Qinetiq Share Discussion Threads

[simongn] 22/1/2007 18:15

I was wondering the same, not seen anything reported. Not such a good day today, couldn't resist buying a few more (£100k) though.

[mw] 22/1/2007 18:08

Did anyone attend, if so what was said?
Any news about possible hiving-off of commercial technology interests?

[hawks11] 22/1/2007 16:25

QQ have agreed acquire US high-tech services provider Analex Corp for $173m in cash.
The holders of 58.8% of the Virginia-based firm provides its services and solutions mainly to US government.

[hawks11] 22/1/2007 08:57

QQ splash out again.

[via con] 22/1/2007 08:02

"A teleconference for analysts and investors will be hosted by Graham Love,
QinetiQ's chief executive officer and Doug Webb, chief financial officer, at 9:
30am on Monday 22nd January 2007. Please call [phone] to attend,
quoting 'QinetiQ' as the password."

From today´s notification

[mw] 20/1/2007 20:08

Interesting.
Looks like Analex ticks all the right boxes and dovetails very well with QQ's interests and capabilities.
Fast growing business.
Should be revenue enhancing from day one - probably of the same order as the DTR contract.
Hope it goes through OK.
QQ website appears to be down though.

[simongn] 20/1/2007 11:59

"Acquisition of Analex Corporation for US$173m"

"QinetiQ Group plc announces today that it has signed a definitive merger agreement to acquire Analex Corporation ("Analex")"

"Analex provides QinetiQ with new customers and contract opportunities as well as broadening the range of service offerings to the existing customer base of the Group. Principal customers include the US Missile Defense Agency (MDA), US Army, US Navy, DARPA, and NASA. Analex is also well positioned with intelligence customers some of which it has worked with for more than 20 years. "

Full article here:

[simongn] 20/1/2007 11:53

Indeed, I was watching the Level 2 data and there was a gentle consistent push upwards, with a slight hicup at the end which meant it didn't quite close at its highest point. Bearing in mind the rest of the market I think QQ did very well yesterday.

[aphrodites] 20/1/2007 11:45

SimonGn

It all sounds like "all sour grapes" to me and very similar to experiences a compnay of which I am a director has had recently when applying for planning approval for two large building developments.

You would be surprised at the number of objections that are made by other bodies that have had their applications refused on land several miles away and think we should be treated in the same way.

Looks like 220p is on the way next week.

If there is an interested bidder out there looking at the company they have really missed the boat. A lot of the loose stock is now out of the way and the price could accelerate from here.

[simongn] 19/1/2007 22:24

It depends on when the official date was for the tenderers (Matrix & MC3) to be informed.

[wad collector] 19/1/2007 18:56

But does that not mean that they have another 7 days before they have timed out on the injunction?

[simongn] 19/1/2007 14:42

Perhaps you should do a bit of reading about EU procurement laws. If MC3 had cause for complaint they have 10 days after the announcement to lodge an injunction to prevent the contract being awarded. They can also get access to all the relevant data from the tender evaluation under the FOI (Freedom of Infomation act). If MC3 had a gripe you would have heard by now, they are the only ones that may have legitimate reasons for complaint, everything else is just hot air and sour grapes.

[wad collector] 19/1/2007 14:09

Thanks for that , mind you it is hardly surprising that the Defence Minister and the Defence Secretary are saying it was fair! "Fair Cop, it was an inside job; we want Welsh votes" would be more of a surprise.
Looks done and dusted either way .

[via con] 19/1/2007 08:55

FWIW below is the URL for above article

[carer] 18/1/2007 19:46

there is an article in telegraph saying the contract was won by QQ fair and square.

[aphrodites] 18/1/2007 18:11

As I said the other day this share is due a re-rating and a buy recommendation was in the pipe-line.

Only fools rush in to buy on an announcement.

Once the price settles the institutions will be back nibbling every day. I hear some have today.

And if the MM's get wind of big demand they will take-out all the stock and drag the price up even more quickly. Is that what ML was doing today? That's what they get paid the big bucks for!

I am sure we will see 220p in the next two weeks if the market behaves itself.

I am no longer a seller at 215p. It tested that level and came back.

The next time we will be through that and on upwards.

[via con] 18/1/2007 15:33

Merrill reiterates buy on QQ

[hollerich1] 18/1/2007 09:48

the GOV will sell if the income on there stake more than double, though they might not sell all but may reduce stake very significantly, i believe we shall recieve a takeover bid soon for QQ.

[wad collector] 18/1/2007 09:11

The "Conflict of interest " arguement is pretty specious as the State has an interest in every company ; if only because of taxation and employment.It is clearly a straw being grasped .

[ccnp] 18/1/2007 09:10

Thanks for that MW. I'm not an expert either but I researched this little quote and remember the battle over ESI golden shares. More recently (2002);

......The Court of Justice points out, first, that the EC Treaty prohibits all restrictions on the movement of capital between Member States and between Member States and third countries, and that the Council's directive of 1988 for the implementation of the free movement of capital is designed to define investments in the form of participations constituting movements of capital which are compatible with the provisions of the Treaty.......

The sale statement is incompatible with prevaling law. EU law is superior to UK law thanks to TB. Sure the UK will try to hind behind the National Security argumnent but Brussels has already hosed that one as well. It's just legal spin

The MOD stake will be worth £1bn with full privatisation and a takeover and he needs every bn.

Agreed, Green taxes offer scope but who can/will pay? You can only squeeze so much blood from each body and GB has already raised the take to close on 50% of what you earn by stealth.

[cliveb] 18/1/2007 07:39

Kundalini
Take a hike
You are not needed or wanted here or on all the other bulletin boards to which you have posted the same message

[mw] 18/1/2007 07:38

ccnp

extract from "risks relating to the ordinary shares" from prospectus.
Quote:

The MOD also holds and will continue to hold a ''Special Share'' which, together with the Principal Agreement, provides it with certain rights, associated with the protection of the defence and security interests of the United Kingdom arising from the ongoing commercial relationship between the UK Government and QinetiQ. The Special Share entitles the MOD to require certain persons who hold (together with any person acting in concert with them) a material interest in QinetiQ to dispose of some or all of their Ordinary Shares. For these purposes, a ''material interest'' means an interest in: (i) 3 per cent. or more of QinetiQ's issued Ordinary Shares wherethe relevant interest would, in the MOD's opinion, be contrary to the defence or security interests of theUnited Kingdom; or (ii) 10 per cent. or more of QinetiQ's issued Ordinary Shares where the relevantinterest gives rise, in the opinion of the MOD, to a material conflict of interest in certain limited circumstances.

and so on - End of quote.

Of course, they may only pay lip service to this when push comes to shove.
And I may be wrong in taking this out of context - as I'm far from being an expert in these things.

As for Gov't desperate for money - much more scope through new green taxes I'd have thought. Also other potential privatisations on treasuries list of possibles.

MoD residual holding was 23.7% immediately after float. I suppose that's worth £300-350M at a guess. Small potatoes.

[Abuse team] 18/1/2007 01:48

Post removed by ADVFN

[ccnp] 17/1/2007 22:54

The govt has the same rights as any ordinary shareholder. The prospectus said nothing about retaining a veto on contracts or future ownership of shares in the event QQ was fully privatised. There is already case law in existence on moch of this dating back to the 80s and the so called Golden Share in those privatisations.

It will be fully privatised because GB is desparate for money in the face of falling income tax receipts as Poles drive down wage costs, falling north sea oil revenues as the wells run dry - despite galloping oil prices due to middle east instability, falling vat receipts from retail spending, rising unemployment spending and the down grading of UK PLC debt to junk bond status leading to higher interest rates and round we go again.