Kcom Share Discussion Threads

[cityconindex] 24/4/2019 15:03

Counter Bid? ???

[skinny] 24/4/2019 14:59

Summary

· The boards of Bidco and KCOM are pleased to announce that they have reached agreement on the terms of a recommended cash acquisition by Bidco, a wholly-owned indirect subsidiary of USSL, of the entire issued and to be issued ordinary share capital of KCOM (the Acquisition). It is intended that the Acquisition will be implemented by means of a scheme of arrangement under Part 26 of the Companies Act (the Scheme).

· Under the terms of the Acquisition, KCOM Shareholders will be entitled to receive:

for each KCOM Share 97 pence in cash (the Acquisition Price)

· The Acquisition Price represents an attractive premium of approximately:

· 33.8 per cent. to the Closing Price of 72.5 pence for each KCOM Share on the Last Practicable Date;

· 36.1 per cent. to the volume-weighted average price of 71.2 pence for each KCOM Share for the one month period prior to the Last Practicable Date; and

· 38.0 per cent. to the volume-weighted average price of 70.3 pence for each KCOM Share for the three month period prior to the Last Practicable Date.

· The Acquisition values the entire issued and to be issued ordinary share capital of KCOM at approximately £504 million.

· If any dividend or other distribution is authorised, declared, made or paid in respect of KCOM Shares on or after the date of this Announcement, Bidco reserves the right to reduce the Acquisition Price by an amount up to the amount of such dividend or other distribution for each KCOM Share, in which case eligible KCOM Shareholders will be entitled to receive and retain such dividend or other distribution.

KCOM recommendation

· The KCOM Directors, who have been so advised by Rothschild & Co as to the financial terms of the Acquisition, consider the terms of the Acquisition to be fair and reasonable. In providing its advice to the KCOM Directors, Rothschild & Co has taken into account the commercial assessments of the KCOM Directors. Rothschild & Co is providing independent financial advice to the KCOM Directors for the purposes of Rule 3 of the Takeover Code.

· Accordingly, the KCOM Directors intend to recommend unanimously that KCOM Shareholders vote in favour of the Scheme at the Court Meeting, and in favour of the General Meeting Resolution to be proposed at the General Meeting, as the KCOM Directors who are interested in KCOM Shares have irrevocably undertaken to do in respect of their own beneficial holdings of 317,016 KCOM Shares representing, in aggregate, approximately 0.06 per cent. of KCOM's issued ordinary share capital on the Last Practicable Date.

[skinny] 09/4/2019 09:21

09 Apr 2019 Peel Hunt Buy 71.14 127.00 Reiterates

[tewkesbury] 25/3/2019 20:04

bori5 good point about Toop. Small telecoms provider with 150x growth potential.

Toop customer numbers growing rapidly.

Toop share price 0.29p, target price 50p or 150x bagger.

Toop a BUY.


22/3/2019 - (14 min 20 sec onward) -

18/12/2018 -

12/2/2019 - TOOP - Investment of the Year? (5 min 10 sec) -

[leadersoffice] 11/2/2019 08:16

That should read One pound +

[leadersoffice] 11/2/2019 08:16

Would have to be offers north of £1.10 to succeed in my opinion. Been in these for years and until recently, a good income share. Been in since the 50's

[dealit] 10/2/2019 10:01

OK `johnyee` interesting, directors buying also at the end of January,

[johnyee 7] 10/2/2019 09:26

Fake,I doubt it.

[dealit] 10/2/2019 09:21

Twitter news fake I would feel

[optrade] 09/2/2019 21:06

Virgin Media considering takeover of Hull’s KCOM

[dealit] 30/1/2019 17:54

Nice to see-----The Company announces that Graham Sutherland, CEO of the Company, yesterday notified the Company that he purchased a total of 45,000 Ordinary Shares of 10p each in the Company at a price of 70.3 pence per Ordinary Share and 45,000 Ordinary Shares of 10p each in the Company at a price of 70.0 pence per Ordinary Share ("Ordinary Shares"). Further details of this purchase are disclosed in the tables below.
Following this notification, Graham Sutherland has a beneficial holding of 250,000 Ordinary Shares (which represents 0.04% of the issued share capital of the Company)

[skinny] 27/11/2018 07:05

KCOM Group PLC (KCOM.L) announces its unaudited interim results for the six months ended 30 September 2018.

Summary

· Group revenue1 declined by 5%

· Group EBITDA1 up by 2%

· Hull & East Yorkshire continues to perform well and in line with market expectations

― Full-fibre deployment remains on target to be available to 100% of addressable market by March 2019

― Percentage of broadband customers taking full-fibre continues to increase

· Poor performance in national business segments driven by:

― Revenue decline in NNS, due to continuing churn

― Broadly flat revenue in Enterprise reflecting disappointing order intake performance

· NNS performance results in non-cash exceptional impairment of goodwill of £32.2 million

· Increase in net debt to £108.5 million (1.6x net debt: EBITDA), driven by:

― Capital investment in Hull & East Yorkshire segment

― Material working capital outflow, due to insourcing a managed service arrangement and unwind of deferred revenue balances in Enterprise

· Interim dividend of 1.00p (2017: 2.00p), reflecting Board's previously announced decision to revise full year dividend commitment to a minimum of 3.00p per share

Graham Sutherland, Chief Executive Officer said, "Despite only joining the business last month, I believe KCOM has considerable skills, assets and capabilities. The full fibre rollout in Hull and East Yorkshire leads the market, provides us with sustainable cash flows and enables the further development of our service offering. However, the current financial performance of our two national businesses is below our expectations, in particular, in National Network Services where we are experiencing high levels of customer churn. In the second half of the year, we will focus on three key priorities - review of our business strategy to identify how we create the best value from KCOM's assets, implementing initiatives to improve business performance and improving transparency through clear metrics on which our progress can be measured. We will be in a position to share outputs from the strategic review in March."


Outlook

The strong performance in Hull & East Yorkshire is expected to continue during the second half of the year, supported in part by the launch in early December of a new unlimited fibre broadband portfolio for consumer customers.

While we have started to take action to address some of the issues in our national segments, we anticipate that the trading performance in Enterprise and National Network Services will remain challenging during the second half of the year and that this will continue into next year. As a business, we are seeking to address these medium-term challenges by reducing cost and complexity at the same time as identifying those opportunities to deliver value from KCOM's assets. The Board believes that the Group has the potential to execute well on those opportunities.

The Board previously announced its intention to recommend a minimum full year dividend of 3.00p per share for the current year.


more.....

[nigthepig] 23/11/2018 13:08

dealit - Can't imagine anyone would want to buy this lot.

[dealit] 23/11/2018 10:41

We can only hope that the share price at these levels will attract a buyer takeover.

[grahamite2] 20/11/2018 14:24

Yeah. The broker forecasts have seemed very strange for a long time.

[skinny] 20/11/2018 14:21

I'll have what they're on!


20 Nov 2018 Peel Hunt Buy 65.75 150.00 127.00 reiterates

[pal44] 20/11/2018 11:32

let see what this closes at tonight .. GLA

[septimus quaid] 20/11/2018 10:27

I'm always amazed, for an entity that is supposed to be forward looking and anticipatory, how the stockmarket reacts so violently to this kind of fairly predictable news.

TALK provided a clear blueprint for KCOM's future dividend cut (their shareprice also suffered a violent reaction to the announcement of a dividend cut that had been widely anticipated).

Maybe trade-bots cause exaggerated reactions as stop-losses are triggered?

Surely it's better to cut the dividend than run the company into oblivion?

Everything seems to be on a hair trigger at the moment.

[grahamite2] 20/11/2018 09:43

I always considered Kcom a safe if boring stock

C'mon, warranty! Haven't you been reading this thread? The potential for something exactly like this has been discussed for months if not years.

I got done over on Carrillion and Debenhams, also chasing high dividends, so there's no gloating on my part, none at all. I'm just saying this shouldn't have come as a bolt from the blue for anyone.

[warranty] 20/11/2018 09:29

Wow, that's some drop and not even a hint from management of the problems accumulating. I always considered Kcom a safe if boring stock with a decent dividend but how wrong was I. Heads have to roll after this.