Renishaw Share Discussion Threads

[shallow pockets] 07/7/2021 11:46

Pugugly - you are probably better off watching the football tonight than picking stocks. We don't pick stocks because of their flag. We pick them to make money. Renishaw should and could be making more money for their shareholders but have employed too many people, have too high a cost ratio and continue to lose money in non core assets.

[shallow pockets] 07/7/2021 10:46

Not an employee. Just observant and analytical. It's called divestment of non core assets, not an "asset strip". Take a look at the senior management below Deer and McMurtry. It's threadbare in talent and experience and probably now wholly disillusioned at their career prospects of ever being able to properly run the business, which could be making significantly more net revenue. Today's bounce may represent a last chance to get out.

[9degrees] 07/7/2021 10:35

shallowmpockets . it sounds like you are an employee? if not how do you know theses things?. In my mind much better to keep it as a successful british co doing what it is good at and not asset strip

[shallow pockets] 07/7/2021 10:26

It's as bad as it is and no PR spin can change this. We now have the old owners still in place with the powerless younger management team unable to do what is necessary and with little control to do their job. Shedding non core assets and focusing on core businesses is something that has been necessary for several years. Deer is unwell. Mcmurtry is tired. Now we have stagnation. It's as bad as it appears.

[scepticalinvestor] 07/7/2021 10:10

Somewhat disappointed with the FSP outcome but the TU extremely positive.

[chillpill] 07/7/2021 07:38

Good to see a Great British company stay independent.
UK shareholders have been way too short sighted over the last 30 years.

[pugugly] 07/7/2021 07:35

"unanimously concluded that none would meet the Board's objectives of delivering an outcome that satisfactorily met the interests of all stakeholders."

As I had expected - as previouly posted - - Deer & McMurtry were not too concerned about the price - offers (imo) may well have been above market but the key is in the above quoted words - Interpretation - No assets stripers - No US/Chinese takeaways -
Very honerable men -

[scepticalinvestor] 07/7/2021 07:07

Well there you have it

[scepticalinvestor] 06/7/2021 07:57

Should be a trading update mid July. Perhaps with some further news

[shallow pockets] 05/7/2021 21:04

Who is going to buy with so much uncertainty about future ownership? Specs who bought the key men share sale continue to get squeezed. This is headed to 4600. Are Board and management strong enough to get backed by PE? We hear not. It's been run like a privately owned company for too long by McMurtry. Deer isn't well. Next layer of management appears weak. This may not end well.

[shallow pockets] 04/7/2021 08:38

The most likely buyers are the initial bidders. That phase has now passed. Deer and McMurtry were always going to ask too much for what they still view to be "their company". Its personal. It may be time to break it up - sell divisions separately, and the sum of the parts may exceed the whole, allowing management to buy the unsold parts.

[linhur] 03/7/2021 07:39

Annual results due July/August.
Could get an indication of state of play

[highlands] 30/6/2021 19:27

Looks like they will have to sell this at a discount and can't be too picky about the buyers.

[highlands] 28/6/2021 19:25

Would be nice to get some sort of update from management. Poor communications.

[b0risj0hns0n] 27/6/2021 18:11

Beggars belief how long this is taking. DO you think they take this long to sell a product??

[arja] 27/6/2021 14:43

but chart shows clear downtrend and might be just a little bounce - let's see what happens on monday !

[scepticalinvestor] 25/6/2021 15:39

Good grief roughly 6% swing today

[edwardt] 25/6/2021 14:30

pugugly - not sure i totally agree. they have let a lot of staff go recently with the additive manufacturing division restructure so don't think they are soft. i agree the r&d commitments to the uk are a must but i suspect keyence will be more than ok with that

[scepticalinvestor] 25/6/2021 08:28

And this is perhaps the reason why the mkt cap is crashing

[pugugly] 25/6/2021 08:20

edwardt:- Agreed but they are I suspect far more concerned about their staff - Remember they will both be very much more wealthy after the sale so the odd £5 or so off the sale price is relatively immaterial to them and HMRC will collect £2 less per share sold on their passing - If they were interested in tax savings I would suggest they would have already moved to a tax haven - However they are so far as I can tell true gentlemen and employers of the old school who have an ingrained duty of care for their employees.

Remember most investors here have (subject to their in price) had a fanatastic multi-bag run so have not much to cmplain about.

[scepticalinvestor] 25/6/2021 08:17

The old boys need to pull their finger out. Wether the bid is higher or lower, the mkt needs to know..Lowest mkt cap YTD - support at what, 4700p?

[edwardt] 24/6/2021 17:15

i suspect they are not thinking of iht as a reason to accept less. that is near daft.

[pugugly] 24/6/2021 14:18

I suspect the owners are trying to tie up legally binding contracts for the buyer to keep the business in the UK and also honour staff contracts - They do not need the money and as are not non doms on their passing much of the money they get will go to HMRC in IHT -

So price might still be significantly less than current market cap - Remember every £1.00 reduction will potentially cost HMRC 40p in IHT or more if IHT rates rise to help pay for Covid!!

[edwardt] 24/6/2021 08:31

agree - very odd. i have put that down to the rating and the inevitable tracker selling. surely a controlling interest in a high quality business deserves at least a standard premium to undisturbed price of circa 20%? i would have hoped for 30%+ but hey ho we will see.