ISG Share Discussion Threads

[markie7] 01/2/2016 13:22

It can't go wrong. Worst case is 171p. This is a mandatory offer.

[gucci] 01/2/2016 13:07

what could be the worst case scenario here?

[cwa1] 01/2/2016 11:16

FWIW I took the 170 offered online for a slice of my holding as a bit of an insurance policy against the unlikely scenario of it all going titzupsen. Probably just run the rest and see how it pans out. Good fortune all.

[ed 123] 01/2/2016 10:02

Nice one! :-)

[markie7] 01/2/2016 10:01

Sure. I'm in at 150, so not that bothered!

[ed 123] 01/2/2016 08:57

Demonstrates nicely the danger of having a management who had lost control of some contracts and lost the confidence of their own shareholders. Remember, at the point that Cathexis made the 143p offer ISG was a whisker above 120p and falling. If Cathexis hadn't made their offer, where would the share price be now?

Of course I am sorry for those shareholders who will have lost money, if the 171p bid succeeds. However, there have been chances to have played this meltdown and subsequent grab.

[markie7] 01/2/2016 08:15

Demonstrates nicely the danger of having a determined 29% shareholder.

[qs99] 01/2/2016 08:08

Yup would have expected something better, but then heaven forbid the board would interrupt their weekend to prepare something different hehe

[markie7] 01/2/2016 08:01

Think you are right. That is not a very imaginative RNS.

[exbroker] 31/1/2016 20:36

They will be in the market Monday morning, expect them to keep buying stock, as they get past 40% the hold outs will get nervous and sell or accept the offer, game over!

[qs99] 31/1/2016 12:52

They will IMO have to "go some" to hoover up another 20% IMO....so it still is beholden to the board to fight for more on the offer to justify a board recommendation IMO.....so come on ISG board!

[ed 123] 30/1/2016 23:48

Ta, Exbroker. :-)

[exbroker] 30/1/2016 20:00

The level on a Rule 9 is 50% and they can hoover up stock from the market, if you are not sure then sell in the market, tell your broker that it looks as if the agency desk at Bank America is the buyer.Do not take below 171 as the market makers will rip you off on the RSP.

[ed 123] 29/1/2016 19:49

Does this mandatory aspect bring a lower hurdle? (50% of issued shares instead of 75%) If the success level now is 50%, Cathexis only needs 19 of the hitherto non-accepting 69%. Or, about 28% of the hitherto non-accepting.

I guess I've now got a very good chance of receiving 171p for my shares. That will do me nicely, thank you.

[qs99] 29/1/2016 18:52

Yup, but IMO directors should still try and be the heroes and squeeze some more in order to recommend the bid. Doesn't mean institutions have to accept and Cathexis won't IMO want a dangling x% below a 75% (delist level?) acceptance....dyor...fingers xd the board can do something useful....

[markie7] 29/1/2016 17:55

Interesting. So now they can't pull out.

[exbroker] 29/1/2016 17:37

Confirmed its a Rule 9!
I hear the sound of a fat lady coughing in the middle distance.........

[qs99] 29/1/2016 17:04

Exbroker, you are right, but hopefully they have enough sense now to engage and work out a sensible price the board can recommend, which shouldn't be anywhere near the £1.71! They can look like heroes for squeezing more out of the bidder and Cathexis can get a blended "in" price acceptable to them still...and I can cash out at a profit...haha simples

[exbroker] 29/1/2016 16:38

Some interesting prints at 171 if Cathexis have bought them all then the bid is now a Rule 9 as they are over 30%

[exbroker] 29/1/2016 16:18

This bid we be decided by the top 10 shareholders not the private investors so unless you hold 500k+ you won’t get a phone call!!
This has been pitched at a very clever level, Cathexis have played a good hand so far the board have looked flat footed and have not given enough reasons as to why the bid should be rejected.

[oregano] 29/1/2016 16:07

this is a sensible offer, the board can't dismiss it out of hand. they have not managed to rustle up a white knight to validate their view of underlying value. that trading statement showed they are still struggling with legacy issues. given the repeated profit warnings they are firmly on the moral low ground. this was £1.20 before the bid don't forget, that is more relevant than the £3.50 figure.

[qs99] 29/1/2016 16:01

Just being realistic, would love higher than £2, but all depends on where the forecasts internally are without the legacy projects.....sentiment of board needing now to engage for higher offer is still my main point, a higher price just taken as read

[bouleversee] 29/1/2016 15:59

Why should they support £1.90 when the price has been over 350p last Feb? I'd like to think that if they got their fingers out the Board could get it back up to that again at some point and I would be happy to wait for that, but then I'm not a trader.

[qs99] 29/1/2016 15:04

Nice play by Cathexis, always coming IMO, but £1.71 won't do it IMO...board now need to engage properly with Cathexis and NEDs force them to either find a higher bidder, OR get Cathexis to pay nearer £1.90 or £2.....then they can unanimously support the bid which would then be successful....for all parties me thinks at that point....so will continue to await developments and hope the board can do something right....!!

[tuscan4] 29/1/2016 14:12

I will not accept 171p. In a years time ISG 's Pre - Tax profits should be running at least £20m annually,with growth to come in 2017. Expect only a modest dip after the bid fails before the market factors in these figures. We also have the comfort of a 10p dividend in 2016 to come.
Keep your nerve.