Quarto Share Discussion Threads

[drw1] 03/11/2003 09:32

Misvaluation being corrected quite quickly now thanks to I.C. AND I guess the realisation among investors that the day of reckoning is fast approaching.

[willowdog] 01/11/2003 15:17

Still waiting for my copy of IC guess its lost in the post.200p has been my view all along see earlier post.I think the risks with this are minimal especially given the recent upbeat trading statement.

[penpont] 01/11/2003 11:53

Have just read excellent full page article on Quarto in this weeks IC - probably accounts for some of yesterdays rise. Author concurs with 200p take out price.

[drw1] 31/10/2003 12:03

Indeed!Enjoy if your a patient holder like myself,they say value always outs in the end!

[mjcrockett] 31/10/2003 11:56

drw1,

This is not nice and steady any more. The stock is move up very quickly up 9.5% so far this morning. I suspect news may be here sooner.

MJ

[drw1] 31/10/2003 11:54

Maybe that announcements coming sooner than I thought!

[drw1] 31/10/2003 11:25

Drifting up nice and steadily,could be an annoucement regarding the third party interest within weeks.

[drw1] 30/10/2003 10:00

Annother Institution increasing its holding,continues to bode well for an interesting end game.

[drw1] 23/10/2003 09:50

Good trading makes it all the more likely a bidder will pay a fair price.Holding for 200p.

[shamster] 15/10/2003 17:19

200p will do me

[willowdog] 15/10/2003 17:02

200p to a trade buyer.A steal at anything less.The market has failed to realise the recent progress this company has made,on target for 20p eps.

[shamster] 15/10/2003 16:17

Gentle nudging by Hambros seems to have stirred QRT into action - a bidder, you say? What's it worth?

[willowdog] 15/10/2003 15:46

Looks like we might have a bidder here.Patience will reward,value will out in the end.

[shamster] 17/9/2003 20:33

Blimey! Someone bought 10000 QRT shares - falling asleep on this one ....... Zzzzzzzz

[drw1] 12/8/2003 09:23

On reading the interim results seemed to me the Board hinted at perhaps a higher offer materialising.The fact that acceptance of the tender is irrevocable in the event of a higher offer was alluded to more than once.With trading in line and divedend raised worth holding in my view.

[drw1] 08/8/2003 17:56

Interesting to see Herald Investment Trust increase its holding.I note todays Investors Chronicle indicate a fair value for QRT of around £2.00.May add a few myself with the downside looking so limited and some major upside possible.

[drw1] 03/8/2003 15:59

From reading the document this appears to be the case.Await developments in my view.

[shamster] 31/7/2003 09:42

Whisper was right - but if I understand it right, it's a tender offer designed to flush out a bidder at a better price, not an outright bid in itself??

Any views?

[shamster] 18/7/2003 11:55

Who is the bidder - any ideas? I heard a whisper of Hambros from someone who works for Quarto but I imagine there is a lot of speculation within the company

[mathisvale] 18/7/2003 00:32

I think that the potential bidder has perfect timing because :-

1. QRT is relatively cheap
2. Cash flow is good (£8m) and likely to get better
3. Profits are £5m and likely to get better
4. Net debt is relatively large at £20m, but future profits and cash flow will reduce this substantially over the next couple of years.
5. Lots of intangible goodies to collect.

In essence, the company is, and has been cheap for a long time, but the problems that have made it cheap will be diminished sharply over the next two years - ergo buy it now.

[cb7] 14/7/2003 18:41

mj... the preconditions are from the bidder, not from the board.
I know that the co has a valuable backlist, but dont forget that net debt is 20m. This has held back the shareprice, the post announcement rise and will keep down the possible bid price. The directors have large holdings, so their approval will be paramount, (unless one of them is in bed with the bidder, which I doubt). They could simply refuse and ask too much, so I hope their dialogue is constructive and they give us the chance to say yes or no. I prefer jam today, not tomorrow!

[drw1] 10/7/2003 09:02

Fair value has to be well in excess of the current price.10 times earning would be in line with some other publishers and give a price north of £2.00.Quarto would be an earning enhancing aquisition for most other publishers even at £2.00 per share.The market has undervalued this company for years and I FOR ONE as a shareholder do not want to see it given away.

[mjcrockett] 09/7/2003 18:49

It is surprising that the share price has only risen a little after the announcement this afternoon. The company claims (see last results) that a lot of its intangible assets are not on the balance sheet. Hence the share price significantly under-values the company. Therefore, you would expect that an offer will need to be way above the current price to have any chance of being recommended by the board. Perhaps this is one of the significant pre-conditions that they refer to.

MJ

[vs] 09/7/2003 15:20

RNS Number:3635N
Quarto Group Inc
09 July 2003

THE QUARTO GROUP, INC

Comment on recent press speculation

The Board of Quarto, the London based and listed international book publisher,
has noted the recent press speculation, and movement in the Company's share
price.

The Board states that, in conjunction with its advisors, it is considering an
approach made to it which, subject to certain significant preconditions, might
lead to an offer being made for the Company.