Telit Communications Share Discussion Threads

[muchodinero] 07/12/2020 08:21

Goodbye D Bay...
The BOD statement is spot on. They think the offer from Dbay is oppotunistic and significantly undervalues the company and is not in the interest of both large and small shareholders..

[chess123] 07/12/2020 08:13

Agree with everything said in the statement this morning, I now have great faith in the board, also reading between the lines ,they are saying they would like to merge with U Blox, and maybe even at a higher price, I'm hoping U Blox now give some sort of comment, V Surprising the share price Down.GLA.

[weatherman] 07/12/2020 08:09

It looks like u-blox offer is ahead in the race, and yet the price doesn't reflect this yet.

[timmy11] 07/12/2020 07:33

Statement re possible offer

Telit Communications PLC ("Telit" or the "Company") notes DBAY Advisers Limited's ("DBAY") two announcements on Friday 4 December 2020. The first announcement at 07:00 (GMT) stated that it was considering a possible offer of £1.90 per Telit share to be made by funds under the management of DBAY. The second announcement at 11:06 (GMT) stated that it had bought 471,516 Telit shares and the highest price paid was £1.948 per share and accordingly, under the rules of the Code, any offer would therefore need to be at or above this price.

The Board of Telit believes that an offer at £1.948 per Telit share would fundamentally undervalue Telit. As highlighted in the trading update released on 10 November 2020, Telit has shown resilience despite continued lockdown measures across the Company's markets and the impact of the pandemic on customer spending. This resilience, allied with the Board's belief that the equity markets have not yet embedded the fundamental governance, strategic, operating and financial changes in Telit since the events of 2017, informs the Board's view that Telit remains undervalued.

The Board also notes DBAY's comments about the proposal from u-blox Holding AG ("u-blox"). The Board believes that the industrial logic in a combination with u-blox could create value for shareholders of both companies. However, any combination would need to be on terms that reflect Telit's financial performance and position and be structured in a way that ensures the benefits of the combination would be delivered.

Telit is continuing commercial discussions with both u-blox and DBAY with a view to ensuring that any possible transaction with either party would be in the best interests of all shareholders, whether large or small.

There can be no certainty that a firm offer will be made for the Company by either DBAY or u-blox. There can be no certainty as to the terms of any offer made by u-blox, if made.

[timmy11] 07/12/2020 07:33

great news!!!

[beergut] 07/12/2020 07:16

Smart statement this morning from Telit's board. Should flush out and other interested parties.

[ny boy] 04/12/2020 20:08

Just sit and wait it out imo

[chess123] 04/12/2020 17:34

muchodinero: Cheers M8

[muchodinero] 04/12/2020 17:05

Yes they will have to make another offer. Can't see them Matching U Blox.. They are just being oppotunistic like always. I'm Just sitting tight and maybe more bidders will come in now Dbay cards on the table.

[chess123] 04/12/2020 16:29

Anyone know what happens if DBay buy in again at higher price do they have to increase there offer. 🤔

[muchodinero] 04/12/2020 13:41

Pretty dodgy opportunistic behaviour by Dbay imho. They have created a situation with their 190p offer today where they picked up cheap shares above their own offer so they cannot lose. If UBlox pursue their 250p all share offer then Dbay will clean up by making £millions from their 15% holding...Telit BOD need to keep their nerve . Aimho Adyor!

[chess123] 04/12/2020 13:27

look out for another Rns, sure U Blox, will have something to say, as to why there offer is better, Debunk The BS from D Bay.

[w1lbur01] 04/12/2020 12:12

Yep. Advancing in 5p increments

[owenga] 04/12/2020 12:00

So any bid has now crept up to 195p minimum.

[timmy11] 04/12/2020 11:41

surely its illegal to do this

[chess123] 04/12/2020 11:38

D Bay , are doing what everyone suspected they hoped to bring the share price Down so they could buy the shares cheaply, I did notice earlier that not much volume so obviously shareholders holding tightly to there shares, seems very underhand, and they didn't know the rules ? regarding takeovers, shocking, I personally hope they don't succeed.

[w1lbur01] 04/12/2020 11:37

Back to what I said earlier

[janhar] 04/12/2020 11:32

Outrageous!!

[timmy11] 04/12/2020 11:18

Dbay Advisers Limited ("Dbay") announced a possible cash offer of GBP1.90 per Telit share (the "Dbay Possible Offer") this morning. Dbay now confirms that it has acquired 471,516 Telit shares today and the highest price paid was GBP1.948 per share and accordingly, under the rules of the Code, any possible offer from Dbay will need to be at or above this price. A detailed dealing announcement under Rule 8 of the Code will be made as appropriate.

[timmy11] 04/12/2020 11:14

pay special div
then they will go away

[beergut] 04/12/2020 10:14

Good point Weatherman

[chess123] 04/12/2020 10:12

I would like U Blox to win even at a lower price,just my opinion that they are more ethical company, and could work out better in long term for shareholders, D Bay will just break Telit up grab as much money as they can or am I just being old fashioned.

[owenga] 04/12/2020 09:36

The market is saying 190p is not enough!

[weatherman] 04/12/2020 09:34

The U-blox offer doesn't look so bad - a few years ago the co. was value above CF200, now around CF60, possibly due to international trade restrictions hitting turnover. Taking U-blox stock at 250p would be acceptable as there may be opportunity for a rerating - but more difficult to trade if no dual listing.

The reason D Bay rejected the U Blox offer is because they believe they can realise more value by buying at 190p. Which means they think it is worth more than 250p.