Interior Services Group Live Discussion

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Specialist101 26 Feb 2016

Re: Question, urgent answer requested Thanks, So basically now that C have 75% they could just implement the scheme of arrangement if they don''t get the remaining 25%


Re: Question, urgent answer requested [link] can minority shareholders be squeezed out?Once 90% by value of the shares subject to an offer and associated voting rights are acquired.Alternatively, 100% of a target company's share capital is acquired by a bidder under a scheme of arrangement approved by a majority in number, representing 75% in value of each class, of shareholders attending and voting at the relevant shareholder meeting. Basically (if I understand it) your shares get automatically bought. Similar thing happened to me with essar -

Specialist101 26 Feb 2016

Question, urgent answer requested I'm considering buying some shares in ISG. I've read the latest RNS concerning acceptance by more than 75% and notice of cancellation of listing, also the veiled threat of what might befall any shareholder that doesn't accept the offer. But what I'm wondering is that if I were buy into what is about to become an unlisted private company, is there a compulsory acquisition once the bidder's interest exceeds a certain percentage and if that percentage is not reached how likely is it that C would restructure the company to avoid paying divis to outside shareholders. Assuming C has plans for ISG to tidy up up the accounts, etc and extract the potential that the ISG board reasoned exists, I'd have thought it worth the risk of being there for the ride. In anticipation, thank you for your - I am an experienced investor.

LoadsaDosh2 09 Feb 2016

Re: 173 I go along with that Green300; also sold my holding for a 12% profit.


Re: 173 G300 - a profit is a profit. Congrats with the market as it is.

Green300 01 Feb 2016

Re: 173 Sadly, past "maybe" territory for me. Sold out today at a touch over 170. Shame really, as I had high hopes here, having been one of the lucky ones who got in at 1.43.My logic is that if bid fails, price will fall. If it succeeds then it won't be at a significantly higher level than 170. Famous and expensive last words perhaps!Good luck all whatever you decide to do. I still like the business, but not its leadership!


173 moving into the "maybe"

trivaskus 13 Jan 2016

Re: offer response. Cathexis still offering 143p, are they not watching the share price?

Lupo di mare 01 Jan 2016

Re: offer response. Oh hello, the sp's ticked up over the offer price. Either a better offer's expected, but that should have been obvious from day 1, or a white knight's appeared on the horizon.Lupo said to himself.

Lupo di mare 30 Dec 2015

Numis Oh dear, Numis, you're not paid to make co c k ups like that. Wotever.

Lupo di mare 29 Dec 2015

Re: offer response. Just in case any investors haven't read the full response, here's the link:-[link] to say, I'm not accepting the offer.

tejo 21 Dec 2015

Re: offer response. Why did the Board not make this point clear in their rambling response?

malj1 21 Dec 2015

Re: Offer response Run a cash flow & you'll see what's going on. Based on city consensus forecasts 2016 Cathexis are offering (at £1-43) projected net cash on the balance sheet. Ie they get the business for free. It has been obvious for a while that ISG has been priced at a negative EV (capitalisation minus net cash/debt). If Catheexis pull this off they can't lose! Depends how desperate everyone else is to exit! A classic grahamite type buy - you don't see many of these nowadays.

Lupo di mare 11 Dec 2015

Re: Offer response Seems as if Cathexis UK Holdings are part of Cathexis Oil and Gas, who appear to like buying up under-performing mainly real estate companies, on the cheap, apart from holding stakes in US oil wells.ISG should be able to strip them bare, which is likely what Cathexis want to do with ISG.

Lupo di mare 11 Dec 2015

Offer response So there it is, but how come it took them so long to come up with the obvious?The top team can't all have been sunning themselves in the Caribbean, or stuck on the M25, especially when Cathexis had indicated their increased interest. I'd have thought that an initial response would have been drafted ready to fly under those circumstances, but WDIK.So this weekend they'll be putting flesh on the bones so that they'll be ready to tell us all the detail that was missing from the recent update - once the offer document slips through their letterbox.In any case, they're not going to let this go for 143p; though I'm still surprised that the sp hasn't ticked up further.