Profit would have been £0.5m higher without the Rowland bid. I wonder if they are feeling generous and wish to repay it? Or WH Ireland whose advice to sell at 300p was clearly rejected by the majority of shareholders. |
So, they cancel the div to make sure there's cash for acquisitions, now they say they're still on the lookout for acquisitions but could return some cash to shareholders. Why not just reinstate the div? Are they taking consistency lessons from Theresa May? |
So, may get a special dividend. |
Would be nice!
How about: disposing of one or both of the UK businesses. With the Falklands finally looking like coming good, and Argentina/UK relations improving, perhaps it's time to ditch the defensive bits and concentrate on the prospects in the Falklands. |
"The Board of FIH will be issuing a customary Trading Update via RNS on Thursday 20 April 2017 outlining details of the Company's expected trading results for the year ended 31 March 2017, which remain subject to audit. The Trading Update will include details of the Board's views on the strategic direction of the Company following the lapsing of the offer by Staunton Holdings Limited, the decision of Dolphin not to proceed with an offer and the recent changes in the composition of the Company's shareholder register. "
It looks like major new shareholders are putting pressure on the board for a change of direction. Maybe we'll get a dividend payment back ! |
I don't think rights need to be reserved so I suppose its a cliche. |
Dolphin is not going to make an offer at the present time, but reserves the right to increase its holding. |
The price is sill above the 300p offer despite offer ending and FIG letter undermining Dolphin's possible bid. Some buying behind the scenes. |
Surely if the company already owns its land a change in beneficial ownership of the company won't make any difference? The letter from the FIG seems irrelevant, or am I missing something? |
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Does lapsed mean that they have withdrawn the offer?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. |
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