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Real-Time news about Wellington Hds. (London Stock Exchange): 0 recent articles
|soysoy: Wellington Holdings plc ("Wellington" or "the Company")
Preliminary discussions regarding a possible offer for the Company
14 March 2005 for immediate release
Having noted the recent rise in the Company's share price, the Board of
Wellington announces that the Company has received an approach and is now in
discussions with regard to a possible offer for the entire issued share capital
of the Company in the range of 180p to 185p per share.
First Britannia Mezzanine NV, which holds 29 per cent of the issued share
capital of Wellington, has indicated that it would accept a formal offer in this
These discussions are at an early stage and there can be no certainty that they
will lead to a recommended offer for the entire issued share capital of
Shareholders will be kept informed of further developments.
Pursuant to Rule 2.10 of the City Code on Takeovers and Mergers, Wellington
announces that it has 23,861,946 ordinary shares in issue|
|philjeans: Still quite keen on these and I am hanging on for a better set of results in the Spring.
Oil price remains firm and the co has said many times it is optimistic about its sales to this industry, particularly in the US - more exploration and research improves sales of its seals and kit to the oil companies.
Dividend maintained last time, despite uninspiring results , so direcetors appear confident about the future. Good yield and graph shows a solid and steady price with no selling.
Institutions hold a good proportion of the equity and have remained loyal and supportive. 2004 will show a further sustained rise in share price if the directors can deliver their promise.|
|azalea: Interesting that the price has risen 5p recently (post Div) on little turnover and at that, small buys versus larger sales. Hard to know what to make of things except to wait for the prospects held out at the AGM to materialise. I note that business for Hunting Services must be good judging by its rising share price, this might be influencing MM minds, with regards to WLN?|
|azalea: Over the past two days there has been a net purchase in excess of 230,000 WLN shares. If this trend continues it will undoubtedly show in a rising share price whilst clearly demonstrating that there is significant interest arising after a period of dormancy. Keep an eye out for more large (50K) buys!|
|azalea: Oil prices strengthening, Venezuela supplies brought to a halt, war against S. Hussein early next year and Discretionary Fund Management building up a stake from below 0.3% to a current holding of 13.53% over the last 6 months, (not forgetting First Britannia's 29.24% stake). I believe there will be siginifcant movement in the share price in the run up to results in late March with a 4.2p+ final dividend to it off. The share price has been stable for a couple of months now at a fairly low 75p (mid price). Bush is as keen as ever to promote oil exploration within the boundaries of the U.S.A. and lessen reliance on foreign imports, all of which should help to make WLN an attractive play.|
|azalea: There was some serious stake building in WLN in October. Whilst the Interim results in September were not as good as hoped, the dividend was maintained with little reason to expect that the FY will be any less than before. The subsequent fall in the share price makes the shares (IMHO) an attractive play both on yield and recovery prospects. Despite the fall in oil prices WLN has held firm @ mid 75.5p - a price not seen for some time. An added interest is First Britannia with a 29.24% stake. A further cut in U.S.interest rates next week will not do WLN any harm to say the least. I have bought @ 78p. DYOR.|
|azalea: The latest developments in the Middle East makes me believe that the oil price will go higher in the coming months - $28 would not be beyond my thinking. As an aside I also believe the Dow will fall. In addition, I believe that the U.S. will now realise that a solution to the Palestinian v Israeli is not going to be realised in the foreseeable future. With the Saudis refusing to allow the U.S. to launch an attack on Iraq from its soil, The U.S. is reported to be moving its Gulf H.Q. from Saudi Arabia to Qatar. If the U.S. is still intent on deposing S.Hussein it will have to be initiated before a N. America winter sets in when oil prices rise on a seasonal basis; whether it be this year or, next.
Ultimately, I believe the longer term view will reinforce the U.S. Government's desire to reduce its dependence on foreign oil. Albeir an imagined threat, I do not envisage the Arabs attempting to reduce oil supplies and even if it were to do so,I believe the U.S. would turn to Russia to make up the shortfall. If the price of oil is so important to the share price of WLN, given the events outlined, I expect the share price to move in tandem.|
|azalea: I hold this stock for several good reasons:
1. The 29.24% stake held by venture capitalist First Britannia. IMHO this size of stake will eventually in one way or another be used to launch a bid.
2. The 29% increase in interim ptx suggests a very successful full year.
3. The excellent high yld, which looks safe.
4. With the U.S. government seeking to reduce its dependency on foreign imports and releasing 600m acres of land for oil exploration, the demand for seals should significantly increase. This is supported by the completion of a $1m expansion of production facilities in the U.S.
5. With OPEC cuts aimed at keeping oil prices above the $22 mark, oil exploration and demand for oil drilling associated products should continue.Oil and gas exploration is on the increase around the world.
6. This week's rise of 6% in the share price could be associated with the rise in oil price and/or an early indication of a profitable outcome for the full year. A purchase of 20,000 shares is quite a sizeable buy judging by recent standards.
7. On a speculative note, if the U.S. does attack Iraq, the price of oil will rise accordingly. On the other hand if there is no attack and meanwhile the airline industry recovers, world oil consumption should rise. The key here will be OPEC maintaining its grip on levels of production.|
Wellington Hds. share price data is direct from the London Stock Exchange