Rws Share Discussion Threads

[wjccghcc] 01/10/2020 09:38

True but RWS shareholders were always going to approve it with Brode's holding so the only risk was that SDL shareholders voted it down which was unlikely unless another offer appeared given the (non-binding) letters of intent.

[eh9] 01/10/2020 07:23

I decided that was dangerous if the deal did not proceed whereas rws shares would go up if the deal did not proceed

[wjccghcc] 28/9/2020 10:41

I switched my RWS into SDL in case of a counterbid but that strategy doesn't seem to have worked either.

[shanklin] 28/9/2020 10:15

WJCCGHCC

Yes, that is far more likely.

Wish I had thought about this before adding just after the bid was announced. Likely to add more before 9th October.

[wjccghcc] 28/9/2020 09:22

I suspect it's more to do with them retaining the AIM listing meaning a lot of the SDL shareholder funds are selling as they can't hold AIM stocks.

[eh9] 28/9/2020 07:36

The market (buy side) does not like this deal despite sell side positive notes

[togglebrush] 20/9/2020 09:53

Investor Presentation
'

[eh9] 17/9/2020 11:08

It's time this started to motor

[togglebrush] 17/9/2020 10:16

RNS published today is buried under several shareholding notices.
'
extracts
'
"they had reached agreement on a recommended all-share combination of RWS and SDL

pleased to announce a shareholder circular (the " RWS Circular ") will be published today that contains information on the background to, and reasons for, the Combination and includes a notice convening a general meeting of the Company (the " RWS General Meeting "). The RWS General Meeting will be held at 10:00 a.m. on 9 October 2020 at Europe House, Chiltern Park, Chiltern Hill, Chalfont St Peter, Buckinghamshire, SL9 9FG. The RWS Circular is expected to be posted to RWS Shareholders shortly.
'
A copy of the RWS Circular will be available for inspection on the Company's website at "

[eh9] 09/9/2020 18:54

Alliance News9 September, 2020 | 9:41AM Email Form (Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning JEFFERIES INITIATES RWS HOLDINGS WITH 'BUY' - TARGET 761 PENCE.

[essentialinvestor] 02/9/2020 16:20

Congrats to those who bought the low, did not reach my buy point. Good fortune to holders.

[undervaluedassets] 02/9/2020 08:08

Good see you are not just a POG investor toggle. . My investments are wide-ranging and I am grateful that they are.

[togglebrush] 02/9/2020 06:33

Press 02Sep20


'
EXTRACTS
'
Beginning
"Whenever I see a mega-merger I worry but RWS has done three or four now and made them work.”
Ends
“If I had to back anyone to pull this off it would be these guys.”

[tudes100] 02/9/2020 01:29

From HY results - "Overall, the Group is currently seeing limited impact on customer demand from Covid-19, with increased activity from Moravia's large technology clients and Life Sciences' clients, who are working on vaccines and antibody testing, offset by some impact on IP services, including slower onboarding of new clients".

[undervaluedassets] 01/9/2020 14:57

One of those rare, rare things ...

Where market thinks that the merger looks good for both parties and prices accordingly.

I know it would not be cheap but £10 within a couple of years does not look an impossible fantasy.

Is not overly Covid exposed either.

[phillis] 01/9/2020 14:17

And back we go

[tudes100] 31/8/2020 01:48

Think your projected PE is too high, based on existing FY22 forecasts for both Co's, projected £15m cost savings & new share count. My admittedly rough calcs got PE 20.5x at 600p so I'll be looking to add this week if share price drops much below 600p. Suspect Brode will have learnt alot from the Moravia acquisition & its integration into the business, don't think they'll drop the ball second time around

[phillis] 30/8/2020 17:51

Can’t see the relevance of this comment
SDL went down a blind alley with Lancaster and reverted to basics under new leadership (eventually)

RWS won’t make that mistake

[essentialinvestor] 30/8/2020 15:15

Might be worth a look around the 5.70/80?.

That PE demands flawless execution.

And anyone who knows the long term SDL history, will be aware that business

has had a fair share of disappointments over the past decade imv.

[phillis] 30/8/2020 14:55

And the following?

The RWS Board expects that the Combination will result in significant run-rate annual cost synergies of at least £15 million by the end of the first full financial year post Completion through combining corporate and support functions, optimising the Combined Group's sales and marketing activities, aligning certain third party spend and maximising operating efficiencies in overlapping language translation activities.

[togglebrush] 30/8/2020 14:16

For Scale purposes only

Stockopedia give
Est Long Term Growth rate (21E)____SDL 8.3% and RWS 5.9%
Estimated Dividend Yield (21E)_____SDL 1.12% and RWS 1.56%
'
Using my Back of a Beer Mat numbers by adding RWS and SDL figures (with different ye) we ended up with:-
‘
Combined £m_______2017__2018__2019____TTM__2020E__2021E
‘
Total Revenue__£m__450___629___732____728___721___774
Operating Profit____49____63____91.6___90.7
Net Profit £m_______53.1__43.1__64.7___65.6__76.4__90.3
'
PE Ratio forecast____________________________32.7__32.7
‘
IMHO It seems worthwhile holding on for the sales pitch with real numbers

[phillis] 30/8/2020 11:19

?
No valuation and no forecast for sure other than expected overhead savings

[togglebrush] 30/8/2020 06:53

The share price fall is based on the RNS which is light on numbers except for six month share prices for both RWS and SDL both of which have spiked during that period. These give lower average SP's for the RNS than recent actual.
'
We await the circular etc, due shortly, which will give a more accurate valuation

[shanklin] 29/8/2020 16:54

Shame I switched some D4T4 into RWS ON Thursday. Surprised bu such a large share price fall on what seems an eminently sensible deal.

[alter ego] 28/8/2020 22:06

Good video. I met Andrew Brode at an investor event organised by Chris Boxall about ten years ago. I already held some RWS shares and found AB a very astute, focussed man. I’ve stuck with him ever since and have faith in his judgment.