Raymarine Share Discussion Threads

[aspers] 14/5/2010 15:25

Because they will all be sacked rightly so by the new owners!!

[kab6] 14/5/2010 15:24

they are not taking it because they want to protect their own positions, or that of its employees. Garmin would not require duplicate sales and sourcing operations so there would be job cuts due to synergies.

[envirovision] 14/5/2010 15:11

offering something stupid like 1p ....

Daytrader well assuming the other 5p bidder is still hanging around then them, so maybe Garmin will offer 6p in admin.

Who knows, do let me know what you get in the end, if its anywhere near or above 15p then it will be amazing.

[daytraders] 14/5/2010 14:58

goal - ok cheers, if we go into administration whats stopping garmin or another bidder just offering something stupid like 1p for the company and paying all the debt off, this happens all the time, as the administrators job is just to pay the banks/creditors usually off, they get paid either way.

[goalmachine2] 14/5/2010 14:43

Daytraders, yes a competitor but we will prob never know there name!

[daytraders] 14/5/2010 14:27

wonder where the original offer of 17.5p came from, a garmin competitor ?

[daytraders] 14/5/2010 14:12

garmin should go straight to the administrators if that does happen, they will rip there arm off for a 17.5P+ offer.

[debbiegee] 14/5/2010 13:45

TA,hope they get any verbal deal in writing they did state that they had recieved a letter.
Ho hum !

[goalmachine2] 14/5/2010 13:42

debbiegee, I cant see an RNS today. It will be after the close advising that a deal has been done.

[kab6] 14/5/2010 13:40

surely the large shareholders should get together and instruct the board to accept Garmin.

i might just email them all.

[debbiegee] 14/5/2010 13:39

Whats the chances of them coming back to us today ?

[kab6] 14/5/2010 13:24

thanks boffster, quite right per share

has anyone ever thought that RAY board are overstating the worst scenario - debts and sales and all that as they do not want a bank to bankroll them so that can manipulate who the company ends up with. seems like the most likely scenario in my mind.

i.e. i think with their sales they could easily get a finance package. I would love to be the administrator - easiest job in the world. Sell to Garmin and settle debt, then equity. Job done easy.

typing this is making me mad as i am not aware of how the board could be charged. I don't think they can be accused of breaking any law.

[boffster] 14/5/2010 13:14

kab6, hopefully per share, not per shareholder!! :o)

[kab6] 14/5/2010 13:09

wskill

i think the blame clearly lies with the BOD and not the banks. shouldn't have overleveraged.

[boffster] 14/5/2010 13:09

Well they do say a bank will lend you an umbrella when the sun is shining, but want it back when it rains!

[kab6] 14/5/2010 12:57

got more well cheap.

sc ... wrong again... humble pie and all that

basically, the each share is now worth more that 17.5p to shareholders. Garmin has the cash!!

[boffster] 14/5/2010 12:26

Also worth noting that just because a company has breached its covenants, its not a given that the lenders will choose to call in the loan, just that they can.

[boffster] 14/5/2010 12:21

and which would
ultimately allow a return to Raymarine shareholders of in excess of 17.5 pence
per share.

[debbiegee] 14/5/2010 12:11

envirovision,
Surely that is why the 2nd rns says they have it in writing ?
If they draw up a contract before it goes to administration of the price they would pay ?
If that could be done without getting shareholder approval but then agaain if its going into administration shareholders have no say inthe matter ?

[officerdigby] 14/5/2010 12:09

Guys the pre pack is the other lot!

Garmin are on the outside.