Ticking up

lse:fgp

#1

Pleased to see the price nudging up. A dip in Sterling after Carney`s comments, should work wonders for the number crunchers at Apollo. Still difficult to call. Holding out for now. Its worth at least 130p even with the existing set-up.

HH


#2

I would take 150p

But rather it was 200p

Had these for too long not earning a penny (after a decent dividend) and def looking to get out

If it?s a takeover, bring it on.


#3

200p!!! That would be a rise of over 2.5 times from the price (77p) before the market got wind of the deal. I think 150 would be amazing, I think 125-130 more likely.

Whatever the price, management don’t let this opportunity go. As I learnt with PFD, before a firm offer is made shareholders can say oh i want x or y price above the amount offered, but let’s be clear if they walk the price will be back below 100p in an instant.

Myself I am even tempted to sell out now as I have no confidence that the management will do the right thing by shareholders here, just like PFD didn’t. They may be thinking about their nice cushy jobs, and thinking why shake the tree.

Maybe they at the end of May will come out with a half baked story of how things will improve. And then inevitably we will get the next update giving excuses as to why not just were those targets missed but the business is going backwards.

Just like PFD did, when they had the takeover approach they went to shareholders with all these incredible targets the business would be meeting. A year later they ripped it up and replaced the targets.

Management of FGP, the market has no confidence in you or your promises. Shareholders have been fed a barrel full of excuses for years and we are fed up of it. The best thing for shareholders is an exit at a half decent price now, or an immediate breakup and sale of the business if this raises more cash than what Apollo is offering.

The status quo is not an option, you may like it to be but it is not.

My message to Apollo is, don’t overly worry what management thinks. FGP’s shareholders are very open to an offer, offer anything over 125p, go hostile and you should get the vote from shareholders.


#4

Fair enough.

I think this is probably a classic case of accepting and taking a ?loss? ,moving on and looking to throw the proceeds into a decent yielding investment trust.


#5

It is always painful, for many reasons, accepting a loss. In this case I am fortunate enough to be in the black, but with other holdings over the years I have eventually seen the merit in moving on when It doesn`t go to plan. Its like owning a dud car with a shiny paint job. FGP needs a major overhaul and the current board have no plans to do it. Move aside and let someone with a plan take over. I believe FGP is almost certain to have new owners so will hold out till 130p comes along.

HH