market looks oversold and especially RHIM and surely a good day trading opportunity assuming the DOW and US indices do not tank after 2.30pm . If so, seems s low risk trade to say the least |
got hit today and anyone know what the reason might be ? Not ex div I assume . |
still a great looking chart and probably more upside if markets remain bullish. nice weekend all |
My tendered shares have now gone and the cash is in the account. It was a good idea at the time, so no regrets. A profit is a profit. |
Ignite really are trying to avoid letting go of their money for as long as possible. They were contractually required to pay out by 13th Dec latest, but I suspect they have issued cheques via the post to gain that extra day or two of interest on their money. If like me you tendered in the offer you have irrevocably accepted and you cannot sell your shares in the open market. As there was a big difference between the tender price and the market price around the time of the offer, I bought even more in the market and tendered the lot. This has insulated me from the shares now going higher than the offer price in the open market. I suspect the shares will now be quite volatile in price going forward as the amount of free float is quite limited. |
No payout to me on the 13th. I've still got my tendered shares. Rather pleased really, given the present price movements. |
wow , some turnaround and now a great looking chart with more upside to come and even doing well today in a bearish market ! |
vb6,
the chart now looks much better after it turned around at 2500 and seems to be more in this one :) |
Thanks EC2.We await with baited breath. |
Ignite announced yesterday evening that all regulatory approvals for the tender offer are now received. Conditions for the offer appear to me to all be met so payout to shareholders will be by 13th Dec latest. I expect Ignite will delay making the payment to this latest date. |
My tendered shares were not bought during the corporate action. Like you, I'm not a close follower of the news. One assumes it's all completed. |
awful looking downtrending chart and seems to be heading lower with 2400 chart support . I do not study the fundamentals but did some holders above sell at £28.50 a few months ago ?? |
My tendered RHIM shares are still sitting in my account. Am I to assume that they are to remain mine despite the corporate action? |
Hi red. Some from the UK, on here, tendered their shares. Have you seen a statement to say that they are excluded from the 20% take up? Or am I misunderstanding the latest news on the issue? |
No tenders from UK holders accepted, of course. But I wouldn't have done so even if I could have, and the bump up following the half year results confirms my decision (and the view from the Board, that this is an opportunistic approach that undervalues the business by some margin). I do hope it was seriously under-subscribed, because it would be a shame to see the liquidity so much further reduced. |
When do we get to know if our shares are to be taken by the latest corporate action, assuming that they have been tendered? |
Tendered my entire holding today for the £28.50 offer having increased my position by an additional third end of last week at £26. Means in theory I'll still retain a reasonable holding plus have made a £2.50 turn on the shares accepted in the tender. I'm assuming at least 30% of the shares tendered will be accepted on the basis that the tender is for 29.9% of the share capital. |
As a stock where NO stamp duty payable I keep an eye on it for a day trade or a short term trading opportunity . But I fail to understand why they would offer well above market price and is it just a proposal or will they definitely take a stake ? I do not follow it that closely obviously :) . I notice the share price pulled back today ! |
@reddirish - i think they do a placement and then use the cash to do more acquisitions |
It was in an RNS at 07:32, just not tagged to RHIM |
I'm glad someone else has identified the value in this, though it is of course opportunistic. This is one of the few of my value holdings that I thought immune from corporate activity, but one can never tell. I for one will not be selling them 20% of my shares, or any at all; maybe the family trust will sell up the balance? |
Typo56:- Thanks - Market very short of news on this. You have more than my broker!!!! |
Ignite Luxembourg Holdings, a company indirectly managed by Rhone Holdings VI, offered to buy a 20% stake in RHI Magnesita at GBP28.5 per share in cash, a 39% premium to the stock's close on Friday. Rhone said it aims to buy a non-controlling minority stake in Vienna-based supplier of refractory products. The offer values all of RHI Magnesita at GBP1.34 billion, or at GBP1.38 billion including a dividend recently declared by RHI Magnesita. |
Rhone Holdings offers £28.5 per share for 20% of RHI Magnesita |
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