Itaconix Takeover Rumours (ITX)

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Itaconix Takeover Forum Posts

Last RNS from ITX regarding woodford hTtps:// Holding less than 5% NOT HOLDING LESS THAN 3% Neil Woodford firm counts cost of failed takeover as he exits ... Woodford cut his stake in the £4.8 million AIM-listed polymers company from 19.2% to less than 5%. Itaconix was a small part of the Equity Income Fund, accounting for less than 0.1% Obligation to report threshold crossings In accordance with the London Stock Exchange (LSE) rules, Panel of Takeoverand Mergers board (PTM) rules, an investor who acquires, exceeds or falls below 3%, 4%, 5%, 6%, 7%, 8%, 9%, 10% and each 1% threshold thereafter
Digging through the takeover documentation, there is a reference to their 'production facilities' being leased so it seems likely that this refers to that.They always had this lease, but just didn't show it on the book as an asset. This isn't ITX doing something shady - other companies are having to implement it as well - look at the Arena accounts today for example (luckily not invested there!).
Ewanwhose, thank you for that bit of info, but I wonder how was this unknown 'asset' accounted for before? cyberbub, I agree with your observations and hence will continue to hold and add as things become clearer. Probably like a few others I have been burnt by in the past by up-beat AiM businesses that are all optimism which fails to turn into anything of substance. I believe this one could be near a tipping point, I just want to see more contracts of worthwhile substance and a wider client base. There's also perhaps a chance of a takeover a bit further down the road, if their product becomes the default with the likes of Croda.
Whilst I'm not against a takeover, as I'm only a small investor, I would like a very good price for my shares. I would like 15p plus.Is the possible in your opinion?
cyberbub- I would want a significant discount - Also as more than takeover offer trigger point would not be prepared to take the whole lot unless at a very very significant discount - Even the paid research house predicts losses until 2021 which is too far away to have much credibility - will (imo) need further funding and with Woodford gone who would put up the funds except at a VERY significant discount - Consolidation Query. Year end Dec 31 Current* 2019 2020 2021 Revenue £M 0.7 1.7 3.5 6.5 EBITDA (£m). (4.3) (1.5) (0.6) 1.0 EPS (p) ( 2.8) (0.7) (0.4) 0.2 Net cash/ (debt) £m 2.2 0.7 0.2 0.5
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