Bonhill Share Discussion Threads

[chrisdgb] 25/1/2023 09:33

Looks like some people lost patience but think they are making a mistake we should still clear north of 10p here.....

[chrisdgb] 05/1/2023 08:20

Hopefully an announcement soon, now the holidays are out of the way with.....

[chrisdgb] 22/12/2022 08:32

I know Harwood always mentioned 15p as a target, let us hope they have firmed up the preferred US bidder, basically still 50% upside from here......

[qs99] 13/12/2022 11:40

Full Offer being paid now

[qs99] 11/12/2022 19:26

Cut and pasted below VV.....search the RNSs for the deets, but I reckon management will be targeting 15p....let's see....would make sense that the USA business could command double the 5p the UK/Asian businesses IMO, but that is slight wet finger in the air mode, but happy to continue to hold for that if they can pull it off. All the signals are there from available RNSs IMO, but not for widows and orphans as the saying goes!

DYOR



Retention Bonus

In addition, on the Date of Grant, the Remuneration Committee approved terms under which Patrick Ponsford, Group CEO, and John French, Executive Director, may receive the payment of a cash bonus on the sale of the Company (the "Transaction") should a sale occur on or prior to 31 December 2023 (the "Retention Bonus"). The Retention Bonus will be payable following completion of the Transaction and subject to deductions for applicable taxes.

The size of any cash bonus which might be payable to each of Patrick Ponsford and John French will be based on a multiple of their annual salary and determined by the value of the offer price per share ("Offer Price") payable for the Company achieved as set out below:


Offer Price thresholds
("GBP") Base Salary Multiple
0.12 0.5x
---------------------
0.15 1.0x
---------------------
0.20 2.0x
---------------------
0.25 or above 3.0x
---------------------

Where the Offer Price is between two of the thresholds set out in the table above, the Base Salary Multiple will be pro-rated on a straight-line basis between the closest lower and upper Offer Price thresholds.

In the event that the Transaction occurs over more than one 'simultaneous' phase or tranche then any payment under the Retention Bonus will only be payable once all phases or tranches of the Transaction have been completed.

Eligibility for consideration for any cash bonus under the Retention Bonus is contingent on continued service by each of Patrick Ponsford and John French in their respective current roles prior to payment save that exceptions may apply at the discretion of the Remuneration Committee.

In the event of: (i) a variation of the share capital of the Company; and/or (ii) a demerger, special dividend or other similar event which affects the market price of Ordinary Shares to a material extent, adjustments may be made to the terms of the Retention Bonus as appropriate.

Payment of any Retention Bonus will be overseen by the Remuneration Committee which is comprised of the Company's independent Non-Executive Directors. The Remuneration Committee retains discretion as to the nature, terms and operation of the Retention Bonus generally.

[value viper] 11/12/2022 07:56

10p is a nice round number of courseCannot recall where the director options kick in - gut feel is over 10p

[qs99] 09/12/2022 08:04

..and maybe USA businesses are worth more on a rating point of view?

Really fair play to management given the situation if they pull this off

DYOR

[qs99] 09/12/2022 08:01

USA bigger revenues and lower losses than the UK unit from what I can see, so could be worth more than the 5p? To cover the debt maybe and leave 5p for shareholders? Leaves cash shell with tax losses maybe?

DYOR

[qs99] 09/12/2022 07:21

OK so views? Interesting. Sale of UK/Asia business looks like it will net today's share price Less worried IMO about trading end of this year as next year looks better.

So get cash in Jan 23, trading for that year continues to improve (?), but then sale of the US business could net what, more than the UK/Asian business? So could entire business be worth (with debt) nearer 10p?

Anyone doing the maths? Interesting and fair play tbf.

DYOR
Cheers
QS99

[chrisdgb] 09/12/2022 07:20

5.5p offer for UK/Asia, US similar size???, so circa 10p overall...???

[chrisdgb] 25/11/2022 11:17

Lets hope for some positive news soon...

[qs99] 18/11/2022 13:20

I stand/sit corrected, looks like there appear to be buyers around, of the stock anyway! DYOR

[chrisdgb] 18/11/2022 13:00

£500 of stock today.....blimey

[qs99] 16/11/2022 15:35

looks like there are some that are with you Value V!

[qs99] 16/11/2022 14:41

Defo not placing my bets, but let's see. GLA

[value viper] 16/11/2022 14:08

Selling business at 1 x sales means it rises say x 3 - seems such business can attract such valuations - management big incentive to get a deal done - multiple interested parties if you believe it - place your bets ......

[qs99] 16/11/2022 12:52

shares sit at 4p on the offer, £4m market cap, why would anyone pay 18p over 4X that amount i.e. £16m PLUS take on board the debt? So say £20m EV

For a loss making business, c'mon guys wake up and smell the roses

Who will continue to fund this IF no offers?

?!

DYOR

[bsharman3] 04/11/2022 20:37

She is saying BONH is worth 20p but selling at 3p.....

[value viper] 01/11/2022 20:50

Listened to downing fund manager couple of days back who mentioned 18p min

[value viper] 20/10/2022 17:37

God knows Dire price action of course on zilch volume The loan is to keep the lights but to get it all sold as far as I am concerned There would be nothing left if sold in bitsIt has to be sold on the multiple to sales metrics mentioned before At least to trigger some options upside for the directors Hhmm

[chrisdgb] 20/10/2022 10:57

Maybe get an offer for one division and allow flexibility to then focus just on one region...?

[value viper] 10/10/2022 16:09

Got it - sorry oversight

[chrisdgb] 10/10/2022 14:47

1st rns today….

[value viper] 10/10/2022 14:39

Can you elaborate Chris ? ta

[chrisdgb] 10/10/2022 12:19

The offer price thresholds for the management are interesting.....