is that what Mr Spink believe is what shareholders should be happy with after all this suffering?

surely Gillenhammer and Elektron cannot be happy with this bottom-fishing attempt?

[barcelona4] 08/10/2009 16:48

Delta is the ideal company for Hartest Precision to get involved with.Shouldn't think they'd be interested in medical div (who would be??)or Agar.
Agar is/used to be a very nice stand alone business worth £1mm+ and should interest larger lab.supplies companies.
Would hope for 60-70p but whatever is offered I would personally be pleased with
it as my original £375k shareholding was worth less than £10k last week.
What do you think Whiters??

[snowman10] 08/10/2009 13:56

worth at least 50p

[cyberpost] 08/10/2009 13:11

Statement re possible offer at 50p (Hartest)

RNS Number : 4734A
Delta Controls Limited
08 October 2009


Delta Controls Limited

Statement re Possible Offer for Hartest Holdings Plc at 50 pence per share The Board of Delta Controls Limited ("Delta Controls") announces that it has made an approach to the board of Hartest Holdings Plc ("Hartest Holdings") and is in preliminary discussions with a view to making a cash offer for the whole of the issued and to be issued share capital of Hartest Holdings at a price of 50 pence per Hartest Holdings ordinary share which values the entire issued share capital of Hartest Holdings at GBP 4.3 million. The Board of Delta Controls reserves the right to lower the price subject to the approval of the Hartest Holdings board.

On 1 July 2009, Hartest Holdings went into an offer period as a result of the announcement by Elektron Plc that it, along with an unnamed third party, was
considering making a joint offer in cash at or around 25 pence per Hartest Holdings ordinary share for Hartest Holdings. Subsequently, on 26 August 2009,
Elektron Plc announced that it was no longer considering such joint offer for Hartest Holdings. A price of 50p represents a premium of 122% to the share price on 24 June 2009 of 22.5p, prior to the rise in share price and announcement on 1 July 2009 of a possible offer by Elektron plc; and a premium of 41% to the closing share price on 7 October 2009 of 35.5p.

Delta Controls is a private limited company that is wholly owned by members of its management team and has more than 50 years' experience in the design and manufacture of high quality instruments for process monitoring and control applications worldwide.

The Board of Delta Controls believe that there is a strong commercial and strategic fit with Hartest Holdings and that the prospects of the Hartest Holdings businesses and its employees will be significantly enhanced in a privately held group with a stable, long term shareholder base. It is the intention of Delta Controls to develop the Hartest Holdings business for the long term.

Delta Controls confirms that should an offer be made, and it becomes unconditional, it would be the intention of the Board of Delta Controls to respect the employment rights of the employees and management of Hartest Holdings and any subsidiary companies.

This announcement does not constitute a firm intention to announce an offer.

[spec7] 10/9/2009 22:27

ALS
You could but it would be rather daft :-)

[arthur_lame_stocks] 10/9/2009 21:47

I bought my shares for less than 20p and i'm pretty confident i'm going to get at least that for them. Can you actually short this stock and why would you bother?

[spec7] 10/9/2009 18:28

IF Gyllenhammar were to bid i suspect that EKT would not be looking for a cash price but a slice of HTH...like Sheens ? which is probably all they would have kept had they gone ahead anyway. I think EKT backed down because there were other better plans in the offing...

[whiters] 10/9/2009 18:23

My information (for what its worth) is 62.5p or what I should say is that i have been told that EKT will stick out for 62.5p If they get it or not is another question.

[whiters] 10/9/2009 18:17

I haven't! I have held for 14 years!

[testingurtech] 10/9/2009 18:12

or lets say at what level DO U HAVE URS @ ?