Instem Share Discussion Threads

[londonmetro] 26/5/2005 08:48

nice to see the top five risres for a change all making A's wtv is the sort of share that imho will slowly tick up ,, all buys this morning worth a punt ...

[one for the money] 26/5/2005 08:41

Blackbear

Yes, it was putting out good dividends and had a lot of potential after a period in the doldrums.

If they've got 58% promised already it will happen. Will the takeover panel have anything to say about it?

Still, on the bright side, it will be a nice cash gain to invest elsewhere.

Cheers
John

[blackbear] 26/5/2005 08:35

Well well.... a shame really i liked this company..

all profits going into TRB Guys the market hasnt woken upto this yet.. have a look , results coming soon mkt cap 115m , profits expected 18m +.. i Dont ramp , watch this space. :)

[spooky] 26/5/2005 07:57

Oh happy day :-o)

[oooff] 12/5/2005 08:06

The Motley Fool website in their value investor tipped INS as a buy prior to bid announcement. Has recently advised to take profits than wait for outcome of bid discussions, which probably accounts for some of the selling.
Has an article about it on Fool website at:

[tubigrip] 11/5/2005 10:52

Presumably the sells yesterday and drop in proce suggest soemone may know its off???

[basketbob] 09/5/2005 13:40

It's nearly a month since the board announced that it is in discussions that may or may not lead to an offer for the entire issued share capital of the Company.

Any one heard anything since? Have I missed something?

[happygolucky] 22/4/2005 15:37

Could William de Broe be accumulating for the mystery suitor?? I suspect so, unless prohibited by takeover rules or whatever. If not, maybe more than one vulture is circling?

Nice weather, day off work, INS up 9% - not a bad way to start the weekend!!

HGL

[coxewan] 22/4/2005 15:20

Looks like we have some action at last

[luthier] 20/4/2005 20:56

I would be over the moon with 245p for my few shares! Is this a tax avoidance scheme, or just a missing decimal point!?

[oooff] 20/4/2005 13:18

Re:RNS
Tempted to phone Sarah Jobson and see if they can sell my INS shares for two hundred and fourty five pence each.

[basketbob] 20/4/2005 10:44

RNS Number:2813L
Williams De Broe
20 April 2005

FORM 38.5 (SUMMARY) Lodge with Company Announcements Office and the Panel. Use a
separate form for each class of securities in which dealings have been made.

CONNECTED EXEMPT MARKET-MAKERS: DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON
TAKEOVERS AND MERGERS

Name of EMM: Williams De Broe

Date of disclosure: 20/04/05



Contact name: Sarah Jobson

Telephone number: 0121 335 1243

Please see attached disclosure of dealings under Rule 38.5 in the securities of
the following companies:

Infast Group Plc

If the attached Rule 38.5 disclosure is to amend a previous disclosure, please
state which element(s) of previous disclosure was incorrect:

In the case of option business or dealings in derivatives full details should be
given on a separate sheet so that the nature of the dealings can be fully
understood. For options this should include the number of securities under
option, the exercise period (or in the case of exercise, the exercise date),the
exercise price and any option money paid or received. For derivatives this
should include, at least, the number of reference securities to which they
relate (when relevant), the maturity date (or if applicable the closing out
date) and the reference price. For full details of disclosure requirements see
Rules 8 and 38 of the Code. If in doubt contact the Monitoring Section of the
Panel, Tel No.: 020 76380129

FORM 38.5 CONNECTED EXEMPT MARKET-MAKERS:

DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS

Dealing in Infast Group Plc

Class of security Ords

Date of disclosure: 20 April 2005

Date of dealing: 19 April 2005

Name of EMM Williams de Bro#

Name of offeree/offeror with whom connected: Infast Group Plc

Total number of securities purchased:

Highest price paid*

Lowest price paid*

Total number of securities sold: 100,000

Highest price received* 245p

Lowest price received* 245p

*Currency must be stated


This information is provided by RNS
The company news service from the London Stock Exchange
END

EMMIMMMTMMTTBFA

Would anybody like to give me a clue as to the significance of todays EMM disclosure?
TIA
Bob

[tubigrip] 14/4/2005 14:57

Looks like we are being primed for a low offer - how about May 2004 price - surely sounds reasonable??!!!!

[one for the money] 14/4/2005 10:24

xdavid

Good work - thanks for the input.

Cheers
john

[xdavid] 13/4/2005 21:08

Current stats:

Price: 26p
Shares: 114.34m
Cap: £29.73m

2004 eps: 2.1p for PE: 12.4
2005 (est): 2.8p for PE: 9.3

2004 divi: 1p for yld: 3.8%
2005 (est): 1.1p for yld: 4.2%

PTBV: 1.1
Net Debt: £13.9m

There are 2 estimates in public, one with the 2.8p and I think the other (older) one was about 2.7p. There is no forecast growth for 2006 which I think comes down to increased tax on the otherwise forecast increased turnover, or maybe nobody wants to look that far ahead...

Still good Divi available. Debt is high but management state that it will reduce greatly in 2005.

So what price is fair for a recovering business with high debt and no forecast growth beyond this year? PE 10 for 28p? PE 12 for 33p? Or maybe more if it's an Alchemy managed takeover...?

[xdavid] 13/4/2005 15:51

I'll have to sit down this evening and work out current valuation but I remember doing this a couple of months back and thinking that I really should top up - oh well... I'm sure Fayrewood will bounce back... ;-)

[nurdin] 13/4/2005 15:16

Cant see them going for less than 30p myself :o)

[xdavid] 13/4/2005 13:21

ooohhhh...

"The Board of Infast announces that it is in discussions that may or may not lead to an offer for the entire issued share capital of the Company.

[balcony] 13/4/2005 12:57

xdavid-you may well be correct.

[xdavid] 11/4/2005 15:19

Nice tick today. Presumably got tipped somewhere. Meanwhile my attention has been over at the Fayrewood thread - where John Moulton's Alchemy partner Pierce Casey is making a stir by leaving and selling his remaining shares. You don't think he needs money to pursue Infast... ? Conspiracy stuff! LOL.

[luthier] 10/4/2005 18:09

Rohkap
On 7 April, there were three trades at 19p. Two were cross trades for 2,955,421 and 222,290 (total 3,177,711). There was then the broker to broker trade of 3,177,710. I had assumed the two were linked, but of course a cross trade only has to appear once, which I had forgotten. Thus, the two could be separate trades.
However, given they represent more than 5% of the company, if they are separate, there should be an RNS to say where they have come from!
Very odd!

[rohkap] 09/4/2005 10:29

Recent holding notification statements are a bit odd. Both J Moulton and North Atlantic Value LLP have acquired the same number of shares (give or take one share)

[nurdin] 09/4/2005 07:42

Thanks Luthier...found that out after probing around a bit.

I also noticed that William de Broe have come out with new forecasts both for this and the next year:

05 pretax £3.8m eps 2.8p (+254%) div 1p

06 £4.5m eps 2.8p div 1.1p

On those forecasts INS are trading on a prospective multiple of just 7.5 and yield a healthy 5%.Profits will grow 18% year on year but eps will be flat next year presumably because of higher tax charges.Regardless,a cheap stock which offers prospects of decent returns specially under the umbrella of an ISA.

[xdavid] 09/4/2005 01:43

Good point Rohkap. I had a good read through accounts and although there is not an explicit list of clients, I came to the conclusion that they were well diversified, not only by number of different clients but also internationally.