Inmarsat Share Discussion Threads

[camila38] 08/1/2020 12:21

marinetracker.serveirc.com/

[shaker44] 12/12/2019 23:57

I think it is due on 18-19/12. I jumped the gun when they were set to zero in my portfolio list.

[sao1] 12/12/2019 16:23

Not yet. Still waiting.

[shaker44] 09/12/2019 10:38

Now ISAT is delisted anyone got proceeds yet? Iweb tend to be very slow and like to sit on the cash.

[zcaprd7] 01/12/2019 01:40

I'm not the only one it seems...

[steeplejack] 30/10/2019 10:31

So farewell.Happily,i feel the company's prospects are bigger than the self serving ambitions of the management.

[wad collector] 14/10/2019 13:48

This one is taking a long time to die...

[nestoframpers] 19/9/2019 18:21

Many shorts being reduced today , will this herald a turn around ?

[zcaprd7] 30/8/2019 11:31

That is annoying, I predicted ligado would get sorted way back when, and got slagged off on here...

[robsy2] 30/8/2019 10:57

Bad luck. I only kept some of mine because i wanted to hold more cash and saw it as a usd deposit.

[steeplejack] 30/8/2019 08:50

This perhaps?



It would be the final irritation....I sold them some weeks back.

[bunce1] 30/8/2019 08:45

Have read that there is speculation that the Ligado situation could be resolved positively in the coming weeks and may lead to an improvement in the offer terms

[wad collector] 30/8/2019 08:36

USD/Sterling now 0.82 so $7.09 now equates to 581.4p
So there is still a 20p premium as share price 602p now.
There was not planned to be another dividend , so the 20p a mystery to me.

[robsy2] 29/8/2019 17:26

usd strength?

[mastermatto] 29/8/2019 15:52

Chaps - why do you think the price is now heading higher above the takeover price?

[wad collector] 06/8/2019 08:37

PFI takeovers also appeal to the management as they don't have to justify their actions to diverse and critical shareholders, just to a bunch of city suits.

[steeplejack] 04/8/2019 08:37

I see that Cobham makes the Sundays with the family objecting to the opportunistic bid by private capital outfit Advent.Hopefully,this will open up a debate about what’s going on.Admittedly,Inmarsat didn’t call repeatedly on shareholders to provide emergency funding.However,ISAT did display a facile misunderstanding of its cash flow requirements as it struggled to balance competitive pressures in shipping whist trying to develop flight broadband.It was forced to do a volte face with an overly generous dividend policy which(along with over generous remuneration packages)contributed in part to a depressed share price that left it vulnerable to an opportunist bid approach.I find it extraordinary that institutional shareholders voted in favour of the bid for Inmarsat at this knock down price.

As Bloomberg commented back in March,”Private equity offers can be appealing to managers of target companies as they can include financial incentives and give executives the opportunity to keep running the company”.

Apax treated an undeserving ISAT management to windfalls when it floated the company in 2005 and has probably promised further treats after the planned delisting which will occur 15 years later.ISATs 15 year operational performance during the listing period has been mediocre at best but management have been handsomely rewarded from the outset.Beggars belief.

16 July FT ... “Competition watchdog to probe $6bn Inmarsat private buyout”
Bit late methinks but who knows.

[robsy2] 02/8/2019 06:03

good post Steeplejack.
R2

[steeplejack] 26/7/2019 16:35

I see Cobham,like Inmarsat,has now joined the ranks of those companies keen to go private.What irks me is that such a move eliminates the possibility of existing shareholders enjoying any potential recovery in fortunes.Meanwhile,the management (at least in part) responsible for failing to successfulyl handle the storm continue their existence under the not so public eyes of private capital.This is despite calling on shareholders to provide emergency backing at times of crisis.It’s the self same management that have overtly let shareholders down that then negotiate the terms to exit their stock exchange listing.I’m sure they look after themselves when deciding whether to provide their recommendation to accept the private capital offer.Private capital can be tough task masters of course and i hope that proves the case for Inmarsat's management.Perhaps the Cobham move will be scuppered by justifiable concern.Too late now to stop the loss of Inmarsat to private capital.Inmarsat,a company who had a nasty habit of falling out with its institutional investors because of its over generous remuneration packages.Will they convince private backers of their worthiness?

[hairballradical] 27/6/2019 14:35

Not 3 more months of useless RNss please!

[wad collector] 24/6/2019 12:24

Settling case with Rignet to tune of $50M sounds good. But irrelevant to us...
Sold my last holding at 542 today ...

[wad collector] 07/6/2019 08:33

Last month there was an announcement , and these tend to get buried in the hundreds of RNSs related to holdings. This seems to make it clear that there is no going back, as majority approval has been gained and the $7.09 will be paid some time in Q4. There have been cases of takeovers failing after this , from Government intervention (Inmarsat was originally a public funded company created by the UN ) , or from financial collapse of the buyer.
However the chances of this happening are probably not the reason for the share price fluctuation of a few pence ; more likely it is just the Forex variability and the interest lost on the delayed payment.
The original $7.21 offer included the 12 cent dividend paid last month, so we are left with 7.09 which at 0.79 USD/GBP current value is 560p. Current share price 541p so we are looking at a 3.3% loss for selling now (and broker fees) rather than waiting for the closure.
I have just decided to sell most of my holding rather than sit on that small gain. That puts me down 23% on my average buying price and ,like most small holders, I look at the management with contempt as they trouser their rewards over this deal for their previously more valuable company.






The majority of Inmarsat’s shareholders voted May 10 in favor of a $3.3 billion


acquisition offer by a consortium of buyers.

Some 77 percent of London-based Inmarsat’s shareholders voted in favor of the takeover proposed by private equity firms Apax and Warburg Pincus and Canadian pension firms CPPIB and OTPP. Those shareholders held 79 percent of Inmarsat’s shares, meeting what Inmarsat called the “requisite majorities.”

Inmarsat expects the deal to close in the fourth quarter of 2019.

[robsy2] 05/6/2019 05:15

So if we hold here we get paid out on usd sometime in Q4 this year. Maybe a rival bid comes through? If not we have a usd deposit which could be a hedge against a weak pound.
R2