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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Aa Plc | AA. | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 34.95 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 34.95 |
| Top Posts |
|---|
Posted at 15/1/2021 11:34 by wskill Kaos3 I have enjoyed your musings ,It was very lucky the AA board of directors were well versed in the PE shenanigans with all their past experience with these investors that seemed to help us a lot I don’t think.The bid was timed to perfection at exactly the correct time when the refinance was required luckily the board of directors managed to see this and gave lots of extended time during the bid process so it was impossible to refinance of course they got opinions of some of the helpful banks that it would be impossible for the AA to manage this refinance. The sceptics among us would think that the AA in common with all floated ex PE investments was set up to fail so another bite of the cherry may be had heaven forbid. Do not think I will ever invest in any ex PE floated companies again this outcome seems to be a common theme with them,Well even better than a lot of them where investors lose everything like Southern Cross anotherof my failed investments. At least I made a tiny profit here Best of luck guys with your investments |
Posted at 07/1/2021 21:08 by nrl2901 I totally agree with Paulo345 that the RNS was misleading and made the point to Investor Relations and the Company Secretarial Team at the AA as the RNS clearly says the Scheme Document and voting forms were published AND sent to AA shareholders on 17 December 2020. You may want to email the latter (cosec@theaa.com) if you have still not received the voting forms. After 5 days, they advised me on 4 January that Hargreaves Lansdown needed to provide the scheme document and voting forms to me (yes I was sad enough to email them on New Years Eve). HL refused to send me hard copies. But me contacting them did prompt them to send me voting instructions, received on 6 January (20 days after the RNS said it had been provided). Also the postal voting forms require three sets of numbers so an online corporate action via HL or your broker may be an easier way of voting (I would only know my shareholder reference number from HL and not the two other numbers – raise this as do not want andybubbles and other people casting spoiled votes). I share your sentiments querying whether this is an accident or not. I am tempted to go to the FCA legal and raise it with them. But, given the board and bidco's conduct to date, the cynic in me wonders if it may also be purposeful in case a vote gets delayed so the PE can further sharpen things given the refinancing need. It they were truly wanting to make things shareholder friendly they would have issued a clarificatory RNS or taken SolGold PLC's RNS number 5052G as a pro forma where they stated if you are clients of AJ Bell you vote by, if you are clients of Interactive Investor you vote by…… Still hoping for a higher bid or the unlikely emergence of an interloper. I would re-iterate previous thanks to the likes of Wiseman1967, DarkPrince, Amran01 and kelso29 for their posts and insights. |
Posted at 04/1/2021 17:20 by wiseman1967 Jaspo - I don't think it is a trade as it would have been in the volume figures on 31/12. It could be a transfer from ABC to its own investors. Woodford did a similar thing when passing his shares back to Blackrock. It means that rather than having one person voting for the 19%+ it will be 5-10 investors voting which I guess makes the deal at 35p more likely to go through. |
Posted at 23/11/2020 19:16 by wiseman1967 First thing to say is that PE houses have an ability to draw down on temporary (usually 12 months) banking facilities. This important because the 380m investment to de gear is there to frighten off other potential investors and shareholders. In practice they will not draw it down from their investors and will simply refinance it with debt at the company level within 12 months. This will massively enhance their returns. It would take leverage down to 6.2x ebitda. A perfectly palatable refi can be done at 6.5x. The equity raise needed for this is 2600-(6.5x358) or about 275m. Looking at what Saga did, it can be done through a combination of a new investor and a rights issue. This is the alternative I expect institutions to pursue irrespective of management backing this daylight robbery bid at less than 8x ebitda. |
Posted at 23/11/2020 14:27 by thedarkprince Well - DK have basically tried to do just that by joining the consortium.It is an open offer but participation requires accepting highly illiquid securities and contributing meaningful amounts of new money which precludes virtually all institutional investors. But it is generally forbidden for a buyer to favour certain shareholders of a public company over others. I would think as private investors we are much more aligned with Albert Bridge than the board here. |
Posted at 21/11/2020 11:18 by wiseman1967 The Times today suggests that the loophole allowing companies to place up to 20% of their share capital with a select group of investors without making the offer to all investors equally will close by the end of the month. That is only six business days from now. I can see that being used to pressure the PE houses to bid. If they don't bid there will be only 3 business days to arrange this light touch raise (similar to what Saga did). There may still be an extension this week but I suspect if PE hasn't bid by Friday we may see the company launch a placing with an open offer on Monday 30th. I think we will have a solution by 30 November now. |
Posted at 19/11/2020 16:44 by netcurtains Amran01: I have loads of shares in various companies. I cant do detailed research like investors do for their specific shares. I have a quick look at Wall Street Journal for profits, nav, and debt... I run my software (I'm an IT developer) that tells me such things as relative PE ratios (this is obviously good) etc etc.However investors know all the minutia that newbies dont know - so its always worth asking. I am not an investor, I'm a monthly trader (in and out, normally over a couple of months - might be 3 months max). I have held shares for years before but it rarely works for me Cheers Net |
Posted at 30/10/2020 12:41 by clemoc Let's face it, everyone knows the longer this drags on the more everyone wants closure, it's human nature..I'm convinced the BOD are negotiating hard, but its slipping through their fingers. For all we know they have been declined by re financers, and buy out is only option. Ive always said I think buy will be early 40s, and the fact that the largest investors are averaging down proves this to me. Ive an average of 33p, and do feel for volvo and fellow investors, but have my fingers crossed for everyone. |
Posted at 12/10/2020 12:54 by minerve 2 bing_bPeople here who have bought AA on the premise of a PE bid are speculating. People here who have bought AA for the long term or already held before PE speculation are investors. Anyone who wants the PE bid to succeed aren't acting as investors BECAUSE if they BELIEVE the AA's future is bright they wouldn't be prepared to sell to PE for a quick and much lower return. That's my view anyway. I would say there are more commentators here who are just interested in the bid and then they'll move on to the next circus. You sound like a sensible investor - so good luck to you. :) |
Posted at 29/9/2020 12:37 by wiseman1967 Minerve - and I thought you were well read. Have you ever heard of these investors? Henry Kravis, Stephen Schwarzman, Leon Black (Apollo), David Bonderman and even Mitt Romney. Not sure whether they will make your Hall of Fame as great investors, given you are the self declared most successful capitalist on this thread, but all are billionaires. Your 2% strategy makes you sound more like a banker than an equity investor (in more ways than one). |
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