Redde Northgate Share Discussion Threads

[largeronald] 30/9/2021 13:54

This has all the hallmarks of yet another company being walked down (in this case probably to around 300 - 320) before a buyout offer of around the 400 mark is made, along with a great fat incentive for the board to approve it.

[deanowls] 20/9/2021 09:49

What will be interesting is the value of the fleet. They are either getting a premium for selling them on our extra value from not getting newer vehicles through.

[fenners66] 20/9/2021 09:32

Significant for the whole business ?
Or significant to the mobility platform ?

I read it as the latter.
Therefore its just about how they diversify rather than a large impact on the whole business.

[purplepelmets] 20/9/2021 07:40

from the AGM statement "Since our last update on 7 July, the business has signed a number of new,
sizeable, multi-year contracts for services from our mobility platform which
will go live in mid calendar year 2022."

my question. Why do they not release RNS's after each big contract is signed? Surely these contracts are all significant and a regular drip of +ve RNS's might help to boost the share price and guarantee no PE does a hostile takeover at a unfairly low price.

[skinny] 20/9/2021 07:03

.




Continued strong momentum across the Group

Redde Northgate plc (LSE:REDD), the leading integrated mobility solutions
platform providing services across the vehicle lifecycle, will hold its Annual
General Meeting at 10.30am today at the offices of Bryan Cave Leighton Paisner
LLP, Governor's House, 5 Laurence Pountney Hill, London, EC4R 0BR.

At the meeting the following statement will be made:

Current Trading

Following the good momentum in the first two months of FY2022 announced on 7
July at our Preliminary Results, the business has continued to perform strongly
across all segments to date.

Since our last update on 7 July, the business has signed a number of new,
sizeable, multi-year contracts for services from our mobility platform which
will go live in mid calendar year 2022. These new contracts draw on products
and services from across the Group and underline the value of our unique and
unrivalled growing mobility solutions platform which we believe can be scaled
significantly.

This early, strong performance and the continued prospects for the Group are
very encouraging and the Board is confident in its strategy to generate further
value for all its stakeholders.

Dividend

Shareholders are being asked today to approve a final dividend of 12.0 pence
per share, which will be paid on 24 September 2021, to those shareholders on
the register at close of business on 3 September 2021. This dividend, if
approved, will result in a total ordinary dividend payable in respect of the
year ended 30 April 2021 of 15.4 pence per share.

Interim results

The Group's next scheduled trading update will be its interim results for the
six months ended 31 October 2021 in early December 2021.

For further information contact:

Buchanan

David Rydell/Jamie Hooper/Tilly Abraham [phone]
5000

Notes to Editors:

Redde Northgate is the leading integrated mobility solutions platform providing
services across the vehicle lifecycle. The Company offers integrated mobility
solutions to businesses, fleet operators, insurers, OEMs and other customers
across seven key areas: vehicle rental, vehicle data, accident management,
vehicle repairs, fleet management, service and maintenance, vehicle ancillary
services and vehicle sales.

The Company's core purpose is to keep its customers mobile, whether through
meeting their regular mobility needs or by servicing and supporting them when
unforeseen events occur. With its considerable scale and reach, Redde
Northgate's mission is to offer a market-leading customer proposition and drive
enhanced returns for shareholders by creating value through sustainable
compounding growth. The Group aims to achieve this through the delivery of its
strategic framework of Focus, Drive and Broaden.

Redde Northgate services its customers through a network and diversified fleet
of over 110,000 owned and leased vehicles, supporting over 600,000 managed
vehicles, with more than 170 workshop, body shop and rental locations across
the UK, Ireland and Spain and a specialist team of over 6,000 automotive
services professionals.

Further information regarding Redde Northgate plc can be found on the Company's
website:

www.reddenorthgate.com

[zho] 31/8/2021 10:25

Yes, 12p xd on Thursday.

[solrei] 31/8/2021 10:23

I think we are going ex dividend this week

[harris tweed] 31/8/2021 10:14

FWIW Vague rumours of a 'mystery buyer' looking to takeover REDD.

[wbodger] 03/8/2021 13:39

DontBuyAnyCar.com, lease it.

Interesting move by VW, moving to defend demand for their cars/vans. That seems to say EVs are always going to be too expensive for families to own, especially if government taxes distance travelled rather than fuel.

There should be money in rolling out EV servicing/charging infrastructure.

[purplepelmets] 03/8/2021 09:43

What could be an attractive aquisition for REDD?

[deanowls] 03/8/2021 09:36

Strategy is set at focus drive broaden, having delivered the majority of integration savings I’m guessing that they are now looking at the future of the broaden.

[flyfisher] 03/8/2021 09:03

The AGM voting form contains a section on ''authority to allot by form of a rights issue''.

Can we assume that the company is now set to become acquisitive?

[disc0dave45] 29/7/2021 12:33

Europcar profit margins are paper thin, 2019 was only 2% (PBT) on €3bn Rev. For 2020 they made a loss of €685m on €1.8bn Rev.By comparison, Redde rental profit margin FY20 and FY21 was 9.9% and 12.7% respectively.

[fenners66] 29/7/2021 10:06

Volkswagon agreed to buy Europcar , does that add a little impetus to the market here?

[fenners66] 26/7/2021 10:41

But its going up again....

[fenners66] 23/7/2021 10:54

Just had a scroll back through the volumes of trades recently.
Last Tuesday last week had higher than usual volume , but not enough to look like anyone building a stake
At the current rate it would take months to get any size...

[fenners66] 23/7/2021 10:47

Well done to the posters who talked about the rise in second hand vehicle prices last year.
Its now got to second hand cars as well and some were quoting 45% rises

[purplepelmets] 21/7/2021 08:39

Bid back on?

[fenners66] 14/7/2021 20:50

But was it just a well executed pump and dump ?

[paulypilot] 14/7/2021 19:43

Bids should be at least 30%premium.REDD is v cheap, fwd PER of about 12.Pay 550p or F Off, private equity.

[fenners66] 14/7/2021 10:14

With the efficiencies of the merger just getting started 475 is absolutely too low
A share price of 420 means only a 19% premium for 500
so I would anticipate something more like 540

[schofi2] 14/7/2021 10:02

Any offer would have to be well over 500p to be accepted by any major shareholder. IMHO.

[tonysss13] 14/7/2021 07:42

RARE ALERT: Redde Northgate said to ... - Part 2
Tuesday, 13 July 2021, 3:58 pm
TDR Capital is said to be the private equity firm that has been circling Redde Northgate, the London-listed vehicle management company.

People following the situation said that TDR Capital is rumoured to have approached Redde Northgate about buying the business for 475p a share.

However, it's believed the approach may have been rebuffed because the company and some of the group's shareholders won't accept less than 500p a share.

People following the situation said TDR Capital has been looking at combining Redde Northgate with BCA Marketplace, the owner of WeBuyAnyCar.com, the used car marketplace.

TDR bought WeBuyAnyCar.com for £1.9 billion in 2019 as part a deal to take the company private.

A spokespman for TDR declined to comment when contacted by Betaville.

To be clear this story is RARE. If you are unfamiliar with the RARE definition I have pasted it below:

[deanowls] 13/7/2021 16:43

There’s over 250 in assets here before you even get to the business, marry that with an end to end service and returning traffic and it’s worth we’ll over 6quid.