Mears Share Discussion Threads

[saltaire111] 06/11/2020 16:06

I thought this was a bargain, yielding 6%, at £3.10 a share.

How wrong could I get!

Nice to welcome back a few GBP I’d lost on this one.

Salty

[sphere25] 06/11/2020 12:50

Thank you EssentialInvestor.

Nice when we can all nail one. Market doesn't give them so easy - plenty of non-starters too!

Nature of the trading arena :-)

[essentialinvestor] 06/11/2020 12:25

Sphere, very nicely traded!, well done.

[abarclay] 06/11/2020 10:54

there was no leak yeaterday

[skinny] 06/11/2020 08:56

I haven't held these since the early 2000s - well done to anyone who was privy to the info!

[sphere25] 06/11/2020 08:50

Thank you ScepticalInvestor.

30% move higher today. Well done if you caught this move. I'm always a seller into spikes like this being short term orientated.

Have to be happy to catch a move like that but it also shows the ugly side of the market. I highly doubt any action will be taken against those buying big yesterday and recents days.

Nonetheless, onto the next one and who will next catch a bid or some corporate activity? The amount of activity recently has been amazing, almost every day you have a bid or acquisition of some sort.

Last night into the closing auction RSA, today SPO, UANC and PFD

[abarclay] 06/11/2020 08:09

mmm in auction

[scepticalinvestor] 06/11/2020 07:56

Well done sphere

[abarclay] 06/11/2020 07:55

MER

markrt cap £130m, just sold non core bit for £72m!!!!!

[abarclay] 06/11/2020 07:46

WOW


· The Buyer will acquire the entire issued share capital of TerraQuest for a maximum valuation of £72.0m1. The consideration is as follows:

o minimum cash proceeds are expected to be £61.8 million2;

o up to a further £5.0 million in cash, payable subject to the performance of TerraQuest in the financial year to 31 December 2021; and

o £3.2 million in interest bearing loan notes3 together with ordinary shares equating to a 6.2 per cent. of the share capital of the Buyer's holding company, providing the potential for further value to Shareholders.

· Following the Disposal Mears will:

o be solely focused on its core proposition as a trusted provider of specialist housing solutions to central and local government; and

o have a significantly strengthened balance sheet, where unaudited pro forma net debt as at 30 June 2020 would have been £10.8 million4 (actual net debt 30 June 2020: £62.4 million).

· Mears has built a significant asset through the TerraQuest business since 2009, including the contract to re-develop and operate the National Planning Portal - a web-based platform which processes c.90% of all planning applications in England & Wales. In the financial year ended 31 December 2019, the TerraQuest Group generated revenues of £20.9 million and a profit before tax of £4.9 million.

· Trading across the Continuing Group in the period since 30 June 2020 has been in line with the Board's expectations. The Board keeps under close review the changing COVID-19 backdrop. Mears continues to benefit from the supportive financial arrangements agreed with clients through the first half of this year. Given this, and the relative proximity of the year end, the Board expects that the recently implemented England-wide lockdown restrictions and the restrictions in Scotland will not have a materially adverse impact on performance in 2020. The Group intends to make a scheduled Q4 trading update in due course.

· The Group also announces that to support the Class 1 working capital exercise it has undertaken in conjunction with the Disposal, and in recognition of the impact of Covid-19, it has entered into an amendment of its Revolving Credit Facility to provide materially greater covenant headroom as at 31 December 2020 and 30 June 2021 .

· The Disposal is conditional upon the approval of Mears Shareholders and the consent of TerraQuest's joint venture partner MHCLG; completion of the Disposal is expected to occur in early December 2020.

· The Board believes the Disposal is in the best interests of Shareholders as a whole a nd will be unanimously recommending in the circular to Shareholders that they vote in favour of the Disposal.






200p today?

[sphere25] 06/11/2020 07:43

Well, there we go. Talk about suspicious trades and price action. Clearly folk knew about this sale and the positive impact on the financial strength of the company.Also note:"the Board expects that the recently implemented England-wide lockdown restrictions and the restrictions in Scotland will not have a materially adverse impact on performance in 2020. The Group intends to make a scheduled Q4 trading update in due course. "

[saltaire111] 05/11/2020 17:05

Perhaps people are starting to recognise that the company is desperately undervalued in the market.

[sphere25] 05/11/2020 16:07

Decided to take a few because the trades recently and buying behaviour today here are irregular. It is like someone is very keen to buy here and they're just launching sizable bids onto the book. Never see that with MER.

No idea if it means something significant, rarely catch a bid because short term trade orientated. Nonetheless it is breaking out on heavy buying so interested to see if it follows through tomorrow and next week.

[abarclay] 05/11/2020 15:12

Have bought
I’d like a bid in mornjng

[abarclay] 05/11/2020 14:00

Why it flying,

[saltaire111] 05/11/2020 13:58

There’s life in the old dog yet!

[sphere25] 05/11/2020 13:18

Alot more interest in this one recently. Looks like sellers cleared at that 110 mark and price threatening a breakout.

A real lumpy one though, not the easiest one to read.

[lucy123] 11/9/2020 16:48

These shares follow the same pattern every day, mostly open about 5% down every day they stay that way all day and at close they seem to finish near the previous day close. The MM's are dubious b+×÷=rds.

[saltaire111] 05/8/2020 11:56

Desperate performance here. Investing in MER is now my biggest mistake - accounting for 3% of my equity investments, it is now down to little over 1%!

While I’m not tempted to increase exposure, I’m going to hold on to what’s left of my investment rather than sell out at a substantial loss. I may end up with an even more substantial loss as a result but I remain optimistic that it will recover.

Salty.

[davwal] 29/6/2020 11:45

Mears must benefit from the increased infrastructure repair and maintenance budget, so odds on the share price will recover to a reasonable level. Looking forward to the market catching on.

[sphere25] 17/6/2020 13:41

Stand out exchanges here. Been watching this one for a while - chart looks interesting. It's still a tricky one to trade because of the horrible spread and lumpy moves. Sellers in size at key 170 resistance at the moment. Nonetheless, another to keep an eye on if there is more significant activity on the book.

[skinny] 05/5/2020 09:28

Earlier :- .

And

.