Horizon Discovery Share Discussion Threads

[carpingtris] 01/7/2019 17:13

Struggling to read that RNS on phone but is Woodford now under 5% from 7%? Whose been buying then?

[carpingtris] 01/7/2019 09:52

Is there a takeover in the offing?

[jurgenklopp] 01/7/2019 09:51

amazing what freedom from Woodford does for the share price !!!

;o)

[williamcooper104] 30/6/2019 23:06

I’m keen for some of mine to be so opportunistically plundered :)

[bouleversee] 30/6/2019 22:29

I'm sick of my holdings being opportunistically taken ovrr for ludicrously low values. RPC is s typical example! t/o at price ovrr 2 yrs.ago.

[williamcooper104] 30/6/2019 21:59

Thanks all - long(ish) term holder of yo yo HZD - now topping up

[jurgenklopp] 28/6/2019 11:31

Hopefully Woodford will offload his entire stake in an orderly fashion over the next few weeks.

An interesting take on how ValueAct operate can be seen by the takeover of Merlin Entertainments today. Basically ValueAct pressured the Merlin board to sound out potential purchasers as they thought the Company was very much undervalued. This morning a consortium led by family members of the Lego owning dynasty have indeed made a £5.9 billion offer.

ValueAct don't mess about so their 20%+ holding in HZD ought to be a pretty good signal that there could be very positive developments here in due course.

[nchanning] 28/6/2019 09:21

Woodford had 11.6 million shares left after recent sale. Nearly 6 million yesterday traded and 2.7 million this morning . Very bullish signs when a forced seller can quickly unload a large stake without a huge price drop. And directors reaching into their own pockets too ...

[jurgenklopp] 27/6/2019 09:01

Looks like Woodford has offloaded another 2 million shares this morning.

It will be very interesting to find out where they have ended up.

If it is ValueAct then they will be well over the 20% mark and on the way to 30% where they must make an offer for the Company so I do not suspect it will be them.

I think (and hope) this is now 'in play' so we could be in for a very interesting few weeks.

[mamcw] 26/6/2019 11:06

The companies in which Woodford holds large shareholdings are definitely in play. BCA has been bought this morning, and according to press reports, he has hired investment bankers to exit other ones. ValueAct's 20% holding provides an effective balance to WIM's short term needs, but as has been pointed out by others, ValueAct now has a very high percentage of its fund in HZD, and will be equally keen to show it as a success.

[jurgenklopp] 25/6/2019 07:52

At last some director purchases !!!

[rambutan2] 21/6/2019 02:19

ValueAct are a renowned investor in the States, so perhaps another US insti has decided to get in on their coat tails, and at a much better average price.

I had a look back at the trades/prices at the times ValueAct was building and declaring its stakes. The first rns said it hit 5% on 31/08/18 and i don’t think it paid under 195p, we then go to 11/10 when it reaches 10%, 15/10 13% and 08/11 14%, all trades somewhere between 195p and 205p. On 01/02/19 18% is reached buying between 165-175p, and this week the latest tranche was bought between 143-146p. So i reckon it’s got an average buying price of say 185p minimum, and has spent £54m ($68m) on HZD shares so far. The Spring Fund launched with $350m, so with circa 20% of the fund in HZD, that is a very big bet Mr Ubben has taken with his new baby. Of course, he does have a view from the board in the shape of Ms Krivitski, and you can only assume that he must be liking what he’s hearing...

[jurgenklopp] 20/6/2019 09:14

Over the last few weeks Woodford has cut down his stake from 12.52% to 7.7% of HZD - a decrease of 4.82%.

ValueAct have upped their stake from 18.25% to 20.9% - an increase of 2.65%.

This still leaves approx 2.17% of HZD which Woodford has offloaded to someone but is, of course, still below the declarable threshold.

[pjj71] 20/6/2019 07:27

Abcam also bid 185 which was rejected last year.. maybe they will have another go..

[kestelmill] 20/6/2019 06:14

Yes Rambutan I agree with your assessment, more Woodforde sales could happen and this could go down a lot further.
I also agree with escapetohome that it is highly rated at current price (under a sane assessment) but market seems to rate it more like 180p since that's where it was after recent results announcement.

[rambutan2] 20/6/2019 02:24

kestelmill, the fund holding them, WEIF, is currently gated and raising cash ready for the flood of redemptions when it is reopened. I think it quite likely that Woodford will have to dispose of the remaining 11.6m as he scrambles to do that. And if he does have any fund left after the redemptions, he has stated that it will be moved into large, liquid div paying stocks, not AIM listed, non div paying bio types.

[escapetohome] 19/6/2019 23:43

Too high for me.

[escapetohome] 19/6/2019 23:43

219 million though mkt cap ( as per header info) does seem bery highly rated.

[seaking1] 19/6/2019 23:08

He doesn’t need to sell everything if he did then there wouldn’t be a fund.

[kestelmill] 19/6/2019 22:28

Yes but if he's still got >11M shares won't he need to get rid of those as well? So won't it continue to drop on that basis. Or does the notification of the disposal signal that the selling is over?

[jurgenklopp] 19/6/2019 20:05

Woodford has cut his holding in HZD down to 7.7%.

A large chunk of that was bought by ValueAct who have upped their holding from 18.3% to 20.9%

Hopefully this means the floor is set around the 140-145p mark.

[escapetohome] 19/6/2019 18:29

How low will this go?

Im not in yet, but on my watchlist!!!!!

[jurgenklopp] 19/6/2019 07:32

Woodford did have around 18 million shares within his fund so around 14 million left.

Someone put him out of his misery !!

Abcam? Softbank? Anyone ......

[rambutan2] 19/6/2019 02:01

Noted, a line of 4m sold at 143p today. No doubt from Woodford. And with lots more to come...