Pendragon Share Discussion Threads

[niklol] 17/10/2023 19:17

Autonation have pulled out this evening

[c_k] 14/10/2023 08:32

The legal action by Pinewood AP has not been struck out by the court, which Pendragon's subsidiary, Pinewood, had requested. The court has agreed that loss of profits can't be pursued and Pinewood AP say they will appeal the decision. The announcement hasn't changed the share price I note that Newtyn keep buying a couple of million shares a day which will support the share price Will we see any further offers next week? Goldman Sachs's have sold 10M shares on behalf of Lithia and bought 10M CFD long. Court press/news releaseshttps://cardealermagazine.co.uk/publish/pendragons-attempt-to-have-pinewood-legal-battle-struck-out-fails-as-firms-face-high-court-showdown/291376https://www.prnewswire.co.uk/news-releases/pinewood-asia-pacific-welcomes-uk-court-decision-to-uphold-case-against-pendragon-subsidiary-301956517.htmlWas

[c_k] 10/10/2023 07:56

Newtyn appear to think there is money to be made. They have been buying over the last few days and are up to 28M shares. Their website shows the US fund manager specialise in takeover situations like this to make money - interesting that it's on their radar where their focus is on the US. I can only think they consider Autonation to be still in play as I can't think of anything else which would raise the share price.

[daneswooddynamo] 09/10/2023 15:56

Certainly shows the market is sceptical that Autonation will go to 38 which is probably the level needed

[c_k] 09/10/2023 15:39

The General Meeting of Pendragon's shareholders will be held at 10.00 a.m. on 25 October 2023 to vote on the recommended Lithia bid. Autonation need to make an increased before this date. This should now come to a head quite quickly. I note the Sunday Times article at the weekend didn't move the shareprice so Lithia's offer looks favourite to secure Pendragons car dealer business.

[daneswooddynamo] 08/10/2023 08:27

Nothing better than a tussle between two big US cos when they are both after the same thing. As said before Global Auto must be enjoying the closure of Lookers deal although maybe Pinewood is more valuable than we thought

[buffalobillnuts] 08/10/2023 08:16

Looks like I sold too quickly, but it definitely opens up Vertu as being a sitting duck. Clearly 3 into 1 doesn't go!

[c_k] 08/10/2023 08:14

Car dealer magazine are reporting on todays Sunday Times article, which is behind a paywall, that Autonation may be willing to pay 38p per share. Looks like it could be another interesting week. https://cardealermagazine.co.uk/publish/autonation-plotting-increased-bid-for-pendragon-which-would-value-car-dealer-at-over-500m/291003

[c_k] 05/10/2023 12:28

With September being a new registration plate month the increase is huge. This though is to be expected and why SMMT compare previous years month. August was 85567 which was an uplift of 24.4% tear on year.

[daneswooddynamo] 05/10/2023 12:08

A similar percentage uplift. The absolute number very different due to the plate change

[dennisbergkamp] 05/10/2023 11:19

How’s it compare to last month?

D

[mortimer7] 05/10/2023 10:31

SMMT Figures this morning for UK new car registrations for the month of September show a 21% uplift on Sept 2022 with a total of 272,610 this month vs 225,269 LY.

With new car margins at an unprecedented high it's no wonder everyone & their dog are trying to get their hands on the listed UK retailers.

[dennisbergkamp] 04/10/2023 16:12

Quelle surprise!

D

[mortimer7] 04/10/2023 15:53

2.16pm "Hedin and PAG confirm that they do not intend to make an offer for Pendragon"

[daneswooddynamo] 04/10/2023 15:52

More than likely. Autonation are going to have to offer 36/37 cash imo and that maybe a stretch too far. Better off turning their attention to vertu

[c_k] 04/10/2023 15:42

With Hedin and Penske not proceeding I assume this clears the way for Lithia. Autonations conditional offer at 32p looks as though they are out of it too. share price dropped accordingly due to the reduction in competition. Only 51% votes needed for the Lithia offer.

[daneswooddynamo] 04/10/2023 10:52

Unchanged over the last 6/9 months

[hardupfedup] 04/10/2023 10:45

whats hedin holdings percentage prior to this ref rns

Hedin Mobility Group AB (publ) Form 8 (OPD) - Pendragon plc (6839O)
04/10/2023 10:28am
UK Regulatory (RNS & others)

Pendragon (LSE:PDG)
Intraday Stock Chart

Wednesday 4 October 2023

Click Here for more Pendragon Charts.
TIDMPDG

RNS Number : 6839O

Hedin Mobility Group AB (publ)

04 October 2023

FORM 8 (OPD)

PUBLIC OPENING POSITION DISCLOSURE BY A PARTY TO AN OFFER

Rules 8.1 and 8.2 of the Takeover Code (the "Code")

1. KEY INFORMATION

(a) Full name of discloser: Hedin Mobility Group AB (Publ) and PAG International Ltd.
(b) Owner or controller of interests and short positions N/A
disclosed, if different from 1(a):
The naming of nominee or vehicle companies is
insufficient. For a trust, the trustee(s),
settlor and beneficiaries must be named.
----------------------------------------------------------
(c) Name of offeror/offeree in relation to whose relevant Pendragon PLC
securities this form relates:
Use a separate form for each offeror/offeree
----------------------------------------------------------
(d) Is the discloser the offeror or the offeree? OFFEROR
----------------------------------------------------------
(e) Date position held: 03/10/2023
The latest practicable date prior to the disclosure
----------------------------------------------------------
(f) In addition to the company in 1(c) above, is the N/A
discloser making disclosures in respect
of any other party to the offer?
If it is a cash offer or possible cash offer, state "N/A"
----------------------------------------------------------

2. POSITIONS OF THE PARTY TO THE OFFER MAKING THE DISCLOSURE
If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

(a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates


Class of relevant security: 5p ordinary
Interests Short positions
---------------------- ------------------
Number % Number %
------------- ------- ------------- ---
(1) Relevant securities owned and/or controlled: 385,424,322 27.59%
------------- ------- ------------- ---
(2) Cash-settled derivatives:
------------- ------- ------------- ---
(3) Stock-settled derivatives (including options) and agreements to
purchase/sell:
------------- ------- ------------- ---

TOTAL: 385,424,322* 27.59%
------------- ------- ------------- ---

* all of the securities and derivatives included in this section 2(a) are held by Hedin Mobility Group AB (Publ)

All interests and all short positions should be disclosed.

Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

Details of any securities borrowing and lending positions or financial collateral arrangements should be disclosed on a Supplemental Form 8 (SBL).

(b) Rights to subscribe for new securities

Class of relevant security in relation to which subscription right exists: None
Details, including nature of the rights concerned and relevant percentages: None
-----

3. POSITIONS OF PERSONS ACTING IN CONCERT WITH THE PARTY TO THE OFFER MAKING THE DISCLOSURE

Details of any interests, short positions and rights to subscribe (including directors' and
other employee options) of any person acting in concert with the party to the offer making
the disclosure:

Interests held by persons acting in concert with Hedin Mobility Group AB (publ)
Percentage of issued
Number of ordinary share capital (excluding
Name shares share options)
Trevor Finn 17,027,976 1.21%
------------------- --------------------------
Anders Hedin 1,600,000 0.11%
------------------- --------------------------
Helena Hedin 1,217,639 0.08%
------------------- --------------------------

Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

Details of any securities borrowing and lending positions or financial collateral arrangements should be disclosed on a Supplemental Form 8 (SBL).

4. OTHER INFORMATION
(a) Indemnity and other dealing arrangements

Details of any indemnity or option arrangement, or any agreement or understanding, formal
or informal, relating to relevant securities which may be an inducement to deal or refrain
from dealing entered into by the party to the offer making the disclosure or any person acting
in concert with it:
Irrevocable commitments and letters of intent should not be included. If there are no such
agreements, arrangements or understandings, state "none"
None

(b) Agreements, arrangements or understandings relating to options or derivatives

Details of any agreement, arrangement or understanding, formal or informal, between the party
to the offer making the disclosure, or any person acting in concert with it, and any other
person relating to:
(i) the voting rights of any relevant securities under any option; or
(ii) the voting rights or future acquisition or disposal of any relevant securities to which
any derivative is referenced:
If there are no such agreements, arrangements or understandings, state "none"
None

[c_k] 02/10/2023 16:37

I think The Board and senior management will be delighted. Huge payouts at the takeover and if the offer they are backing goes through they run the smaller Pinewood business and get paid the same salary. Time for more golf?

[daneswooddynamo] 02/10/2023 15:30

That Global Auto lot are sitting pretty and the vtu management is waiting by the phone for the call from Autonation. Just leaves Hedin to work out what to do with 26 percent of Pinewood and Penske to just go back to the No 1 slot business as usual. They probably just wanted Lithia to pay up. Still, have kept a slug in case the US guys start to seriously overpay

[mortimer7] 02/10/2023 15:23

For once, this is all great fun for shareholders, for the board not so much!

[daneswooddynamo] 02/10/2023 14:59

Shows what muppets the board are and the depth of antagonism to hedin

[c_k] 02/10/2023 14:57

Interesting increased offer from Lithia. 49% increase in the cash to 24.5p with a claimed implied offer of 35.4p. The CMA and OEM conditions have been removed.Shows Lithia undervalued the business with their last offer. With the Sp at 35.5p City looks as they think other increased offers may be landing.

[cb7] 02/10/2023 14:48

the "market" clearly thinks so

[jaf111] 02/10/2023 14:36

Lovely jubbly….let hope this story has a few more chapters 😂😂😂