Poundland Share Discussion Threads

[maloneyt] 25/7/2016 23:47

It seems to be the case, as Elliot Capital Advisors have increased their holding from 13% to almost 17.5%

[cabreado] 25/7/2016 18:00

New higher bid is on sight.

[maloneyt] 25/7/2016 11:17

Who is buying this time then? I wonder

[maloneyt] 22/7/2016 14:07

Whats this, a tree shake for the benefit of Canada Life to get their share holdings back??

[redartbmud] 22/7/2016 10:15

Irrevocable undertaking to accept the bid. Guess it could be considered as a contract.
Honour amongst thieves and all that.
If you screw up you have to pay up and look big. After all, it isn't their personal money.

[maloneyt] 22/7/2016 09:36

I still dont understand as to why Canada life would want to buy the shares back again. They will have to sell them at 220p when the takeover is complete anyway. Any ideas? Would they be hoping for a higher offer?

[redartbmud] 21/7/2016 20:59

Somebody at Canada Life will not get a bonus next time round.

They might persuade another Institution to let them lighten their load. You scratch my back, and I'll scratch yours when you need a favour in future.
That is how it was back in the day anyway.

[maloneyt] 21/7/2016 11:23

Whats this. are they lowering the share price so that Canada Life can buy their 3.5m shares back?? Why would they want to buy the shares back anyway? Stainhoff should increase the offer to make them pay more for the shares they want to buy back !!

[maloneyt] 21/7/2016 11:21

Whats this. are they lowering the share price so that Canada Life can buy their 3.5m shares back?? Why would they want to buy the shares back anyway? Stainhoff should increase the offer to make them pay more for the shares they want to buy back !!

[maloneyt] 21/7/2016 10:32

They are welcome to have mine for 235p a share.

[maloneyt] 21/7/2016 10:29

LSE:PLND
OKSearch





Canada Life Ld Statement re. Announcement

21/07/2016 9:09am
UK Regulatory (RNS & others)

Poundland (LSE:PLND)
Intraday Stock Chart
Today : Thursday 21 July 2016

Click Here for more Poundland Charts.
TIDMPLND TIDMTTM

RNS Number : 8575E

Canada Life Ld

21 July 2016

Steinhoff Europe AG recommended cash offer for Poundland Group plc

On 13 July 2016, the boards of Steinhoff International Holdings N.V. and Poundland Group PLC ("Poundland") announced the terms of a recommended cash offer pursuant to which Steinhoff Europe AG ("SEAG") or a wholly owned subsidiary of SEAG (with the support of its ultimate parent company, Steinhoff International Holdings N.V., together "Steinhoff") would acquire the entire issued or to be issued share capital of Poundland not already directly or indirectly owned by it (the "Offer").

That announcement referred to an irrevocable undertaking entered into by Canada Life Investments in respect of a total of 4,075,404 Poundland shares representing approximately 1.5 per cent. of Poundland's issued share capital.

As announced on 14 July 2016, Canada Life Limited and Canada Life Asset Management Limited sold 3,139,552 Poundland shares on 13 July 2016. This sale was made in error and Canada Life Limited and Canada Life Asset Management Limited intend to remedy this error by purchasing shares in the market up to the level of its previously stated holding.

The Panel Executive has ruled that Canada Life Limited and Canada Life Asset Management Limited are not acting in concert with Steinhoff as a result of this proposed share purchase and therefore such dealings will carry no consequences under rules 6, 9 and 11 of the City Code on Takeovers and Mergers. Steinhoff, Poundland and their respective advisers (including Poundland's Rule 3 Adviser) have agreed to this ruling.

This information is provided by RNS

The company news service from the London Stock Exchange

END

[meijiman] 20/7/2016 14:22

It was one where the market (City opinion) felt there would be a higher or competing offer as the initial offer undervalued the company. So the share price sat at a modest premium and then out of the blue a couple of weeks later comes an RNS saying they had decided not to proceed. Couple of years ago now........
For what its worth I don't expect there to be any further action here. I decided to forgo the 2p divi just to expedite things and invest the dosh somewhere else.
I picked a nice one in Bovis Homes -pure luck as I know nothing about the company/sector.

[maloneyt] 20/7/2016 13:20

mm, was that bid agreed and then fell apart. Do you remember if there was a counter bidder, or was it something else. Thanks

[maloneyt] 20/7/2016 11:33

A few II have been increasing their holdings over the past days. what they are up to should unfold in the coming days.

[meijiman] 20/7/2016 11:18

Having been burned on a previous bid situation which fell apart I decided to sell here early doors at 220p. Feeling a bit foolish -but only a bit at bought in at 176p. Be interesting to see what happens......

[redartbmud] 20/7/2016 04:40

MaloneyT

Good luck to you too.
We each take a view on a situation, having considered the facts presented to us. Furthermore, we each come from a different position, with different objectives.
I am happy to get out at a profit, having made my initial purchase at around £3.24p from memory, then averaged down.
At least I have my capital and a small profit that I can put to use elsewhere instead of waiting for the next move over which I have no control or influence.

You may be correct in your thinking, but the Board is supporting the bid after a first refusal. That would suggest that Steinhoff has already upped the offer. It puts Steinhoff in a stronger bargaining position.
I hope that it doesn't turn messy.

red

[maloneyt] 18/7/2016 23:05

Best of luck red. I am going to wait a little longer to see what happens. I sold my first holding at 220p (clearly too early), then jumped back in at 224.5, when I read the news article that says that Stainhoff may have to increase their original offer. I would have thought by now Stainhoff would have declared their holding since the offer was made. I wonder if two or more of the institutions who are adding to their holdings, would get together and ask for an increased offer, if S/hoff cant get a majority holding?

[redartbmud] 18/7/2016 22:39

No idea, I am as puzzled as you are. My only thought is that they are trying to consolidate their position. Is it possible that one or more of the institutions is playing hard ball on the offer price, or that they are concerned about the guys who have been increasing their stake?
Either way, right or wrong, I have taken out my stake at £2.25, which is 3p above the current bid price. I will not have to wait for the due process to unfold. That appears to be some date in September when they pay the dividend.
I can move on to other things.

[maloneyt] 18/7/2016 19:52

seems to be few Notification of Major Interest in shares news out after the close. How come they are still accumulating shares at a higher price than the takeover price?

[redartbmud] 18/7/2016 08:39

Out at £2.2507 this am. If there is still bread on the table then good luck to the buyer. I have my capital back and my position crystallised.
I don't see a higher bid.

[beills] 15/7/2016 15:38

*ELLIOTT HOLDS 16.37% INTEREST IN POUNDLAND

[cabreado] 15/7/2016 09:18

Now you know who is buying. Best to stay put and see if there is a counter offer or increase offer. EA maybe possibly increasing their stake.

[maloneyt] 15/7/2016 08:56

Thanks tonysss13. Lets hope so. share price jumped to 229 this morning, but there were still buyers at this price

[clocktower] 14/7/2016 20:35

At least you know what your max losses could be MaloneyT.