Team Internet Share Discussion Threads

[pentangle] 08/9/2015 20:29

If the price does not edge above 40p by the end of next week it should be a done deal. If anyone else is sniffing around there will be insider deals (shock, horror) which will push the price up. If it stays resolutely below the offer price then one may as well sell in the market as hang on for the extra 0.5% or so.

[deadly] 08/9/2015 15:55

mckenzie one, the answer is 42.

[luckymouse] 05/9/2015 03:51

well this deal is nailed on - so may as well hold in case a carpet bagger comes in!

[techno20] 03/9/2015 20:17

SP has stayed very strong, c.300k went through at 40p today.

Carlyle's irrevocable undertakings also dropped, albeit by only 0.1% as a result of NFU choosing to sell in the market.

Increasingly thinking there's a few twists and turns to come on this.

GLA

Techno

[mckenzie one] 02/9/2015 16:51

Hi Folks

Can anybody tell me what it all means Please

[pentangle] 02/9/2015 11:45

I sold half my holding at 39.767p yesterday, but plan to run the rest.

[inki] 02/9/2015 11:40

Interesting comment on Carlyle's offer, in todays FT:

Ian Spence, analyst at Megabuyte, the research group, said that “a counter-offer cannot be completely ruled out, given the weight of private equity money in the sector currently”.
He pointed to how UK insurance software companies have frequently fallen into private hands in recent years, citing deals such as OpenGI’s takeover by Montagu for £300m in 2014 and SSP’s acquisition by LDC for £207m in March this year.

[techno20] 01/9/2015 22:17

I'd say from previous experience it'll be 8+ weeks before payments are made.

The price was very strong today, touching the offer price on occasions. Also interesting that there were several large transactions at 39.75p during the afternoon. Suggests either Carlyle are mopping up what's available or some institutions are looking for more.

This space is very hot at the moment so IMV there could well be other interest. IBM possibly given they led the coop deal???

Holding tight for now!

Techno

[pentangle] 01/9/2015 12:16

Anyone know when we are likely to get paid out - it's been a while since I had a takeover and I can't remember. At present you can sell in the market for a 1.25% discount to the offer price, but I have a fairly large holding so it's still quite a lot of money to give away.

[techno20] 30/8/2015 07:24

A rarity to get my timing right, and unfortunately it was a rather tentative purchase, so can't retire quite yet!

Suspect we'll find out pretty soon the deal with Carlyle. If it's got management and key investors behind it, it's likely to be a done deal, but the premium isn't great, so I'm going to hold on for a while and see whether anything else emerges. Edison were valuing the BPS business on its own at 34p a while back. So with software having delivered a £46m contract and benefiting from the demise of Quindell, a price closer to 50p isn't an impossibility.

Agree Pentangle re. Value. There's still further to go in terms of the rush of UK Technology businesses off the market - have significant positions in IQE, Brady and Lombard Risk - all three of which are IMV quite likely to be taken out in coming months.

Good luck.

[pentangle] 29/8/2015 20:41

I tend to agree 40p is a bit on the light side. However, it's not a bad thing to have cash in this market as there are some obvious bargains around which there weren't a few months back. On my experience of previous takeovers we may well be able to sell in the market at 40p as Carlyle hoovers up as many as they can. Of course if you sell out you miss out on the chance of a counter bid, but with an agreed bid I imagine that's not very likely.

And well done Techno20. I remember that day when they plunged to 21p as a complete overreaction to some delayed contracts. You did well to jump in.

[techno20] 28/8/2015 16:11

Agree, looks a tad light to me.

However, having bought at 21.5p this Easter, on the day the price crashed, I'm not going to complain. But it does feel like another decent UK IT company being taken out, just as it was starting to deliver.

Sounds like the deals close, but who knows it may flush out some more interest.

Techno

[inki] 28/8/2015 13:03

As soon as there is a sign of more significant ongoing contracts, a cheap sell-out arises.

[american idiot] 28/8/2015 11:17

28 August 2015
The Innovation Group plc
('Innovation Group' or the 'Company')

Response to press speculation

The Board of Innovation Group (LSE: TIG.L) notes the recent press speculation and confirms that it is in advanced discussions with The Carlyle Group ("Carlyle"), at 40 pence per share in cash, which may or may not lead to an offer being made for the Company.

This announcement is not an announcement of a firm intention to make an offer under Rule 2.7 of the City Code on Takeovers and Mergers (the "Code"). A further announcement may be made shortly and will be made as appropriate. However, there can be no certainty that an offer will be made, nor as to the terms on which any offer will be made.

This announcement is made without Carlyle's consent.

In accordance with Rule 2.6(a) of the Code, Carlyle must, by not later than 5.00 p.m. on 25 September 2015, being the 28th day following the date of this announcement, either announce a firm intention to make an offer for the Company in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline will only be extended with the consent of the Panel in accordance with Rule 2.6(c) of the Code.

In accordance with Rule 2.10 of the City Code on Takeovers and Mergers, the Group confirms that it has 1,227,302,188 ordinary shares of 2 pence each in issue. The International Securities Identification Number for the Group's ordinary shares is GB0006872096.

In accordance with Rule 26.1 of the Code, a copy of this announcement will be published on the Company's website (www.innovation-group.com) by no later than 12 noon on 1 September 2015.

[mrripley99] 26/8/2015 22:48

Since 2011 they've spent goodness knows how much buying £50m of revenue to put £3m to the bottom line.Not very impressive.

[techno20] 19/8/2015 19:03

Agree, not sure what's driving the increase, but not complaining.

On the negative side looks like Blackrock have increased their short to 0.70%. Pleasingly they will be well down on the position so far. Long may that last!
Techno

[deadly] 19/8/2015 17:05

Strangely strong in this weak market.
Perhaps influenced by ADM's numbers?

[techno20] 31/7/2015 18:02

Nice to see Panmure Gordon reiterating buy rec. @ 51p.

Techno

[b1ggles] 21/7/2015 08:16

If I'd wanted to sell at 35p, I'd have done it in Jul last year.

[mckenzie one] 20/7/2015 17:10

Biggles,

Off we go, like i said 35 on its way.

then sell.

[b1ggles] 17/7/2015 08:47

Look out old Mack is back!

I thought 35p was to have been in Nov (post 1626)?

Give us a break, Mack, and clear off back to where you came from, complete with your schoolboy charting predictions.

[mckenzie one] 17/7/2015 08:38

It looks like TIG is about to set off to 35p today,

Hold your breath.

[pentangle] 17/6/2015 08:08

A huge deal for TIG.

If you believe in charts, there is a very convincing double bottom (a bit like the dancing girls really!) which suggests we will be hitting highs above 35p soon.

[techno20] 17/6/2015 07:35

Fantastic deal, with £12m in yr 1! And sounds like more deals to come.

Timing of the 230k purchase at 4.35pm yesterday was rather fortuitous! Unfortunately not mine!

Techno