MHM Automation - MHM

[percy]

Wow, bought in last year at 63 or so. Just liked the growth prospects and fundamentals. Well done shareholders.

Well done..

[Sideshow Bob]

Wow, bought in last year at 63 or so. Just liked the growth prospects and fundamentals. Well done shareholders.

Nice one Blackcap!

[blackcap]

Nice one Blackcap!

Thanks, almost sold out a while back in the 90's. Don't always get them right though.

[Snoopy]

Big pay day coming up …$1.70 a share

Mercer / MHM finally reward shareholders

http://nzx-prod-s7fsd7f98s.s3-websit...985/406370.pdf

I don't follow this share closely. I am aware they have transformed from low tech Mercer Stainless into a company with a portfolio of automated technical solutions to offer. I see it was only in May they acquired 'Wyma'"
"A world leader in the design and manufacture of post harvest vegetable and fruit handling equipment. Wyma is based in Christchurch (where it has recently moved into a new state of the art manufacturing facility), with operations in Australia, UK and Czech Republic." Value was $60m.
I also remember the 'blood out of a stone' commentary about getting dividends from MHM!

That circa '85% above closing price' offer of $1.70 certainly made me sit up and take notice too. Good for shareholders, except those who bought in 10 years ago when the share price peaked at over 4 bucks! I don't like that a 'scheme of arrangement' offer has appeared, to get around putting up a straight takeover bid. A SOA needs 75% share acceptance to go through verses 90% for a takeover. I see the former owner of Wyma, Andrew Barclay, now has a 22.6% shareholding in MHM. It looks like the acceptance of any deal or not, even a SOA, could fall to how Andrew plays his cards. Pre-market buy offer is only 95c. Does that mean punters do not see much chance of this deal going through?

SNOOPY

discl: Never held, but thought about acquiring a few shares over the last year. What is the offer on the table for 'thought acquisitions'?

[blackcap]

I don't follow this share closely. I am aware they have transformed from low tech Mercer Stainless into a company with a portfolio of automated technical solutions to offer. I see it was only in May they acquired 'Wyma'"
"A world leader in the design and manufacture of post harvest vegetable and fruit handling equipment. Wyma is based in Christchurch (where it has recently moved into a new state of the art manufacturing facility), with operations in Australia, UK and Czech Republic." Value was $60m.
I also remember the 'blood out of a stone' commentary about getting dividends from MHM!

That circa '85% above closing price' offer of $1.70 certainly made me sit up and take notice too. Good for shareholders, except those who bought in 10 years ago when the share price peaked at over 4 bucks! I don't like that a 'scheme of arrangement' offer has appeared, to get around putting up a straight takeover bid. A SOA needs 75% share acceptance to go through verses 90% for a takeover. I see the former owner of Wyma, Andrew Barclay, now has a 22.6% shareholding in MHM. It looks like the acceptance of any deal or not, even a SOA, could fall to how Andrew plays his cards. Pre-market buy offer is only 95c. Does that mean punters do not see much chance of this deal going through?

SNOOPY

discl: Never held, but thought about acquiring a few shares over the last year. What is the offer on the table for 'thought acquisitions'?

Agree with you Snoopy, that schemes of arrangement are an inferior means to shareholders for takeover type offers.

Although I am happy with my position, it is tempered with the knowledge that the NZX is dying a slow death and does not have long to go if this continues.

P.s Bid is now $1.20, no offers. I think this will trade close to $1.70, the arbers will be in there.

[GTM 3442]

I am bl**dy annoyed (again) that I am geing compulsorily bought out of a New Zealand technology company as it vanishes into overseas ownership. I was happy to buy in at $0.65/odd, happy to see the price hit $0.90/odd, now I'm sad to see the NZX shrink, and bl**dy annoyed to be bought out - even at $1.70.

[blackcap]

I am bl**dy annoyed (again) that I am geing compulsorily bought out of a New Zealand technology company as it vanishes into overseas ownership. I was happy to buy in at $0.65/odd, happy to see the price hit $0.90/odd, now I'm sad to see the NZX shrink, and bl**dy annoyed to be bought out - even at $1.70.

You can always vote against. Going to be a hard sell I think to most shareholders though. The premium is so large. Like you I bought in about 2 years ago mid 60's. I had spoken to the CEO and CFO and really liked their prospects and fundamentals. I think the growth opportunity is phenomenal. Possibly $1.70 is still too cheap....

[Snoopy]

P.s Bid is now $1.20, no offers. I think this will trade close to $1.70, the arbers will be in there.

Another pre-market update. Bidder at $1.58. Seller at $2

SNOOPY

[Sideshow Bob]

One small trade through at $1.58.

100,000 on offer at $1.64....

[Snoopy]

A SOA needs 75% share acceptance to go through verses 90% for a takeover. I see the former owner of Wyma, Andrew Barclay, now has a 22.6% shareholding in MHM. It looks like the acceptance of any deal or not, even a SOA, could fall to how Andrew plays his cards.

Question answered. Barclay has folded.
http://nzx-prod-s7fsd7f98s.s3-websit...030/406418.pdf

SNOOPY