New Star Asset Management Share Discussion Threads

[asmodeus] 23/1/2009 15:54

Hallo Asmo - I've found the answer for you - EPT stands for Exempt Principal Trader, and today's message means that dealings via Citigroup were 24,000 shares purchased at 2.5p, and 8,000 sold - also at 2.5p, apparently.

[doorway] 23/1/2009 15:51

the price paid was 2.3 aswell

[doorway] 23/1/2009 15:39

huge buy just gone through at big premium ...this is going to go large..

[jamie62] 23/1/2009 14:23

that's a healthy buy - 1.2m shares

[doorway] 22/1/2009 17:19

yes it is being held down...and my opinion we will see mutiple of todays price soon..as i say though just my opinion.

[jamie62] 22/1/2009 14:24

true but this is being held down. bid = 2.3, offer = 2.5. Last trade = 2.49 (40,000 buy) and share price remains at 1.92 ... go figure

[8trader] 22/1/2009 13:47

Just shows it's always right to warn others about serial pump and dumpers
on this site !...especially treacle28, one of the worst operators around !

[sprattyken] 22/1/2009 11:05

They are looking to delist on 9th March.

Then they will either be bought out (either new shares or cash to sh) or go bust with funds taken over. If this happens I don't see any return for equity.

The best case scenario is for someone to take out the comapny before delisting, but that would mean taking on the existing debt. If they wait until delisting, there is an outline deal for the banks to write off debt in exchange for ord and pref shares.

I only hold CFDs. This is a problem as the positions will be closed when delisting happens. I will therefore be looking for a reasonable exit point (which was probably last week!) Paper shareholders will still hold their sh until this plays out.

[duncancosgrove] 22/1/2009 10:59

Does the release mean they would relist at the date they buy back the shares?

[sprattyken] 22/1/2009 10:59

Plenty of warnings in the RNS. They have said on several occasions that dilution will be 95% but this is in the share price imo.

It almost feels like they want to clear out holders by scaring them on the liquidity front before the deal gets inked in.

Don't forget that Duffield and the staff own quite a bit of stock and will be far more aware of possible outcomes here. Duffield will not be launching another venture so does not need the goodwill of investors for the future.

The thing to be wary of is outflows and staff retention. If the buyers walk away due to a perception of brand destruction and lack of visible earnings/cost savings this will go bust without doubt.

I think a deal will get done, and there could be a battle once delisting has happened, so long as outflows slow down.

A consistent general market upswing would help hugely...........

[jamie62] 22/1/2009 10:49

i don't get it. more buys than sells. Henderson article souding positive and a re-statement of the de-listing process. As a result, share price collapses. i too feel unconfortable with this, but doesn't look much point in selling (i said the same about wlw - so what do i know !)

[itskashyap] 22/1/2009 10:45

Been away this morning...looks like there is no point in selling now...i was in at 1.87 for 500,000 shares. Can anyone explain what today's RNS means for PI's?

Thanks

[yawn1971] 22/1/2009 10:42

...... sitting here watching it ! I was expecting a bit of a rally on the Henderson news ..... new to this shares stuff - feel like i may get my fingers burnt with this one ! I like your commitment Jamie62 ..... i guess i'll be holding on too ..... just feel very uncomfortable right now.

Any ideas where / how this will end up anyone ?

[maak128] 22/1/2009 10:38

40% drop- ouch

[jamie62] 22/1/2009 09:54

and there's a 200,000 buy ...

[jamie62] 22/1/2009 09:51

the oddity is that bigger PIs probably can't wait, whilst those of us who are smaller and have committed less can sit it out. i know i will

[ianbrewster] 22/1/2009 09:34

The comment on possible offers for the company was that they would be contingent on the debt restructuring.

If the company will be de-listed BEFORE the debt is sorted out, that implies that we will be de-listed before any offer is formalised.

What are the implications on the SP? A lot of PIs and Instis will sell before the de-list - either don't want to hold or, for funds, their mandate won't let them.

If you are prepared to wait for the end-game, there may be some bargains to be had in the coming weeks.

[jamie62] 22/1/2009 09:16

presumably the notice regarding de-listing is just process

[mister md] 21/1/2009 20:12

Hendersons pull ahead in New Star bid

By Charlie Parker | 18:40:04 | 21 January 2009
At the weekend Schroders were installed as the favourites to acquire New Star Asset Management.
No preferred bidder has yet been announced and may not be for some time as the asset manager finalises its debt restructuring.

However, Citywire understands that with most contenders now out of the running, Henderson Global Investors has pulled ahead as the favoured candidate.

Nothing is set in stone yet but Citywire understands Henderson, led by newly-installed chief executive Andrew Formica, has tabled a cash bid which outstrips the one from Schroders.

A purchase by Hendersons could offer a greater chance of keeping some of the group's fund managers.
Tim Steer, manager of New Star UK Alpha, could potentially bolster a lacklustre UK desk while the bond team led by James Gledhill could join bond supremo John Pattullo.

[asmodeus] 21/1/2009 17:53

Does anyone here understand these "EPT Disclosures" relating to New Star? Do they describe options, and, if so, are they bets on NSAM rising, or falling?

[jamie62] 21/1/2009 16:52

but an interesting finish

[jamie62] 21/1/2009 15:36

300,000 buy at 3.416 and still no upward movement

[maak128] 21/1/2009 11:45

about to be delisted/suspended shortly imo......... dier