Gresham Technologies Share Discussion Threads

[qantas] 11/7/2024 13:27

GHT Gone today good luck to all that sailed in her...

[wjccghcc] 20/5/2024 14:58

Pretty sure it's a done deal once the vote is passed.

[richjp] 20/5/2024 12:28

I assume after last week's meetings that this is now a done deal, or is there still a possibility for somebody to intervene before the Scheme Court Hearing still to be held?

I also do not understand why they are encouraging people to attend the AGM. What is the point if the company is going to be delisted?

[cousinit] 09/5/2024 14:32

I have no idea what the purpose behind the recent Morgan Stanley holding is. It isn't indicated as being on behalf of the bidder.

As you say, some other holders have generally been selling down fairly aggressively and the bid price has been very tight to the offer.

There's not much time now before the vote. I've submitted my rejection.

You would assume anyone material objecting would show their hand pretty soon.

[nchanning] 09/5/2024 14:14

Could somebody help me understand, are the new shareholders buying the shares intending to reject this bid , as the number of acceptances keeps going down ?

[qantas] 29/4/2024 07:41

Such a fix shareholders shafted Gresham posts strong results as it gears up to leave the London stock exchange.


London-listed tech firm Gresham Technologies has reported strong full year results as it gears up for a vote on a recent take-private offer.

The software and services company said pre-tax profit grew by £1.6m to £3.1m in 2023 after its high-margin Clareti business turned a profit for the first time the previous year.

Earlier this year, the firm won a contract worth $1.5m (£1.2m) for its Clareti Control platform, designed to help financial institutions control their data.

Total revenue notched up two per cent to £49m last year and Gresham has a cash pile of £4.8m, with no debt.

Gresham added 12 new clients in 2023, bringing its total direct customers to 270 across 30 countries.

Chief executive Ian Manocha said: “In a challenging market, most especially in the first half of 2023, our talented team delivered strategic new wins, improved on customer ARR net retention, and further lifted margins in the Clareti business and across the Group as a whole.”

Manocha continued: “The improved resilience enabled the Group to further reduce its dependency on legacy revenues, stepping away from its low margin sub-contracting business at the end of the year.

“The Group has now completed its transformation into a modern subscription software and cloud services business. Whilst markets remain difficult, with elongated sales cycles, we have made a positive start to 2024.”

It comes three weeks after Gresham announced it is set to be bought by STG Partners, an American private equity firm, for just under £150m.

This deal requires the approval of shareholders, who will vote on it on 16 May.

Gresham’s board said that the “low level of liquidity” on the London Stock Exchange was a key factor in its decision to step away from the public markets.

The news sent shares in Gresham soaring and the stock is up nearly 40 per cent year to date.



Please do your own research as always and follow FCA guidelines.

[gottafly] 24/4/2024 11:10

What is also interesting is that Alveo would appear to be of Dutch origin and considerably smaller that GHT but of course there is very little information in the public domain unlike GHT.

So not only is this a delisting but would appear to be a form of reverse take over with GHT as the major party.

Also several institutions have increased their long position so clearly they are looking for a price upside, so just perhaps a higher bid will be made, certainly GHT is in play.

[qantas] 24/4/2024 08:35

Game Over, so cheap I am afraid you have all been shafted.

Please do your own research as always and follow FCA guidelines.

[gottafly] 19/4/2024 17:29

Simple truth is the price is too low.

[gnnmartin] 19/4/2024 16:26

Interesting to see Morgan Stanley increasing their holding in GHT. I'm too lazy to look up and see if they are in concert with the bidder, but if not, it suggests they think a higher price might be extracted from the bidder (or a competing bidder).

Doubtless there is a good bit of wishful thinking on my part!

[crazycanuck] 18/4/2024 07:04

if planning to vote

[richjp] 17/4/2024 08:00

They were originally going to announce the results yesterday, but the takeover document said it would now be by the end of April.

[crazycanuck] 17/4/2024 07:39

nice pay day for ceo.

[crazycanuck] 16/4/2024 16:24

so because of takeover approach, I assume they don't need to publish their year end financial statement as it was supposed to come out today?

[richjp] 15/4/2024 17:11

cc, I am holding on primarily as I am hoping for a higher bid.

As I understand it, they only need to get over fifty per cent to have control over the company. At that point they could then appoint their own directors.

At seventy five per cent, they have much more power to buy in shares etc. Anything below seventy five per cent would not be ideal for the buyer and an even poorer result for the remaining smaller shareholders, who would have no power and be holding shares in a company where trading would be even more illiquid than it is already.

[gnnmartin] 13/4/2024 12:06

Schroders sell 4.375m of their 7.735m shares. Schroders had 'assented' their holding to the bid, so this reduces the number of shares that are assented (though maybe we'll find Bidco were the buyers). Presumably Schroders don't think there will be a higher bid, and/or think the bid could fail.

[gottafly] 11/4/2024 17:46

I have already decided to vote against, something very fishy here.

[crazycanuck] 11/4/2024 17:23

So you don't think the bulk of these are by bidco?Do they have to follow the rules re disclosure of shares held?Just curious if most of you holding on to see if a) another bid might materialize, b) bidco increases offer if unsuccessful in buying 75% or c) waiting to at least see results before deciding.

[tiltonboy] 11/4/2024 15:21

Some decent volume again. Very well bid also. It will be interesting to find the identity of the buyer(s)

[qantas] 09/4/2024 21:19

Please do your own research as always and always follow FCA guidelines

[amt] 09/4/2024 21:16

Probably be floated off again in 5 years at 5 times the price.

[crazycanuck] 09/4/2024 18:46

Well even made it into the times business section today.

[tiltonboy] 09/4/2024 18:36

Some large trades printed after hours

[richjp] 09/4/2024 16:31

gnnmartin, that sounds encouraging and I hope you are correct.

Reflecting on this I will be 78 next month and although I think that GHT is worth more,it is my largest shareholding and by turning my holding into cash it will give me some certainty. I will have done reasonably well out of it, but not as well as I was hoping.

If their challenges are as they have stated, then the share price was only to stagnate at best for maybe a long time or even go down. I am in good health, touch wood, but for my personal circumstances this may be for the best.

When they announce the results the message is bound to be somewhat downbeat in line with today's RNS.

I would still like to see a counter offer though.

[weatherman] 09/4/2024 14:03

Private equity seems to be hoovering up good quoted companies on the cheap, because for long periods the market undervalues those same small companies - thus making it harder for small investors to succeed. What is left is of lower quality. Value is becoming ever more concentrated in the hands of the already wealthy.