Industr. Multi Share Discussion Threads

[pillion] 26/4/2017 11:57

.........Therefore, unless shareholders wish to retain their holdings in what will become an unlisted investment fund with reduced liquidity and marketability, they should accept the Increased Offer without delay......

[eezymunny] 25/4/2017 19:19

How splendid...



I accepted the offer, received the cash, and now going to get another 30p. Takeover Panel rules I guess. I wonder if that will make ARTL happy enough?!

[eezymunny] 06/4/2017 14:07

Had proceeds from takeover today in one broker acct. Been a good 'un...

[essentialinvestor] 20/3/2017 20:48

NVT, see the RNS.

[ntv] 20/3/2017 16:53

some trades at £3.10 today

[essentialinvestor] 16/3/2017 07:48

As a HSTN holder very pleased with that announcement.

[essentialinvestor] 15/3/2017 07:14

It's HSTN.

[essentialinvestor] 14/3/2017 11:36

Find out who has got them tomorrow, or later today.


Alpha could always bid themselves as they rate IMPT so highly ).

[scburbs] 14/3/2017 11:35

No obvious (single) sellers of a block that large (>5%). Only Antler (7.63%) and Alpha Real (18.7%) and Hansteen themselves had more than 5%. Next largest were Armstrong at 330k (3.9%).

[essentialinvestor] 14/3/2017 10:13

Very large volume at £3.00 this AM, I'm hoping it's HSTN
that has taken those.

[essentialinvestor] 11/3/2017 12:59

May try 3.20/25 next, any thoughts?.

[essentialinvestor] 10/3/2017 10:32

Just tried a dummy trade, you can buy 15,000 shares for around 3.15 atm,
so there are some share available, but not at £3 a share!.

[essentialinvestor] 10/3/2017 10:30

Yes, but it's just a guess.

Probably very nice for you guys having read that statement.

[ntv] 10/3/2017 09:54

anyone think artl will make a bid around 355p mark
their share price going down maybe because they are going to raise some cash?

[eezymunny] 06/3/2017 12:51

I think only 50% acceptances needed for a takeover offer vs 75% for a scheme of arrangement. If this is up to date.

whoswholegal.com/news/features/article/29552/public-takeover-offers-versus-schemes-arrangement

"Approval

To be successful, an offer requires acceptances in respect of a sufficient quantity of shares to result in the bidder (and any person acting in concert with it) holding more than 50 per cent of the voting rights.

By contrast, a majority in number, representing 75 per cent in value of the members or class of members (as the case may be), present and voting either in person or by proxy at the shareholders’ meeting, must approve the scheme. Unlike an offer, those shares already owned by the bidder are not part of the class which is eligible to approve the scheme. A scheme also requires the additional sanction of the court."

[essentialinvestor] 06/3/2017 12:45

Or will they offer to buy the HSTN stake?.
Unlikely imv.

They have been given notice as manager from my understanding of the RNS.

[ntv] 06/3/2017 12:03

never understood why ARTL did not buy the company a while ago
missed op imho
wonder how much more they want from HSTN?
5 or 10% maybe
probably still worth HSTN paying up as they will be able to save a fortune in interest and management costs

[essentialinvestor] 06/3/2017 11:56

NTV, interesting.

Holding HSTN can't say I'm overjoyed at that news!.

[ntv] 06/3/2017 11:52

ARTL NOW CONTROLLING OVER 26% SO THAT APPEARS TO HAVE SCUPPERED A DEAL AT £3
MEANS HSTN WILL HAVE TO COME BACK WITH A PROPER OFFER IF THEY WANT IMPT

[essentialinvestor] 03/3/2017 12:09

NTV, will HSTN get this for £3, not sure on that,
very few selling over the past week.

[ntv] 25/2/2017 09:11

looking at this from HSTN management view they will get a bargin at 300p
especially if they wait to refinance
reducing the interest costs on the the loans will change the returns
firstly i am assuming little change in rent except for announced new rental income from beginning 2017
assuming £8m for the year

savings for HSTN are as follows or for any other group
management fees of £1.1m
RBS loan is fixed at 2% plus 3% margin giving approx 5% rate on the £25m loan plus floating part
total appears to be just over £32m including fees to close so much lower financing could easily be done
EUROPA finance is approx £20m and they are charging 10% plus capitalised part 1%
refinancing would reduce interest from £2.2m to approx £700k
ARTL are owed approx £9.8m plus 2% fee so £10m to buy out
finance costs here can be reduced from approx £1.45m to approx £350k
by paying the later two loans off straight away will reduce finance costsby well over £2.5m and if added to management disappearing you are looking at annual savings of of over £3.7m approx without sorting RBS loan costs here could be reduced probably by at least 25% and maybe up to 40%
so HSTN will get a bargin at £3

[essentialinvestor] 22/2/2017 11:33

Will HSTN need to pay more?.

I hold HSTN so was hoping that would not be the case.

[essentialinvestor] 20/2/2017 12:32

Looked clear Friday HSTN hoovering up at just under the offer price.

[ntv] 20/2/2017 12:06

thought they would want more.
refinancing is due sometime next year
this could bring down finance costs very rapidly
with a bounce back in nett asset value since late july
certainly if alpha was left out of refinancing then costs will come down
I think i read somewhere that HSTN will become managers of the portfolio whatever
so costs coming down there as well

HSTN grabbing what they can here at the low offer price
can't blame them with a foot in the door they can push alpha out quickly
not sure whether alpha have enough to stop a deal at the moment

[asmodeus] 20/2/2017 10:17

Well I sold about half to crystalise a very useful profit, and will now await developments for the other half.