Inspired Cap Share Discussion Threads

[technofiend] 19/6/2015 10:42

I'm guessing the CEO and other directors left prior to the bid being publicly announced because they were opposed to selling?

Anyway, I'm thinking of buying into Non-Standard Finance with funds released from this takeover.

Anyone have an opinion on NSF?

Thanks.

[quepassa] 19/6/2015 08:55

fully agree on your last point.
wonder whether the regulators will have noticed that too.

i still don't comprehend why there wasn't an rns earlier this year when the prelim approach happened.

all imo. dyor.
qp

[shaka198] 19/6/2015 08:27

Agree, all a bit odd. The CEO purchase just before approach also strange.

[quepassa] 19/6/2015 08:12

It's hardly like the Board made a rapid next day announcement that the offer significantly undervalues the Company.

The offer came through on Monday 15th. Today is Friday 19th.

They are not chomping at the bit to say no. Nor that they want more money.

Pretty weird if you ask me that there has practically been radio-silence from INSC for the best part of a working week since the initial approach

ALL IMO. DYOR.
QP

[shaka198] 16/6/2015 22:27

Has the Board made any comment yet?

[dendria] 16/6/2015 19:19

Quite a lengthy write-up by Simon Thompson (IC) today.

Can't post it all but ends up with 'In the circumstances, I would sit tight for now to see whether Inspired Capital's institutional shareholders can eke out some more cash. You have nothing to lose.'

[oregano] 16/6/2015 10:47

guestimate. they would take 20p, but will try and get a bump for forcing a recommendation from management.

[pinkcopernicus] 16/6/2015 10:22

Any reason for 22p? or guesstimate?

[oregano] 16/6/2015 10:17

My guess would be that Henderson, who came into this via Renovo, will be interested in taking cash out. You don't often get liquidity events in small caps. Otherwise they will be in here for some time, and need to inject fresh capital into something without a management team.

So they will want out, but will ask for 22p.

[technofiend] 16/6/2015 10:14

Thanks,

I own OneSavings Bank also. This has had a good run and I think has legs to go further. It is still undervalued next to its peers

[ryry0707] 16/6/2015 09:21

SHAW and ALD are worth a look. Both done well since recent IPOs.

[technofiend] 16/6/2015 04:54

If this sale goes through I would like to buy another small-cap lender.

Anyone got any ideas? Who are the best comparable firms in INSC's sector?

Thanks.

[alimo] 16/6/2015 01:12

Didn't Henderson buy most of their holding at considerably more than 20p? Need to go back into the history of Renovo.(RNVO). I'm surprised they haven't demanded to know what happened to all the Renovo IP that seems to have been abandoned as having NO value - or only pocket money ......eh?

My gut feeling is that INSC is worth much more and Bentley know this too. Expect to hear more when others wake up to this action within a fast growing new industry. Market share helps to establish confidence and backers.

[pinkcopernicus] 15/6/2015 17:42

p1nkfish, thank you.
nice colour btw ;-)

[p1nkfish] 15/6/2015 17:25

Well if it goes at 20p and no alternative is it worth waiting or sell now as close to 20p as you can? That is going through my mind now. Market may throw up before end of 2015 and some bargains come along - currently nothing strikes me but have been selling down various to liberate cash and INSC proceeds in cash can help.

It might flush out an alternative offer but not holding my breath. Will Bentley get what they want?

If they don't will it relax back towards < 17p or stay higher?

If I don't sell and the buy doesn't proceed I will park them for a few years in my own bottom drawer. That was my original intention to see how they develop with their PHD involvement.

[pinkcopernicus] 15/6/2015 17:03

I won't turn down 20p either. I have about 80k shares at an average of 17.42p, and given the recent and inexplicable changes in the BoD I was thinking to either sell at a loss this summer or put those shares in the bottom drawer. So in a way i welcome today's news with a smile :-)
Any idea about the timing, if it does go through? And, do I have to express my vote? or is it irrelevant given the small amount of shares I own.
Thank you in advance.

[p1nkfish] 15/6/2015 15:19

If the Proactis tie-up for SME's is really intended to work to the advantage of all, and Henderson own a decent %, then I would like to see both INSC and PHD tied-up by a single entity.

PHD are a bargain.

20p suits me. I starting buying because of the PHD news and own a nice bundle and 20p in short order is OK with me. Price is lower than it's worth but cash in the hand is OK right now. Can find a good home for it.

[quepassa] 15/6/2015 14:50

agree with all of the above.

with no permanent top management in place, I think I know what Hendersons may or may not be inclined to do. my guess is they would take the money and run - for all I know they have already been informally sounded out by Bentley.

I knew there was something going on for such a rapid and unexpected set of senior departures to have taken place.

the real question is why the recently departed management didn't bother to hang around to fight any potential take-over after the initial approach.

Therein perhaps may or may not lie a likely clue as to the outcome in my view.


all imo.dyor.
qp

[funkmasterp12] 15/6/2015 14:42

So the interim CEO bought 500k shares the day before they had the first approach re a takeover?What timing!

[oregano] 15/6/2015 14:32

INSC will clearly have to put out a response. It is amazing they did not mention a formal approach, makes them look bad, and possibly in breach of their duties.

it all hangs on what Hendersons want to do. they own 27% and can push management around.

[quepassa] 15/6/2015 14:30

no, I meant, they walked because they may or may not have got a whiff of changes afoot.

it's one thing building up a publicly quoted company with options on shares for management, it's another thing working for a private company.

Bentley approached the Board in May for a possible agreed takeover of the Company and the Board pretty much said no to unconditional due dilgence.

Anyone recall seeing an RNS that Inspired had received a prelim approach???

if my quick reading of the announcement is correct, it is not a recommended offer - so still a chance that things can move. But INSC are hardly in a very strong position with the recent top management departures.

Where's the response from INSC and the acting CEO to the Bentley approach today?

all imo. dyor.
qp

[shaka198] 15/6/2015 14:11

Says 90% above?

[dendria] 15/6/2015 14:09

Too cheap in my view - but I won't turn down 20p.

[oregano] 15/6/2015 14:08

it is a slightly odd one. the offer is conditional upon them getting 75% which is a high hurdle, especially given all the PIs in here.

if the old management walked to go to Bentley Park surely they would be a related party and mentioned in the release. in fact they appear to have left before INSC was approached.