Nahl Share Discussion Threads

[johnhemming] 30/9/2020 16:37

I don't know the Takeover code panel rules inside out. I don't see any declarations of share trading by Frenkel. That may be that they don't need to.

[grahamg8] 30/9/2020 16:33

What are Frenkel up to? They seem to be trading Nahl shares, and doing a pretty dreadful job of it. Only a few shares each day granted, but they buy at a higher price than they sell at. Madness. I find it increasingly difficult to believe that this approach is a serious preliminary to an offer. If they thought 55p+ was a sensible price then they should be mopping up anything spare going, not p*ssing about.

[johnhemming] 30/9/2020 10:52

In the circumstances (with the cross shareholdings) I assume that an independent report on the offer will be required. Myself I think NAH is undervalued by the market whereas FEN is not. We will have to wait to see what the offer is.

[loglorry1] 24/9/2020 20:57

Agree topvest but why do you think Mills will be generous?

[topvest] 24/9/2020 20:16

Chris Mills is the key here. Remember that Harwood Capital have a major holding in both. They aborted their takeover bid on FEN in the summer. We know why now....presumably because of the idea of using FEN as a vehicle to combine with NAHL was an enticing prospect!

[grahamg8] 23/9/2020 16:02

Fairly predictable big rise and slight retrace. Not much turnover so it seems wait and see is the overall conclusion of most shareholders.

[energeticbacker] 23/9/2020 14:54

NAHL and Frenkel Topping: the combination of these two, relatively low profile, AIM companies could be a good move.

More on the Investor's Champion website.

[apfindley] 23/9/2020 08:04

I think rather than a cash offer it will likely be new equity in the predator company exchanged for your nahl shares.

[loglorry1] 23/9/2020 07:36

NAS has a good brand but sadly these sorts of legal service aren't really what you buy every week at the supermarket!

The good part about the brand is that it generates almost free web traffic to their site in the form of highly lucrative leads. A lead is probably worth £250 to NAH so as you can imagine the brand and associated web traffic is worth a lot of money.

Bush is the real jewel in the crown however. If you put the Bush earnings (once covid is worked out) on the same multiple as FEN earnings (and they are reliable and steady like FEN) you will see a lot of upside.

[someuwin] 23/9/2020 07:11

'National Accident Helpline' must be the most well known brand in the sector. Must be worth a hefty premium on its own.

[someuwin] 23/9/2020 07:07

Wonder if CEO Russell Atkinson resigning two weeks ago was because he intends to put together (or front) an alternative bid?

He's been with the company since IPO.

[loglorry1] 23/9/2020 06:48

I would strongly dissagree that it is more than fully valued. Look at how much cash was generated last half year, how much debt was paid down. Post new regulations they will be very well placed to generate a lot of cash going forwards. FEN do look a bit small to take on NAH but I suspect this might well flush out some new bidders. Chris Mills via Oryx and NAS have been buyers and they could take the company private for example.

[qs99] 23/9/2020 06:42

Share merger says it all, not worth paying cash for as too many risks....will it go higher today? Probs, but looks more than fully valued IMO at present DYOR

[loglorry1] 23/9/2020 06:39

grahamg8 not sure about that. There are a lot of institutional holders here who would probably take a decent offer. I guess it all depends on price. NAH is very cheap down here. Bush alone supports the valuation in my view.

[grahamg8] 23/9/2020 06:36

Frenkel don't look big enough to force this through. But NAH might quite like the fit between the two businesses. Success will therefore probably depend on which individual directors end up with the best jobs. From a shareholder perspective the best outcome is likely to be that this approach teases out a counter offer from a company with deeper pockets. PFG being the obvious candidate, and a nice bit of revenge for them too.

[grahamg8] 22/9/2020 06:45

It's about time AIM made sure some people ended up in prison for insider trading.

[fenners66] 22/9/2020 06:21

So does the market focus on the decline in profit , or strong cash flow ?

[aleman] 21/9/2020 20:45

17% rise the day before results is just a coincidence, of course.

[danieldruff2] 17/8/2020 10:36

Difficult to see anything positive for them right now. Housing market shut for part of the year, courts shut, fewer car and workplace accidents with folks inside. Govt personal injury reforms delayed for another year. They have had no luck at all.

[aleman] 17/8/2020 10:33

Having expanded conveyancing, maybe NAH is benefitting from this.

[ali47fish] 31/7/2020 08:19

still going up

[nick rubens] 23/7/2020 08:33

Since this company floated and the initial IPO excitement of a share price rise, it's steadily declined. A pattern I see regularly repeated on the stock exchange.

Unfortunately the declines do seem to end up terminal eventually for shareholders holding the paper long term.

[corrientes] 23/7/2020 07:09

Its your job to be perpetually negative about everything you come across. A glass 1/100th empty doesn't do you justice.

[owenski] 23/7/2020 06:19

Dire.

Avoid.

Bargepole.

[aleman] 11/6/2020 11:58

Might not be sustainable?