Brady Share Discussion Threads

[lb28] 16/10/2019 13:34

It's held in connection with an offer as per the RNS.

Whoever it is brought it from Canaccord.

[eezymunny] 16/10/2019 13:19

The Hargreave Hale holding is possibly/probably just the existing one listed under Canaccord on the website ie nothing has changed.



Canaccord bought H Hale some time back, no?

[lb28] 16/10/2019 12:43

Probably a new bidder imo. Hanover would not need to be discretionary, a rival bidder would want to be at this stage.

[lb28] 16/10/2019 11:54

HUGE RNS.

Hargeave Hale holding 10% for a discretionary client in regards to an offer.

But is that the one we know about and they are buying shares to force acceptance or a new bider?

[stoneme] 16/10/2019 11:27

My rationale for the large holders is that they would more than likely have been subtly consulted about options.The BOD have been trying to raise both short and long term funding.The holders therefore have 3 choices. Fund it themselves, be HEAVILY diluted or support a sale. Option 2 is rarely acceptable.

[stoneme] 16/10/2019 11:25

Difference between 3% and 1% disclosure. Nothing more.

[lb28] 16/10/2019 11:21

9.7p getting peppered with big buys.
Remember there were big buys just before the TO offer.
Leaky, leaky.

[glenbo1] 16/10/2019 11:16

Tick tock.Not long now

[lb28] 16/10/2019 11:12

Some big buys, does somebody know something....

[lb28] 16/10/2019 10:22

Anybody worked out that lastest RNS?

Pretty funny when you do.

[lb28] 16/10/2019 10:09

Why would you be sure the top 3/4 will agree?
I don't know their averages or how much they invested but I think 50p and 10s of millions would be a good guess.

I would imagine a counter offer would need to be made quickly yes, I am expecting something this week or next.

Even 15-30p would still be very cheap and certainly cheap enough for a lot to be seriously considering it, at least.

I think the latest RNS shows a new holder of 3 million? That's quite interesting if they have been loading up after the offer.

[glenbo1] 16/10/2019 08:05

If there is a counter bid it should be significantly higher than the 10p.Many large buys over the last week.Let's see what develops.

[stoneme] 16/10/2019 07:59

I was looking for a date for the 50% of shareholders to support the offer? Looking at the register, so long as the top 3/4 + BOD agree, and I am sure they will, it would be unconditional.If a counter offer is to be made, it needs to be relatively quickly. Or am I missing something?

[hope67] 15/10/2019 15:45

forget that was looking at an old shareholders list

[phoenix equity] 15/10/2019 15:41

Only about 25,000 more shares than the last disclosure. Doubt they will make an offer though.

[hope67] 15/10/2019 09:23

They could easily raise 1.5 mill on 19 mill revenue and future revenues increasing. Can't see the big share holders accepting 10p it would of risen to 10p on funding news alone.

[lb28] 15/10/2019 09:22

If they get it for 10p it would be the deal of the century.

That's exactly why there will be multiple counter offers.

[hope67] 15/10/2019 09:19

Game of Poker

[hope67] 15/10/2019 09:19

o The Boards of Hanover Bidco and Brady are pleased to announce that they have reached agreement on the terms of a recommended cash offer to be made by Hanover Bidco for the entire issued and to be issued share capital of Brady. Hanover Bidco is an investment vehicle ultimately wholly owned by Hanover Active Equity Fund II, S.C.A. SICAV-RAIF.

o Under the terms of the Offer, each Brady Shareholder will be entitled to receive 10 pence in cash per Brady Share.

o Hanover Bidco's Offer is final and the Consideration will not be increased except that Hanover Bidco reserves the right to increase the amount of the Offer if there is an announcement on or after the date hereof of an offer or a possible offer for Brady by a third party offeror or potential offeror.

o The Offer values the issued share capital of Brady at approximately £8.3 million.

o The Offer represents a premium of 50.8 per cent. over the closing middle market price of 6.63 pence per Brady Share on 11 October 2019, being the Business Day immediately prior to the date of this announcement, and 31.1 per cent. over the closing middle market price of 7.63 pence per Brady Share on 3 October 2019, being the Business Day on which Hanover Bidco made the approach to the Brady Directors regarding the Offer.

o The Offer is conditional upon, amongst other things, Hanover Bidco receiving valid acceptances (which have not been withdrawn) in respect of and / or having otherwise acquired or agreed to acquire Brady Shares which constitute more than 50 per cent. of the voting rights attached to the Brady Shares.

o The Offer is subject to the other Conditions and certain further terms set out in Appendix I to this announcement, including that no member of the wider Brady Group becomes insolvent or undergoes any analogous procedure in any jurisdiction and to the further terms and conditions contained in the Offer Document, when issued. Immediately upon the Offer becoming unconditional as to acceptances, subject to Hanover Bidco not having invoked or sought to invoke any Condition prior to that time, Hanover Bidco shall declare the Offer wholly unconditional.

o In Brady's announcement of 26 September 2019, Brady confirmed that it was advancing funding initiatives to provide Brady with access to approximately GBP1.5 million to meet the working capital requirements of the Brady Group, prior to 30 November 2019 to support existing operations. The Company continues to review the position and, whilst the requirement for GBP 1.5 million prior to 30 November 2019 remains the case, Brady has a specific cash payment due on 15 November 2019. The Company is in discussions and would expect to be able to manage this situation until 30 November 2019. However, there can be no guarantee that this will be the case. The Company confirms that, whilst negotiations in respect of funding options have been advanced and are on-going, the Company has not, at this time, secured unconditional funding.

o Subject to the Offer becoming or being declared wholly unconditional in all respects, Hanover Bidco will work with the Company's management to agree a plan for modernising Brady's products and to seek to ensure that the products and services provided Brady's customers are best in class. Hanover Bidco is prepared to commit significant funding for the purposes of this plan.

[hope67] 15/10/2019 09:16

hxxps://invst.ly/kffyd they are crazy indeed this was 56p in August instis crashed the price.

[phoenix equity] 15/10/2019 09:01

Can get a quote for 350,000 shares at 9.29p so mms are not short of stock.

[lb28] 15/10/2019 08:52

People are crazy.