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RPC Rpc Group Plc

792.60
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Rpc Group Plc LSE:RPC London Ordinary Share GB0007197378 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 792.60 792.40 792.60 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Rpc Share Discussion Threads

Showing 2926 to 2949 of 3650 messages
Chat Pages: Latest  122  121  120  119  118  117  116  115  114  113  112  111  Older
DateSubjectAuthorDiscuss
29/1/2019
11:42
Jeffian -

Yes, I was in touch with Alistair Osborne, following my email to the City Ed. the previous day, and he promised they would keep on it and has kept his word. I hope the instis. read it and act accordingly. It remains to be seen whether it will make any difference in the long run.

I, too, have been the victim of opportunistic management buyouts. One was Pentland Industries which had done very well for us for some years but was taken over at a low point. It's quite easy for the bosses to engineer that if they have designs on getting it back into their own hands after making a packet by floating and then rewarding themselves very generously. Sometimes it's a case of them getting annoyed because the market is undervaluing it but surely they should be carrying on doing what they believe to be right and if they are the market will eventually wake up to that. I don't think flogging it off cheaply is the answer and is clearly grossly unfair to shareholders. I must find time to see how much the RPC bosses raked in while the share price was going down. Too busy at the moment.

bouleversee
29/1/2019
11:30
I don’t have any problem with that Jeffian.

He bought his shares at the market price and then re-sold them at a price acceptable to him, just as each of us do ourselves on a much smaller scale.

cashcow5
29/1/2019
11:02
Surely if and when the decision makers at SLA and other heavyweight RPC shareholders remind themselves of how Apollo cleaned up before by acquiring Berry, it will convince them to reject the terms on offer in this instance.
The surprising thing is that if there were to be a similar amount of fat on the RPC bone, why Apollo felt the need to be so miserly - my guess is that if they'd made cash offer of say 850p per share, the deal would have been as good as done and dusted by now with the company's institutions making a rush for the exit door. I too, whilst disappointed with the price, would probably be signing on the dotted.

whatsyourgame
29/1/2019
10:30
Just read the full article in the physical edition. Yes, quite powerful and certainly reflects my position. I was for years a shareholder in Alliance Unichem which was an excellent growth company in which I wished to stay invested but was taken private by management and PE when it acquired Boots the Chemist on the grounds (they said) that the market wouldn't stand for the investment and reorganisation costs required. Needless to say the enlarged company was re-listed a few years later at great profit to all concerned. It's a familiar pattern I'm afraid, but it's up to shareholders to stop it. I was also a shareholder in a company which suffered an MBO at a ludicrously cheap price after the Chairman and his family had hoovered up a controlling stake when the share price collapsed. When challenged at the final GM to justify the price at which he had acquired his shares and subsequently bid for the remainder his reply was "Because the market let us". If we don't like it, it's up to us.

Wasn't Alistair Osborne the journo bouleversee said she had been in touch with?

jeffian
29/1/2019
03:30
There's a highly critical piece by Alistair Osborne in today's issue of "The Times" concerning the meagre terms on offer for RPC in which he highlights the fact that Apollo has already made a mint out of plastics and is planning a repeat with RPC.

In 2006, it took control of America’s Berry in a debt-backed $2.25 billion deal. Apollo invested $550 million of equity. Eighteen months later it had taken out a $425 million dividend — leaving $125 million equity. It turned that into $1.6 billion, floating Berry in 2012 at $16 a share. In short, Apollo made around 3.5 times its money. And guess what? It rues selling out so soon. Today Berry shares top $50.

WOW! is what I say.

whatsyourgame
28/1/2019
23:40
I can't find the unequivocal statement in black and white for you, bouleversee, but there is no doubt that the individual instructions of shareholders will be acted upon and their number of shares voted in accordance with their instructions.



Re: Standard Life Aberdeen, they've got themselves into something of a pickle because, whilst they clearly don't like the offer enough to give an irrevocable undertaking to accept at this stage, it was largely their intervention back last July(?) that set this hare running anyway! Their problem is circular; they were sufficiently unhappy about the share price last July to effectively put the company 'in play'; share price goes up, but not to a level which reflects the company's value and prospects; if they turn it down, share price goes back down (at least, temporarily) to the level where they were unhappy and 'invited bids' (repeat ad infinitum). One would like to think they'll do the right thing and reject this lowball bid, but insti's have their own agendas.......

jeffian
28/1/2019
22:15
Boule
I day say clients, not shares.
Anyway, I am only really speaking of my experience with HL as I am a client. I receive a 'Corporate Action' notice if there is a takeover, offer, rights issue etc
I am asked if I want to vote and they submit on my behalf along with all other clients
Does not apply to AGMs, I have to contact them and ask them to register my vote.
I cannot speak for how other platforms/brokers operate.
If you want to vote, then best if you contact yours and ask what happens/how you pro eed.
Not really aware of the Uniliver situation
Best Wishes.

boy john
28/1/2019
21:44
Interesting. Not what I understood from the thread on Lemon Fool when the Unilever
Scheme of Arrangement was being discussed. IIRC Sharesoc was pretty agitated about it as well as various people on TLF. In any event, HL might be a bit surprised to get 5 m. for and 4m. against if they only have 8000 nominee shares. LOL.



I don't know whether you will be able to get this without registering.

I should be delighted if it could be proved that our individual votes do count as it is iniquitous if they don't. Please let me know if you have any evidence which confirms your understanding and I'll pass it on to TLF.

bouleversee
28/1/2019
20:09
Not true boule about the one vote. If say HL have 8000 nominee clients and they vote their shares 5 million for and 4 million against, HL will submit these numbers, so each share/vote does count
boy john
28/1/2019
19:57
Boy John -

Have you checked that your vote will count individually? This blew up over the Unilever proposed move to the Netherlands which thankfully came to nothing. I think the Nominee only has one vote and you would have to certificate to get your vote counted, not possible if shares are held in an ISA.

bouleversee
28/1/2019
19:27
Disappointed that we haven't heard a squeak thus far from Standard Life Aberdeen, RPC's stand out largest shareholder. Clearly, they weren't persuaded to give an irrevocable acceptance to the terms offered, so they obviously have some degree of concern ... why don't they simply come out and say so? Their decision will probably sway the success of the offer one way or another unless of course, they abstain until it becomes clear what other shareholders have decided.
whatsyourgame
28/1/2019
19:08
No fee from HL for Corporate Actions.
Are we all voting against?
I am.
Use your vote, no matter how small your holding.

boy john
28/1/2019
19:05
IWeb tend to advise us when the whole thing is fait accompli but once I hear from my kids that they have rec'd the bumf I will be on to them saying I want to vote. OTOH, didn't I hear that a Nominee only gets one vote on behalf of all the holders under their umbrella? I suppose the nominees base their vote on the majority of those clients who indicate which way they want to vote but one vote is totally useless. It wouldn't surprise me if they didn't bother to vote at all.
bouleversee
28/1/2019
18:31
The clock hasn't started ticking yet, bouleversee. This will be triggered by the issue of the Scheme Document -

"The Scheme Document will include full details of the Scheme, together with the notices convening the Court Meeting and the RPC General Meeting. The Scheme Document will also contain the expected timetable for the Acquisition, and will specify the necessary actions to be taken by RPC Shareholders."

When it is published, it will be sent to the certified shareholder - either physically or electronically depending on your standing arrangement - and if your shares are held in a broker's Nominee Account, it will go to them and they should notify you. You will then be told the timetable and when you should respond by. My experience with HL is that they are not particularly quick in notifying you of 'Corporate Actions' and almost seem to assume that you will not involve yourself (in another contested bid, the message from HL was "you do not need to do anything...."!) but you can instruct them how your vote should be cast. They used to charge a fee for this, which I complained went against the whole principle of shareholder activism, and I'm not sure whether they still do.

jeffian
28/1/2019
16:49
Jeffian. Wasn't my question (and have sold out), but thank-you.
I assumed current route is the easy or simpler option but wasn't aware of mechanics - or typical timescales of each, so good to know.

dr_smith
28/1/2019
16:33
Re: #2895,
I'm not sure a journalist for "Packaging News" necessarily has a keen grasp of the world of takeovers, bouleversee! He sets some store by the fact that the bid "has been recommended for approval by its shareholders" but, as we know, they certainly haven't got a majority onside at the moment.

The difference between a Court-sanctioned Scheme of Arrangement and going through the formal takeover route is that the former is a 'fast-track' method which simply commits all shareholders to take cash instead of their shares and gives the bidder 100% control on a simple majority. If they go down the formal Takeover route, the bidder may win effective control with 50%+ but they cannot fully control the business without 75% and they cannot force any remaining minority shareholders to sell to them until they get 90%+.

jeffian
28/1/2019
16:26
IMHO This isnt over yet there could be more drama to come. GLA
warik
28/1/2019
12:13
What exactly is the difference? I see the writer expects the deal to go through anyway.
bouleversee
28/1/2019
11:55
This report suggests that if shareholders do not declare their support, the scheme of arrangement could be ditched in favour of a straightforward takeover. Presumably this would mean Apollo could revise their offer.
hxxps://www.packagingnews.co.uk/news/business/mergers-acquisitions/ma-activity-forecast-packaging-sector-rpc-deal-24-01-2019

spot1034
28/1/2019
11:36
Looking forward to hearing why the Chairman thinks this is a good deal for his current shareholders.
squidsgone
25/1/2019
22:30
Our BOD are tired of their job needing change of scenary therefore selling the company and filling their pockets by emptying ours lol
warik
25/1/2019
22:24
I confess that when I saw that I wondered if they were bringing it forward so they could use it to manipulate shareholders and guide them towards accepting the deal, but in fairness last year's was issued on the same date.
spot1034
25/1/2019
22:18
Well they dont need financial calendar for 2019 flogged the company off.

Dont see anything exciting even if they make it up max is 782 nobody will pay more than the offer price.

warik
25/1/2019
22:13
RNS issued this afternoon notifying that third quarter trading statement will be published on Feb 1st.
spot1034
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