Team Internet Share Discussion Threads

[cyberbub] 04/9/2023 11:26

!FOLLOWFEED
This is a discussion thread created in Sept 2023 for Team Internet Group (TIG), formerly named CentralNIC (ticker CNIC - you can find old threads ).

Please keep posts relevant and respectful.

[b1ggles] 05/12/2015 09:27

Pentangle, it was me that was overly optimistic! Barclays are finally paying me on Monday, almost three weeks later than you!

[mckenzie one] 20/11/2015 11:16

What happens to TIG now,

Will it still trade under another name, Cheers ??

[b1ggles] 18/11/2015 21:39

Good going indeed! I wonder how long Barclays will take to launder the money. It's usually at least a day after everyone else.

[pentangle] 18/11/2015 20:36

Not overly optimistic B1ggles! AJ Bell credited my account in full today.

[b1ggles] 17/11/2015 09:57

That's a bit optimistic, pentangle! I had seen the date of 2 Dec as the payout date somewhere, which isn't bad the way these things go.

[pentangle] 17/11/2015 09:16

The shares delist tonight. Wonder if we will get paid out tomorrow. Hope so as there seem to be quite a few attractive alternatives at present to reinvest in.

[thotz] 20/10/2015 11:05

I haven't experienced a takeover before and would like some clarity on it.

If shareholders do not sell TIG shares before suspension on 17 Nov 2015 (from Posting of Scheme Document 16/09/15), will shareholders automatically be credited at 40p per share, i.e. without contacting their stockbroker or doing anything else? Thanks

[inki] 26/9/2015 00:23

The bid will still go through - and there is unlikely to be another bidder, bid has the opportunity to pick up more shares at less than the offer price.

[techno20] 25/9/2015 20:08

I sold out this morning. I'd been holding out in the hope of an improved bid. This now looks highly unlikely. It'll probably go through at 40p, but there's now a real risk Carlyle pull the bid or seek to renegotiate down. If they pull, the share price would tank IMO.

GLA.

[pentangle] 25/9/2015 11:04

I am sure they can but probably won't if we are just talking about an accident of the timing of contracts. Glad I sold half as an insurance policy though as it does introduce uncertainty which was not there before.

[miti 1000] 25/9/2015 10:55

Question is , can bidco pull out or lower their offer ?

[american idiot] 25/9/2015 09:49

Profit Warning !

The Innovation Group plc
("Innovation" or the "Group")

Trading update

In the document sent to shareholders in relation to the recommended offer by Axios Bidco Limited ("the Offer") dated 16 September 2015, the Board of Innovation made the following statement in relation to trading:

"Trading is currently in line with Innovation Directors' expectations, despite the significant headwinds that have continued (such as benign weather conditions reducing claims volumes in the UK property business and adverse currency fluctuations) and a requirement to close a small number of significant contracts before the year end. If Innovation does not close all of these contracts prior to 30 September 2015, profits for the financial year ending 30 September 2015 will be negatively affected."

While the financial year has not yet closed and therefore full year results are not yet known, the small number of significant contracts identified remain in advanced discussions, but partly as a consequence of time and effort committed by management to the Offer, are in the Boards view, likely to close after the end of September.

Primarily as a consequence of this, but also due to the UK property business not having recovered in the second half, sales and profits for the financial year will be negatively impacted and the Directors now believe that Adjusted Profit for the year ending 30 September 2015 will be significantly lower than their previous expectations.

[techno20] 09/9/2015 13:04

Raft of deals above 40p today.

Something brewing IMHO!

[pentangle] 08/9/2015 20:29

If the price does not edge above 40p by the end of next week it should be a done deal. If anyone else is sniffing around there will be insider deals (shock, horror) which will push the price up. If it stays resolutely below the offer price then one may as well sell in the market as hang on for the extra 0.5% or so.

[deadly] 08/9/2015 15:55

mckenzie one, the answer is 42.

[luckymouse] 05/9/2015 03:51

well this deal is nailed on - so may as well hold in case a carpet bagger comes in!

[techno20] 03/9/2015 20:17

SP has stayed very strong, c.300k went through at 40p today.

Carlyle's irrevocable undertakings also dropped, albeit by only 0.1% as a result of NFU choosing to sell in the market.

Increasingly thinking there's a few twists and turns to come on this.

GLA

Techno

[mckenzie one] 02/9/2015 16:51

Hi Folks

Can anybody tell me what it all means Please

[pentangle] 02/9/2015 11:45

I sold half my holding at 39.767p yesterday, but plan to run the rest.

[inki] 02/9/2015 11:40

Interesting comment on Carlyle's offer, in todays FT:

Ian Spence, analyst at Megabuyte, the research group, said that “a counter-offer cannot be completely ruled out, given the weight of private equity money in the sector currently”.
He pointed to how UK insurance software companies have frequently fallen into private hands in recent years, citing deals such as OpenGI’s takeover by Montagu for £300m in 2014 and SSP’s acquisition by LDC for £207m in March this year.

[techno20] 01/9/2015 22:17

I'd say from previous experience it'll be 8+ weeks before payments are made.

The price was very strong today, touching the offer price on occasions. Also interesting that there were several large transactions at 39.75p during the afternoon. Suggests either Carlyle are mopping up what's available or some institutions are looking for more.

This space is very hot at the moment so IMV there could well be other interest. IBM possibly given they led the coop deal???

Holding tight for now!

Techno

[pentangle] 01/9/2015 12:16

Anyone know when we are likely to get paid out - it's been a while since I had a takeover and I can't remember. At present you can sell in the market for a 1.25% discount to the offer price, but I have a fairly large holding so it's still quite a lot of money to give away.

[techno20] 30/8/2015 07:24

A rarity to get my timing right, and unfortunately it was a rather tentative purchase, so can't retire quite yet!

Suspect we'll find out pretty soon the deal with Carlyle. If it's got management and key investors behind it, it's likely to be a done deal, but the premium isn't great, so I'm going to hold on for a while and see whether anything else emerges. Edison were valuing the BPS business on its own at 34p a while back. So with software having delivered a £46m contract and benefiting from the demise of Quindell, a price closer to 50p isn't an impossibility.

Agree Pentangle re. Value. There's still further to go in terms of the rush of UK Technology businesses off the market - have significant positions in IQE, Brady and Lombard Risk - all three of which are IMV quite likely to be taken out in coming months.

Good luck.