Micro Focus Share Discussion Threads

[sogoesit] 21/4/2017 13:15

Here are the Acquisition notice key points, flatout:
"The issuance of American Depository Shares ("ADSs") to HPE shareholders representing Micro Focus shares (the "Consideration Shares") so that immediately following completion of the Merger ("Completion") HPE shareholders will own 50.1% of the fully diluted share capital of the combined group (the "Enlarged Group") and;

o Consideration to HPE comprises a pre-Completion payment of $2.5 billion (subject to certain adjustments) which will be financed through newly incurred indebtedness of HPE Software

· US$400 million return of value to Micro Focus shareholders to be paid pre-Completion"

So my "former shareholders" applies to holders of Micro Focus LSE listed shares NOT to the new ADRs representing new shares to be issued to HPE shareholders immediately following completion. And that payment is pre-completion so I was wrong on that particular issue but you see how the logic works.

Was Boris "in and out" of the same person ;-) ?

[flatoutfred] 21/4/2017 09:59

Thanks Sogo, Former Shareholders ? I've been out n in more times than Boris Johnston, does that mean I get a divi for each time ?

[phillis] 20/4/2017 22:57

Montyblather
Why don't you post only when you have something sensible to add?

[montyhedge] 20/4/2017 16:03

They should mention with figures a couple of weeks time.

[sogoesit] 20/4/2017 13:15

Not announced as far as I know flatout.
They said they would reward former shareholders with the bonus "on completion".
Completion is due 3Q 2017.

[flatoutfred] 20/4/2017 11:54

Whats the ExDivi date to qualify for Special Div?

[montyhedge] 19/4/2017 15:04

When will these two funds close their shorts? before figures or after. I expect this to hit 28000p including our special dividend this year.

[montyhedge] 19/4/2017 12:04

Sogosit
Have a look at Kainos Group, see what you think. I bought a few I think it could double over the next 2 years.
They pay a dividend as well, unusual for a software company.

[montyhedge] 19/4/2017 10:34

How can these two funds be short of 2.6m shares, if the special dividend and normal dividend this year equals around £2 that £5.2m to pay back, if they have not closed.
Bulls will smell blood against the bears, lol.

[montyhedge] 18/4/2017 06:33

SogositThanks confirms my thoughts, anyone short would have to pay this back I suppose.

[sogoesit] 18/4/2017 05:43

I'm away, travelling.
To confirm: special between £1.25 and £1.55 plus next normal of 70p = estimate of £1.95 to £2.25 per share dividends to come this year.

[montyhedge] 17/4/2017 20:08

So that's combined I worked out around 1.15% = 2.6m shares.SogoesitAny thoughts on that?

[montyhedge] 17/4/2017 19:24

Wow just seen two hedgies who are short on Micro Focus on Shorttracker. WorldQuant .53% of the shares and OZ Management .63% they are brave, I would want to close positions before they pay that special dividend.Bulls perhaps we smell blood, lol

[montyhedge] 17/4/2017 18:44

Adrs up nearly 3% tonight in US, we should be a lot higher in the morning.

[montyhedge] 13/4/2017 14:58

Sogoesit
I make a p.e 21 at the moment, do you agree with my special dividend and normal dividend calculation?

[montyhedge] 13/4/2017 12:50

I see this 2850p this year even after our special dividend.

Great share for the Isa's with that special coming.

[sogoesit] 13/4/2017 12:39

Nope, afraid not monty. I classify this as a "growth&income" share as borne out by the compound growth. It also yields less than my threshold since 2015 for non-special dividend stream.
ISAs are stuffed with housebuilders & closed-book insurers (PSN, TW, CSN, PHNX).

[montyhedge] 13/4/2017 11:54

Sogoesit
I hope you have Micro Focus shares in your Isa's, the special dividend and normal dividend I expect around 200p for the year, then tax free. About a 9% return.

[montyhedge] 13/4/2017 08:50

Way I worked it out special £1.35 and normal 65p making 200p.I reckon special will be mentioned in May figures, or do you expect next set of figures?

[sogoesit] 13/4/2017 08:36

Next dividend, July, around 70p making around 90p including the last 23.6p.
I think you mean the special will be around USD 2.00 not GBP 2.00.

[montyhedge] 12/4/2017 17:21

Sogoesit
Its been a great share and ride up. I have been in and out then back in, lol
I'm still holding, just hope they announce the special divi in May. Encouraging CEO paid over 2500p.

Whats your forecast this year dividend wise, with the special 200p ?

[sogoesit] 12/4/2017 16:47

I was "carried away" (in a straight-jacket) a long time ago! Lol.
What about you, Monty, still in the asylum ;-)?

Depending on my various points of entry on this since 2013 my CAGR, excluding dividends, ranges between 34% and 66%. Of course i realise I'm a nutter.

[montyhedge] 12/4/2017 10:46

Sogosit
Don't get carried away. If those figures have a hint of disappointment, then back to 2150p.

[montyhedge] 12/4/2017 10:45

This incredible run, could not last, run up to quickly.

[sogoesit] 12/4/2017 10:28

Ex-dividend tomorrow for me on CSN and Reckitt Benckiser.
Time for a bit of re-allocation:
Will sell down some RB and drop some more into MCRO given that it has far-outperformed RB over the years. Also like to have a bit more income to keep the bank happy!!

On 11 April Barclays said "Overweight" TP 2600p
On 20 Feb Citigroup said "Buy" TP 2875p

In a post a while back I had £27 then £31 as my targets. The £31 was for 3Q completion of the deal so that's the direction I'm heading, accumulating upto £27, on this for the time being. (Cant recall my logic for those so will have to check).