Abrdn Property Income Share Discussion Threads

[interceptor2] 01/11/2012 07:40

Crystal Amber brought another 100k @ 70.25p on Tuesday and now hold 8.47% of stock. I noticed some chunky buys yesterday, which could also be Crystal Amber?

They seem confident that offers have been received.

ic2...

ps,,, FSG, I remember them BBD :o)

[cockneyrebel] 31/10/2012 20:54

Yep, not that bothered how they go tho B-B-D, as long as the buyers cough up well :-)

CR

[bigbigdave] 31/10/2012 18:23

Slightly different situation to DWN or FSG for example imo, they were taken over.
API has put itself up 'for sale'

[greenroom78] 31/10/2012 17:06

Hope they word it better than I do. I is not the most articulate of folk!

[interceptor2] 31/10/2012 16:57

Greenroom78, That would seem a reasonable RNS to release, and they may well release one with those wordings.

It will be interesting to find out.

ic2...

[greenroom78] 31/10/2012 16:47

ic2 - you don't think they'll issue an RNS along the lines of...

...the bidding period has now closed and the company has received x number offers which we will now review before putting details to shareholders...

or along those lines. i.e. confirm there is interest (assuming there is) so as not to risk a leak/two tier knowledge base?

[cockneyrebel] 31/10/2012 16:39

Chart picking up monentum to which always makes me moist :-)

[cockneyrebel] 31/10/2012 16:36

50K buy @ 73p after the close :-)

CR

[interceptor2] 31/10/2012 16:33

Good strong finnish.

They might tell us sooner if there was no interest I guess. But I would think there would have been some interest, if so I would think an announcement would take a bit longer coming.

Guess work though as this is the first time I have held a company that has put itself up for sale.

ic2...

[greenroom78] 31/10/2012 16:28

Nice. I wonder if they'll tell us in the morning if they have had any interest, even if they don't give details.

[m.t.glass] 31/10/2012 16:16

nice finish..

[cockneyrebel] 31/10/2012 15:27

Well that's 100K sold at 71p without a blink from the mm's so someones taken that lot imo.

CR

[cockneyrebel] 31/10/2012 15:20

Let's hope there's no offers they want to accept under £1 a share.

These are so cheap, they have such a good set up for H2 with a large new contract and H1 is well up on H1 last year.

If puinters were to just forget any bid and actually look at how cheap these are they might see the wood for the trees. These will have no net debt in 12 months at the current rate and likely to do well over the 10.8p eps forecast for next year too imo.

All imo/dyor etc.

CR

[m.t.glass] 31/10/2012 07:54

Unless there are no offers - in which case I presume they would quite quickly say so, with an accompanying reassurance that it's no problem. Otherwise news of that would seep out and do damage.

[speedsgh] 30/10/2012 19:09

"...interested parties ... will then be invited to submit indicative proposals to the Company through Altium by no later than 31(st) October 2012.

The Board will consider indicative proposals and may consult with the Company's major shareholders before determining whether to continue or terminate the sale process."

Bids have to be received by tomorrow at the latest. I suppose there will be a delay in any news release while the company evaluates any offers it may have received and decides whether or not it is worth pursuing any of them. So first news on the initial outcome of the process may not be until sometime next week at the earliest?

[cockneyrebel] 30/10/2012 16:24

And a 75K

CR

[smudgeroo] 30/10/2012 08:15

Prospective offers to be submitted no later than tomorrow after which the board will review and release more detailed due diligence information. Revised bids will then be requested with a view to a final offer for the company.

Anyone care to estimate how long the process following 31st October may take?

I would imagine at least another few weeks if not more so there may be an opportunity to buy some more on any implied weakness in share price.

[cockneyrebel] 29/10/2012 16:20

Why all the buys all of a sudden?

CR

[bigbigdave] 29/10/2012 07:53

Agree MTG no bid would be a disappointment and would most likely lead to a bit of a sell off. However still well worth holding for future prospects.

[m.t.glass] 29/10/2012 07:41

Either that, or share price and WC sounded out takers and found none themselves - and needed the company to do this 'Hi everybody, come and look' promo :-O

As a holder I hope there really are some bidders. It would be quite a letdown if there aren't.

[cfro] 27/10/2012 18:23

Thats what makes me think there could a be perhaps a handfull of potential bidders.

We will see next week.

[interceptor2] 27/10/2012 16:26

It's hard to know at what price bids will come in at, as some have mentioned here 100p would seem fair. I feel there will be some bidders, and I think Crystal Amber the activist investment group think the same. They now hold 8.34% of API, and have increased their share holding on three occasions this month.

Also I wonder if the two largest shareholders that are pushing for the sale Steel Partners 32.4% and Wynnefield Capital 29.68%, (62% in total) sounded the market out first for interested parties, before suggesting that API are put up for sale.

Not long to wait.

ic2...