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TCY Telecity

1,273.00
0.00 (0.00%)
24 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Telecity LSE:TCY London Ordinary Share GB00B282YM11 ORD 0.2P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 1,273.00 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 1,273.00 GBX

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Posted at 02/2/2016 16:46 by dr_smith
I opted for cash and have received £11.45 per share.
I had wrongly assumed that the share price shown on Google reflected the new mix:


But this shows circa £12.60 per share.

I queried this with online broker and they quoted me :
‘’The Company have announced that in accordance with Rule 2.12 of the City Code of Takeovers and Mergers it is in discussions with Equinix Inc which may or may not lead to a formal offer being made. Equinix Inc are offering GBP11.45 per share.’’

I am not aware of crystalisation/conversion dates, so expect a little tolerance in figures but can't reconcile the big £11.45 - £12.60 share price difference.
Can anyone explain please?
Posted at 14/11/2015 09:26 by dr_smith
In my post 1435 I calculated 3.48% upside, so if it is 6 months to complete (hopefully sonner) that's a 7% p.a. potential gain.
So, if I can find better than 7% return with like/lower risk I should sell.... oh nearly forgot stamp duty, alternative share(s) would need to be >8%.

Also, there is the potential upside( or downside) on the new Equinix, but don't know what expectations are.

IMO DYOR :-)
Posted at 11/11/2015 09:27 by dr_smith
extract:
---------------------------------------------------------------
11 November 2015
TELECITY GROUP PLC
TelecityGroup Update on Recommended Transaction with EquinixThe ratio has been revised such that each TelecityGroup shareholder will be entitled to receive:

For each TelecityGroup share: 572.5 pence in cash; and
0.0336 New Equinix Shares
There is no further update on the Offer at this stage.
---------------------------------------------------------

My sums: 1 * 572.5
Equinux share price (old/new not sure?) = $297.54 (* .66) = £196.38 * .0336 = £6.60
Total £12.325
TCY share price today £11.91

Upside premium post meger: 3.48%

I am unsure my equinix share price above is the "new/adjusted" sp, but 3.48% upside looks about right.
My own calcs, DYOR :-)
Posted at 29/10/2015 11:40 by dr_smith
Anyone out there?
I'll stop posting on this thread if I'm the only one. ;-)
RNS (don't have link as rec'd as part of email):
================================
BALL CORPORATION

Q3 EARNINGS RELEASE



Ball Corporation ("Ball") today reported third quarter 2015 net earnings attributable to the corporation of $44.5 million, or 32 cents per diluted share (including net after-tax expense of $110.4 million, or 78 cents per diluted share for business consolidation costs, including economic hedging losses, in addition to debt refinancing and other costs) on sales of $2.1 billion, compared to $147.4 million, or $1.04 per diluted share, on sales of $2.2 billion in the third quarter of 2014. Results for the first nine months of 2015 were net earnings attributable to the corporation of $225.6 million, or $1.60 per diluted share, on sales of $6.2 billion, compared to $394.0 million, or $2.76 per diluted share, on sales of $6.5 billion in the first nine months of 2014.

Comparable earnings per diluted share for the third quarter and year-to-date 2015 were $1.10 and $2.67, respectively, versus third quarter and year-to-date 2014 comparable earnings per diluted share of $1.10 and $3.04, respectively.

Details of comparable segment earnings, business consolidation activities, historical segment reporting, Rexam transaction-related hedging and costs can be found in the notes to the unaudited condensed consolidated financial statements that accompany this news release.

"Results from operations and global metal packaging volumes were in line with our expectations for the quarter. Foreign currency translation headwinds and project start-up costs both continued, the impact of which totaled 11 cents in the third quarter and 45 cents year-to-date, including net aluminum premium impacts and director retirement costs," said John A. Hayes, chairman, president and chief executive officer. "We continue to work on our proposed offer for Rexam PLC, including reaching agreement with our Brazilian joint venture partners for an exchange of Ball shares for the partners' remaining interest in the joint venture. Conversations with regulators in Europe, Brazil and the U.S. continue, with a goal of securing necessary approvals to enable the acquisition to close in the first half of 2016, which is consistent with our prior communications."

Metal Beverage Packaging, Americas & Asia

Metal beverage packaging, Americas and Asia, comparable segment operating earnings in the third quarter 2015 were $131.9 million on sales of $1.1 billion, compared to $133.7 million on sales of $1.1 billion in third quarter 2014. For the first nine months, comparable segment operating earnings were $383.4 million on sales of $3.2 billion, compared to $400.8 million on sales of $3.2 billion during the same period in 2014.

High single-digit growth for specialty beverage packaging in the segment was unable to offset single-digit volume declines and continuing price pressure in China, despite significant cost-out initiatives executed in the region. In Brazil, year-over-year volume comparisons turned favorable and the beverage can continues to gain strength in the packaging mix for beer and energy drinks.

Metal Beverage Packaging, Europe

Metal beverage packaging, Europe, comparable segment operating earnings in the third quarter 2015 were $61.1 million on sales of $450.1 million, compared to $63.8 million on sales of $489.2 million in the third quarter 2014. Results for the first nine months were comparable segment operating earnings of $149.6 million on sales of $1.3 billion, compared to $193.0 million on sales of $1.5 billion in 2014.

Mid-single-digit volume growth for beverage cans across Europe and a small aluminum premium tailwind in the quarter were not enough to offset unfavorable currency translation. On a euro basis, comparable segment earnings were up in the quarter. Our European plant footprint navigated a tight supply situation and absorbed out-of-pattern freight to ensure our customers' needs were met.

Metal Food & Household Products Packaging

Metal food and household products packaging comparable segment operating earnings in the third quarter 2015 of $30.6 million on sales of $372.0 million, compared to $43.0 million on sales of $450.6 million in the third quarter 2014. Year-to-date results were comparable segment operating earnings of $89.5 million on sales of $1.0 billion, compared to $119.1 million on sales of $1.2 billion in 2014.

Third quarter segment results and volumes were influenced by the previously disclosed U.S. food container customer shift, unfavorable currency effects and project start-up costs. Global aluminum aerosol volume grew mid-single digits in the quarter and our new aluminum aerosol plant in India celebrated its grand opening earlier this month.

Aerospace and Technologies

Aerospace and technologies comparable segment operating earnings in the third quarter 2015 were $21.4 million on sales of $203.4 million, compared to $21.2 million on sales of $221.7 million in the third quarter 2014. For the first nine months, comparable segment operating earnings were $60.9 million on sales of $648.4 million compared to $70.1 million on sales of $683.5 million during the same period last year. Backlog at the end of the quarter was $638.4 million.

During the quarter, the segment successfully integrated the propulsion subsystem for NASA's Green Propellant Infusion Mission ("GPIM") onto the spacecraft bus and began system performance and environmental testing. GPIM is scheduled for a 2016 launch.

Year-to-date 2015 segment earnings continue to reflect the greater number of program completions that occurred in the first nine months of 2014. Effective cost management continues across the segment and contracted backlog has stabilized ahead of various programs expected to be awarded in late 2015 or early 2016, including several recently submitted proposals.

Outlook

"The businesses are effectively managing working capital and, including approximately $500 million of capital expenditures, we now expect 2015 free cash flow to be in the range of $600 million, excluding cash costs for the proposed Rexam acquisition. Though the purchase price and interest rate hedges we executed to mitigate risk related to the proposed transaction's purchase price economics impacted our quarterly GAAP results, we are financially well positioned at this stage in the acquisition timeline," said Scott C. Morrison, senior vice president and chief financial officer.

"Our third quarter was largely consistent with our expectations given anticipated currency translation and start-up cost headwinds. The difficult year-over-year volume comparisons and aluminum premiums headwinds are behind us and existing growth capital projects will provide momentum as we move into 2016," Hayes said.

==================================
Posted at 04/6/2015 18:26 by dr_smith
Trouble sleeping at night?
Try reading this re merger (rec'd today via broker):
hxxp://www.telecitygroup.com/Downloads/presentations/Recommended-Cash-and-Share-Offer-for-Telecity-Group-PLC-by-Equinix-%20Inc.pdf

The 'effective date' is seemingly 2016 and within 15 days of first Calendar quarter following satisfaction of a pre-condition (but that could be waived by Equinix.

So seemingly before 15/1/16 or 15/4/16?

Semms slow and a long way off.

Any other expectations for 'effective date' amongst followers?

I was recently surprised by the slow process of t/o for REXAM which I hold, so it looks like more of my portfolio is in a go slooooow time warp. ;-)

In REXAMS case I thought the US authorities are slow, but seemingly, we are no better.
Posted at 14/5/2015 08:43 by dr_smith
Today, I note Digital Realty rules out offer for Telecity.

I assume they are a separate entity to Equinix:
----------------
7 May 2015
Possible Offer for TelecityGroup
The Board of TelecityGroup today announces that it has received an approach from Equinix, Inc. ("Equinix") regarding a possible offer for TelecityGroup at 1145 pence per share.
--------------------
I wasn't aware of a potential second offer, rumoured or otherwise.

Given that todays share price has dropped 3% I am trying I am trying to fathom what todays RNS means.
If it is/was a separate (potential) offer and Equinix offer is presumably unchanged, then share price would be unchanged.

So perhaps:
i) market was expecting a price war above 1145 which won't now happen (atleast from DR).

ii) market fears Equinix in absence of known competiton will drop offer below 1145.

and I suppose
iii) The Equinix offer is not solid, legally binding yet, so until such time as it has been formalised the share price will reflect the possibility it will not come to fruition.

Fair comment?
Posted at 20/3/2015 18:09 by silverfern
INteresting but no substance there at all imho. Just read the whole of the RNS especially this bit: "...announce that they have entered into a definitive agreement on an all-share merger on the same terms as announced on 11 February 2015. The transaction will be structured as an offer by TelecityGroup to acquire all the issued and to be issued share capital of Interxion. (not may be or could be)

The boards of TelecityGroup and Interxion believe the combination of the two businesses is strategically compelling." etc . I will buy back in when the deal finally becomes done as there is a buy back programme for £800m which will support the share price
Posted at 11/2/2015 07:21 by silverfern
A merger with a same size company (TCY are bigger on revenue and EPS) makes the results kinda less crucial. In the statement they say EPS will be neutral in Year 1- as INterXion have over EPS than TCY this could mean EPS for next year flat against this year - I don't know. THe share buy back will increase EPS by a bit though " broadly earnings neutral to TelecityGroup shareholders in the first full year of the combined group and earnings accretive thereafter". Interesting!
Posted at 13/11/2013 17:10 by freddie ferret
Re the comments to my last post.

No it would not make sense for me to sell now since I do not know where the share price is going, I think (as distinct from know) that it is going to 200p.
I think the company has good prospects hence I hold. The price of a share does not reflect the value of a company. Share prices change in relation to investor sentiment not in relation to fundamentals. I purchased high, if it falls then it will be a good buying opportunity for me.
You should not invest on the basis of the direction of the share price but on the basis of your view of the company.
If the share price is lower and you like the company buy.
If the share price is higher and you do not like the look of the company sell.

On the current share price trend we should hit 200p sometime Feb or March IMHO.
Posted at 05/11/2013 15:20 by bulltradept
Words like 'in- line' and 'satisfactory', perhaps don't inspire confidence, why not above mgt expectations, and increased customers?

See the point I'm trying to make.

One thought is that if a company is looked upon as doing well, i.e the company is in favour with investors then the share price should be within 10 - 15% of it's recent high, TCY share price perhaps tells a different story currently.

Just a view, don't shoot me.
Telecity share price data is direct from the London Stock Exchange

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