Waterman Share Discussion Threads

[ed 123] 09/5/2017 10:22

Mattboxy. It may only be temporarily like that. Could only guess, but it's maybe the bidder (or agent for) mopping up shares at a price just below its takeover offer. Then, there's a normal market working alongside that, so the normal market maker might be bidding say 137p but you don't see that when you hit your sell button because the best price only is presented. The buy at 139.4p is the normal rsp buy price from a market maker. Stamp duty stops anyone benefitting from the difference.

I see there's a trade at 140p gone through for 2.5 million shares. That's maybe someone buying those aggregated sells of c. 139.5p?

Edit On further inspection, I see that Hargreave Hale agreed to sell 2,575,000 shares to CTI at 140p. So, that better explains the above mentioned 140p trade.

Fwiw, I'm still holding my Waterman shares. As others have said, there have been occasions when a higher bid has come along. However, CTI have commitments which will give them 26% of the equity, so realistically would anyone else come along?

[mattboxy] 09/5/2017 10:02

I like Epwin EPWN good divvy and plenty of scope to growInterestingly I'm being offered 139.52p to sell. 139.4 to buy? Why would that be?

[blobby] 09/5/2017 09:47

Any suggestions for what to replace WTM with? Anything similar?

[mount teide] 09/5/2017 09:35

A top five portfolio holding - very pleasant news to wake up to.

Well done to the board - all your good work and our patience rewarded handsomely.

[sandlab] 09/5/2017 09:01

Have held since 2004. Has been on my sell list for the last two years - but only when it reached triple figures. Looks like we are there now...

I am holding a bit longer though. I sold Premier Farnell a day before a competing offer arrived. That was frustrating. I don't have a replacement lined up for Waterman so will hold a little bit longer to see what transpires.

[death by donut] 09/5/2017 08:57

Always leave a bit for the next bloke as they , well for me anyway. +80% in just over 2 months I'll take that, not afraid to admit it was probably more luck than judgement tho. Popped up on my filter and I went for it.DbD

[mctmct] 09/5/2017 08:54

I sold my 20k shares this morning, believing that a counter bid is unlikely. For once it seems that news of the bid didn't leak.

[whoppy] 09/5/2017 08:48

When Atkins had an offer of 2080p it went up to 2147p. Remains to be seen if there is a counterbid, but Elliot Capital Advisers an American hedge fund who is an activist investor took a stake in Atkins after the takeover offer to extract a higher offer.

[mfhmfh] 09/5/2017 08:46

any chance of a counter bid?

[smicker] 09/5/2017 08:43

1.39+ with selftrade

[playful] 09/5/2017 08:43

I'm still rubbing my eyes did not see this coming but the dog has already got an extra treat so he's not complaining.

[flagon] 09/5/2017 08:31

Excellent result ... exited this morning.

[rhomboid] 09/5/2017 08:13

I was surprised to get £1.3826 per share for my holding, so little to be gained by hanging around as it looks to be a done deal, a bit like Avesco, nice to see so many reaping reward for patience. Another lesson learnt...again 🙄

[death by donut] 09/5/2017 08:03

Happy days , cheered me up as sat at home with a stinking cold. Got just over 138p after costs .DbD ?

[gorse] 09/5/2017 07:51

What a lovely surprise to click onto this morning - unfortunately, not one of my largest holdings.

[1pvh] 09/5/2017 07:30

One of my largest holdings. Delighted at such a premium. Lovely Company.Expected a takeover price about 110 ish.Hope the Japanese Co expand and prosper and look after the employees.

[tiswas] 09/5/2017 07:17

Amazed and delighted at the premium, not checked CTI out but I assume it is small beer to them and gives them access to and a credible name in the UK.

Took 136.5p for my holding. OK it would probably take a nuke from Korea to stop this going through but bearing in mind the size of the premium and what I paid for them a bird in the hand etc.......

[mattboxy] 09/5/2017 07:01

• The boards of directors of CTI Engineering Co. Limited ("CTI") and Waterman Group plc ("Waterman") are pleased to announce that they have reached agreement on the terms of a recommended cash offer to be made by CTI to acquire the entire issued and to be issued share capital of Waterman not already agreed to be acquired by CTI ("Offer") by way of a contractual offer under the Takeover Code and within the meaning of Part 28 of the Companies Act 2006.• Under the terms of the Offer, accepting Waterman Shareholders will receive 140 pence in cash for each Waterman Share held.• The Offer Price represents a premium of approximately:o 83.01 per cent. to the Closing Price per Waterman Share of 76.50 pence on 8 May 2017 (being the last Business Day prior to the start of the Offer Period)?o 84.89 per cent. to the one month volume weighted average price per Waterman Share of approximately 75.72 pence for the 30 days ended 8 May 2017 (being the last Business Day prior to the start of the Offer Period); ando 84.17 per cent. to the three month volume weighted average price per Waterman Share of approximately 76.02 pence for the three months ended 8 May 2017 (being the last Business Day prior to the start of the Offer Period).• The Offer values the entire issued share capital of Waterman at approximately £43 million.

[impvesta] 09/5/2017 07:00

Found it now after further googling. Here is a link for anyone else who, like me, was scratching their head earlier:

[impvesta] 09/5/2017 06:56

Has a takeover been announced? Can anyone provide a link please? My usual Investegate news source doesn't show anything as far as I can see and a quick google gives me something in a strange language (Norwegian?) which I cannot understand!

[mattboxy] 09/5/2017 06:56

Any chance of other companies bidding higher?

[cheshire man] 09/5/2017 06:44

Delighted with this news :-)

[robow] 09/5/2017 06:26

Agree with you MartinC

[boonboon] 09/5/2017 06:24

Just need to decide whether to sell up now and reinvest elsewhere or wait for the money to come through.