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Come on dbay need to do better
Dbay trying to be opportunistic with low ball offer of 190p..Telit worth over 400p e few years ago and its prospects are better than ever.U Blox 250p shares offer is also low ball. Telit BOD should kick these offers into the bin...
Why let D Bay kill the goose for 190p when you could have the goose and the golden eggs for 250p by going with U Blox? DBay will possibility keep it for a year or so and sell it on for 300 or 400p like all of these similar deals imho..Telit is cash rich and has massive potential hence all the interested parties.Adyor
telit should give out a special dividend, maybe they will **** off then
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.
aim must hold d bay to account
they make a statement shares fall then hover up at cheap price
This is just laughs by dbay manipulation stock price offers at 190 then buys 194 white collar crimes
Wouldn't surprise me if DBay already had another buyer lined up for 400p in a few months time, purely an opportunistic attack on Telit imho...?
They did the same at ESL i seem to remember.
We do not need a takeover, cash in bank, good BDO, cutting edge tech. Has potential to be really huge, and i would like to see it play put.
I assume DBay rode into the Telit HQ on a black horse wearing a black cape, mask, tri-corn hat saying stand and deliver...highway robbery still alive a kicking imho? Telit bod have a simple response NO!!! Go away.
Dbay have created a situation where 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!
cant d bay be reported for the shenanigans
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.