Menzies(john) Share Discussion Threads

[aishah] 17/2/2022 10:25

What's the rush to sell? Wait for the board to respond.

[dougmachin] 17/2/2022 10:24

Lovely paragraph:

Following discussions with a number of Menzies' shareholders, NAS announces that Agility Strategies Holding Limited, an entity under common control with and acting in concert with NAS, has today entered into contracts to purchase 12,133,893 ordinary shares in Menzies, representing approximately 13.2% of the issued share capital of Menzies, at a price of 605 pence per share.

They're kinda committed now!

[kaffee] 17/2/2022 10:21

20 times Shore Capital forecast for current year EPS puts this north of 7.70

Is that reasonable ? Or a bit steep ?

[dr biotech] 17/2/2022 10:20

I’ve just sold down more at 585. Leaves me with about 1/3 of my original holding. It’s above my target price and assuming there is an offer it’ll take a while to go through. Will hold the rest though just to keep some skin in the game.

[mammyoko] 17/2/2022 10:20

NAS will be hoovering up as many as they can get in the market below 605p to get to 25% so they have a blocking stake. Once they have that, going to be difficult for any counter-bidder so will probably get done at 605p unless we see some further interest relatively quickly.

[albert arthur] 17/2/2022 10:17

Sure it'll not go for under £6.50p now. Let the bid war begin!

[dr biotech] 17/2/2022 10:05

I’ll take that.

[mfhmfh] 17/2/2022 10:04

now we need a counter bid

[kaffee] 17/2/2022 10:01

They keep harping on about "premium to price in recent past". Everyone holding is forward looking and by at least a few years I suspect.

Price it at forecasts of performance then.

Market is not convinced of this noise otherwise we would see a spike north of 6 quid on its release.

[queenbreguet] 17/2/2022 09:58

Now we are making some progress !!

[bigbigdave] 17/2/2022 09:58

17 February 2022

Statement Regarding Acquisition of Shares in John Menzies PLC

On 10 February 2022, National Aviation Services ("NAS") confirmed that it had made two proposals to John Menzies PLC ("Menzies").

On 14 February 2022, NAS announced that it had again requested information access and dialogue with Menzies' management, and that it looked forward to engaging with Menzies' shareholders in parallel.

Following discussions with a number of Menzies' shareholders, NAS announces that Agility Strategies Holding Limited, an entity under common control with and acting in concert with NAS, has today entered into contracts to purchase 12,133,893 ordinary shares in Menzies, representing approximately 13.2% of the issued share capital of Menzies, at a price of 605 pence per share.

Consequently, any firm offer for Menzies in accordance with Rule 2.7 of the Code, if made, will be at a price of not less than 605 pence per share.

An offer of 605 pence per Menzies share would, if made, represent a premium of approximately:

-- 109% to Menzies' closing share price of 290 pence per share on 2 February 2022 (the date on which NAS made its second proposal to the Board of Menzies); and

-- 81% to Menzies' closing share price of 335 pence per share on 8 February 2022 (the day before Menzies entered an offer period).

NAS continues to believes that the combination of the two businesses has a strong strategic and financial rationale. Menzies and NAS share highly complementary geographical footprints and product portfolios, with minimal overlap. NAS places importance on Menzies' Scottish heritage, its enviable brand, and its long-standing operational excellence across the globe. A combination with NAS would bring greater geographical diversification to Menzies, forging deeper relationships with the combined customer base.

NAS again requests the Board of Menzies to provide information access and dialogue with management.

Hassan El-Houry, NAS CEO said:

"The acquisition of this significant stake demonstrates our seriousness and belief that a combination of Menzies and NAS offers a compelling opportunity to all stakeholders.

If we were to make an offer at 605 pence per share, it would represent a premium of 109% to Menzies' share price just over two weeks ago.

Once again we urge the Menzies board to engage with us so that we can put our compelling and deliverable offer to shareholders and secure Menzies' future in a highly uncertain environment."

[george stobart] 17/2/2022 09:57

605p bid baby! Thank you NAS we love you

[dr biotech] 17/2/2022 07:44

Thanks Ayl

Your link takes me to the subscription page, but Google news search takes me to the comment. Basically says offer needs to be improved a bit, unlikely counter bid, only defence is valuation (raised bid would seal it). First decent comment I’ve read in the press.

[ayl30] 17/2/2022 03:53

https://on.ft.com/33wdmyY

[hamhamham1] 16/2/2022 16:41

I think if they prepared to offer twice, i think it's likely they (NAS) will put in a third.
If they are serious about gaining market share in the sector, they operate at 50 airports and they got the opportunity to pick up the 200 airports which MNZS operate at.

[hamhamham1] 16/2/2022 16:03

Yep, let's get this done, then can move money elsewhere to get a better return on other cheap stocks, rather than spending another 6 months trying prize out an extra 10-15% on top of 560-600p (The hopeful area for 3rd bid)

[convb] 16/2/2022 15:27

Go back to SIG you troll.

[qsmeily456] 16/2/2022 14:57

🌴🌳🎄🌲8745;💥Ԑ51;🩳🩳;🩳🤣 tick tock watch this drop

[dr biotech] 16/2/2022 11:04

I’m guessing it’s their clients rather than the bank itself. All largely irrelevant though.

Presumably today they’re talking privately to the major holders. 560 would be approx double the pre-bid price and enough for most. Give the execs a board place to placate them, everyone’s happy.

[dougmachin] 16/2/2022 10:51

What I don't get is Form 8.5...??

Ok, so they are reporting positions, but they seem to have about equal buying / selling reported.

[pindakaas] 16/2/2022 10:47

I vote against selling. The bid of Hassan, 510= 76% premium sounds good but is onl 2? + away from Beerenbergs 500 price target. I prefer wait for 2 or 3 years, stick to my investment_plan ; buy a few thousand stocks more ,(if the price stays under 500),next half year and trust the Menzies team that they continue like they did last 2 years. A sure win ,my best investment. I am 2 years buying now... Good luck for all. .

[sundance 13] 16/2/2022 08:54

Let's hope it proves to be a Sterling investment for them :-)