"What was their track record like before the Euskaltel takeover?"
ZEG was a single purchase shell for Euskatel. It paid off rather well...eventually; and I think only for those who joined the game late. |
Same here - they have a vested interest in playing things out for a year or more before it becomes too embarrassing, then they identify an excellent opportunity etc., for which they need to raise funds. What was their track record like before the Euskaltel takeover? |
Boystown. I suspect big shareholders forced the big tender.
Little left to play with. I worry that they'll burn through cash and never get another deal done. Current cash c. 8m and corp overheads are quite high (tho hard to predict going forward?).
I'm gonna steer clear. |
I believe the current funds will pay for the ongoing office/analysts cost, presumably when the choose their new investment/s they will raise more cash ? |
So why did they leave themselves with such a small war chest - relatively speaking - to fund new acquisitions?
Wouldn't it have been wiser to do a smaller % tender? |
Galles - see the RNSs of 15/10 & 26/10. Management have just subscribed for 15.9% of where we are now at 143.8p (They now hold 17.9%) - the underlying NAV, which is all cash: |
Hi Skyship, could you share how you worked out the remaining cash left in the company?I sold the remaining shares after receiving the cash, which turns out well in hindsight, but if there is such a discount, I might buy back in again and wait for their next acquisition. |
So how would this likely play out if they identified an acquisition - rights issue? |
The talk in the outlook statement in the half year report was all about finding a new acquisition; no mention of winding up. |
Trouble here is capital could be tied up for some time before any value emerges. |
No they plan to find another target to invest in. |
Do they plan to wind up now? |
Well, now on offer @ 105p. At a 27% discount now looks good value IMO. |
Zeg can usually be bought at a big discount: A round pound or below might start to entice me... |
Anyone have any views on ZEG going forward? Now on offer at 132p... |
I guess the fill amounts are dictated by how many of a particular brokers' clients tendered. Nominee account etc. |
Boystown,
Same here.
Strangely I notice for HL account I retain 0.09% and for A J Bell I retained 1.7% of Zegonna shares.
HL has the best result for the Tender, I tendered them all in both accounts. |
My HL account has just been credited - leaving me with 6 shares! :-) |
Jane, I notice HL has split my Zegonna holdings in 2, the retained portion and the cash portion, it could be we'll see the cash tomorrow. |
Red Ninja Thanks for your posts from someone also waiting for HL to pay out. |
You'd think with digital platforms it would all be automated for this sort of thing I mean all the client holdings must be in a database, thus, all you need is a bit of software to sort it. |
I have some with both Interactive and Hargreaves; the former paid last Thursday iirc, the latter haven't yet. |
I am with Barclays and have yet to receive my ZEG proceeds. They are not bad with dividends but tend to struggle with situations like this. |
Mmm, well it was taking them about 1.5 weeks to do dividends. Similar excuse when questioned as for this tender offer.
However, last few dividends have been on time.
It seems to me if I failed to have cash in my account they would be straight in there to sell some shares to get their fee and quite rightly so.
However, they don't stop taking their service charge on my Sipp/ISA in the month when they fail to process payments on time ie one rule for them another rule for the clients.
A J Bell/II/Jarvis have no problem doing this stuff. |
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