Foresight Share Discussion Threads

[madmix] 11/11/2010 09:39

You're not the only one bigbigdave, took the opportunity to grab some more at 127p.

[bigbigdave] 11/11/2010 09:28

Looks like I've grabbed a few more 8-)

[felix99] 10/11/2010 11:20

thanks - yes I forgot its now in Rule 8 Territory . Their RNS was just a normal one but as you say they will have to notify pretty well any deals going forward.

[strollingmolby] 10/11/2010 10:42

FELIX - it's a bit more onerous than that when dealing in stocks on the Takeover Panel list. Any holder that has declared an interest in >1% of the shares and subsequently buys or sells during the offer period must make another announcement by 3:30pm the next business day.

If shareholders do comply with Rule 8 of the Code then a transparent market is maintained. The general premise is that a company under offer needs to know who holds their shares at any given point in time, and this is reported to the market also to keep a level playing field for all parties to adjust their strategy accordingly.

[interceptor2] 10/11/2010 08:05

I guess with a large holder like Lion Trust, they haven't many options for short term trading in a situation like this. Normally when they make a transaction, they would need a willing party on the opposite side of the trade.

So all they have available now would be the free float, and couldn't buy any larger amounts without sending the price very much higher.

So agree that it would seem they are sending out a message.

Regards.........

[felix99] 10/11/2010 08:02

Enviro - they have done it as they have to notify the LSE anytime they cross a whole % threshold.

So if their last notifiable was 11% as above they have been since then happily buying to just under 12% without having to show their hand again.

By buying the 10k it takes them just over 12% - as you can see so they have had to RNS. This means they can now happily mop up another 1% before they have to show their hand again and I suspect they will just buy any loose stock in the market and keep the price well up for the eventual exit of the business and make sure the final price is good for them and everyone else involved as well no doubt.

Can;t see any downside here. If they send the bidder off packing holding out for a big price its because they know they have loads more contracts to come in I personally would buy any dip. The alternative is they sell out for what is a good price in thier view and I for one would be happy to go with whatever they feel is a good price for giving up the future opportunity now.

But then I've got a traders mentality and happily a lot of stock.

.

[envirovision] 10/11/2010 07:33

Lion Trust buying a token 10K shares to bring their holding to 12.01%. Why? who can say so I am going to have to take an intelligent guess and say the reason in going to the hassle of picking up a piddling 10K shares for them is to send out a message loud and clear to all concerned. Which simply says:

"At this level, we are in no way sellers, we are still buyers".

[davidosh] 09/11/2010 22:42

Just to show where the decision will lie with agreeing a price for the sale of the company. These are the major shareholders...

Azini Capital Partners LLP 8,595,686 (28.90%)

John Streets 8,000,000 (26.90%)

Liontrust Investment Services 3,574,754 (12.01%). updated 10/11


Oryx International Growth Fund 1,440,000 (4.84%)

J.O Hambro 1,150,000 ( 3.87%) updated 11/11

Octopus Investments Ltd 969,170 (3.26%)


John Streets is the founder of Focus from back in 1995 and is a non exec director in FSG. John has a 20 year track record in IT sales and the financial services business working for Honeywell Information Systems, Wang Computers, Fame Computers and Intuitive Systems. In 2000 he led the floatation of the company on the AIM market, raising £10m to further fund the company's development of its technology and solutions. In 2006 John assisted the Board to recruit Richard Stevenson as Group Chief Executive, John then changed his role to Non-Executive Director. John is currently working with a number of start up software companies.

As the float price was over £2 I sense that he would surely want to get more than that to feel the company has been a success for investors. Azini by total contrast bought most of their holding in the downturn and at the depths of the share price so any significant gain from here and with a clean cash exit will be a sensational return for them over three years. Azini are also represented on the board by Nick Habgood who is also a Non-Executive Director.
Nick is Managing Partner of Azini Capital Partners LLP (www.azini.com) a private equity fund management firm specialising in the acquisition of shareholdings in private and public technology companies.

That all suggests that within the board along with the key executives a deal can be agreed and the company more or less delivered via their majority ownership. This should not be a very long process if there is only one party bidding but I sense there may be quite a lot of interest due to the immense potential and superb client list.

[bigbigdave] 09/11/2010 20:10

Shame in a way, was looking forward to a true zulu performance over a number of years up to say 3/4 quid........


....best not grumble too much (missus tells me I'm good at it)

[interceptor2] 09/11/2010 19:58

Well FSG was already my most exciting holding which I had brought into on two occasions, with another purchase planned at 120p. I was really surprised and delighted to be able to buy in again today at 130p, I really didn't imagine that I would have had that opportunity.

Regards.....

[nurdin] 09/11/2010 19:52

The point that CR is making is a valid one..in that the price hardly carries any premium for the bid...it merely reflects the intrinsic value....gotta be 30-40% above here imo..:o)

[interceptor2] 09/11/2010 19:29

Emvirovosion made a very good point on post 224/249, by highlighting the following statement.

"The Board says: We are being jointly advised by Cavendish Corporate Finance LLP and Capital Strategy Corporate Finance Limited, will make a further announcement when appropriate."

And making the point that the BOD must be taking this approach very seriously, and I suspect anticipating other interested parties could become involved. Due to the high calibre of advisors being employed.

Regards..........

[cockneyrebel] 09/11/2010 18:23

I think the point is if there was no bid to come through, what would these fall back to? I'd say 120p to buy.

Then you have to ask yourself, if these were 120p would you be a buyer - I'd say yes because I would - a fwd PE under 10 on forecasts that were likely to be upgraded.

So what's the downside here? 20p max I reckon, what with the results a month away too.

And what's the upside? I'd say 40p minimum, posibly a substantial lot more.

CR

[cfro] 09/11/2010 18:09

Think we will see this marked up much more tomorrow morning, personally. I agree that if this does get taken out it will be substantially more than current price. Obviously whoever is mulling this over they are pretty serious about it.

This must incite a bidding war now.

[cockneyrebel] 09/11/2010 17:48

Nice - I'm not holding 150K - that's a right result :-)

CR

[mikeja] 09/11/2010 16:07

I agree the profit forecasts look far too low.

[mikeja] 09/11/2010 16:06

Started buying them at about 50p but accelerated after contract win,see my very early posts on thread.Now up to 160k,looking for a bid of 180+ perhaps with more than one or two suitors.

[cockneyrebel] 09/11/2010 15:54

mikeja - yep, big holding for me here - been buying them up from the big recent contract win - as big a position as I dare hold really but being a zulu stock I feel rather comfortable with it - so I'm having a rather nice day.



First of a number of bits of media coverage imo - Shares, IC and the FT should all cover it this week too as they've all mentioned FSG and the big contract win recently - imo.

(PS - leave the size of my holding and my big head out of this :-))

CR

[nurdin] 09/11/2010 15:44

mikeja....dont give him that..he gets big headed :o)

[dealit] 09/11/2010 15:39

Hold tight to these IMHO, MM`s have being playing games with these shares for ages. The price is to cheap hopefully the directors realise what a great product they have with such World wide scope.

[mikeja] 09/11/2010 15:35

Not surprised to see u here CR,a man of taste and discernment.
Do you have a big holding-not a personal question you understand.

[carver66] 09/11/2010 15:24

Just topped up with another 5000 shares at 134.25 which moved the bid. Good luck all.

[cockneyrebel] 09/11/2010 15:04

sorry but I'm not falling for that carp - mm's shook it once earlier, there's no way they are marking down when they've been prepared to pay a big premium for stock online here today imo.

Reckon they have more buys to fill.

CR

[cockneyrebel] 09/11/2010 15:01

I think these will have a second wind tomorrow after those new to the stock run the slide rule over it and a bit of press coverage gets the juices flowing.

FT perhaps or Foster in the Mail tomorow imo.

CR