ISG Share Discussion Threads

[cwa1] 11/1/2016 14:45

Smells like some kind of alternative.....

[ed 123] 11/1/2016 14:39

Ta, Exbroker. :-)

[exbroker] 11/1/2016 14:27

Ed123
Yes 1.00pm was the deadline result later today or Tuesday morning.
I am not sure why there is retail buying at these levels it would be too early to raise the bid unless they have an agreement from the board or there is a counter.

[ed 123] 11/1/2016 12:51

Yes, agree. Who would buy above 143p today, only to get back 143p in a few weeks? The buyers at this level must think they know something.

Also, small holder could exit at 144p atm, but only one sale - 2,000 shares sold.

May get the count result and a statement this afternoon?

[grahamburn] 11/1/2016 12:25

With the share price rising above the offer price today, it's almost certain that the initial bid has failed.

[ed 123] 11/1/2016 11:38

Ta, Exbroker.

So, is today the first closing date for the offer? Result tomorrow?

[exbroker] 11/1/2016 11:23

Its an offer so no vote, just send in or not your acceptance form, will be extended I expect as I dont think they will get many acceptances.

[ed 123] 11/1/2016 07:51

Re:Timetable, is today the closing date for the vote? Result tomorrow? Ta.

[exbroker] 10/1/2016 15:42

kenmill1
They are letters of intent from Octopus and River and Merc and as such allow them to accept 143 if they so wish, the letter has a get out clause so no way is this an irrevocable in any shape or form. It send a message that the price need to be raised, Octopus won’t want a loss on the shares as they seem to be in the IHT private client funds, hence my thoughts that 170 is the price that they will agree to all be it reluctantly. If they want to play hard ball then raise it to 170 and buy enough stock to go over 30% and make it a rule 9.

[qs99] 10/1/2016 14:59

thanks kenmill

[kenmill1] 10/1/2016 12:58

SCSW consider it a cheeky bid and unlikely to go through as there have been some irrevocable objections from some holders - consider it likely to gee-up the management. Suggests await developments

[qs99] 08/1/2016 14:13

not unreasonable thoughts, but what is the average price for Cathexis? Me thinks it is probably quite good (DYOR) and therefore they can IMO afford to up their offer, especially if, as is hinted at in ISG's RNS's IMO, that legacy issues on construction are behind them from Dec 15.....in which case perfect timing for Cathexis but they need to stump up and current institutions and board need to stop them from picking this up on the cheap...again IMO! Let's see but at least £1.43 IMO should have put a floor under the share price ..

[salpara111] 08/1/2016 13:59

As a non holder but interested watcher.
I dont think that the current offer will succeed so there is only one question.
Will Cathexis increase their offer to a level that is acceptable to the big holders, my own feeling is that they wont as I am guessing that the big holders will want something closer to 180 and I dont think they will be willing to pay that.
At present Cathexis will be canvassing those big holders to see what it will take to get them to sell up but I am guessing that the gap between bidder and holders will be too large.

[cwa1] 08/1/2016 10:30

Cheers LGW500, thanks for your thoughts.

[lgw500] 08/1/2016 10:18

Well, CWA1, Majestic was always the favourite for its growth and free cash flow! Probably, the best of the bunch is James Halstead but then that is fully reflected in the share price! Unlike Majestic, it has a good family led management team and just steadily expands. It also produces a product that everyone wants from time to time and there are no health related issues!

[cwa1] 08/1/2016 07:41

Indeed LGW500 re the IHT qualifying bit. Is this an area you dabble in and do you have any favourites to recommend? Apologies for the off topic.

[ed 123] 08/1/2016 07:39

I guess Cathexis want to turn around ISG and then sell it on. If they can move from 29% ownership to >50%, they can control what goes on, ie. manage the recovery rather than be passive, hoping for the best.

Still no defence document, I see. As others have suggested, rather looks like management have made their phone calls and added up holdings. The danger is that Cathexis lose the vote and won't increase the offer. Then, it's back to 120p or lower?

[lgw500] 07/1/2016 23:23

I am sure that Cathexis will have picked up the message from Octopus and Co. that 170p will just about do the trick. Whilst these institutions will be wondering which IHT qualifying AIM stock to put the proceeds, I think they will take 170p and move on. I still wonder why on earth Cathexis wants ISG in the first place, though!

[exbroker] 07/1/2016 16:08

This story has a while to run yet. We know that Octopus and River and Merc won’t accept 143 and institutions never ever declare their hand at the first closing date so expect only a few acceptances. Given the placing at 170 last year I suspect that this is a level more likely to get the holders thinking about selling given the profits warnings since then. I am long of a few at around these levels.

[a2584728] 07/1/2016 11:52

Accept the offer, the management will just go on forever mismanaging and not answering to anyone but each other, bunch of clowns, simple business run by buffoons

[ed 123] 07/1/2016 09:01

Management are off the pace here. All holders through nominee accounts will have made their decision by now, without reading any proper defence from management. There was a blunt statement that the bid undervalued and some other valuation comparison which they had to withdraw.

I don't doubt they are busy on something or other but there are several balls they need to juggle and they took their eye off the nominee holders. Management's lack of a timely defence will have gifted some votes to Cathexis.

[lgw500] 07/1/2016 08:46

Let's hope Lawther & Co. have not been asleep and cancelled their Christmas holidays. The share price suggests that the market considers they have all been on a nice skiing break in Verbier.

[ed 123] 06/1/2016 23:04

Asleep? No, just waiting for the defence from management.

[bouleversee] 06/1/2016 22:50

No; I and other family members have quite enough in ISG already, having paid a heck of a lot more than current s.p.

[lgw500] 06/1/2016 22:38

Is everyone asleep, who follows ISG? 170p trade bid due any day. Is no one averaging down their holding with shares at the current price? AIMHO!!