M.p. Evans Share Discussion Threads

[galles] 07/11/2018 15:59

Yes, looks like KL-KEPONG INTERNATIONAL LTD accumulated. Whoever they are

[coolen] 02/11/2018 22:43

It all happened at 3.10pm.
1.1 m were crossed at 687.25/687.5p in what looks like a pre-arranged deal.
A further 0.9m traded at a similar price at the same time.
A series of corrections went through which would have boosted the recorded trades.
My guess is an institutional seller with KLK buying.
Anglo Eastern were talking about lower palm oil prices this week and there has been weakness in the REA Pref. Perhaps a combination which has unnerved a fund manager ?

[galles] 02/11/2018 16:19

Huge volume today. Wonder what happened

[coolen] 13/9/2018 22:30

Forensic, good spot !
Yes, 11,000 crossed in the closing auction @ 800p.
That's despite them being offered freely at 770p all afternoon. Most odd.

[rfcg1] 16/8/2018 12:47

Another modest purchase by KL Kepong yesterday ... holding now just over 15%.

[prettygreen] 31/5/2018 17:19

Aberdeen reducing and KL Kepong back in for a few more...bid coming ?

[felix99] 30/1/2018 08:39

any idea what expectations were? not a lot of commentary it has to be said - on prices etc

[cwa1] 30/1/2018 07:39

017 crop and production

The Group is pleased to announce the following crop and production information for the year ended 31 December 2017:


2017 Increase 2016
Tonnes % Tonnes
Crop of fresh fruit
bunches (f.f.b.)
Own crop 434,500 9 399,300
Smallholder crop 101,300 10 92,400
Outside crop 118,300 128 52,000
-------- --------- --------
654,100 20 543,700
======== ========= ========

Production*
Crude palm oil ("CPO") 154,000 23 125,600
Palm kernels ("PK") 33,500 28 26,200
======== ========= ========

*- figures have been updated from 2016 to include production from the Group's Simpang Kiri estate.

[psmith1110] 25/8/2017 21:50

KLK where are you ?

[galeforce1] 06/6/2017 11:07

Looks like a very tight market for MPE shares at the moment. It's very difficult to buy even in small quantities.

AS book value here is something like £11.00 It's not impossible that KLKB will come back in late June (when the 6-month lock-out expires) and make a higher offer.

[exbroker] 03/2/2017 14:13

The Fidelity letter of intent was for the bid at 640 they did not join in the one at 740. It looks like the company is buying in small amounts of shares and that what has moved the price up. KLK don’t look like they are going to pay more than 715 yet.

[ed 123] 03/2/2017 13:59

Ta, Exbroker. :-)

I didn't know Fidelity had voted that way. They had orignally been one of those who stated an intention to vote against the offer. It was non-binding, though.

I see someone has been buying today at 730p. Maybe we'll get another KLK holding announcement soon?

[exbroker] 03/2/2017 13:20

Hi Ed123
Most of the acceptance came from Fidelity who have sold the stock at 715 so your numbers are a touch light!

[ed 123] 03/2/2017 10:46

I like your optimism, roidster1.

My view, fwiw ........

Market accumulation is very slow now for KLK. Needs another major holder to fold, imo.

KLK bought 11% for around 715p. Those who voted to accept 740p (if they still hold) would presumably accept the same again. That would take KLK potentially up to around 24% at <750p. On that basis 775-800p might do it?

Can KLK get one more significant holder on board at <800p?

[roidster1] 03/2/2017 06:39

Klk have bought 600000 and 5 million plus in last week or so. They now have 11.3%.
Klk have just been upgraded to a buy in the star. I would imagine that with the companies share buybacks we will see near 8£ a share. I expect Klk to offer 9-10 to the board within a few months which no doubt will be accepted. Especially if they (klk) buy close to 30%. I wouldn't see acceptances for less than 850-9. 9-10 yes....keep your hats on it could be fun. Also the pound gas appreciated some 4% which equates to 27p ish per share. So the stronger the pound the more expensive it will be to buy...id expect them to want to do it as quickly as possible. GLA holders

[exbroker] 26/1/2017 17:49

If you are KLKB then you either want to own all the shares in MPE or none. They are building up a position to give them a better negotiating position. Looks like they bought up to 600k odd today. HSBC have been doing the volume.

[ed 123] 26/1/2017 14:13

Yes, interesting, Pineapple1. Potential clash of rules as far as I understand it. If KLK were to exceed 30% then normally there would be a mandatory bid but in a 'no bid' period till 6 months elapsed.

If some of the other institutional holders get onto the Board there may be an agreed bid. I wouldn't be surprised if this happened.

[ed 123] 26/1/2017 14:08

Ta, Exbroker. :-)

I had wondered about the trades at 715p. So, for sellers, best to contact KLK's agent.

6 months, not long to wait. Volume looking better today.

I don't think KLK bought any shares during their bid period, so their highest buy price over the previous 12 months might only be 715p. Possible starting price for the opening takeover bid, second time round?

[pineapple1] 26/1/2017 14:04

Yes a couple of decent sized AT trades today the most recent being 214,000 at 700.
Someone is distributing of course but its a willing buyer.
If it is KLK then they must surely plan to comeback.
I wonder what happens if theyget to the 30% level . Maybe they'll sit just below once finished buying.

[exbroker] 26/1/2017 13:41

Ed123
KLKB are in the market again today at 715, They have to wait 6 months not 12 and can bid now if the board agree the terms.

[ed 123] 25/1/2017 16:40

The buyer was KLK!

I guess KLK will come back 12 months after the lapse and try again.

They're almost certain to get more acceptances the next time, since they start off with their own 9.8%.

They may hoover loosely held shares till 12 month anniversary. Why not? It's possible for them to buy in the market at prices below their takeover offer.

[ed 123] 24/1/2017 10:55

So, there were 13.2% acceptances at 740p and a 9.8% sale at 715p. 23% total at 740p or less.

There may be other holders who, like FIL, having misjudged KLK, would now be softer.

Fwiw, I suspect that an 800p bid could succeed. KLK are excluded from that for now, unless they get an agreement from MPE's board. A fresh party could appear with a hostile bid, however.

[ed 123] 24/1/2017 10:39

Yes, Typo56, 5,464,284 shares is exactly the size of FIL's holding. It was 9.8% of the issued shares.

Seems FIL took a gamble that KLK would go above the 740p bid ....................... but got that one wrong. Accepting 715p now is a damage limitation exercise by FIL.

Maybe that 9.8% can be committed to a fresh bid (obviously above 715p)?

Yes, who bought will be very interesting. We'll find out soon.