||EPS - Basic
||Market Cap (m)
Real-Time news about High-Point Ren. (London Stock Exchange): 0 recent articles
|minesapint: It seems to me that the only rationale for the INDEPENDENT shareholders to promote the current derisery offer is the possibility of the withdrawal of banking facilities. The continuation of banking facilities appears to be contingent on the collection of (disputed) fees.
It seems totaly wrong that it is the CONTINUING directors (Hingley and Trendel) who are attempting (or not)to negotiate the collection of these claims. The sums involved appear to be greater than the market capitalistion. There should be a totally independent report by a qulified accessor on the collectibilty and amount of these claims. Anyone able to indicate where to find this critical information?
Incidentally shareholders have been hung out for nearly a year for this offer.
What happened to that premium to the then current share price?
Where is the rationale?
Why are Instutional shareholders seemingly so complicit?|
|hooley: Too many omissions in the MBO statement to make up my mind. My biggest worry is that the institutional holders have agreed to 4p when they could have financed the business through to the announcement of the audited accounts. The comment that the lenders MAY NOT extended the loan seems a bit shifty - what would they gain if they put in an administrator? We appear to have a backstop at 4p and even if MBO gets no more stock, the board may decide to cancel the quotation. Non-assenters would then hold 43% of an unquoted and if there was a continuing profit recovery, the should be a good prospect of a later, substantially higher bid for the balance, based on the full year's results and this year's prospects. My guess is that if there is a lot to go for the MBO will pay up to take the whole lot. If this business is able to generate £1.5m profit at the operating level, with fincing on firm footing, then a potential share price of 30p is not unrealistic. I wouldn't feel mugged if 15p or so were offered.|
|hooley: Rockbottome - Apologies, I got the point one placetoo far to the left. I think the heat's getting to me. With £1.25m pretax profit, taxed at 30%, the eps comes out at 3.4p, an implied share price of 51p if a multiple of 15 is applied.|
|hooley: This business has always been undercapitalised and constrained by the banks. At present it is back to bind they had a decade ago. Escape came when the business taken on was profitable. The share price reached 140p, but once again they are in the lenders hands. In the first half operating profit were £0.66m , before restructuring costs of £0.41m. It's not that the company doesn't generate profit, it's a problem of being too reliant on the banks. The company has been here before and made it through - maybe it will repeat the trick. Worth a modest punt, even though the risks are high|
|le turk: Am I missing something here? NtAV at 14p, market cap. 1.3mil. turnover some 26mil. share price 5p, and people question the value offered by this share!
I must be stupid as well as ugly.
see you lot at 14p.|
|pylon: The management issued a statement in October 2002 that they had received an offer for the company in xs of the prevailing share price at the time (circa 20p).
The current share price may well be an opportunity to top up, in which case the management would be our allies.
Even 20p per share is too cheap for the company, but perhaps holders would be very happy to get that having seen the shares as low as 2p.|
|ken50: I think the outlook for this share is very positive.
Ultimately value always asserts itself in a fair share price and I see no reason to think HPT should be any different.|
|targatarga: Garth your right. Everytime management of a dodgy stock try and buy a company they rip the ordinary investors off. VCT'S make a lot of money offering managers money to get a company on the cheap. The management of hpt have yet to do me any favours. Just look at the share price graph over the last few years.|
they've always won contracts. And the result is a 3p share price. Why are current contract wins going to make any difference? My reading here is that the directors wish to run the company for their own benefit - thereby fleecing current shareholders. They want the bank to support them. Have I got it wrong? I was a long-time holder (but sold out some time ago) and would love for someone to tell me its different to they way I've just painted it.... If it is as it appears, then why would ANYONE want to invest here?
Please tell me - I'm itching to be convinced to punt some money on the loan issue. But at present I cannot because the directors appear to be acting from mixed motives - bound to run the company for its shareholders but with one eye on taking it private for their own gain.....? Is that not the meaning of that statement about wanting the banks to support the existing management team to continue to run the company?
Thanks in advance for any light shed on my darkened eyes...... (sorry, just been reading some Plato with my year 12's)
|ken50: Spread is massive and quite offputting only if you believe HPT is either fairly or slightly undervalued.
I believe when the loan of £2.9m is closed out and the price moves up the historical spread will be irrelevent.
My view is obviously a minority one or the share price would already be much higher.|
High-Point Ren. share price data is direct from the London Stock Exchange