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GDWN

Goodwin Plc

4,490.00
60.00 (1.35%)
Share Name Share Symbol Market Type Share ISIN Share Description
Goodwin Plc LSE:GDWN London Ordinary Share GB0003781050 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  60.00 1.35% 4,490.00 4,410.00 4,570.00 4,420.00 4,420.00 4,420.00 1,234 16:35:25
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Engineering Services 144.1 13.0 172.5 25.8 337.94

Goodwin Share Discussion Threads

Showing 1651 to 1674 of 1675 messages
Chat Pages: 67  66  65  64  63  62  61  60  59  58  57  56  Older
DateSubjectAuthorDiscuss
02/6/2023
15:57
I see ii's Richard Beddard also declined the tender offer too.
cfro
01/6/2023
10:25
I don't think there will be another RNS - we know what we need to know. And the RNS explains the mechanics - inc the pro-rata additional take.

Anyone tendering 2.34% of their holding will be fully satisfied

Anyone tendering over 2.34%, will have 2.34% taken. For any shares tendered above this will have their offered shares scaled down to the extent needed to satisfy the overall take of 180,000 shares. In the example I gave above it would result in about 36% take up of these excess tendered shares.

I suspect they won't look through the shares held in nominee accounts to the individual underlying shareholders, so the percentages for different nominees will differ - possibly markedly so.

But overall, that's how it should work. And I doubt anyone who tendered will be disappointed - especially as they can still buy back shares at below the tender price.

garbetklb
01/6/2023
09:27
My maths isn't great but i do know that 411,371 does not go into 180,000 Lol..

Therefore there will be many disappointed investors. There are one or two important figures we don't know however like the total number of shareholders in GDWN and the total number of shareholders who tendered.

We will have to wait to find out.

cfro
31/5/2023
18:39
I bought extra shares immediately the tender was announced, then tendered my whole holding. I will have 2.34% taken, then the balance of 97.66% of my shares will go into a pot.

The proceeds of the pot will be determined by how may people didn't tender at least 2.34% - and we know the family didn't, nor did cfro; and I suspect a lot of other shareholders.

Overall 411,371 shares were tendered. Let's say 50,000 shares were tendered as 2.34% qualifying - in fact I suspect the figure will be less.. That leaves 361,371 excess shares tendered and Goodwin having 130,000 shares left to buy back.

So, IF spread evenly, they will buy back a further 130,000/361,371 = 36% of shares tendered in excess of each shareholder's guaranteed 2.34% allocation. So the uptake should be around 40%.

In advance I'd guessed at 25%, so I've been left with a smaller shareholding than I wanted - so bought a few more back this morning.

Because of the way the Nominee system works, it won't necessarily be even - but shouldn't be too far off. I'll update with the % allocated across the 3 platforms that our family use once known - Iweb, Interactive Investor, AJ Bell.

garbetklb
31/5/2023
18:18
Anyone who elected for more than 2.34% will get at least some more, as we all know the Goodwin family didn't tender, nor did many others.
gdjs100
31/5/2023
16:30
The guaranteed entitlement was only 2.34% with the maximum shares being bought 180k.

If it's therefore over-subscribed which ii has been by 229% then many investors if not all will be scaled back.

I would be interested to hear if any investors did manage to get away more than 2.34%?

cfro
31/5/2023
14:58
But it wasn't 2.34%. About twice that guaranteed because the family were not participating. And, in reality, somewhere around 40%.
garbetklb
31/5/2023
09:12
As i suspected it was considerably over-subscribed at 229%. Not surprised when such a good price of £48 was offered..

I never bothered tendering any of my shares because 2.34% simply isn't worth it. I have no interest in selling on the contrary i intend to add to my holding in the future if anything..

cfro
31/5/2023
08:16
JAF

Maybe not at current prices, but there will be a top up demand if and when the share price retreats, for whatever reason.

red

redartbmud
31/5/2023
07:15
No surprise but tender offer well supported….will be interesting to see how many people now buy back the shares that they tendered…..
jaf111
30/5/2023
10:55
Yes, results should be announced tomorrow morning.
cockerhoop
30/5/2023
07:21
Gdwn tender offer due today
arregius
09/5/2023
16:07
Good point Garbetklb
jaf111
09/5/2023
16:02
And the position MAY be complicated by the fact that most private investors will be holding the shares in a Nominee Account (eg Hargreaves Lansdowns, II, AJ Bell etc). Whether the tender will look through the nominee to the beneficial shareholders, I don't know.
Certainly, in a previous tender situation I was involved in, the % allocated varied v significantly by platform.

garbetklb
09/5/2023
14:02
So, by my understanding, if you tender 5pc, you may get less than that because there may be other non-Goodwins who have tendered maybe 100pc of their holding who could take up a disproportionate amount.
gdjs100
09/5/2023
12:44
JAF, Its worth reading the circular on the GDWN website.

If the total tendered is less than 180k, then everybody sells the amount they tendered at £48.

If more than 180k are tendered, let's call that x shares:
- First, for each shareholder, anything that is tendered up to 2.34% of their holding, will be bought in full, lets call that y shares;
- The balance that has been tendered is (x-y), with (180k-y) shares still available
- As per the circular, everybody who tendered above 2.34% then sells (180k-y)/(x-y) of the number of shares they tendered above the 2.34%, at £48.

shanklin
09/5/2023
10:13
Seems sound Shanklin but why not 5% purchase on basis that the concert party not tendering so therefore you are almost certainly going to get if you tender???
jaf111
09/5/2023
10:06
Don't want to reduce my current holding but have added circa 2.397% to my holding to submit for the guaranteed part of tender. 180k of 7689600 shares.
shanklin
06/5/2023
12:09
I don’t disagree tiswas….and in a sense I hope you are right in which case the tender % could be considerably higher!

Actually I am still mulling over my options….for me GDWN is such a classic long term hold so why would I want to sell any? But then again the tender price is quite attractive 😀

It will be interesting to see how the price moves over the coming days….I was surprised it only rose 6% on the news but think it will go to 45 before the tender offer closes.

jaf111
06/5/2023
10:33
That is true JAF but why would anyone have a position such that selling 5% is a worthwhile exercise? Even selling at 48 and buying back at, say, 40 is making 20% on 5% so 1%?

I appreciate it is making a very positive statement about the business going forwards but just too messy to get involved imo.

tiswas
06/5/2023
10:03
Surely the tender will be at least 5% due to the fact that the concert party (which account for over 50% of the shares) have agreed NOT to tender???
jaf111
06/5/2023
10:00
Thanks Felix - I'm a bit more relaxed now. It's a long term holding and a major position for me.
garbetklb
06/5/2023
09:58
That share option deal is the only blot on the landscape in many a long year. It was overgenerous to say the least. In the past now though.

red

redartbmud
06/5/2023
09:52
Garbetklb

Final options on the 2016 LTIP were exercised here 1 June 21 - so all paid out and in the share price as it were

http://uk.advfn.com/stock-market/london/goodwin-GDWN/share-news/Goodwin-PLC-Issue-of-Equity-and-Director-PDMR-Shar/85247422

felix99
Chat Pages: 67  66  65  64  63  62  61  60  59  58  57  56  Older
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