Rws Share Discussion Threads

[sammy_smith] 18/9/2013 09:20

Listen: RWS Holdings (RWS) - #Acquisition of inovia holdings pty limited

Click the link below to listen

[phillis] 17/9/2013 08:04

Excellent news Brode2 !

[jeffian] 29/8/2013 10:36

Well I'm a happy holder since September 2006, so I raise my hat to you, Mr. Brode.

[alter ego] 29/8/2013 09:33

I suspect it is and having met Andrew Brode I was surprised that it was thought he was 80 - he looks much younger so 72 is consistent with his appearance and activity level. Very much on the ball I thought.

[jeffian] 29/8/2013 09:13

Is that you?!

[brode2] 29/8/2013 09:09

Andrew Brode is 72!!!

[grahamburn] 28/8/2013 19:38

OK.

I only pursued the point because your initial post seemed to imply you knew much more than you do. Which is, actually, what I thought in the first place, as the feeling/concern expressed has been around for many years.

Personally, I do not see Brode realising cash for his shares to any great extent unless he needs to leave cash in his estate for inheritance tax purposes (unlikely as he's probably ahead of the game in IHT planning terms). If his holding is distributed between family members or charitable trusts, it will not have much effect on the actual control of the company, at least in the short term. In the longer term, as I noted earlier, it may make the shares more liquid (ie a larger "free float").

[ygor706] 28/8/2013 17:01

Grahamburn.....what you are asking is for the impossible. I would not describe my contact as being a personal friend of Mr Brode and even if he were I would not expect him to be discussing with him the details of his family succession. As to your comment as to how this equity stake could affect a publicly quoted company I think that is self evident. If Mr Brode suddenly decides that he wants to cash in his pile (for whatever reason) it means that the ownership structure of the company will change which may or may not lead to a change of control. I don't think that I can add much more to this particular debate.

[grahamburn] 28/8/2013 15:25

Accepted, but family issues are much less likely to have an impact on a publicly quoted company.

I'd be interested, therefore, to know more about your contact's vibes, information, views and possible future scenarios on how these "family issues" might affect the company - and my investment!

[ygor706] 28/8/2013 15:20

Yes, was referring to the Brode situation. I believe that he is now around 80 years old which is probably what is prompting the comment. You may be correct grahamburn but there are other ways in which this thing could pan out. I never take anything for granted when it comes to family issues!

[grahamburn] 28/8/2013 14:40

I'm not sure what your point is, ygor.

The long serving CEO took a sideways step in October 2011 to a non-executive role as well as representing RWS on the inovia board. Her replacement has been with RWS for 20 years. Then a new (reasonably heavyweight) Finance Director joined on October 2012.

So a reasonably fresh executive team is in place and the company has continued its success story both organically and through acquisitions.

I guess your point relates to Andrew Brode who is definitely getting older(!) even though he still retains a very active role in the company, as well as a substantial shareholding. This has been a lingering issue for the past decade almost, but I don't think it directly affects "succession" as such. The company has a strong enough executive team as well as a long-standing non-executive to keep it growing should Brode fully retire - or unfortunately "pass on". There would, inevitably, be some impact flowing from Brode's large shareholding possibly being dispersed into a number of smaller holdings, but that in itself isn't a succession issue as such as none would have a controlling interest anyway. Indeed, this might create more liquidity in the shares as well as bring in more institutional holders over the medium term which might be a helpful development.

So all-in-all, had your contact made his comment three years ago before the executive level changes (and Brode releasing some of his large holding), I might have concurred with his view. I am much less inclined to do so now unless you can offer some extra insights to the "issues".

[ygor706] 28/8/2013 13:22

I have a contact who has been quite close to this business for a number of years. He feels that succession is becoming a major issue. You could well be correct in your assumption Phillis but either way it looks a good investment to tuck away.

[phillis] 28/8/2013 09:07

£8 approaching!

[ygor706] 06/8/2013 23:30

A relatively big chunk of buying late on in the day against no background news. Start of the next leg up?

[phillis] 22/7/2013 10:41

Does he want to pass it on to his family?

I would have thought an MBO/private equity deal was on the cards given the passing over of management to the next generation

[alter ego] 19/7/2013 10:36

Andrew Brode certainly knows what he's doing and there's a significant shareholding there too. I know he wants to pass this on to his family so no chance of selling out, just building a successful business IMO.

[ygor706] 19/7/2013 09:49

Thanks alter ego...........this company has a good track record and replacing £25m+ in the balance sheet earning next-to-nothing with a decent acquisition looks fairly encouraging to me. Highish PE on entry at the moment but I'm comfortable.

[alter ego] 18/7/2013 16:01

hope your investment pays off.

[ygor706] 18/7/2013 15:53

Have just opened a position here as I like the look of the potential effect on earnings once Inovia becomes 100% owned in September. Growing by organic acquisition always catches my attention. Not the easiest of shares to deal in but I did eventually get a decent offer price after 2 days of trying!!

[sammy_smith] 10/6/2013 13:25

Listen to RWS Holginds - Half year report for the six months to 31 March 2013

Click the link below to listen
hxxp://www.brrmedia.co.uk/event/112412/andrew-brode-executive-chairman

[jeffian] 10/6/2013 08:37

Yep, I'm happy.

[alter ego] 10/6/2013 08:34

yes, cracking results and Inovia looks set to become a valuable addition.

[phillis] 10/6/2013 08:16

Outstanding

very strong hold
roll on those divis

[phillis] 01/5/2013 18:03

meaningless on 16k shares traded

[alter ego] 01/5/2013 16:00

yes but odd share price reaction