Redde Northgate Share Discussion Threads

[toffeeman] 29/11/2019 07:19

In theory, if it's a merger of equals - absolutely no effect whatsoever. I can't see a big back office saving.

[trickyricky] 29/11/2019 07:16

Hmm, not sure what to make of this. NTG have too much debt for my liking?What impact will this announcement have on the REDD share price?

[skinny] 29/11/2019 07:05

RECOMMENDED ALL-SHARE MERGER. RECOMMENDED ALL-SHARE MERGER of NORTHGATE PLC and REDDE PLC Summary · The Boards of Northgate plc ("Northgate") and Redde plc ("Redde") are pleased to announce that they have reached agreement on the terms of a recommended share-for-share merger of Northgate and Redde (the "Merger"). It is intended that the Merger will be implemented by means of a Court-sanctioned scheme of arrangement of Redde and the Redde Shareholders under Part 26 of the Companies Act, with the entire issued and to be issued share capital of Redde being acquired by Northgate. · The merged entity, to be called "Redde Northgate plc", will be a leading integrated mobility solutions platform with the scale, reach and resources to provide customers with a comprehensive suite of mobility services and the potential to deliver substantial benefits to shareholders, customers, employees and other stakeholders. · The Boards of Northgate and Redde believe that the Merger has compelling strategic logic and represents an attractive opportunity for both Northgate and Redde to enhance their proposition in the vehicle life-cycle and to deliver synergies, customer benefits and shareholder value. The Merger · Under the terms of the Merger, each Redde Shareholder will be entitled to receive: 0.3669 New Northgate Shares for each Redde Share · Immediately following Completion, Northgate Shareholders will own approximately 54 per cent. and Redde Shareholders will own approximately 46 per cent. of the share capital of the Combined Group (based on the fully diluted ordinary issued share capital of Northgate and the fully diluted share capital of Redde, in each case as at the date of this announcement).

[toffeeman] 29/11/2019 07:04

Bloody el! where did that come from!?

[skinny] 28/11/2019 16:04

Invesco Ltd. 23.62%-----> 18.77%.

[anothercoffee] 28/11/2019 14:52

That's a large opening position. Very encouraging.

[skinny] 28/11/2019 12:36

Lombard Odier Asset Management @9.58% I assume this is a new position as there is no previous notification (unless they held less than 3%) ?

[sphere25] 28/11/2019 09:57

Interesting little move higher this morning. It's trying to move higher folks. Just have to wait and see if all the lines of stock have now been placed at 105.

[miti 1000] 27/11/2019 10:54

Likely that link(Woodford's stake ) have dumped their holding today.

[bc4] 27/11/2019 10:14

Also there will be a end of year trading update in just under 3 weeks,46 million shares traded is over 15% of REDDE

[cariley] 27/11/2019 10:00

We have seen this level of volume in the past and yet it subsequently transpired that neither Woodford nor Invesco had sold a single share at that time. In saying that, I may top up a little today.

[alamaison5] 27/11/2019 09:48

REDD: My guess is that one of them, Invesceco or LINK, is done. They had respectively between 23% and 18%+ shares remaining in their portfolio on the 20th of Nov. Half of that has been traded today. Not rocket science, is it?

[sphere25] 27/11/2019 09:22

Volume is climbing - up to near 40m now, but nowhere near enough yet. Ex Woodford and Invesco stock was near enough 130m at the last count Getting interesting now though...volume keeps climbing as I type. Had to edit that volume figure a few times :-D Nibbled a few more. It's enough volume now to suggest a significant clearing of the overhangs here. As per the post above, hard to say how many Invesco want to lob, but with such a clearing and demand for stock, once the lines of stock have been placed, it will be very hard to buy and the stock will spike higher rapidly so best to acquire now and sit on them rather than chasing them like a lemon

[sphere25] 25/11/2019 13:48

We clearly can't say Invesco completely want out here, but looking at their current actions in other companies where they have held a significant percentage of the company, they have been materially reducing the positions. Some recent examples: BREE cut from 20.81% down to 13.1% (and looking like they are still selling) MERC cut from 29% to 19.5% SMTP cut from 25% to 7.7% AMGO - pretty much the whole 10% position lobbed If you look at the recent exchanges in ALM and CIR, I'll be surprised if Invesco don't issue holding rns shortly to confirm significant stake cutting there too. Ultimately, perhaps the whole stake doesn't get lobbed, but in light of recent actions, I'd say they are looking to cut significantly here too. Andddddddd thus, the drip drip will continue with Invesco and Link continuing to feed any buyers in the market down at these levels, unless they decide to take more of a haircut and just place the lot at an agreed price...maybe that lovely round figure that everyone likes at £1? 27/11/2019 UPDATE Some decent chunks being placed this morning with notable blocks of 7.9m and 3.5m being placed at 105. That's only a small amount of the holdings of the sellers so hopefully get much more significant volume placed today and in the coming weeks.

[bc4] 22/11/2019 14:20

Have these turned

[bc4] 22/11/2019 12:33

Some people do not want to know anything ,They are sad trolls

[zangdook] 21/11/2019 16:06

Do we know that Invesco want to sell the lot? They're not liquidating their fund, just meeting some redemptions.

[sphere25] 20/11/2019 14:05

It's official then. The Woodford position hadn't been sold down at all. First chunk sold in a while, which means there is a significant double drip now with both Link and Invesco to clear out. So on it goes: Drip...drip...drip...

[rogthepodge] 20/11/2019 13:52

Which is Woodford's holding? Price should recover once this drop selling stops?

[approach3] 18/11/2019 13:12

Who is today's seller ?

[ltcm1] 18/11/2019 11:26

Interesting. What is your bear case based on protrader???

[ltcm1] 14/11/2019 11:06

Anyone know if Tom is bullish or not on this stock???