Hml Share Discussion Threads

[davidosh] 21/10/2020 01:04

Just out of interest....Did only those who held on until now get the dividend?

From the AR...

T he Directors have proposed paying a dividend of 0.52p per share in relation to the current year (2019: 0.47p per share).

If approved, the dividend will be paid on 16 October 2020 to shareholders on the register at 2 October 2020. The corresponding ex-dividend date is 1 October 2020.

[davidosh] 25/9/2020 17:28

I received payment on the 21st September in my main brokerage account.

[ingroid] 25/9/2020 17:19

Has anyone who accepted by the 11th September received payment?
It is important that i know,please let me know.Thanks

[mathewawood] 24/9/2020 11:38

Thanks again. Will do.

[davidosh] 24/9/2020 10:10

Ring your broker or email and advise that you want to accept.....the offer will still be there as the bidder want to get past 90% so that they can compulsory take out the rest

[mathewawood] 24/9/2020 07:57

Thanks for replying davidosh.

How would that work? As it stands the "Accept cash offer" allocation box in my stockbroker account is closed.

[davidosh] 23/9/2020 21:05

You will still be able to accept the offer

[mathewawood] 23/9/2020 17:25

Advice please!
I've messed up and now realize that I've missed the deadline for selling my shares at 37.5p. I don't want shares in a private company. What are my options?

[davidosh] 27/8/2020 13:29

The offer document states that the largest shareholder has given a hard irrevocable undertaking to accept the Harwood bid. That practically seals the deal for the bidder as it cannot be changed for any potential competing offer that could have been made once other parties were aware that HML was to be sold.

At APC another company where I held shares and Harwood came in a year ago to take it off market in a similar way it was different...

The irrevocable undertaking there was soft .....Importantly the Chairman of APC had a Private Equity background & I’m sure sounded out the market to determine if the price was fair. Also, the irrevocable undertakings ONLY provided a lock-in for the Harwood bid up to 11p. If a competing bid had materialised 10% above the 10p level the undertakings would no longer be binding & the large shareholders would have been free to accept a higher offer.

Even then investors stated 'So overall I’m disappointed to be waving goodbye to APC in this manner, especially after investing so much time & energy in researching, reviewing & meeting the APC team during the last few years.'


The same is true here.....So why did the chairman and largest shareholder via LTC give a hard irrevocable without testing the market to see if a higher bid was likely to be forthcoming? It is not difficult to see a 10% higher bid coming forward if it had been an open market but this was closed off from the start....


This is destroying value potential for the 50% or so of smaller individual shareholders IMO and the independent non execs should have questioned this.

[rivaldo] 18/8/2020 16:29

Hi davidosh, see my post 104 above. Nothing much to be done as a done deal and a poor show by management. I suspect the buyers know they've got themselves a bargain which could be very profitable and can be sorted out more easily as a private company.

[davidosh] 18/8/2020 13:57

Rivaldo....What are your thoughts on the offer?

[rivaldo] 18/8/2020 13:28

A buy of almost 4,000 shares has just been reported at 37.8p. I assume someone's missed the 37.5p offer!

[annecarter] 10/8/2020 18:52

Post 57 foresaw exactly this takeover bid happening and that was over nine months ago so why are the board accepting an even lower price than that one?

The board have spent over £25 million buying competitors and building this company up into a very well positioned nationwide management company to sell out for just £17m. Can someone explain the logic in that?

[davidosh] 06/8/2020 19:55

Any other thoughts on this before we have to vote?

[davidosh] 31/7/2020 09:37

If you look back I actually said...

...this could attract a counter from a well run consolidator unlike HML

So I am certainly not crediting HML with being well run.


The directors always told us at presentations and in Agms that they were doing everything right in accordance with the increased regulations and others would fall by the wayside or be taken over by HML or other consolidators so we just had to be patient.

Now they are telling us not to be patient !!?

Look at the price paid for First Port in this sector. We are being sold down the river IMO

[truthbetold] 31/7/2020 09:02

Did you say well run?

[truthbetold] 31/7/2020 09:00

Have any of you ever looked at the reviews this company gets in review sites like Trust Pilot? They are rated as poor. The reviews are very worrying for the longevity of the business.

[davidosh] 30/7/2020 23:00

I have had three emails from fellow shareholders so I think some do but obviously not many use ADVFN these days.
I think some may not have spotted it as we are in the post lockdown summer holidays now and so perfect timing all round.

[graham1ty] 30/7/2020 22:50

Very few comments. No one really cares about HMLH.......

[davidosh] 30/7/2020 20:51

Covid should barely affect this business in the medium term and property sales are picking up like crazy with the stamp duty holiday so many of their lessees will be taking the opportunity to move which means lots of fees and surveying over this next six months.

Perfect timing to bid and in reality this could attract a counter from a well run consolidator unlike HML that has made a real hash up of it and cost me a fortune as I could have sold at 45p many years ago

[stemis] 30/7/2020 09:36

Well I think this says everything about management's faith in their ability to deliver shareholder value that they've accepted a price which is little more than the share traded at pre covid. Buckets of acquisitions for no real benefit; no accreditive margin, no economies of scale, running merely to stand still. Buying turnover to give the impression of growth. Needing putting of it's misery but exploiting covid weakness in the share price to do it for such a paltry sum is as cynical as it gets...

[rivaldo] 30/7/2020 09:13

A couple of small buys at 37.9p, above the 37.5p offer - am I missing something?!!

Perhaps they're gambling on a counter-offer (the likelihood of which seems extremely remote to me given Harwood's involvement and shareholding).

[davidosh] 30/7/2020 08:29

Management bought most of the businesses when the HMLH share price was in the 33p to 45p price range so how can they justify selling at 37p?

[davidosh] 30/7/2020 08:05

Absolutely correct and so predictable that shareholders would get a lowball bid from CM once he was involved and building his stake.

I am afraid we have waited years for the business to deliver for the investment made in tens of acquisitions and someone else will reap the benefits due to poorly executed plans by management over the past five years.

I should have sold out when I lost confidence three years ago. To accept a takeover at half the price that our company has been doing acquisitions at is shockingly poor management of shareholder funds and it is natural that we feel aggrieved at this outcome.

[graham1ty] 30/7/2020 07:44

HMLH have always paid a stonking multiple of revenue for acquisitions. Over seven years they have paid, on average, 1.4x revenue. Every time they are challenged, they just say that is what they have to pay. Unquestioning.

And themselves ? Sold out for 0.6x revenue ( £19m / £31m revenue).

So,,that is alright then ?