Anexo Share Discussion Threads

[p1nkfish] 06/8/2021 10:49

I'm with you Boozey. As they own 30% I just can't see them not going ahead and possibly stretching to a few more pence too. Ideally in relatively short order so CAGR return will be decent enough.

A lot of risk out there at the mo.

[boozey] 05/8/2021 22:34

Well I am happy to sit tight. My average is around 130p, so 150p is still a positive outcome compared to what yields I could get in other forms of investment! No hurry. A revised upwards offer would obviously be welcome!

[p1nkfish] 05/8/2021 21:36

I think DBAY opened all cash at 150p as what they thought would be a knockout. Any higher and its likely not all cash but don't know how that might work???

[boozey] 05/8/2021 19:48

They are trying to get the company on the cheap. I imagine there is pushback from various quarters. The price was around 135p when the takeover bid was announced - barely a premium. Either that or there have been issues identified during due diligence.

[p1nkfish] 05/8/2021 17:57

18th Aug latest.

Question in my mind is if no offer is made will DBAY dump their holding or just hang around like a bad smell?

They bought close to 30% at 150p so why on earth wouldn't they take the rest at at least 150p?

[metis20] 21/7/2021 16:43

Deadline extended



Discussions between the parties remain ongoing and in accordance with Rule 2.6(c) of the Code, the Company has requested, and the Panel on Takeovers and Mergers (the "Takeover Panel") has consented to, an extension to the deadline by which DBAY is required either to announce a firm intention to make an offer for Anexo in accordance with Rule 2.7 of the Code or to announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. Such announcement must now be made by not later than 5.00pm on 18 August 2021. This deadline can be extended by the Board of Anexo, with the consent of the Takeover Panel.

[p1nkfish] 21/7/2021 13:36

No surprise if they string everyone along.
I would prefer an exit now but hey-ho.

[raymund] 21/7/2021 12:24

Thanks metis20, so it is now wait and see; no one else has made a counter offer

[metis20] 21/7/2021 09:57

In accordance with Rule 2.6(a) of the Code, DBAY must, by no later than 5.00 p.m. on 21 July 2021, either announce a firm intention to make an offer for Anexo in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline may be extended with the consent of the Panel in accordance with Rule 2.6(c) of the Code.

[raymund] 20/7/2021 17:15

The status of Executive Chair Alan Sellers, and managing director of the Bond Turner subsidiary Samantha Moss as joint offerors to DBAY's potential offer is under consideration, Anexo says. DBAY must announce a firm intention to make an offer for Anexo or withdraw by July 21.

[timmythedog] 06/7/2021 14:30

I spoke to an analyst who said that the important announcement is the 2.4 - the original announcement - about a possible offer. If anything changes in terms of the offeror status then that would involve another announcement making that clear.
His words: "It is not agreed that they will be joint offerors and there is no change to the information in the 2.4 announcement, but given that there are ongoing discussions it is a regulatory requirement that it be disclosed in this manner."

[p1nkfish] 06/7/2021 09:05

So why listed with DBAY yesterday if not part of the DBAY party?

[timmythedog] 06/7/2021 08:12

Re Joint Offerors - Saw this post elsewhere:
"I wondered about this too and rang the Company, who told me that this declaration was made under instruction from the Takeover Panel on technical grounds; but they made it clear that no decision has yet been taken as to whether these Directors are going to be joint offerors. Presumably any such decision will be dependent on terms, as and when these are forthcoming."

Seems a bit misleading to me but I suppose the Takeover Panel thinks that they "may" be offerors in the future. Anyway, apparently still up for grabs.

[p1nkfish] 05/7/2021 19:44

Yes, there could have at least been an announcement of what their status is.
Probably for the best this goes private as it's not what public markets need.

[metis20] 05/7/2021 19:10

Joint Offerors - DBAY Advisors Limited, Samantha Moss and Alan Sellers - own between them 64.01% of the shares in issue.

This from the 23 June RNS -

"While the structure of the possible offer is not yet confirmed, the status of Alan Sellers, Executive Chairman, and Samantha Moss, Managing Director, Bond Turner, as joint offerors to DBAY's possible offer is under consideration."

So presumably the status of Alan Sellers and Samantha Moss is no longer "under consideration"?

[p1nkfish] 05/7/2021 17:00

64% on the side of DBAY now fully announced.

[rogthepodge] 23/6/2021 16:27

maybe an opportunity for Redde to bid higher if it's a retirement sale? Makes Redde look attractive.

[p1nkfish] 23/6/2021 11:04

See who DBAY picked their stock up from.

[p1nkfish] 23/6/2021 10:59

Is there a conflict of interest with the 2 big insiders plus DBAY appearing to work in concert for the take-over? How does this work?

64% between them.

DBAY at 29%
Alan Sellers at 17% - Exec Chairman
Samantha Moss at 18% - MD of Bond Turner

[p1nkfish] 23/6/2021 08:23

Someone happy to get out at 143.5p rather than wait.
A bit low imho.

[p1nkfish] 23/6/2021 08:23

Does anyone trust this not to be an attempt to just get the price up and DBAY not make an offer at 150p? There appears no commitment in the RNS?? A bit wishy-washy.

[p1nkfish] 23/6/2021 08:10

CAGR = compound annual growth rate.

If you picked these up at 137p yesterday (guess) and it closes at 150p one month later the CAGR calc is approx:

(150-137) = upside in price in 1 month, 13p/137p = 9.4% approx.
12 months in the year.
CAGR = 12 x 9.4% = 112% approx.

There is also the 1p dividend to add by end of July.

[northstar88] 23/6/2021 07:35

Exactly P1nkfish. Looks a done deal from day 1 and this was my fear when Dbay entered the fray and bought circa 30%. I think Alan wants to retire and is taking the opportunity at the expense of delivering what is best for shareholders. The share price was much higher than this 2 years ago and it was still cheap then. 150p is very poor.