Foresight Share Discussion Threads

[cockneyrebel] 07/12/2010 20:02

Well I put a chunk of the cash from FSG and stuck it in FENR this am - was up 3p at the time - closed up 16p so already up 4% on pay out :-)

I can't see that holding for the 140p when you get 136.5p today is worth it when the market is on the up like this but depends how you invest I guess.

CR

[simon gordon] 07/12/2010 19:28

Interesting perspective:

IFA Online - 7/12/10

AT8's Mark Loosmore asks if Standard Life's purchase of tech provider Focus Solutions will bring it closer to the banks and if other distributors will be happy with the deal. The latest proposed takeover in the technology space was announced this morning and it was a slight variation on the M&A activity seen to date; namely a Product Provider - Standard Life - acquiring Focus Solutions, one of the leading Financial Services e-commerce companies.

[dasv] 07/12/2010 10:56

yeah it could have been worse - e.g. an offer UNDER the share price or talks off and no other bidders.

[cockneyrebel] 07/12/2010 10:28

Lobbeb the 55K out my portfolio @ 136.5p - reckon I can use the cash better than wait for the sale to go through, what with a breakout in the US looking likely imo.

I'll sell those in my pension when I need the cash.

I suppose at least it's a cash agrred bid rather than learning it was shares today, or the bid was off.

CR

[lomax99] 07/12/2010 10:18

Most disappointing, anyone have a realistic timescale to payout - end January? Thanks.

[dasv] 07/12/2010 10:11

I had high expectations here. FSG had become my biggest holding by value. I'm quite disappointed - when I logged on a bit late today and saw the price spike I assumed we were off to the races. Still I remember looking at FSG in the 40-50p range and being put off by the 10% spread. Although I did buy some at about 70p I bought much more in the 130's. I guess we are going to have our money tied up to wait to avoid the spread on sale completion.

[simon gordon] 07/12/2010 09:56

Money Marketing - 7/12/10:

Standard Life is to acquire technology firm Focus Solutions for £42m.

The offer, tipped by Money Marketing last month, values Focus at a 33 per cent premium to its share price on November 8, the day before it disclosed it was in talks with an unnamed bidder.

Standard Life says Focus' technology platform, which includes point of sale software, will combine with its wrap platform and threesixty's support services offering to provide a full solution to advisers as well as helping to grow its retail bank and direct business.

Standard Life group chief executive David Nish (pictured) says: "Combining our award-winning Wrap platform, the threesixty proposition and Focus technology enables us to offer a market-leading customer experience, built on a full set of supporting processes and technologies to distributors, alongside our traditional product and investment offerings.

"This strengthens the overall position of the group as the UK market for our propositions and services develops further over the next two years leading up to RDR and beyond. These solutions will also help to grow our retail bank and direct-to-customer distribution."

Focus chief executive Richard Stevenson says: "While we will continue to deliver best-in-class solutions to our target market, going forward our customers, employees and our business will have the benefit of the support and reach that being part of the Standard Life Group will bring."

Focus' half year results, published today, show a £1.12m profit before tax for the first half of 2010, compared to £0.15m for the first half of 2009.

[felix99] 07/12/2010 09:07

As Simon says I assume the 57% acceptances are because they have had an auction between all the bidders and this is it and the best price.

At the end of the day paying £40m odd is just the lazy way of getting the software.

Any software house I guess can write the same stuff ultimately from scratch and development cost might be £20m + time to do it and leg up for sales if it becomes the standard.

I guess any Inidian software outfits have the programmers ten a penny and the premium to have first mover advantage here may not be worth it. If target is Far East Focus may need sa fair bit of development for that mkt anyway and presuambly they won;t have first mover over there.

Lets not be greedy I got tonnes bought in 70's and 80's.

I remember Chieftain - though tthat was stolen at £2 odd I think it was but in hindsight before mkts imploded it was sale of the centuiry and directors timed it beautifully .

In my view SL don;t understand how to run the business they know very well - so gawd knows how they will run FSG lol.

I assume the attraction for the Board as well is they keep their jobs etc and autonomy whereas any other software house coming in will have a cull of some of the top guys I dare say.

As for another bid - well someone could come in and try and buy 25% to block SL. They would then have to either buy a majority stake without proper control or walk away and sell to higher bidder by letting their bid lapse.

So will hang on to mine for time being.

[ukinvestor220] 07/12/2010 08:52

Shocking !!

[envirovision] 07/12/2010 08:45

Maybe Simon. Easy money for the market makers this morning. No way im selling, pointless giving up 3.5p or more plus dealing costs, also just in case, you never know.

[simon gordon] 07/12/2010 08:10

Enviro,

I don't think there will be another bidder as they've been under quasi auction for the last four weeks. No software house has come in with a blockbuster bid, so maybe they're not as hot as we all thought.

[envirovision] 07/12/2010 08:07

The statement seems as if its been written by standard life for its own shareholders.

I wonder if FSG are going to issue their own statement to us about the takeover?

[mikeja] 07/12/2010 08:03

Under the Companies Act 2006 the directors have a statutory,fiduciary duty to act in the interests of the shareholders,hard to see how this has been carried out.

[envirovision] 07/12/2010 08:01

Still mustn't gruble i've made ten grand out of FSG in the last 3 months and if there are other people interested a second bid could emerge before the dots and t's are done yet.

[chester] 07/12/2010 07:49

owenski - exactly my thoughts, 2 robberies in one week, CPSP and FSG.

[rivaldo] 07/12/2010 07:47

Yep, a derisory offer given the prospects, but 57% acceptances from directors so not much that can be done. Surprising to me that the directors are so keen to accept.

[interceptor2] 07/12/2010 07:40

Well there we have it, 140p offer from Standard Life.

A derisory offer, lets hope another company come in now. I will certainly vote against this offer, not that it would make much difference.

[cockneyrebel] 07/12/2010 07:37

Got a wadge of CGT to pay now too :-(

CR

[skyracer] 07/12/2010 07:35

Pathetic. FSG would have got to 140p today even without the offer.

[bigbigdave] 07/12/2010 07:34

Move on guys, plenty more opportunities out there. Had a big stake here so the cash is now freed up to invest elsewhere.

More to the point - first test in the bag!

[stegrego] 07/12/2010 07:32

Doesnt look like they have that many shareholders in the bag yet...

[amt] 07/12/2010 07:30

"The Focus Directors believe that the acquisition will allow the business to
accelerate growth and that existing customers will be able to benefit from
greater investment in Focus' solutions, in line with their increasing demands
for collaborative multi-channel software. Furthermore, the Focus Directors
believe that the acquisition will enable Focus to grow faster than it would be
able to do as an independent company and that being part of the Standard Life
Group will provide an opportunity to extend its customer reach and enhance its
market position."

So bloody what, I thought the Directors only have responsibility to their shareholders.
Its incredible the number of times that shareholders are not put first.

[gripfit] 07/12/2010 07:28

dealit . lol, and you didn't know about this ?!! ' does any body think there may be a bid tomoro',,,,,,,'does standard life have an it unit' lol