Spirent Communications Share Discussion Threads

[wall street trader] 05/3/2024 08:18

Well my £1.03 buy has worked out well but am a little disappointed as this was gonna be a long term hold - so I have to hold out til the actual purchase to get the special dividend ?

[weaverbeever] 05/3/2024 08:18

How long will this takeand when would we get the 2.5p dividend? Also what's chances of counter offer?

[dplewis1] 05/3/2024 08:17

In all the excitement I didn't even notice they put out full year results.. lol

[blueclyde] 05/3/2024 08:12

Welcome to Brexit Britain folks where the shares utterly collapse then get taken over on the cheap by the Americans with most of the long term holders underwater. They absolutely destroyed the markets,

[steeplejack] 05/3/2024 08:07

"Down the way,Spirent will probably be acquired"My comment of 40 days ago got a sceptical response...even a stopped clock tells the right time twice a day.

[scepticalinvestor] 05/3/2024 07:59

So many constituents of the FTSE now being taken out on the cheap. Makes you wonder if UK mkts are just being manipulated down to orchestrate this

[chard1980] 05/3/2024 07:51

I'd have been happier nearer 200p, 175p seems a bit low considering the share price previously, I bought a lot higher than the current bid, fortunately I averaged down and will make a small profit but I had confidence in Eric U and his board over the LT on this being extremely fruitful. Oh well, On to the next one it is!

[dplewis1] 05/3/2024 07:45

Only people who averaged down will make anything (fortunately I did), but it's another example of a successful U.K. company which was back in the up getting taken out for a comparatively small sum. If you read their 5g report they were very bullish and had some very promising collaborations.. hopefully someone will counter the offer

[hamhamham1] 05/3/2024 07:37

I was nearly right...

hamhamham110 Oct '23 - 07:12 - 2829 of 2875 Edit
0 2 0
I think Keysight will take this out for about 150-200p area over next 12 months if share price stays below 130-150p.
Time will tell.
Good start today.

[scepticalinvestor] 05/3/2024 07:32

Incrediblely low offer, disappointing. Still will make over 50% profits so shldnt complain I suppose

[18bt] 05/3/2024 07:30

Very disappointed they decide to sell out before the recovery has set in - typical UK company response. Chance of competing bidders??

[trickyricky] 05/3/2024 07:29

Break even for me is 155p so I'll make about 10% on my shares. Given it's the worst performing share in my portfolio I suppose it's better than a kick in the nads. Any possible chance of a bidding war?

[dplewis1] 05/3/2024 07:25

Given the share price was well over 2 quid early last year this feels rather lowball

[masurenguy] 05/3/2024 07:19

RECOMMENDED CASH ACQUISITION of Spirent Communications plc ("Spirent") by Viavi Solutions Acquisitions Limited ("Bidco") to be effected by means of a scheme of arrangement under Part 26 of the Companies Act 2006

Summary

The boards of Viavi, Bidco, and Spirent are pleased to announce that they have reached agreement on the terms of a recommended cash acquisition of the entire issued and to be issued ordinary share capital of Spirent by Bidco. It is intended that the Acquisition be effected by means of a scheme of arrangement under Part 26 of the Companies Act (the "Scheme" or "Scheme of Arrangement").

· Under the terms of the Acquisition, each Spirent Shareholder shall be entitled to receive:

175 pence for each Spirent Share held (the "Acquisition Value").

The Acquisition Value comprises, for each Spirent Share:

o 172.5 pence in cash (the "Acquisition Price"); and

o a special dividend of 2.5 pence per Spirent Share, in lieu of any final dividend for the year ended 31 December 2023 (the "Permitted Dividend").

The Acquisition Value represents a premium of approximately:

o 61.4% to the Closing Price per Spirent Share of 108.4 pence on 4 March 2024 (being the last Business Day prior to the publication of this announcement).

[hamhamham1] 05/3/2024 07:18

Niiiiiice!!!!

[slopsjon2] 05/3/2024 07:18

Plus 2.5p special dividend, making the offer 175p

[dplewis1] 05/3/2024 07:03

OH. Cash offer 172.5p..

[dplewis1] 04/3/2024 09:52

Full year results Weds

[dplewis1] 28/2/2024 17:07

Plopping back down to a quid.. annoying

[reddirish] 20/1/2024 19:02

Acquired by whom? It is an industry with few players, so any trade acquisition would fall foul of competition authorities in at least one or two big jurisdictions. Private equity will certainly have had a look, but found a well-managed business with few cost cutting opportunities (and no trade sale exit option) albeit with low debt, so a few years of cash extraction possible. I'm a long term holder, and expect this to remain in my portfolio for some time.As an aside, SPT was my first 10 bagger, when I first bought £5k worth at 5p after the dot com crash and sold out at 50p, kick starting my ISA. Those were the days....

[steeplejack] 16/1/2024 10:49

Ordinarily,i'd be tempted to be a strong buyer with an eye to further recovery but frankly,the UK equity market appears anaemic and enfeebled.Yet,another company that would be well advised to consider a NASDAQ listing to engender some investor interest.Down the way,Spirent will probably be acquired.

[steeplejack] 16/1/2024 10:02

I wouldn't describe that statement as downbeat.Its effectively saying that they're getting on top of a difficult trading environment.They've rationalised the workforce and reorientated their marketing to capitalise on current trends and are reasonably optimistic about benefitting from AI.Cash flow is solid.Its not all about 5G afterall.Even the UK equity market has managed to show a spark of interest.

[dplewis1] 16/1/2024 09:19

Wasn't sure how market would react to this, I read it as slightly downbeat .. people must have liked the outlook

[masurenguy] 16/1/2024 07:29

Trading Update 2023 - In Line with Revised Expectations

London, UK - 16 January 2024 : Spirent Communications plc ("Spirent", the "Company" or the "Group") (LSE: SPT), the leading provider of automated test and assurance solutions for next-generation devices and networks, today issues the following Trading Update for the financial year ended 31 December 2023, noting all financial results are subject to external audit.

Key highlights

-- Full year results in line with the Board's revised expectations
-- Accelerating our focus on non-telco segments where market dynamics are currently more positive.
-- Organisation restructure to drive efficiencies with no impact to key product road maps.
-- Strong balance sheet and cash flow conversion.

As previously announced, the telecommunications sector was very challenging in 2023. Full year revenue closed at $474 million (2022: $607 million) and we expect to deliver an adjusted operating profit(1) in line with the market consensus(2) .

Whilst we continue to see softness and customer spending delays in the telecommunications sector, we are accelerating our focus on non-telco end markets, and we have seen good growth in order intake for our Positioning business and from Hyperscalers. We also closed a strategic, and significant sized deal with a world leading Financial Services organisation representing a new end market for us. We are building an order pipeline for these end customers.

To optimise our cost base whilst protecting our technology leadership, we are implementing a number of key initiatives:

-- Organisation restructure - from 1 January we are merging our High-Speed Ethernet business with Lifecycle Service Assurance to better support how we sell to our customers' increasing numbers of solutions, including more products from across our portfolio.

-- We have reduced our headcount by circa 8 per cent through the year, including as part of the organisation restructure mentioned above. We have taken a very targeted approach to ensure all key R&D product road maps remain intact.

-- We are reducing our overall office footprint, reflecting a more flexible office working environment post COVID-19.

The initiatives, with an anticipated exceptional restructure cost of circa $15 million have driven cost savings during 2023 and significant savings for 2024 which will more than mitigate cost inflation. The overall payback of the change initiatives is expected to be less than two years.

Financial position

We maintained our strong balance sheet and disciplined investment policy. The Group's cash position closed at $103 million supported by our effective working capital management. $72 million of shares were repurchased during the year. We remain well placed to take advantage of investment opportunities as they arise.

Outlook

We are pleased to have started the new financial year with a growing orderbook. We are well positioned to deliver strategic and operational progress, with growth opportunities in our non-telco end customer markets whilst we continue to invest in our leading technology solutions across our portfolio which will position us well in these markets as and when they recover. Overall, the Group remains well-placed for the year ahead.

[masurenguy] 15/1/2024 07:57

A year end trading update is due tomorrow.