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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Menzies(john) Plc | MNZS | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 607.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 607.00 | 607.00 |
| Top Posts |
|---|
Posted at 20/2/2022 13:52 by sikhthetech I think NAS will continue buying up to 605p and hope they can get more investors on board. If they increase their offer it could be to 620p-650p.The risk is that if they walk away then the share price will fall back plus they are likely to sell their holding, therefore putting more pressure on the share price Currently I see these as lower risk than a lot of other companies, which could get hammered with interest rate rises and Russia/Ukraine situation. The next 2 weeks should be the decider either way. |
Posted at 19/2/2022 11:26 by convb Its a hostile takeover attempt!!!!!NAS are trying to buy 51% of company after offering 460p. They are an operator not an investor!!!!!!!!!!! They absolutely do not want to sit as a minor share of around 19% for the next few years, it will be against every financial covenant they have. They have not secured the 51%, no way. This is going to kick off big time. They will be calling up al the Major holders begging for their shares at 605p. What would you do? Sell at 605p or hold them ransom!!! This is 100% going above 700p...it will move up to 700p in a single session before March 9th. |
Posted at 19/2/2022 09:58 by buffettjnr What’s the maximum they could offer knowing that the smartest investors in Menzies have agreed to sell at 605p? 620 perhaps?The downside is like 30-40% and the upside is 3%. I call it stupid to continue holding it. |
Posted at 14/2/2022 07:45 by mammyoko Forecast EBITDA to 31/3/2022 is £68m. Forecast net debt is £200m. Shares in issue = 85m. Multiple @ 510p = (85 x 5.1 + 200)/ 68 = 9.3.The question is whether it is appropriate to apply a multiple to historic EBITDA in an environment where historic earnings have been suppressed and investors can reasonably expect EBITDA to increase significantly as their markets open up. That is the argument around an opportunistic time to launch a bid. NAS are suggesting that business is going to be tough in future. As an investor, you have to decide whether that is likely. Clearly, it's in NAS's interests to suggest this. The MNZS BoD are suggesting that an EBITDA figure of £101.7m is achievable. Of course, that is also designed to suit the BoD's position. As investors, we have to decide whether EBITDA will remain the same or increase in an environment where the company's markets are reopening. I prefer to believe the latter is more likely and so using what is soon to be historic EBITDA undervalues the company. There is also the question of whether 9.3x or 9.5x EBITDA is an acceptable multiple for a business that has a much larger share of the market than NAS. I would suggest that a multiple of at least 10x EBITDA is more appropriate. References to debt are irrelevant as debt is taken into account in the EV/EBITDA calculations above. |
Posted at 12/2/2022 18:42 by hamhamham1 The Times said:The bidder has until March 9 to make a firm offer or walk away, but there has yet to be any groundswell of support from the Menzies shareholder base. Mithaq, the largest investor in Menzies with a 6.63 per cent holding, said it fully endorsed the board’s decision to reject the proposal. Sterling Active Fund, which has the second biggest stake with 6.6 per cent, and SVM Asset Management, the Edinburgh fund manager that has 1.7 per cent, also came out in support of the Menzies board. |
Posted at 10/2/2022 14:28 by farukequity I see the biggest risk here to be MNZS board's egos and grandeur visions of future performance.Reality is MNZS balance sheet is very weak and while they've made a lot of progress over the past two years to streamline the business and win several new contracts, the bid is not unreasonable. The NAS statement this morning was very well crafted I thought, to appeal to both BOD and large MNZS investors, while also highlighting downside risks of the deal falling through. I'd expect one final offer with small bid increase, which should hopefully clinch it.We don't know what BOD is truly thinking and what are they hearing from major investors, hence the risk factor and share price trending lower than the bid proposal. |
Posted at 10/2/2022 10:46 by hamhamham1 Regulatory News (MNZS)There is 10 February 2022 Statement Regarding Possible Offer for John Menzies PLC NAS Holding for Company's Business Management (Holdco) S.P.C. ("National Aviation Services" or "NAS") notes the announcement made by John Menzies PLC ("Menzies") on 9 February 2022 and confirms that it has made two proposals to Menzies: ยท The first proposal was made on 17 January 2022 regarding a possible cash offer to acquire the entire issued and to be issued share capital of Menzies at an offer price of 460 NAS believes that its improved possible cash offer at 510 pence per share represents a compelling opportunity for shareholders to realise full value for their investment in cash. 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 believes that a combination of both businesses would equip the combined entity with the scale and resources necessary to serve a broader customer base globally, and capitalise on growth opportunities as the aviation industry emerges from the pandemic. Hassan El-Houry, Group Chief Executive Officer of NAS commented: "We have made an attractive offer that we urge Menzies' shareholders to consider carefully. Our offer represents a 76% premium over Menzies' share price just over a week ago. In our view, the fundamentals of Menzies and of the industry as a whole are unlikely to change substantially, notwithstanding cost-cutting measures by Menzies. Let's be clear: even as air travel recovers, airlines will look to contain costs with their airport service providers. NAS is a disciplined investor with a proven track record of growth, even throughout the COVID-19 pandemic that has largely decimated the industry. We are one of the fastest growing and most successful airport services companies in emerging markets, with an experienced leadership team." Pursuant to Rule 2.5 of the Code, NAS reserves the right to introduce other forms of consideration and/or vary the mix or composition of consideration of any offer and vary the transaction structure. NAS also reserves the right to amend the terms of any offer (including making the offer at a lower value) - there is more in the RNS but I only posted a bit of it. |
Posted at 10/2/2022 08:38 by bartyb NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTIONTHIS ANNOUNCEMENT IS NOT AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CITY CODE ON TAKEOVERS AND MERGERS AND THERE CAN BE NO CERTAINTY THAT AN OFFER WILL BE MADE FOR IMMEDIATE RELEASE 10 February 2022 Statement Regarding Possible Offer for John Menzies PLC NAS Holding for Company's Business Management (Holdco) S.P.C. ("National Aviation Services" or "NAS") notes the announcement made by John Menzies PLC ("Menzies") on 9 February 2022 and confirms that it has made two proposals to Menzies: -- The first proposal was made on 17 January 2022 regarding a possible cash offer to acquire the entire issued and to be issued share capital of Menzies at an offer price of 460 pence per share. This proposal was rejected by the Board of Menzies on 26 January 2022. -- The second proposal, also rejected by the Board of Menzies, was made on 2 February 2022 regarding an improved possible cash offer at 510 pence per share, representing a premium of approximately: -- 76% to Menzies' closing share price of 290 pence per share on 2 February 2022; and -- 68% to Menzies' 30-day volume weighted average share price of 304 pence for the period ended 2 February 2022. As one of the industry's fastest growing aviation services providers, with a presence in more than 55 airports across the Middle East, Africa and South Asia, NAS has a strong understanding of the dynamics of the aviation sector and the opportunities and challenges ahead as the sector recovers from the pandemic. NAS is part of the Agility Public Warehousing Company KSCP group ("Agility"), which, over the past 20 years, has been one of the largest investors in the logistics sector globally. Agility, listed on the Kuwait Stock Exchange, is a global player and a pioneer in emerging markets through diversified logistics activities and technological ventures. NAS and Agility are strategic investors that take a financially disciplined approach to investments and acquisitions. In formulating its proposals, NAS and its advisors have considered publicly available information in detail, including Menzies' performance before the pandemic, recent cost reduction measures, contract renewals and new business wins. In addition, NAS and its advisors have taken into account the company's debt levels, debt service obligations and ability to generate free cash flows and distribute profits to its shareholders, particularly in light of the investments required to remain competitive and grow the business. NAS believes that its improved possible cash offer at 510 pence per share represents a compelling opportunity for shareholders to realise full value for their investment in cash. 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 believes that a combination of both businesses would equip the combined entity with the scale and resources necessary to serve a broader customer base globally, and capitalise on growth opportunities as the aviation industry emerges from the pandemic. Hassan El-Houry, Group Chief Executive Officer of NAS commented: "We have made an attractive offer that we urge Menzies' shareholders to consider carefully. Our offer represents a 76% premium over Menzies' share price just over a week ago. In our view, the fundamentals of Menzies and of the industry as a whole are unlikely to change substantially, notwithstanding cost-cutting measures by Menzies. Let's be clear: even as air travel recovers, airlines will look to contain costs with their airport service providers. NAS is a disciplined investor with a proven track record of growth, even throughout the COVID-19 pandemic that has largely decimated the industry. We are one of the fastest growing and most successful airport services companies in emerging markets, with an experienced leadership team." Pursuant to Rule 2.5 of the Code, NAS reserves the right to introduce other forms of consideration and/or vary the mix or composition of consideration of any offer and vary the transaction structure. NAS also reserves the right to amend the terms of any offer (including making the offer at a lower value): a) with the recommendation or consent of the Menzies Board; b) if Menzies announces, declares or pays any dividend or any other distribution or return of value to shareholders after the date of this announcement, in which case NAS reserves the right to make an equivalent reduction to the terms of its proposal; c) following the announcement by Menzies of a whitewash transaction pursuant to the Code; or d) if a third party announces a firm intention to make an offer for Menzies at a lower price than referred to above. In accordance with Rule 2.6(a) of the Code, NAS must, by not later than 5.00 p.m. (London time) on 9 March 2022, either announce a firm intention to make an offer for Menzies in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer for Menzies, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline will be extended only with the consent of Menzies and the Takeover Panel in accordance with Rule 2.6(c) of the Code. A further statement will be made as appropriate. Enquiries: Agility Public Warehousing Co. KSCP Jonathan Kerherve +44 (0) 75 4019 4997 Barclays Bank PLC, acting through its Investment Bank Omar Faruqui +44 (0) 20 7623 2323 Chris Brooks Osman Akkaya Finsbury Glover Hering James Murgatroyd +44 (0) 20 7251 Richard Webster-Smith 3801 |
Posted at 09/2/2022 07:55 by hamhamham1 Usually derampers are those who sold or stopped out at a loss, else they wanna buy in cheaper.All under a thin veil that they here to save us stupid investors from losing our money, very noble work ;) |
Posted at 26/12/2021 13:55 by john09 Questor today——— Questor: tell me, Santa – will the long awaited stock market crash finally come in 2022? Questor share tips: a collapse could prove to be the most wonderful time of the year for patient investors Last Christmas, many investors were still nursing losses from the March 2020 stock market crash. This year, to save them from tears, the FTSE 100 and FTSE 250 have cemented their prior year recoveries. They have risen by 11pc and 12pc, respectively, between the start of 2021 and this Christmas. However, the potential for further gains could be compromised by several risks that increase the likelihood of a stock market downturn in 2022. Notably, the rate of consumer prices index (CPI) inflation has surged to its highest level for over a decade. The Bank of England has revised its forecast upwards in recent weeks so that it now expects CPI inflation to soar to around 6pc by April. Rising inflation has already prompted a higher interest rate. Further monetary policy tightening could reduce the appeal of shares relative to other assets. This may act as a drag on the stock market’s performance in the first half of next year. In addition, the pandemic remains a threat to the economy’s outlook. At present, it is too soon to know whether the new Covid variant, omicron, will cause lockdown measures that disrupt the performance of a variety of industries. Arguably even more uncertain is the way in which investors react to any reintroduction of Covid containment measures. Indeed, the rich valuations of some stocks suggest they lack an appropriate margin of safety in case future trading conditions are tougher than expected. Of course, some investors may believe that the stock market will bring joy to the world in 2022 by continuing its recent gains. Further fiscal stimulus in response to the pandemic may catalyse the economy’s performance. Similarly, monetary policy may prove to be less hawkish than would normally be expected during a period of higher inflation due to ongoing uncertain economic conditions. Moreover, a range of stocks continue to trade on very modest valuations. Industries that have been hit hardest by the pandemic, or which have not been obvious beneficiaries of a shift towards online and sustainability growth trends, could deliver recoveries in the coming months. As a result, it is impossible to predict with any degree of certainty whether the stock market will crash, soar or tread water next year, or in any year. Instead, focusing on buying shares when opportunities arise, rather than trying to guess whether the current bull market will stay another day, could be a more efficient use of investors’ time. In Questor’s view, such buying opportunities are far more likely to occur during a market crash. A larger number of high-quality companies could be undervalued while stock prices are falling rapidly. More importantly, company share prices can materially diverge from their underlying value during extreme market conditions. This may equate to an array of excellent buying opportunities that allow investors to fulfil the first part of a “buy low, sell high” long-term strategy. Clearly, a falling stock market in 2022 could create significant paper losses that cause distress for investors when they are next driving home for Christmas. However, a large proportion of investors are likely to be net buyers of shares over the coming year. Even retirees for whom a portfolio of stocks provides a regular income may find they buy a larger amount of shares than they sell due to a lack of opportunities in other asset classes and their partial reinvestment of dividend income. Therefore, a stock market crash next year could be highly beneficial to a large proportion of long-term investors. Clearly, many investors will instinctively think: “All I want for Christmas is a continuation of the current bull market.” However, for net buyers at least, there may be just one thing they need. A stock market crash could provide stronger, and more plentiful, buying opportunities that ultimately let it snow profits in the long run. |
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