Gresham Technologies Share Discussion Threads

[gottafly] 19/4/2024 18:29

Simple truth is the price is too low.

[gnnmartin] 19/4/2024 17:26

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 08:04

if planning to vote

[richjp] 17/4/2024 09:00

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 08:39

nice pay day for ceo.

[crazycanuck] 16/4/2024 17:24

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 18:11

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 13:06

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 18:46

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

[crazycanuck] 11/4/2024 18:23

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 16:21

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

[qantas] 09/4/2024 22:19

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

[amt] 09/4/2024 22:16

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

[crazycanuck] 09/4/2024 19:46

Well even made it into the times business section today.

[tiltonboy] 09/4/2024 19:36

Some large trades printed after hours

[richjp] 09/4/2024 17:31

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 15:03

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.

[stewartf] 09/4/2024 14:02

I've been a holder of these for 40 years since buying some in an Employee Share Purchase Scheme back when one of the ancestor companies in the group was based in Oxford. I sold out some years ago apart from retaining a token amount for sentimental reasons.

So I've seen it go from Private to Public Limited, suffer internal board level coups, have some great and some awful management, merge with others, and now likely go Private again. Full circle.

Over the years I've seen some highs and some very low lows, but it looks like we are now entering the end game for Gresham. It never really delivered on the promise of some great products.

Good luck, especially to all the long term holders here. I hope you end up with a profit, or at least break even.

[gnnmartin] 09/4/2024 11:34

Yes, a higher bid could & would receive attention.

[richjp] 09/4/2024 11:23

I have thought for some time that a bid would be coming but was hoping for more than this.

They talk of irrevocable undertakings however does anyone know if a higher bid were to come along, would the board still be obliged to consider it as a duty to shareholders?

I have a feeling that that happened a few years ago to a company I had shares in, but maybe that is just wishful thinking.

[crazycanuck] 09/4/2024 10:45

point 9 ( Irrevocable Undertakings and Letters of Intent) in the appendix is quite interesting. If they don't get the 75% I wonder if they would increase offer.

[qantas] 09/4/2024 10:25

Share holders well and truly shafted at 163.80p it under values the company.

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

[weatherman] 09/4/2024 09:42

All the good software cos in the UK are getting taken out, leaving fewer investment opportunities.

[amt] 09/4/2024 09:06

Maybe a profit warning coming and outlook not as good as hoped. Great buy though since large cash generation without the overheads.

[gnnmartin] 09/4/2024 09:04

Very disappointing.