Opd Share Discussion Threads

[jeffian] 10/1/2011 15:18

Trading updates today from Michael Page (gross profit up 30%+) and Hydrogen (net fee income up 60%+). Yep, OPD management sure picked the bottom of the cycle to mug their minority shareholders. How long before they re-float, do you think, to line their pockets again and draw in another load of mug punters? Prime People. OPD. 3rd time lucky (again?). Why change a winning formula? Investors would be wise to memorise the names of those involved and steer well clear in the future IMHO.

[jeffian] 01/5/2010 09:45

dldl,
We were all hanging on Schroders' coat-tails. Having increased their holding to just over 25% they were the only thing preventing the Hearn Gang having completely free rein and I was prepared to tough it out as long as it took but as soon as Schroders went, leaving only about 6%(?) of the shares in outsiders' hands, the battle was lost. When they de-list, your shares are pretty well unsaleable and with over 90% they can compulsorily acquire your shares in due course anyway. Take what you can and run IMHO. Just remember who was involved and how they treat shareholders and make sure you never have anything to do with them again if they try to reappear as part of a public company.

[dldl] 30/4/2010 17:29

This is like the last days of the Reich. Is anybody there or like Schroders and Jeffian have you all f... off and left the last few of us in in the bunker . I'm sure crital still there and will stand with the last few of us. Please say it was'nt all talk !

[jeffian] 28/4/2010 13:25

It was Schroders.

I'm out.

[jeffian] 27/4/2010 23:00

It looks rather like it. Schroders' last reported holding was 6,720,261 which is suspiciously close to the figures traded today. Certainly nobody else holds anything like that. If it was Schroders, the rest of us may as well surrender too as they are beyond the 90% limit at which they can mop up the minority.

I wish Mr. Hearn and his gang well with their company and I trust that, if they ever seek to re-float or run a public company again, the market will remember this little episode and give it the wide berth it deserves. If Graphite want to make money out of this, they'll have to drop the unsavoury bunch before re-floating or selling it on, but I've seen that done before. A plague on all their houses.

[crita1] 27/4/2010 17:44

Does anyone know whether the large transactions today are Schroders selling and Hearns mob buying

[sir brainy] 23/4/2010 17:30

I respect that, have a lovely weekend.

[davidosh] 23/4/2010 17:24

I may post my thoughts over the weekend but unlikely to play to the crowd on ADVFN. I have been far too busy at company meetings and playing tennis just now to spend a whole day in Combat mode on a BB.....lol

[sir brainy] 23/4/2010 17:19

David - your comments well overdue over at LNG, Sir

[davidosh] 23/4/2010 17:10

It is certainly a strange way to run things and it seems like Virginia and her crew put one over him. Schroders will not give in so a real stalemate.

[jeffian] 21/4/2010 11:58

Results due out sometime this month. Given the more upbeat statements recently from other recruiters, should be promising and the share price has lagged the others' recent performance. Due a catch-up?

[jeffian] 09/4/2010 09:29

Despite the tiny free float here, there still seems to be some trading activity in the shares so recent trading updates in the sector are encouraging, indicating that we are through the bottom of the cycle and into the next upswing.

This from Robert Walters IMS yesterday:-
"We have seen a significant improvement in recruitment activity in the first quarter.............The Group is also benefiting from increased hiring activity in the UK particularly within the banking sector............

and from Michael Page's trading update today:-
"The improvement in our performance has been driven largely by greater permanent recruitment activity, as confidence levels have increased leading to a higher rate of job churn, and a stronger than expected performance in the UK."

[jeffian] 01/4/2010 23:11

Don't know the answer to the first question but I doubt that a bid is imminent. The only possible bidder would be 'Offerco' (i.e. the management) who already control the majority of the shares and they are precluded from bidding again for a year(?) unless they are prepared to go back and offer the same price to all the doughnuts who accepted 57p last time around. The current standoff is between the majority shareholders on the one hand, and Schroders and the few PI's who held out for a higher offer on the other, and will no doubt be resolved when the interests of those two sides coincide. In the meantime, the performance of the sector (Michael Page, Harvey Nash etc. etc.) indicates that we were right to hold out.

[dldl] 01/4/2010 19:42

Does anyone know why this illiquid stock has such a small spread ? Is this indicative that a bid at this price is anticipated ?

[crita1] 26/3/2010 15:39

Does anyone know when the results are out for this company?

[jeffian] 05/3/2010 09:41

Interesting to note the recent flurry of results in the sector - Michael Page, Robert Walters, Harvey Nash etc - which seem to indicate that the market has bottomed out. Some are even recruiting again and a couple have maintained dividends (albeit barely/uncovered). I doubt our management will go that far(!) but it looks as if the worst is behind us.

[jeffian] 18/2/2010 16:43

Intriguing RNS today stating that Marilyn Lee has acquired 600,000 shares to take her holding above 5%.



Mrs. Lee is Chairman Peter Hearn's sister and one of the 'concert party' involved in the recent takeover bid. Wonder where the shares came from.

[jeffian] 11/1/2010 19:12

Well the outcome was inevitable but it doesn't seem to have done the share price much harm!

[sir brainy] 19/12/2009 22:10

Interested to know the result

[davidosh] 19/12/2009 22:05

It begs the question...

Why on earth did they buy Odgers if they did not have the confidence in the management enough to now have to give it back to them as the 'only' incentive ??

What happened to old fashioned hard work and achievement as a measure of success with a good salary and reasonable bonus at the end of the year ?

It seems everyone wants the whole company or they are taking the ball home !!!


Very fair indeed...

I shall be going to the meeting BUT will the directors bother to turn up this time ?

[jeffian] 19/12/2009 13:20

Even if it's a 'done deal', I intend to go along to the meeting to try to find out what is going on. I've just received the full Circular which I haven't read yet but, on the face of it, it's hard to understand where OPD are going with this. Odgers is the largest and most profitable part of the business. Without it, OPD will be a shadow of its former self and, arguably, unviable as a public company (though given that the unsuccessful bid was an attempt to take it private, perhaps that's the point!). I don't get the argument that Odgers needs to be independent to incentivise its staff - surely you could say that about any public recruitment company? I'm going to have a look through the docs to try to understand what OPD will look like if this deal goes through and would appreciate anyone else's thought on the matter.

Regards, Ian

[jeffian] 19/12/2009 12:59

"The Resolutions will be proposed as ordinary resolutions and will be passed if more than 50 per cent. of the votes are cast in favour. If the Resolutions are not passed, the Transaction will not proceed."

"OPD has received an irrevocable undertaking to vote in favour of, or procure a vote in favour of, the Resolutions from Offerco Limited, which holds 16,838,356 Shares, representing approximately 63.09 per cent. of the total issued share capital of the Company."

[crita1] 19/12/2009 12:48

Can anyone tell me whether 75% of the shareholding is required for the sale of Odgers to be ratified?

[davidosh] 17/12/2009 14:13

All very interesting....I do not think Schroders are their best mates !



The plan to sell off Odgers has been hatched...