Flowtech Fluidpower Share Discussion Threads

[varies] 13/5/2008 10:35

bungler
Thanks for your definite answer to my query about the price paid by Mentor to Pricap. I may have been wrong in attributing the report of a price of c.50p to the FT but I certainly saw it somewhere.
The point is somewhat academic but I am glad to know the correct figure.

[engineer66] 13/5/2008 10:13

I was interested in the forward p/e of 9. Couldn't find this on the FLO site.
Yet it's credible. If only I could find other companies with genuine growth prospects and a competitive market position on anything like that ratio. I'd be really, really grateful for any inspired suggestions! I am about to look over Mentor shares but I bet they are not very cheap. And if they get Flo, it will be earnings enhancing with pleanty of synergies.

[bungler] 13/5/2008 08:04

I don't know where this idea came from that Mentor had paid 50 odd pence when they bought out Pricap's stake. Their offer document makes it quite clear:
"On 14 March 2008 it was announced that Mentor had acquired Pricap's entire
interest in Flomerics Shares at a price of 104 pence per share".

The offer document also states quite clearly that that price was: " a premium of 109 per cent to the Closing Price of 50.5 pence per Flomerics Share on 13 March 2008, being the day before the announcement of Mentor's acquisition of a 20.1 per cent interest (at that date) in Flomerics from Pricap".

[psolomons] 12/5/2008 22:44

For as long as the mentor offer lasts the floor is 104p so there is absolutely no point in selling at the moment unless you need the cash. My guess is that this will all be sorted by the time the AGM comes round on the 28th of this month. I suggest its important to keep the shareholders amongst flo staff happy so any improved offer will hopefully get nearer to their expectations.
I reckon an improved offer of 120p is next.

[battlebus] 12/5/2008 22:05

The quote from Flo that Mentors offer only equates to a forward p/e of 9 says it all. Still very confident that an offer in the region of 1.25 will happen soon, not bothered by sellers some people choose to sell at 50p thats their perogative.

[cockneyrebel] 12/5/2008 21:30

How FLO-esque is this - 12% of MSQ traded today @ 8.6p in one trade - over 50% above the market price. Needs a similar RNS to what FLO put out now imo.

There must be some real bargains out there and some keen buyers gagging to buy stuff like FLO on the silly undervaluations imo.

CR

[source] 12/5/2008 21:11

Seems a a very poor indictment of the current management if so many sellers are willing to sell so cheaply - indicates very little faith. (told them so last year too! :)

However recent statements seem to show they have got a sharp hint & are promising much better this year & next...Wish they'd convince the institutes of their conversion - it may help them.

Regards
SOURCE.

[engineer66] 12/5/2008 20:58

Perhaps cut and run from the institutions or tree shaking.

[bungler] 12/5/2008 16:26

Actually that's all from America - so have removed.

[techmark] 12/5/2008 16:26

The other problem is that with institutions strapped for cash or some portfolio mangers showing losses, they may unfortunately be encouraged to cut and run for 104p.

[bungler] 12/5/2008 16:21

Deleted post. Incorrect information.

[techmark] 12/5/2008 16:13

Think it's 50% and I don't think Mentor can pay more than 104p for any stock unless they raise their offer. So if you start to see large trades going through above 104p then either there is another party interested or Mentor will be raising their bid.

[bungler] 12/5/2008 15:43

Indeed - wish the Japanese mob would start buying - or any of the other supposedly interested parties. Do you know techmark whether 50% is enough - have a nagging feeling that they need 70% but can't remember why I think that...

[techmark] 12/5/2008 15:33

Yes it's going to be a problem I feel, this is aggressive play by Mentor. If there is another interested party they need to step up pretty quickly. Still no reason to sell as worst case scenario is the 104p offer from Mentor.

[bungler] 12/5/2008 15:31

I do wish people would stop selling their shares to Mentor - it looks like that's another one a a half per cent on their way to 50%....

[techmark] 12/5/2008 15:27

Another 350k at 104p. I would guess that's Mentor again now they have made their bid.

[bluefunk1] 12/5/2008 12:15

I wouldn't worry about Mudbath. He always hoped there wouldn't be a takeover as he thought although there might be a short term drop in the share price (if T/O didn't happen)going on the fundementals we'd all have be much better off in a years time. I very much doubt he sold a single share..

[psolomons] 12/5/2008 12:04

Mudbath was strongly advising that there would be no bid. i hope he didnt lose anyone money through his prediction. I confess to nearly selling a few at 85p because of his certainty there would be no take over attempt. I agree that he has been bullish for some months but in my view he blew it in the end, on FLO at least.

[bungler] 12/5/2008 08:49

Psol - I wish. Engineer66 - imho - in my humble opinion

[psolomons] 12/5/2008 08:32

You only hold 10% of the company though Bungler. That won't get them there !
Seriously though I wish i had the courage of my convictions and bought a load more a few months back when all this bidding and buying looked a dead cert.

[amt] 12/5/2008 08:30

Still a no brainer, even at 1.10P. downside 6%, upside 30% ++++

[bungler] 12/5/2008 08:26

Well either that or they can try and buy the extra 20% minimum they need in the open market. They're not having mine for less than £1.30 though!

[engineer66] 12/5/2008 08:24

battlebus - what's imho pls.

[psolomons] 12/5/2008 08:19

Mentor simply wouldn't make an opening offer which they knew would be rejected only to walk away. My guess is that they will return with more money. Any rivals will akso have to move quickly. All good fun for us either way !