Manx Telecom Share Discussion Threads

[zouppy] 22/3/2019 15:37

Another hedge fund buying today. As a minimum I would say the hedgies are trying to get enough of a stake to block (or at least hinder) the current bidder and thereby twist their arm to raise the offer. Probably based on a view they could pay more if needs be. A rival bidder would be even better.

[robin_lemer] 22/3/2019 14:13

Interesting purchase 60000@£2.16 went through earlier today

[chopp1] 21/3/2019 16:53

Sand grove are buying for a reason clearly. Up to 7%. I’ve had a look at the registered offices and they don’t appear to have a link to the bidder. Hope another bid on the way. This current one is derisory. Can’t understamd whytge directors would be recommending it at such a poor price.

[zouppy] 21/3/2019 16:22

Sand Grove still buying. An event driven hedge fund. See no sense in selling until this plays out a bit further.

[zouppy] 19/3/2019 17:57

Interesting activity in the shares. Sand Grove a material buyer at current levels - reached 6.84% today. Not sure how long they have had a shareholding but they were below 5% last Thursday. Unless they are linked to the current bidder then they must think a higher bid will emerge. May not yet be over!

[robsy2] 18/3/2019 13:37

Afternoon all
Lots of rns’s coming in . I can’t make head nor tail of them.
What do they mean?
R2

[mw8156] 16/3/2019 23:23

not a particularly generous offer for a virtually Corbyn-proof utility, even if there is a small amount of turnover in the UK especially if the hearing enhancement company takes off; datacentres part of the business is a bit of a disappointment; seems to me that the Directors are too ready to recommend the deal having been generously paid over the years considering the low tax rates in the IoM. How many changes of ownership has the manx telephone utility gone through in the last 10 years already?

[stevegrass777] 14/3/2019 12:01

Does the note from liberum today indicate arbitrage,buying at 212 selling at 215

[tiswas] 13/3/2019 16:09

Hmm, just had a rethink.

I thought an offeror could not pay more than the offer price for shares. The offer price is 207 but it just so happens holders will also get the dividend declared.

So why are bidco's brokers allowed to pay 215p, give or take, for the shares today?

Can someone who knows about these things please educate me?

Cheers.

[tiswas] 13/3/2019 15:07

Shame, I liked the yield.

13.5m shares traded, I assume the bidder is the only buyer in the market today and looking at the price rise over the last few weeks I am sure that the powers to be knew it was happening. So another bidder unlikely imo but wtfdik!

[merrimac] 13/3/2019 10:07

One institutional has put in their form today: held around 4.5%

[robin_lemer] 13/3/2019 09:39

Possibility of higher bid. Institutional holders own 64% between 8 different institutions. As yet no confirmation of any of these holders accepting bid terms

[ntv] 13/3/2019 09:13

the offer is only 207p really as the 215p includes a dividend so it is a poor offer imho

[stevegrass777] 13/3/2019 09:06

Lol A takeover bid and your all moaning.
Although this was a nice secure high dividend and there aren't many of those about.
As said above tere could be a counter offer.

[ntv] 13/3/2019 08:37

some of our high yielding stocks
include
SPSY
AAZ
GRP
DUKE
RTC
RFX
PHSC for a bit of a gamble
bit like the rest really!!
excluding property co's

[merrimac] 13/3/2019 08:13

No not compelling to us but I quote: "The Manx Directors, who have been so advised by Oakley Advisory as to the financial terms of the Acquisition, unanimously consider the terms of the Acquisition to be fair and reasonable."

[yf23_1] 13/3/2019 08:10

11% bid premium, not exactly compelling is it ?

[mushypeas] 13/3/2019 07:48

Will 207p be the knock out blow required to obtain 75% support at the vote?

[merrimac] 13/3/2019 07:36

Anyone know what date the "sanction date" is?

[merrimac] 13/3/2019 07:34

I am going to put it into a Vanguard global index fund paying a good dividend.....try CAML if you want an alternative high paying AIM share - quite different though.

[abbett1] 13/3/2019 07:27

Looks like we won't get to see audacious in action.