Eagerbeaver66
17 Dec 2015
Update without an Update! Update issued by the company today, but just repeats warnings that shares may be worthless if the offer is not accepted - a veiled threat to pressure shareholders into accepting the lowball offer.No update on how the offer is proceeding, and what percentage of acceptances so far, and no update on progress on re-negotiating credit lines.It just makes you question the integrity of APR management more, and wonder whether they are truly representing shareholders best interest or their own. Are they negligent or just incompetent?
evenlongershot
02 Dec 2015
above offer price? Can anyone shed any light on why the market price keep going above the £1.75 offer price????
shakyhands
28 Oct 2015
Re: 6 more days If you looked carefully,the price kept running up to 177p and then retreating back - suggesting that the market knew where the bid would be..
arborman
27 Oct 2015
Re: 6 more days So, not that anyone is following, i sold out on Monday at MORE than the offer price of 175p, very strange it reached 183p so obviously some people expect the offer price to be increases, i do not as the offer came from people who hold a large chunk of sharesHappy days, onto the next one.....
arborman
24 Oct 2015
6 more days Until they have to make a firm offer or withdrawSome good trades gone through in the 170's yesterdaySo what price will any offer be at?My thoughts are around the 200p mark.....Just hope they DO make an offer, don't want to see this fall back under 100
shakyhands
07 Oct 2015
Re: RNS If they hadn't been losing money in cash terms,they wouldn't now have a problem with their banking covenants.As for finding another bidder,one member of the bidding consortium has an 18% equity stake in the company. I fancy that their reluctance to realise a large loss on that is the reason why a bid might be higher than it should be or needs to be - given the company's current plight.
Tenobas
07 Oct 2015
Re: RNS There are other possibilities:It does not look to be a complicated business and they could:1) Find other bidders.2) Farm out future profits on individual projects.With the borrowing equal to the equity they surely don't need much to get back in favour with the lenders?I do not agree that their negotiating position is weak and the only significant issue is whether or not the business can break even in the medium term.
shakyhands
06 Oct 2015
Re: RNS Possibly,but APR doesn't have the time to do that.It was already in breach of its banking covenants but was granted a one-month extension by its bank.That surely must put it in a very weak bargaining position when negotiating with any bidder,since the bidder could offer the value of its debt plus a token amount for the shares,and the bank could insist that such an offer be accepted - since that would be in the best interests of the bank. The only way out of that that I can think of would be an emergency placing or rights issue to raise the money needed to put APR back within its covenants - but that would hit the share price.
Tenobas
06 Oct 2015
Re: RNS How can you be so sure:Cost: £550m net debt + £140m bid = £690mBuys £1000m of kit.If that equipment can be deployed it would be a nice little investment and the growth prospects are on top of that.
shakyhands
06 Oct 2015
Re: RNS A takeover of APR at current levels does not make sense.Too much debt.
arborman
05 Oct 2015
RNS In discussions about a takeoverHappy days
arborman
01 Oct 2015
Re: LG Glad i didn't wait to top up sub 50 LGAverage of 80p, just under 16k sharesHappy days
lambrini girl
18 Sep 2015
Re: LG arbie..I wouldlike/expect to see 40/50p in a few weeks to tempt me back in..
arborman
18 Sep 2015
Re: what is the reason I can't explain it, very strange, buying opportunity IMO
Rogadar.
18 Sep 2015
what is the reason for today's 20% drop
