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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Renewi Plc | LSE:RWI | London | Ordinary Share | GB00BNR4T868 | ORD GBP1.00 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
9.00 | 1.60% | 573.00 | 572.00 | 575.00 | 576.00 | 558.00 | 568.00 | 38,001 | 15:58:13 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Date | Subject | Author | Discuss |
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21/3/2024 11:56 | Translated from Dutch article- (ABM FN-Dow Jones) Renewi still has three months to sell the British branch and the market is awaiting the outcome with curiosity.Management has repeatedly indicated that it will sell the British activities in the first half of 2024, so there are still three months left, analyst Joren Van Aken of Degroof Petercam told ABM Financial News. "I expect some movement with this sale. This business has been depressing margins and returns on investments for years. The sale will therefore visually increase margins from next year," Van Aken thinks.Renewi will present its annual figures on May 30. The company may use this moment to also announce the sale.Van Aken thinks that many investors are now tired of waiting. "They want to see effective results."The problems at waste processor ATM in Moerdijk in particular deserve a solution, the market expert believes. Hazardous waste is processed here by Renewi.Van Aken thinks Renewi is "hugely undervalued", but the analyst acknowledges that changes are needed to achieve this value. Degroof Petercam has a buy recommendation on the share with a price target of 10.90 euros.At the end of last year, Renewi's share price revived after it became known that Macquarie Asset Management was interested in an acquisition of Renewi. The company found the offers, initially £7.75 per share and later £8.10 per share, too low. Renewi did not even want to enter into discussions with Macquarie based on these bids.On Thursday morning, Renewi shares were 0.5 percent lower at 6.44 euros. | dplewis1 | |
12/3/2024 15:10 | So what's next? George Osborne for CFO? I'm sure he'd like some extra side cash | george stobart | |
12/3/2024 10:15 | Renewi welcomes Bruno Bruins as Chief Strategy Officer, a former Dutch MP and Govt Minister. So we are adding a Dutch politician on the payroll (most likely at 200k+ EUR p.a. judging from the current executive pay) for lobbying efforts in Brussels. RWI could use the same money to hire Rothchilds or Lazard for a strategic review and to invite takeover bids instead of wasting money on former politicians | george stobart | |
10/3/2024 11:12 | Answer from the Takeover Panel. In the event that the Potential bidder makes a "no intention to bid" announcement. Potential bidder cannot make an offer for target within six months (except in certain circumstances). xxxxxxxxxxxxxxxxxxxx 26 October 2023 Macquarie Asset Management - on or behalf of one or more of its managed funds - ("Macquarie") Statement of Intention Not to Make an Offer for Renewi Plc ("Renewi") Further to the announcements made by Macquarie and Renewi regarding a possible offer for Renewi, Macquarie confirms that, following multiple attempts to engage with Renewi's Board, including a revised proposal, all of which were rejected, it does not feel it is in an informed position to make an offer for Renewi. Accordingly, Macquarie is bound by the restrictions under Rule 2.8 of the Code. For this reason, Macquarie will also not make a request to the Dutch Authority for the Financial Markets ( Stichting Autoriteit Financiƫle Markten ) (the " AFM ") to approve an offer document related to an offer for Renewi. Macquarie reserves the right to set the restrictions in Rule 2.8 of the Code aside in the following circumstances: (i) with the agreement of the Board of Renewi; (ii) if a third party announces a firm intention to make an offer for Renewi; (iii) if Renewi announces a Rule 9 waiver proposal (see Note 1 on the Notes on Dispensations from Rule 9 of the Code) or a reverse takeover (as defined in the Code); and/or (iv) if there has been a material change of circumstances (as determined by the Takeover Panel). | gregsc | |
08/3/2024 16:18 | Hi Greg. That's my understanding too. 6 months. So hopefully not long to wait now until the bid arrives again. With hopefully a Chairman in place that knows that shareholders own the Company, and respects their right to be consulted. And hopefully hostile if the snout in troughs don't open the books. | outsizeclothes.com | |
07/3/2024 14:17 | thank you George, but to get back to the question- under the takeover code when can they come back. I thought it was 6 months but what do I know. | gregsc | |
07/3/2024 12:42 | Anyone know when this Australian bank can come back with another bid? That's assuming they want to. | gregsc | |
04/3/2024 19:37 | If Ben Verwaayen, Otto et al try and reject any other bid above £8 without engaging or opening the books for Due Diligence (or try and hide it from shareholders as The Times implied) the boot is coming fast this July | george stobbart | |
28/2/2024 12:18 | I would hope that MacQuarie would not make the same mistake again, and would go hostile this time, rather than try to win over this snout in trough crowd. | outsizeclothes.com | |
28/2/2024 10:28 | I agree Outsize. When the management rejected outright the Macq approach did they really not foresee any stress in their business just 3 months later. I feel they have been disingenuous with shareholders and have lost credibility. The sad fact is that if any approach is made in the future, even if a low-ball bid, it would probably be met with support by the majority of shareholders to rid us of the stress of owning such a company. | sausage7 | |
20/2/2024 15:06 | I'll be showing my feelings with as many "against" votes as I can place to motions at the AGM. | outsizeclothes.com | |
07/2/2024 22:53 | Ben Verwaayen has been appointed Renewi Chairman nearly 4 years ago (Apr-2020). He hasn't bought even £1 of RWI shares ever since and is sitting nicely on a £200k fixed salary with no variable 'at risk' incentives whilst Otto has significant skin in the game. In the 2023 AGM, Verwaayen was voted Against his re-election by c. 20% of valid ballots. He opposed all Macquarie bids and keeps grabbing fixed £200k p.a. (unprecedented number for a UK small cap NED Chair) while RWI shares are falling towards 5 quid. I predict that during the 2024 AGM in July this 20% will increase significantly and Verwaayen will most likely get the boot. | mr george stobbart | |
30/1/2024 22:33 | People don't make their way up corporate ladders by having soft elbows; their primary motivation is self-reward, which we all seek but have different thresholds of acceptance of collateral damage. Not a sphere of industry where the thoughtful succeed I suspect... Oddly the TU is not showing up on the RNS HERE. | wad collector | |
30/1/2024 12:15 | Otto and Co. really have shown themselves up to be greedy, aloof, arrogant, disregarding of the shareholder OWNERS of the Company, and totally self-serving. The only reason I think that this hasn't tanked is that people will know that MacQuarrie can come again in a few months, and that if they go hostile Otto and Co. haven't got a hope of making a credible defence after this. Regardless of Theo's misgivings, I say "bring on the bid" and at £9 they can have all mine. I'd take £8.50 now rather than trust "keep bid offers secret, as it might pull my snout out of the trough" Otto. | outsizeclothes.com | |
30/1/2024 10:24 | This used to dip 10% or so in similar situations in the past and most long term holders will recall. Getting a bounce and got bought with both fists below 6 quid. I was expecting worse Probably market is suspicious takeover still not completely off the table | george stobbart | |
30/1/2024 07:47 | profit warning - make the bid rejections even more painful for shareholders | pugugly | |
30/1/2024 07:09 | Ok so more of the same. Will they give us an answer why they never made public the 900p takeover bid? And what was the reason again they rejected the 810p one? | george stobbart | |
21/12/2023 11:16 | Hi Theo. Why disastrous ? In what exact ways ? From my point of view I'm a shareholder looking for the maximum return on my investment. Although I like to consider myself "green[er]" I'm not so wrapped up in environmental issues that I will forego profits on my investments. Nor would I delay making good returns on investment by maybe several years if I can avoid doing so. | outsizeclothes.com | |
21/12/2023 05:29 | I am afraid that The board foresaw what these macquarrie investors would be capable and likely to do to Renewi. A death house construction. Ultimately I am glad Renewi didn't take the bait. You should wonder why they made the bid in the first place. All you have done is given the board smack because they didn't fall for that bid. I'm confident it would have been disastrous if they did. | theolonghair | |
19/12/2023 18:15 | Serious questions need to be asked. At "up to 900p" the Board rejected a 50% over then shareprice premium out of hand without consulting shareholders ? Either Otto and Co. are aloof, ignorant and dismissive of shareholders, or just greedy for what's in it for them (wages and perks), or they really think they can get us to over that level in at least the Medium [Jan. 2026 at latest) term. Based on the "ifs and buts" in the bid rejection/Capital Markets Day, they would need to hit every target they set WITHOUT further share dilution. A very tall order. But Otto and Co. now need to deliver big time. | outsizeclothes.com | |
19/12/2023 11:24 | part of Sunday Times article. Shareholders in Renewi, the Milton Keynes-based rubbish and recycling group once known as Shanks, are demanding answers after the board rejected a £720 million takeover bid from Australian infrastructure investor Macquarie without first consulting them. Macquarie, it has emerged, made an approach of up to 900p a share earlier this year, but it was rejected by the Renewi board. The company did not tell its shareholders of the potential offer. Macquarie subsequently went public with a lower bid of 775p in October, equivalent to £636 million. This, and a slightly higher subsequent offer, were also rejected by the company. | gregsc | |
18/12/2023 12:51 | Renewi's inclusion from today in the ASCX index on the Amsterdam exchange probably accounts for the price rise. There was also an article in yesterday's Sunday Times which seemed to suggest that Renewi had received an approach at 900p earlier this year, but never disclosed it to shareholders. The article was behind the paywall, so I didn't get to read it, just saw the headline. Does anyone have access to it? Is it connected to Macquarie? | horseyphil |
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