Mdm Engin. Share Discussion Threads

[playful] 13/3/2014 07:48

Lets hope so

[this_is_me] 13/3/2014 07:43

There could be an auction


"....... provided that the MIA has not been terminated in accordance with its terms (including in the event of a superior proposal). "

[this_is_me] 13/3/2014 07:35

I am not impressed with the take out price but agree that my 25% profit since the summer is better than nothing although, in my view, less than it could have been.

[playful] 13/3/2014 07:10

I would agree that this is a deal that does not reflect the true value of the business, but like you say a profit is a profit...

[m1das_touch] 13/3/2014 07:06

-- Recommended takeover offer from global engineering and construction group Foster Wheeler
-- Offer price of GBP1.70 cash per MDM share
-- Foster Wheeler to acquire all of the ordinary shares and options in issue in a cash transaction of approximately GBP65.3 million (US$109 million)

-- Cash offer represents an attractive premium to recent share price trading levels and provides realisation of value for MDM shareholders

-- Shareholders representing 42.4% of the issued ordinary shares of MDM have executed agreements under which they have agreed to vote in favour of the Offer

-- Offer subject to MDM shareholder approval and other conditions including competition approval

MDM Engineering Group Limited (AIM:MDM) is pleased to announce that it has entered into a merger implementation agreement ("MIA") with Foster Wheeler AG (Nasdaq: FWLT) ("Foster Wheeler") under which Foster Wheeler's BVI subsidiary, Foster Wheeler M&M Limited, will acquire all of the ordinary shares in MDM, subject to MDM shareholder approval and certain other conditions (the "Offer", the "Transaction" or the "Merger").

Under the terms of the Merger, MDM shareholders will be offered GBP1.70 cash for each MDM share they hold (the "Offer Price").

The Offer Price of GBP1.70 cash per share represents:

-- A premium of 14.5% to MDM's closing price on 12 March 2014 of GBP1.485;
-- A premium of 17.4% to the 30-day VWAP prior to 12 March 2014 of GBP1.45; and
-- A premium of 17.3% to the 90-day VWAP prior to 12 March 2014 of GBP1.45.

Well that's come completely out of the blue! To my mind it significantly undervalues the company, but of course private shareholders will have no say.

Nice to get out with a good profit, but I was seeing this as one of my long-term ISA holdings - so will be looking for a new home for these funds now.

Disappointing really.

[jeffian] 28/2/2014 17:43

KENZ in the same sector has been enjoying a strong surge recently. Pity MDM isn't feeling the same effect!

[hop53ton] 21/2/2014 10:44

Also encouraging news on Hummingbird's Dugbe - MDM's DFS & FEED due Q3.

[jeffian] 20/2/2014 11:22

fizzy,

Edit those to x's in hxxp to capital T's and it'll form a link.

[cambium] 20/2/2014 08:58

MDM Engineering (AIM: MDM) the minerals process and project management company focused on the mining industry, is pleased to announce that it has been awarded the definitive feasibility study ("DFS") for Royal Bafokeng Platinum's ("RBPlat") 250,000 tonnes per month (tpm) Merensky upgrade at its Bafokeng Rasimone Platinum Mine ("BRPM") in South Africa.

[wipo1] 11/2/2014 17:27

Market makers need to sort out the spread on this stock. With a 9-10p spread you are losing over £100 on paper right away only 1000 shares. Puts me off buying hence why I only buy blue chip stocks now.

[m1das_touch] 30/1/2014 20:24

Yeah I was tempted to...but couldn't be bothered in the end! Normally they're really quick at paying out and reinvesting, so generally no complaints.

[jeffian] 30/1/2014 18:57

That's pretty poor service. It was paid out 9 days ago! I should ask them where it's been.

[m1das_touch] 30/1/2014 18:18

Finally received my dividend via Interactive Investor yesterday. Looking forward to it being reinvested.

[jeffian] 30/1/2014 13:56

Ignore any financial site and go straight to the horse's mouth - the company itself - via their website or RNS.

"In the announcement by MDM (AIM:MDM) of its results for the half year ended 30 September 2013 published on 4 December 2013, the Company declared an interim dividend of US$ 8.00 cents per share, which includes a special dividend of US$ 3.65 cents per share. For those shareholders of the Company who have elected to receive their dividend in Pounds sterling, as opposed to US dollars, an exchange rate of US$1.6296 to GB£1 will be used for the conversion. This is the exchange rate as of Friday, 13 December 2013 and will result in a dividend payment of 4.91 pence per share."

[sar10] 26/1/2014 10:20

Barclays paid it on thursday fwiw.

[fizzypop] 25/1/2014 15:24

Still no interim divi from Inter@ctive Investor so I have complained.

[gleach23] 23/1/2014 21:14

No - Selftrade - often slow!

[jeffian] 23/1/2014 20:39

Yep. Mine went in yesterday (Hargreaves Lansdown)

[valhamos] 23/1/2014 18:20

Yes - I received the dividend voucher from Capita yesterday.

[m1das_touch] 23/1/2014 16:13

Not yet - I hold these in my ISA with Interactive Investor who are normally pretty good at crediting / reinvesting dividend payments quickly & efficiently.

[fizzypop] 23/1/2014 16:10

Anyone received the interim divi due for payment on the 22 Jan 2014?

[gleach23] 06/1/2014 18:55

I'm thinking the same jeffian. Slightly kicking myself for not having top-sliced a few at 158p recently meaning that I have as many as I want for now but I'll be very tempted as it enters what has been a recent support area.

[jeffian] 06/1/2014 18:45

Slightly surprised at the continual downward pressure here. May be a reaction to the belated realisation by some that last year's 'exceptional' earnings and dividends will not be repeated but this still looks cheap and high yield on 'underlying' earnings/divs. If they go much lower, I'll be tempted to buy more.