Thank you for reply. |
Yes - as it says in the RNS the shares have been returned to accepting shareholders. |
Does lapsed mean that they have withdrawn the offer? |
So bid has lapsed...only down a tad. |
It shouldn't take long for the Rowlands to count up their level of acceptances :) |
So, Fidelity has used this bid process to exit a sizeable holding. Can it be that they put pressure on Rowland to bid so they can sell in the market? Does Rowland family really want to win all of FIH? Why else stick so rigidly to a losing position? FIL shares seem to have been sold above the bid price to people / inst. who seem keen to hold on against the bid. I don't see any other inst. rushing for the exit? |
None - I was speculating. And as it turns out a JFC Watts has bought it, adding to his/her stake. |
What evidence do you have that it is Dolphin ? |
So... has Dolphin snapped up FIL's stake? |
I had the same - I told him I thought it was worth 450p, and he should feed this back to Rowlands. |
I just took a call from a chap from Staunton asking me if I had/would accept their offer. I told him no and when he asked why I told him because the independent directors are Rowland puppets and if Elsztain wants the art business and the ferry for £3.30 a share then good for him. |
What is it with fish? Blackfish, Bonefide Fish, Dolphin (OK not really a fish).
The Carver Family now have 7.3%.
We'll see what Dolphin are planning soon. |
I agree with you wholeheartedly. |
What are the duties of independent directors in a bid situation? Funny how in 2015 WH Ireland was saying FIH was worth 450p - why is it now only worth 300p?
It seems to me that the best thing for FIH is for it to remain an independent listed company and for both bidders to go away, and Edmund Rowland preferably to resign so we can have a dividend payment back. Many hold FIH partly for sentimental reasons anyway.
So my advice is to ignore both low bids.
And Martin Janser is still buying. |
I wonder if the Argentina government will be equally understanding of their own citizen's willingness to bolster the status quo. Further militarizing of the islands is how it will look to them and their voters. Of course, if they don't stop him that may be because they know his assurances will be worthless once he actually has control. |
Interesting Gheebee.
The fact that Elstain has already had some "involvement" with the sensitive issue of Falklands defence, via Rafael, would suggest that he is already an "approved supplier". In which case his potential involvement with relatively non-sensitive commercial issues should make him acceptable, especially as Dolphin say they wish to retain management status quo and possibly introduce further investment to the islands. |
No
Regards |
Something else slipped out today - announcement by FIG of new port facilities. This can only improve trading further.
hxxp://us8.campaign-archive2.com/?u=2abe0425e0c8db5d48bd90c90&id=0999c95cd3 |
Dolphin may be more likely to get a deal done if they become a minor partner in a bidding consortium with UK partner. This may run further. If you are a short term holder you may wish to sell on Monday morning mark up, but longer term holders may wish to hold out for more - imo dyor. Even if a bid fails remember the improvement in trading noted a few weeks ago. |
The question is: if the share price rises anywhere near the new offer, should we sell in the market and run on the basis it might not become a formal offer, and even if it does it might fail if the FIG or UK govt stick their oars in. |
And there it is, an indicative offer of 333p after close of play. It seems designed to wreck Rowland's bid. |
Who knows - Elsztain seems quite determined to at least to stop the Rowland takeover by wishing to offer more. |
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