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Shanks Group Share Discussion Threads
Showing 1326 to 1349 of 1350 messages
|H1 year report sounds reasonable and company confident going forward after anti-trust approval early 2017 for which they must be very confident and appears to be a formality - guess the worst that could happen they would be required to make a disposal or two..
"Completion is principally dependent upon securing anti-trust approvals for the transaction from the respective Belgian and Dutch authorities, which is now expected in early 2017."
Don't know why steep drop today , closing at equivalent of 102p .|
|Am i right in thinking that all things beingequal we should have just dropped the 14.5p ? Did anything elese happen today to effect the share price (ie the rights etc) i tried to buy at 4.29pm but didnt get a fill.|
|You also have to adjust for the extra earnings from the Combined group.|
|First you have to adjust for the placement of 45 million shares at 100p and then adjust for the rights issue.
" Transaction Highlights
-- Based on the closing Shanks share price of 100.5p on 28 September 2016, the proposed consideration payable by Shanks for VGG would be settled through the:
o payment of approximately EUR286 million in cash, financed through new debt facilities and an equity issue of approximately GBP141 million; and
o the issue of up to approximately 190 million new Consideration Shares, representing up to approximately 23.8% of its enlarged issued share capital following completion of the Merger and the equity issue.
-- Inclusive of an increase in expected underlying net cash in the VGG business at Completion, the Merger is anticipated to result in VGG shareholders receiving a total value of approximately EUR562 million, and implies a debt-free, cash-free value of approximately EUR482 million.
-- The Shanks Board believes that the Combined Group can be expected to achieve annual risk weighted pre-tax cost synergies of approximately EUR40 million in the third full year following Completion. Approximately 30 per cent. of these synergies would be delivered within twelve months following Completion, 75 per cent. would be delivered within 24 months following Completion and 100 per cent. would be delivered within 36 months following Completion.
-- The Shanks Board expects the Merger to be significantly earnings enhancing for the Shanks Group in the second full financial year after Completion (i.e. the financial year ending March 2019) and the return on investment to exceed the Shanks Group's weighted average cost of capital over the same period() .
-- The Equity Issue, which has been fully underwritten by Investec, comprises:
o a Firm Placing of 45,000,000 Firm Placing Shares at 100 pence per share (representing approximately 11.3 per cent. of Shanks' existing issued share capital) to raise gross proceeds of GBP45 million; and
o a 3 for 8 Rights Issue at 58 pence per share to raise gross proceeds of approximately GBP96 million (representing a 34.5% discount to the theoretical ex-rights price of 88.5p calculated by reference to the Placing Price of 100.0 pence per Ordinary Share, and a 42.3 per cent. discount to the Closing Price of 100.5 pence on 28 September 2016 (being the last day on which the London Stock Exchange and banks in London are normally open for business before the announcement of the terms of the Equity Issue)).
-- Shanks has entered into the New Facilities Agreement pursuant to which EUR600 million of multicurrency facilities, comprising a EUR150 million term facility and a EUR450 million revolving credit facility, will be made available to the Combined Group."
|Presume today's drop is the rights issue.
(I just noticed the chairman bought 100k 2 weeks ago.)
The rights issue price is
38p right now , which on a 3/8 split is worth 14.25p per share . So SKS share price should have only dropped this much. Currently down 14p.|
|Agree - the markets are finding it tough to push higher and any companies announcing profit warnings are taking more than the usual hammering.
Share price may be nudged higher when approval and clearance quoted below have been completed.
"The Merger remains subject to Shanks shareholder approval and anti-trust clearance. Further updates will be provided in due course."
If you have not seen the DT article on the Euro in Tuesday's front page
you may find this interesting.
|I nudged my limit up to 116 , but may regret it later.
I do worry that we could easily get another big fall in the market.|
|wad - day of reckoning bid 115+ do you sell or go for 120P, very small volume.
|Still sniffing that limit , Forex chaos is prob a factor today still.|
|Didn't quite hit my limit today , but knocking on the door. The sterling fall today is even more impressive , busy day for the currency traders.|
|Cannot argue with that - guess on a pullback 100 - 105ish could be the reentry.
|Todays fall in Sterling is not necessarily going to sustain - I will trade out if the share price hits 115 . I would look for a small drop to buy back in , and not that fussed if it floats away.|
|Do not forget after the merger the lions share of earnings are in Euros
currently 114.30 hence the uplift I am sticking with my holding as per my post above.
|Nudging a 2 yr high , the reader in me is getting an itchy sell finger ; watching closely.|
|Cost savings, growth and currency translation should underpin current share price with potential to break out above 110p resistance level.
|I like the way the share price is creeping up ; nothing spectacular but little incremental rises most days.|
|Biffa IPO should renew interest in the sector and from the recent RNS looks like a timely merger.|
|is this dog ever going to get its act together?|
|Looks like a respectable 3 figure share price is imminent again. Does appear to be a done deal now.|
|Found this in the announcement which is reassuring plus current share price so seems to have the approval of the institutions.
"Capital structure of the Combined Group
Following completion, the Board of Shanks anticipates a net debt / EBITDA for the Combined Group, pre synergies, to be broadly similar to Shanks' current standalone leverage expectations. Over time, the Board expects leverage to reduce with the realisation of synergies in the Combined Group and continued application of Shanks' strategy, including active portfolio management."
|Ed 123 I know the feeling! I congratulate them on the initial suspension certainly eased the pressure on negotiations although not a done deal yet feels alright company striving for growth and puts them in a stronger position in European operations, diversifies earnings plus benefits of consolidation focusing business, disposing of lower margin assets. As I have said before regard them as a quasi utility - a little concerned on the additional debt and would like to see the final terms and ratio to market cap and and ebitda.
|Takes a bit of digesting that statement. Ironically the share price is currently exactly where it was suspended.|
|Maybe talking to myself? The shares are finding good support on today's news. Price has gone positive.
AGM will be held Thursday next week. Anyone going?|