Updates

Premier Technical Services - Bid at 141% premium from Macquarie

July 2019

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Christmas came early for Premier Technical holders. During the month the company announced a recommended cash offer of 210.1p per share from Macquarie to value the group at £265.3m. The offer represents a whopping 141.5% premium to the 87p share price the day before the offer.Net debt stands at £14.3m, so the offer gives an enterprise value of 11x ebitda, dropping to 10x for next year. Tipped at 166.5p in April ‘18. Accept the offer. ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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