Supporta Share Discussion Threads

[longshanks] 23/7/2008 16:23

I wonder if this is all done and dusted.

The important notice that came with this notification indicates that Romac reserves its right to make a bid within 6 months subject to certain conditions.

We still have the 3rd party in the background who was prepared to make an offer (with Romac's agreement). The fact that Romac weren't happy to sell at that price but are, on reflection, equally unhappy to match because it is not at this time in the interests of its stakeholders leaves me thinking there is yet more to come on this.

Deutsche Bank have just acquired 6%....from where I wonder - there has been no noticeably corresponding trades and no RNS yet from a stakeholder who has reduced by the same amount.

[tonester30ccfc] 22/7/2008 06:12

22 July 2008
Romac Investments Limited ("Romac" or the "Company")
Termination of discussions with Supporta plc
On 13 June 2008 Romac announced that it had sent a letter to the Board of Supporta on 23 April 2008 outlining the terms and conditions of an indicative offer for the entire issued and to be issued share capital of Supporta (the 'Proposal'). The Proposal was rejected by the Board of Supporta on 5 June 2008. Since that date Romac has been considering its options, one of which included making a revised proposal to the Board of Supporta. However, having assessed all of the available options, Romac has concluded that it is not at this time in the interests of its stakeholders to continue discussions with Supporta in relation to a revised proposal, and so does not currently intend to make an offer for the entire issued and to be issued share capital of Supporta (subject to the below).

[longshanks] 09/7/2008 15:34

Who knows. Romac had an offer refused and are meant to be mulling over whether to match an offer by a 3rd party that they wouldn't support. I guess this is a bit of a stalemate but no doubt Romac will at some point have to say yes or no. If they say no, presumbably they will then have to back the 3rd party or look like a bunch of plonkers.

[latifs100] 09/7/2008 13:12

are these still in bid talks? or mbo

[boadicea] 24/6/2008 07:09

Something of a curates egg here -

[longshanks] 23/6/2008 09:44

No results as promised.

If they are going to give a specific deadline I would expect Directors to stick to it.

If I wasn't so sure that I will make a decent return I would kick these shares into touch. It appears to me that the company really considers shareholders as an inconvenience rather than giving them the respect they deserve.

[longshanks] 20/6/2008 13:29

...results due out on Monday. Astonishing just how little interest there is in this stock. Lets see what happens following the publication of data.

[longshanks] 19/6/2008 05:15

OK - John Gannon - Development Director - ex MD of Terraquest.

Interesting to see insiders increasing their stake

Considering info about the potential offer was not public domain at the time of his purchase - is this not insider dealing? Of course it could be entirely coincidental ;)

-------------------------------------------

By my estimate...Romac have spent approximately £10.5m buying their 30% stake in SOR for an average price of approx 42p. My guess is that their initial proposal was at a takeover price of 30p...to "safeguard their investment" - giving a value of approx £25m to the business (including their existing £10.5m investment) . A counter offer of 40p by the third party would have been below par value for Romac and hence they rejected it. My guess is that they will up their bid to match the 40p offer.

John Gannon in the mean time has been filling his boots - presumably with proceeds from the sale of TerraQuest to SOR. Seeing as he is Development Director - he must be in a key position to see the lie of the land and no doubt has good cause to be optimistic.

Looks to me like the price of a recovery is still not factored into the price...let alone the value ascribed to the business by Romac. Figures are imminent that could well underpin such a recovery and give cause for a rerating by institutional investors.

[longshanks] 18/6/2008 09:50

anyone know who Peter Gannon is?

[ajlpode] 13/6/2008 15:24

Romac are the ultimate owners of RETIREMENT VILLAGES LIMITED (www.retirementvillages.co.uk)

[red army] 13/6/2008 12:10

Holt resigned from this company last year (to pave the way??)and Mears clearly want growth from this sector as they are keen to please with their desire to enter the full listing this year.

[longshanks] 13/6/2008 11:14

Is Holt associated with Ginkgo?

All I can find on Romac Investments is that they are linked with an "M O Pestalozzi" as the ultimate owner.

Of course Mears/Bob Holt could be the 3rd Party involved....but they only seem interested in a deal that would stuff Romac/Ginkgo.

[red army] 13/6/2008 11:07

Its about time Mears came to the party.

[longshanks] 13/6/2008 10:48

nice to see someone else around.

[latifs100] 13/6/2008 10:43

good to hear...

[longshanks] 13/6/2008 10:32

...all is coming clearer.

Looks to me like Romac made an approach at, say 30p. The board went to someone else who said they would pay, say 40p (but needed Romac to agree). Romac said no to this and are thinking whether they should bid themselves at this level.

Still murky water...but it looks like the bid is coming...otherwise Romac have the choice of sitting out the share price doldrums (and let the company run itself different to their ideal way) or they take the offer made by this 3rd party and presumably accept the loss on their investment made to date.

[longshanks] 13/6/2008 06:16

Hey hey - me and my crystal ball...

Looks like the first offer (rejected on June 5th) was an opportunistic and measly one. Current offer looks like it still will be opportunistic but if they offer at least 40p the board may well recommend it.

Looks like I got on at the right time.

[longshanks] 04/6/2008 11:10

time to get on board?

30d m.a. has just crossed 50d m.a. which is what I tend to use as a good indication of when to buy. I just feel a disposal/earnings enhancing deal coming on....plus possibility of a bid given our 29.99% holder.

Results due 23rd June.

[longshanks] 13/5/2008 16:49

Just found updated broker forecasts from Brewin Dolphin:

2008
Broker Date Rec Pre-tax £m EPS p DPSp
Brewin Dolphin Investment Banking 01-05-08 BUY 1.54 1.56 0.00

2009
Broker Date Rec Pre-tax £m EPS p DPS p
Brewin Dolphin Investment Banking 01-05-08 BUY 3.28 2.76 0.00



P/E of 14.4 dropping to 8.1 next year. With that kind of growth it will get some attention but doesn't look any cheaper than many other stocks out there. For this defensive sector though, I would say it is good value.

[longshanks] 13/5/2008 16:21

Like alot of others of its type: ASPL, WPR etc. Not really my scene to be honest though I'm sure they offer good long term growth opportunities.

[latifs100] 13/5/2008 12:37

what do you make of ASIAN GROWTH PROPERTIES..[AGP] NET ASET VALUE OF 44P.. PRICE NOW 19P.

[longshanks] 13/5/2008 12:34

Someone looks to have disposed of 2.7m shares - we are owed an RNS unless, I guess, it is just some big fish shuffling their benficial interests around.

[longshanks] 12/5/2008 13:27

This is as cheap as it will get IMO.

Good sector to be in and current price offers a decent takeover opportunity. Recent trades indicate that someone is interested - and with Gingko on 30% I would expect some flurry of activity in the wake of the June results which may be far better than anticipated.

[latifs100] 12/5/2008 13:17

i think i will wait b4 i average down..

the directors buy shares on 2nd jan, and then on 23rd jan, issue a profit warning.... bloody laffable.

[longshanks] 09/4/2008 16:09

Did anyone observe the large stock transactions that occurred yesterday after close of business?

That, followed by the first tick up since Feb 12th!