Spirent Communications Share Discussion Threads

[sam79] 09/8/2006 15:11

So, we might see SPT @ 50p+ by the end of this week........

[lyntwyn] 09/8/2006 13:02

On a more positive note, investors circled Spirent Communications, 1 pence firmer at 43 ahead of the group's trading update tomorrow.-afx

[pdriccio] 09/8/2006 12:08

Andaleg

Do you actualy pay for this stuff?! ;-)

[baronet 1] 09/8/2006 11:26

Current Level 2

Buy 1.185 million v 686K Sell

DYOR

JB

[lyntwyn] 09/8/2006 08:57

Spirent Communications rises as American investor breaks cover
By Nick Hasell
Small caps
SPIRENT Communications notched up a third consecutive session of strong gains as an activist American investor emerged with a debut 9.6 per cent stake.
Recent heavy volume in the shares of the maker of telecom testing equipment had prompted rumours of predatory American stakebuilding and so it proved yesterday, with Sherborne Investors declaring an interest in 89.7 million shares. Although Sherborne may be a relatively unfamiliar name in the City - it cropped up for the first time in June with 4.5 per cent of Scapa Group, the chemicals specialist, steady at 21p - those of Hanover Investors, its associate, and Edward Bramson, its manager, are better known. Under Mr Bransom, stakebuilding by Hanover has been a precursor to its forcing a turnaround at 4Imprint Group, unchanged at 353½p, and, more recently, a boardroom shake-up at Elementis, the chemicals group, where Mr Bramson is now chairman. With Spirent investors expecting more of the same, the shares rose 2p to 42p, with the FTSE 250 up 13.7 points at 9,299.6.

[baronet 1] 09/8/2006 08:56

'The order book is far weighed to the sell side' ??????

I am not sure what order book you are looking at as I checked Level 2 shortly after your post and the quantity on the Buy side was double that on the Sell side.

Current Level 2

Buy -- 842K v 280K Sell

DYOR

JB

[bigboots] 09/8/2006 08:11

rom a chart perspective 42.5 was resistance, failed here and down to 37.5 quite quickly. Also order book for the first time in a week is far weighed to the sell side, so the buyer must have been filled

[pdriccio] 08/8/2006 20:44

Please remeber the following:

,000,000
From HT Sale £ 289

All Loans/Debt Repaid £ 70
Pension Deficit Shored £ 47
Share Buy Back £ 50 Dont think they have spent £ 15 yet

Purchased Texas £ 16
Purchase Quatex £ 9

Leaves Around £ 132 Cash / 931 mill shares = 0.14p per Share

T/o £ 260 and growing now
Usual rule of thumb on buyout's is 2 but can be as high as 4,5 or 6 ( But Using 2) = £ 520 / 931 mill shares = .55p

The Price should be nearer .70p

They are going to pick up a real bargain.
DYOR

[pdriccio] 08/8/2006 19:28

The turnaround specialists have got a grip of this now and it looks like they are going to pick it up on the cheap!

A bit of background.

Mr. Edward J. Bramson Ampex Corp

Employment History
Chmn of the Board, President and Chief Executive Officer2
Ampex Corp

Executive Chairman1
Elementis PLC

Chairman of the Nomination Committee1
Elementis PLC


Education

Bachelor of Science, Economics3
London University

1. Elementis plc: Management team
www.elementis.com/about/management.html
Published on: 4/17/2006 Last Visited: 4/17/2006

Edward Bramson, age 54 Executive Chairman Edward Bramson joined the Board and was appointed Chairman of Elementis on 6 June, 2005. He is Chairman of the Company's Nomination Committee. Mr. Bramson was the Chairman of 4imprint Group PLC from October 2003 to July 2004 and a non-executive director until his resignation from the Board of 4imprint in April 2005. He is also Chairman of Ampex Corporation, and a principal in Hanover Investors Group Incorporated and Sherborne & Company Incorporated.

[pdriccio] 08/8/2006 14:47

48p bid comming, but they're getting it very cheap imho

[lyntwyn] 08/8/2006 14:31

07.08.06 :+2.25, (40) takeover talk continued to swirl around the company, dealers said. By 10.30 am, Spirent shares were up 1-1/4 pence at 39, after rising over 12% last week in exceptionally heavy trade, with more than 50m shares changing hands on both Thursday and Friday. In the first hour of trade this morning, there were two deals of 3.79m and 5.59 mln, further fuelling speculation of an impending bid, with US peer Agilent or private equity group Hanover Investors said to be building up a stake in the group. Spirent is due to publish its interim results on Thursday and UBS is looking for sales of 134.3m for the six months to end-June, with EBITDA of 5.2m and adjusted EPS of 0.64 pence.

[thegrip1] 08/8/2006 12:58

interesting that spirent seem to have 'paused' on the buyback.

[golf4all] 08/8/2006 11:43

This is from 'google'

NOTICE OF QUALIFICATION of Sherborne Investors GP,

LLC. Authority filed with Secy. of State of N.Y. (SSNY) on 6/21/06. Office location: NY County. LLC formed in Delaware (DE) on 5/26/06. SSNY designated as agent of LLC upon whom process against it may be served. SSNY shall mail process to: c/o Sherborne Investors, 135 E. 57th St., NY, NY 10022, Attn: Edward J. Bramson. DE address of LLC: c/o The Corporation Service Company, 2711 Centerville Road, Ste. 400, Wilmington, DE 19808. Cert. of Form. filed with DE Secy. of State, 401 Federal St., Ste. 4, Dover, DE 19901. Purpose: all lawful activities. 703447 jy26 W-au30

[baronet 1] 08/8/2006 11:36

From the RNS ----

'Sherborne Investors GP, LLC, Sherborne Investors Co. LP & Edward Bramson (The Managing member of Sherbourne Investors GP, LLC) are all named as interested parties in the notification received by the company.'

Note --- Edward Bramson = Edward Bramson, a Hanover Investors principal.

DYOR

JB

[baronet 1] 08/8/2006 11:12

SHERBORNE INVESTORS GP are based in the USA !!!

JB

[baronet 1] 08/8/2006 11:09

Q -- Who are 'SHERBORNE INVESTORS GP, LLC' ? and who, have acquired 89 million shares.

JB

[baronet 1] 08/8/2006 11:07

Holding(s) in Company

RNS Number:3877H
Spirent Communications PLC
08 August 2006



NOTIFICATION OF MAJOR INTERESTS IN SHARES



1. Name of listed company

SPIRENT COMMUNICATIONS PLC


2. Name of shareholder with a major interest

SHERBORNE INVESTORS GP, LLC


3. Please state whether notification indicates that regarding the holding of the
shareholder named in 2 above; in respect of a non-beneficial interest; or in the
case of an individual holder if it is a holding of that person's spouse or
children under the age of 18

AS IN 2 ABOVE, SEE ADDITIONAL INFORMATION


4. Name of the registered holder(s) and, if more than one holder, the number of
shares held by each of them

SHERBORNE INVESTORS GP, LLC


5. Number of shares / amount of stock acquired

89,671,780


6. Percentage of issued class (any treasury shares held by the listed company
should not be taken into account when calculating percentage)

9.63%


7. Number of shares / amount of stock disposed

N/A


8. Percentage of issued class (any treasury shares held by the listed company
should not be taken into account when calculating percentage)

N/A


9. Class of security

ORDINARY SHARES OF 3&1/3RD PENCE EACH


10. Date of transaction

NOT KNOWN


11. Date company informed

08 AUGUST 2006


12. Total holding following this notification

89,671,780


13. Total percentage holding of issued class following this notification (any
treasury shares held by the listed company should not be taken into account when
calculating percentage)

9.63%


14. Any additional information

SHERBORNE INVESTORS GP, LLC, SHERBORNE INVESTORS CO., LP & EDWARD BRAMSON (THE
MANAGING MEMBER OF SHERBORNE INVESTORS GP, LLC) ARE ALL NAMED AS INTERESTED
PARTIES IN THE NOTIFICATION RECEIVED BY THE COMPANY.


JB

[pdriccio] 08/8/2006 09:17

What? 20%. I think not. There is a story behind this but it's not that!

[bigboots] 08/8/2006 08:48

MM taken the price up for Fidelity to get out, down to 35p now

[bot53693752467] 08/8/2006 08:32

Fidelity bailing out at a loss, what does that tell us? whos getting in? perhaps its been a case of the pied piper...

[andaleg] 08/8/2006 08:23

Bot
It's the latest that I have access to, what I am curious about is, why no RNS re holdings if someone is building a stake since a large percentage of the shares in circulation have changed hands.

Edit:-

Fidelity down to 1.46% - SHAREHOLDER NO LONGER HAS A REPORTABLE HOLDING IN THE COMPANY.

[bigboots] 08/8/2006 08:13

BREAKING NEWS

0906 GMT [Dow Jones] Spirent Communications (SPM) +2.5% at 41p. Traders point to heavy volume in the stock over the last few days amid continued speculation Hanover Investors or Agilent Technologies (A) might be building a stake. Analyst says a bid from either can't be ruled out but points out Spirent's upcoming results aren't expected to be impressive so a bid at this stage would be unlikely. Notes the stock rise over the past week has made the stock look expensive and feels this may have to do with its recent gains than interest from another party. Agilent declines to comment, Hanover not immediately available. (DWE)