Orchard Funding Share Discussion Threads

[valueman94] 18/4/2024 17:17

Why are you assuming people are willing to such a low tender offer?

[konradpuss] 18/4/2024 16:27

top you are correct 75%. I was wrong. I think on that basis your take on it makes more sense than mine.

I still would not want to be in the 25% camp if it goes private with Peter/Ravi with 75%.

[topvest] 18/4/2024 15:59

I don't believe an offer will be forthcoming. He needs 75% to delist the company. I think the Board will undertake a partial tender offer, as they have alluded to. They will then likely delist with over 75% owned by Ravi and some minority holders that don't take the tender. He can then make an offer to the others, if he feels like it in 2 or 3 years time. Just my take on it.

[valueman94] 18/4/2024 13:34

Ravi wants the whole company so he will want a 90% approval vote.

[konradpuss] 18/4/2024 12:57

To take a public company private I believe you only need over 50% of the vote.

So Ravi could put that to a vote along with a low offer.

I would be very cautious of going in deeper here. I do not trust Ravi to play fair.

[valueman94] 18/4/2024 12:04

Peter,

Any offer will have to go through to a vote. From the feedback I currently has so far. A takeover offer lower than NAV is seriously unlikely.

[orchardholder] 18/4/2024 10:06

@valueman94: I also own 1.5% of the shares - let's get in touch (I have also reached out to you via a direct message)

I still consider increasing my position, but the liquidity continues to be quite low

[konradpuss] 18/4/2024 07:42

Speculation?

Good old Peter, I will miss him when he errrh! Ravi takes this 'ship' private.

[97peter] 18/4/2024 07:33

Supposition.

[muffster] 17/4/2024 21:40

Thanks Ravi

[cwa1] 17/4/2024 21:23

Superstition??

[97peter] 17/4/2024 21:16

All - This is all superstition! The review outcome maybe status quo? If Ravi who owns over 49% could say tight I want to buy out all and take company private could offer 35p and do that! Or stay as is and take the company forward to bigger and better pastures with his LendXP SaaS and collaborate with Aviva and DirectLine as LendXP SaaS is brilliant!!

[konradpuss] 17/4/2024 18:08

top, as I have already set out here Ravi can take the company private with very little cash of his own. O.K. my figures need a little update as I was using a historic cash balance figure. He can, as you say, manage the business into any offer to increase the cash at the company.

I think he will have to pitch any offer so that he does not get a minority bunch of 'ruckers' that constantly give him grief.

My guess is that the funds you mention might not be able to hold stock in unquoted companies.

[topvest] 17/4/2024 17:50

Yes, can't remember what the timeline is?

[davidosh] 17/4/2024 14:18

Ravi cannot buy shares without notifying the market though

[topvest] 17/4/2024 14:10

It's certainly edging up nicely. I suppose Gresham House and Chelverton will have the biggest say here. It looks like Ravi maybe taking on the small sales in the market, what do others think? Really Ravi should do the right thing and make an offer for the company, but I suspect that he doesn't have sufficient liquidity.

In which case he will nibble at the small holders and then the board will do a buy-back at whatever price is agreed with Gresham House and Chelverton. That way Ravi still gets most or all of the company back.

Given that growth in the loan book has probably turned negative in H2 then cash will start accumulating in the company. The lack of dividend also helps. They also have c£7m of unused facilities which is more than enough to take out all minority shareholders.

It won't be book value, but I could see 30-50p as possible. I will await developments for now. It may take several months I suspect.

[konradpuss] 16/4/2024 20:19

Logic would say if you bought much higher you should have averaged down. I could not do it as I just do not trust the management.

I am hopeful of still getting my money back.

[eeza] 16/4/2024 20:02

Poor BB sold before the rise, I think

[cowie19] 16/4/2024 19:47

Another little kick up the behind today. I like this very recent turn of events.

[cwa1] 15/4/2024 14:23

It certainly makes a change!

[cowie19] 15/4/2024 14:08

Nice to be watching this rising

[valueman94] 13/4/2024 18:06

I hold about 3% of the outstanding shares. I will not be selling for less than NAV.

[bedbel] 13/4/2024 11:36

I think 40-45p would be a decent offer for most parties. The higher the better but in my view not realistic. Under 40p a number of shareholders will stay shareholder and that is not what Ravi wants. Anyway, if he can not get an agreement with the big holders I guess the shares remain listed.

[konradpuss] 13/4/2024 10:49

Value, I think Ravi would find it very difficult to do anything ever again in the public arena if he delisted then made a very low tender offer.

I don't think he would stoop that low, however you never know. I guess he would however need to put a delisting to a vote.

[valueman94] 13/4/2024 10:40

Why sell for less than 80p? My biggest concern is that the Takhar family only need another 3.9m shares to force through a delisting. I have been in contact with the other significant shareholders to reject ANY attempt by the Takhar family to delist the company BEFORE (not after) a tender offer of NAV.