Chieftain Share Discussion Threads

[tomkite] 23/9/2008 14:33

Very good cash rich company, how many of those are there about???????? BUY til your money runs out

[veryniceperson] 22/9/2008 17:10

simso and philjeans. I think you pair have hit the nail on the head. As you say nice profit in the bank and the lucrative consultancy fees.

[shanklin] 22/9/2008 10:53

To try and get an idea of how much of CFT is held by people who visit ADVFN and TMF, I've posted the following poll at TMF,

Responses welcome. Cheers, Martin

[philjeans] 22/9/2008 10:14

A few years back the co hit hard times and the directors had to put their own casn in , and guarantees, to keep it trading. I suspect the directors wish to exit, safely, with a nice cash profit , AND keep a nice consultancy salary for a few years, just to avoid the risk of all that again if things get tight.

Still giving it away though and 250p would be a fair exit price.

[simso] 22/9/2008 09:58

THe announcement implies that talks have been going on for a while. A month ago, the price was in the early 170's, and I wonder if the offer price looked a bit more reasonable at that point when the talks started. A set of fantastic results and positive outlook statement pushes the price up to 190+ and suddenly the premium is halved...and starts to look very mean.

[felix99] 21/9/2008 22:29

10k shares and I'm happy to keep em at 209p

[philjeans] 21/9/2008 18:35

20k shares and no way Hose.

[targatarga] 21/9/2008 14:15

my no vote on just under 30k shares

[puffin tickler] 21/9/2008 11:11

My holding is less than 0.1%, not enough to tip the balance.

[davidosh] 21/9/2008 10:54

Just out of interest do holders here have a significant shareholding. I know of at least four shareholders with nearly 1% stakes so there may be more to come on this deal before it gains full agreement judging by the stunned reactions here. I simply want an explanation.

[shanklin] 21/9/2008 08:50

What a bizarre RNS. I would like to think that:
- the directors realise that 209.2p is a complete give away.
- any NOMAD would tell them this offer is at the wrong price.
As simso suggests, I'd see £2.50 as being at the extreme bottom end of a sensible buy-out price.

Given their ages I can see why some of the directors would be motivate to sell the company, but please not at this price.

Not that it would make much difference, but my 0.3%+ would also probably be used to vote against this.

Cheers, Martin

[targatarga] 20/9/2008 20:11

Nice deal for the acquiring company! The buyer nets a nice cash pile on completion....

[puffin tickler] 20/9/2008 15:47

I will certainly be looking very closely at the terms of the deal to see what the what the directors receive from it.

I would not expect a full value offer in the current climate but given the past solid growth, the bouyant sector and recent contracts I would have expected a price at least 20% higher.

[davidosh] 20/9/2008 14:44

The north east press comment

[puffin tickler] 19/9/2008 23:11

Yes, very odd, very low and very unexpected

[davidosh] 19/9/2008 22:52

I would think from the wording that we will hear something more within a couple of weeks. It will need to be accepted or rejected and as a cash offer would be paid within 14 days after the deal goes through. It will be interesting to see how a vote would go though having seen the reaction here and I am still hopeful that we will end up with a stronger offering.

The timing is bizarre to say the least...at the very tail of a dire weak but when the markets are in euphoria mode. They gave us such 'cracking' interims, promised more contracts and then say they will be recommending a 9% premium to the closing share price ...most stocks in the FTSE 100 did that with their eyes closed today !!

What has changed in the last two weeks ? Malcolm Oliver had only just been given the role of deputy so succession planning looked well underway. I was happy to stay bedded in for the long haul and still am to be honest.

[bigblueeyes] 19/9/2008 21:29

Why! Why! Why! was looking so good. What sort of time scale are we looking at, anyone have an idea?

[penpont] 19/9/2008 17:58

Very, very disappointing. You have to wonder whether it's best to sell in the market and reinvest in one of the many small caps that have been trashed in price lately - at least that way you have a chance of some near term capital growth. Othewise you are left with a wait of some months for this to go through, and with the price effectively capped unless a counterbid arises (unlikely I think given they've agreed this is an acceptable offer).

So, goodbye to an excellent, cash rich, high yielding growth company.....

What a rotten end to a rotten week.

[barn owl] 19/9/2008 16:26

I notice a bid from a 3rd party for DMP failed today, due to a poor economic/banking enviroment.

[simso] 19/9/2008 16:17

On the one hand, it is a little surprising that anybody can easily raise the finance for a cash bid for any other company. Also interesting to see the share price completely underwhelmed by the news, almost as if it doesnt believe it will happen

[jeff h] 19/9/2008 16:13

Possible bidders:- Cape?...Cammel Laird??...James Fisher???

[davidosh] 19/9/2008 15:47

The announcement did not have to be made as there has been NO share price movement on a day when the rest of the market (banks and big caps generally) are up 8%. Begs the question why say anything at all until completely a done deal. Maybe there is a reason for flagging this up now !?

My advice FWIW would be hold on tight until we hear more and hope for a counter bid as there must be a number of larger players that would want the security of the large order book and future potential we all have been patiently waiting for.

[targatarga] 19/9/2008 15:41

sounds more like a related party than a 3rd party....

[simso] 19/9/2008 15:17

I agree this is a very disappointing offer.I have around 1% of the shares, and would probably vote against this with them. Cash is always a positive in such a difficult climate as this, and unwinding a largish position for,me would always be difficult without a bid. However, I think this is too low by at least 40p.