Share Name Share Symbol Market Type Share ISIN Share Description
Redde Northgate Plc LSE:REDD London Ordinary Share GB00B41H7391 ORD 50P
  Price Change % Change Share Price Shares Traded Last Trade
  -4.40 -2.3% 186.60 395,147 13:40:33
Bid Price Offer Price High Price Low Price Open Price
186.00 186.60 194.00 183.60 192.20
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 589.72 41.65 11.28 16.5 573
Last Trade Time Trade Type Trade Size Trade Price Currency
13:40:33 AT 323 186.60 GBX

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Date Time Title Posts
19/5/202007:35Redde plc - accident 'restoration' activities4,354
28/8/201612:13Is LGT the next REDD?9

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Redde Northgate Daily Update: Redde Northgate Plc is listed in the Support Services sector of the London Stock Exchange with ticker REDD. The last closing price for Redde Northgate was 191p.
Redde Northgate Plc has a 4 week average price of 161.60p and a 12 week average price of 108p.
The 1 year high share price is 368p while the 1 year low share price is currently 108p.
There are currently 306,868,351 shares in issue and the average daily traded volume is 383,373 shares. The market capitalisation of Redde Northgate Plc is £570,161,396.16.
largeronald: Share price over 50% down since this merger was announced, and that doesn't include the lost dividend. I hope the management team are congratulating themselves whilst spending their well-deserved hard earned bonuses this year.
aleman: No. Bobin37. 0.3669 of a NTG share that you will receive for each REDD share has a trading value of around 115p - so a touch higher than the current value of each REDD share that it will replace. That's IF the deal succeeds. It seems pretty unpopular with small REDD shareholders so could maybe get voted down. I'm hoping it will fail. The very latest news on Iran, weakening US auto sales, and touted retaliation from the EU if Trump imposes tariffs on French imports suggest a deteriorating economic background for NTG.
aleman: A very cyclical company buying one which is not very cyclical at the top of the cycle IS a sensible business decision for NTG holders - but NOT for REDD holders. It might be a merger but legally it's an all-share bid by NTG for REDD. The discount in REDD shares indicates scepticism. Historically, all share bids have a lower chance of success. Shareholders prefer cash and all the paper indicates lack of confidence or ability to raise any cash by the bidder. It smacks of desperation. I have cash available and was considering topping up in REDD before the bid news broke. Now I'm holding off. I don't want NTG shares at anywhere near their current price. I might still top up in REDD at these levels if the bid fails. In my view, the worrying NTG bid is depressing the REDD price. A few like yourself will arbitrage the difference. You might be successful - but I will be voting no.
aleman: What makes you confident it will go ahead when the share price reaction seems to suggest scepticism and shares pledged in support amount to an underwhelming 1.2% of REDDE and 0.05% of NTG?
prokartace: The thing i don't understand is why Redde is at a 10% discount to the combined share price 300p on Northgate implys 110p on Redde
aleman: IC review NTG results and move from BUY to HOLD. Says it all really. Those results might normally be worth a 10% price drop. Hire revenue growth is expected to weaken but the key is that a more subdued outlook usually means weaker resale values, and resale is where vehicle hire companies make most of their money after massive discounts on fleet sales purchases (Buy new at 40% off list price and sell in 12 months at 30% off list price). NTG looks to be at the top of its cycle, though lower fleet purchasing enhances cashflow (more sold and fewer bought) which will tend to push their debt back down again. NTG cashflow should be strong as earnings fall. I don't see it as a good merger for REDD shareholders, though. NTG shareholders will put their share price fall down to the merger news, as probably will some media commentary, but I think it would have happened on those results with no merger news. NTG is past it best in this economic cycle. Vote no to this opportunistic bid to get REDD on temporary weakness caused by an overreaction to one contract loss that has been compounded subsequently by Woodford woes. Https://
aleman: fizzypop - we get 0.3669 NTG shares for each REDD plus a dividend if they do it slowly but not if they do it quickly. It's madness. We're offered two prices. Which will we get? Plus there's whatever variation we get in NTG's share price - which is falling. Seems badly thought out - idiotic even.
gary1966: At current share price it values Reddes shares at around 128p.
trickyricky: 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?
bc4: MIDAS SPECIAL: Are there any companies worth backing from the Woodford wreckage? Redde makes life easier for motorists when they are involved in road accidents. Woodford probably thought the firm would make life easier for him too. REDDE The group has contracts with several large insurers and dealerships so, when customers ring up to say they have had an accident, they will be referred straight to Redde Woodford probably thought the firm would make life easier for him too The business has a fleet of more than 10,000 cars and prides itself on top-notch service, providing replacement vehicles from standard hatchbacks to luxury convertibles to ice-cream vans. Redde also works with a network of garages to ensure that repairs are completed quickly and efficiently and it manages claims for insurance firms. Ward works with big companies too, handling damaged fleet cars or vans. And there is a legal division, that covers motor injuries, employer liability and negligence claims. This division works on behalf of insurers but it has some large public-sector customers too, such as the Royal College of Nursing and the British Medical Association Ward did not just put the business back on its feet, he changed the dividend policy so that virtually all the profits are paid out as dividends. In the year to 30 June, Redde paid a dividend of 11.65p, putting the stock on a yield of more than 10 per cent. In most cases, such a high yield rings alarm bells with canny investors but Redde is slightly different because the generous payments are part of a deliberate policy and the board is committed to making sure that there is sufficient cash left in the business for its needs. Redde had a difficult time earlier this year, when it lost a contract with a large insurer and the stock halved from £1.80 to 90p. Other contracts have been won since but these have not been fully reflected in the share price. This presents an opportunity for investors. MIDAS VERDICT: Redde is linked to the Latin word restoration, helping drivers to get back to normal. With the stock at £1.14, the word is relevant to investors as well. Redde is a strong business with an attractive dividend and the shares should move higher. The Woodford stake is large but big investors have been expressing an interest in the stock so the holding should be sold off relatively smoothly This is a very good summing up about REDDE and its business
Redde Northgate share price data is direct from the London Stock Exchange
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