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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Colt Grp S.A. | COLT | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 189.75 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 189.75 | 189.75 |
| Top Posts |
|---|
Posted at 02/8/2015 14:27 by robwt There are undervalued companies out there. Perhaps their share price is down because they are owned by a fund. This deal isn't to be compared to any other, if a proper bid is made by a competitor, it will attract other bidders. You cannot say that about Fidelity's bully boy terms here. It is an opportunistic bid to buy what stock they do not own at a knock down price with no threat of competition.That isn't fair on those who have Colt shares at way above a price of 190p and stayed with them long term in order they get a fair return on their long suffereing investment. Just when things are improving, Fidelity want to deprive us of a return. I don't like this because it reminds me of when Alan Sugar (now Lord) tried bully boy tactics to buy the rest of Amstrad. Just like Fidelity, Sugar knew the score, but he lost because he considered people to be stupid. Amstrad investors got many times his derisory bid when BskyB bought it a couple of years later. I was invested in Amstrad, so I speak from experience. Read it Saying the share price was 115p last October should just remind us all that Fidelity's huge controlling holding has been the catalyst to why Colt shares have been depressed. No big player could get a look in. 190p is cheap shot from Fidelity, it says more about them than a million words. I am shocked they stoop so low. Many people see this for what it is, a stitch up!! So we may be forced to take the 190p and look elsewhere to invest...and in a year or so Fidelity will cash in at many times more than 190p. |
Posted at 30/7/2015 11:54 by robwt When Fidelity announced the offer for Colt at 190p, there was a lot of action for about a week after with the share price reaching 193p. I got out of a few at over 190p. Since then, the share price has hovered around 187p with all those shares being bought up.Could there be a buyer out there who has been hoovering up all available with a 187p tag for the last month...the trend has included some large quantities. If so, we might see a hike in the share price above 190p if Colt come out with a bullish report tomorrow. Buying at 187p could be a nice earner whatever happens. I wonder how many shares Fidelity have had an acceptance for. I was surprised that Standard and Ruffer indicated acceptance at a time when Colt seem to have turned the corner. Although they should be looking out for their investors and trying to get the best deal, it seems like they just accept what is a lowball offer. But they are part of that big club of fatcat fund managers who rarely achieve any decent returns. I don't buy any of it. Colt management think Fidelity are undervaluing the company and they are talking about their real boss. Also, some prominent financial writers on the other side of the pond have given it the thumbs down. |
Posted at 28/7/2015 09:30 by dickbush What the Chinese are doing to prop up their stockmarket looks to me a lot like what the UK government tried to do to prop up Sterling against the Dm in 1992. All they are doing is giving investors/speculatorIf I'm wrong and they do succeed all they will have done is give the speculators, the brokers and banks that lent them the money the idea that they can't lose: the Chinese version of the Greenspan put. We all know how that ended. |
Posted at 26/7/2015 12:17 by dickbush Thanks for that, robwt. I didn't know about the writer's credentials.I imagine the "old guard" such as Ed Johnson III will be less than happy to see Fidelity's name being trashed for a few hundred million Dollars. If this acquisition goes sour for some reason a few of the new management are going to find their careers abbreviated, which would be some small consolation to long term investors in Colt like us. |
Posted at 26/7/2015 11:53 by robwt Thanks Mirko, a great find that endorses the horrible feeling of being shafted is being felt by more than us long term, long suffering Colt UK investors. The article is spot on!It was great to read the NY Times Pulitzer prize winning financial journalist Gretchen Morgensen is writing about how Fidelity are trying to get Colt on the cheap. I said in a post the other day that we needed someone from the UK financial press reporting on this. Who would have thought one of the best financial journalists in the world has spotted this Fidelity/Colt debacle. Gretchen has a reputation that far exceeds anyone this side of the pond. I think we should all be very happy at getting our beef written about by a lady who has been described by her peers as "The Most Important Financial Journalist of Her Generation". A very pleasant surprise and great read on this wet and grey Sunday morning. |
Posted at 19/7/2015 11:58 by dickbush I'm at a loss to understand why Standard Life and Ruffer are selling to Fidelity at 190p knowing what the latest reorganisation will do for EBITDA and Free Cash Flow. Aren't these fund managers supposed to be long term investors? How many of their investments have such potential for appreciation over the next couple of years?I ran through the Independent Directors' recent statement again (with a bit of effort you can find it on Colt's website) and it says that even if you vote against and Fidelity win enough shares to have Colt delisted, you have another 21 days to accept. So you should have no fear of being trapped in an unquoted situation, something that was worrying me until I read that. |
Posted at 30/6/2015 12:00 by dickbush There is absolutely nothing in this latest announcement that would make any of Colt's longer term investors want to sell. On the contrary. |
Posted at 19/6/2015 17:30 by robwt We are in the dark on what fidelty are doing, but they will win no plaudits with their handling of Colt. I feel sorry for the poor suckers who have their pensions invested in any of Fidelity's poor performing funds. They have a few winners, but that is for the luck few.The only good thing about this can only be the gigantic lesson we have all learned, don't invest in any company where the majority of shares are being held by a small investor eating behemoth. It hurts a bit, I hope there is a counter offer...but either way I will be glad to be out. |
Posted at 19/6/2015 11:37 by palace andy Some snippets from Citigroup* Fidelity entities already own 66.6% of Colt and it says it has received irrevocable undertakings to accept the offer for another 70.15m shares (7.8%). Fidelity needs to request the board convene an EGM for a shareholder vote to remove the relationship agreement which stipulates it cannot go above 75% (approval requires a majority of the independent shareholder votes cast). Subject to the removal of the relationship agreement Fidelity needs 80% to delist Colt and 95% to squeeze out. *This move comes as something of a surprise since Colt acquired its sister company KVH only in December 2014 for EUR130.3m. KVH was wholly owned by Fidelity and so the transaction effectively moved part of KVH into the public arena - not a natural move prior to taking Colt private in our view. We rate Colt Buy with a target price of 175p which this offer exceeds. Our Buy case on Colt is predicated upon its asset value, a result of heavy investment over many years which the company has consistently fallen short of converting into strong financial performance. We have hopes though that the corporate restructuring being advocated by the new CFO would bring benefits in due course. In our view independent investors might be justified in thinking that Fidelity is not acting on a purely altruistic basis but also that they are unlikely to get a better offer. There is a small chance that this offer flushes out a trade bid, but given the length of time that the company has been available for an approach we would not place a high probability on this. |
Posted at 13/5/2015 08:53 by palace andy Interesting........I told you a lot of things were happening within Fidelity now that Abby has taken over. Simon Haslam, Chairman of Moonray Investors (the private capital side of Fidelity International) is stepping aside from this role and other day to day Fidelity duties to focus more on his role as Chairman of Colt. |
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