Newbie
Posted 11 June 2020 - 10:18 AM
Renewal of cautionary. The Housatonic Consortium will need to see three months of normal trading and revised projections and debt levels before a firm offer package and funding can be finalised. Original deal was 330c vs current price of 225c.
https://www.moneyweb...announcement-3/
Member
Posted 09 March 2020 - 05:08 PM
March 9 (Reuters) - Metrofile Holdings Ltd MFLJ.J :
* UNAUDITED SUMMARISED GROUP INTERIM RESULTSFOR THE SIX MONTHS ENDED 31 DECEMBER 2019
* HY REVENUE UP TO R473M - INCREASED BY 8%
* HY HEPS UP TO 12.9C - INCREASED BY 26%
* HY EPS UP TO 12.1C - INCREASED BY 19%
* NET DEBT R572M AT END OF HY
* HY DPS UP TO 6C - INCREASED BY 20%
* POSITIVE EFFECTS OF STRATEGIC REVIEW, RESTRUCTURING CONCLUDED CONTINUED TO YIELD BENEFITS IN H1 OF 2020 FY
* GROUP REMAINS CAUTIOUSLY OPTIMISTIC THAT IMPROVED PERFORMANCE WILL CONTINUE IN SECOND HALF OF FINANCIAL YEAR
Member
Posted 06 February 2020 - 03:11 PM
Other assets held by Sabvest include global label designer and manufacturer, ITL, which is owned through Mandarin; alongside a more fragmented book of investment, which include Metrofile, a document storage business; Sunspray Food Ingredients; Flexo Line Products; and Classic Food Brands. In addition, Sabvest holds the unlisted Masimong, a mining and agricultural business, and the listed Rolfes, Brait, Net1 and Transaction Capital.
Metrofile, is held on book at R1.60 per share, and it has recently received an offer to purchase the entire business at R3.30, so in Metrofile alone, you have just more than R80mn uplift on a R1.5bn portfolio. This is a meaningful number. If this transaction goes ahead, as we anticipate it will, the group would have a fresh R150mn on hand, equivalent to 10% of Sabvest’s market value and available for reinvestment or distribution to shareholders as a special dividend (something Sabvest has done on several occasions).
Member
Posted 24 January 2020 - 02:41 PM
Now R 3.14
Wow - I have never seen such high Volumes before - in a day for this stock - 2,57M. It is usually in the thousands.
Whats happening here?
Member
Posted 23 January 2020 - 04:25 PM
It is climbing - now at R3
At least - The JSE and my shares have been red today!
Now R 3.14 
Member
Posted 23 January 2020 - 04:00 PM
It is climbing - now at R3 
At least - The JSE and my shares have been red today!
Member
Posted 12 December 2019 - 10:24 AM
Published Date: 2019-12-10 | Source: Stephen Gunnion | Author: Stephen Gunnion
If the offer proceeds, shareholders will receive R3.30 per share as well as the rights to an interim dividend if it pays one.
Metrofile has ended months of speculation, unveiling a R1.5 billion private equity bid for the group. The documents storage business says the Housatonics Consortium has made a conditional non-binding offer and plans to establish a new South African company to put the deal into motion.
The R3.30 per share offer represents a 126% premium to the 30-day volume weighted average price of Metrofile's shares on 5 September, the day before it issued its first cautionary on a potential transaction. If Metrofile declares an interim dividend for the six months to December, this will be paid to shareholders on top of the R3.30 cash consideration.
Housatonic Partners was founded in 1994 and has over $1 billion in capital under management. The firm maintains offices in San Francisco and Boston and invests globally. It invests in growing, profitable companies in the recurring business services, technology, and healthcare sectors and has invested in five records and information management companies.
Metrolfile said it had convened an independent committee to evaluate the proposal, which in turn had appointed BDO Corporate Finance to issue a fairness opinion. It said the proposal was subject to a number of pre-conditions before a firm intention could be made, including a funding agreement with SA banks for the debt portion of of the deal, the conclusion of an arrangement with a suitable black economic empowerment partner and irrevocable undertakings from shareholders with at least 45% of the group's issued share capital.
Metrofile has been restructuring its debt and disposing of non-core businesses following a strategic review of its operations. Although it has starting to see the positive effects of the restructuring, it reported a 29% decline in headline earnings per share to 20.5c for the year to end June. That was mainly due to once-off restructuring costs and a higher effective tax rate. Net finance costs also rose after last year's acquisition of Kenya's G4S Secure Data solutions.
The company is chaired by Christopher Seabrooke, who is also CEO of investment group Sabvest. Sabvest owns a stake in the company. Its CEO is Pfungwa Gore Serima. According to its website, it is 57.4% black-owned and its biggest shareholder is empowerment partner Mineworkers Investment Company, which owns a 37.24% stake.
Its shares closed unchanged at R2.30 yesterday. The announcement was made after the close of trade.
Edited by Motivated, 12 December 2019 - 10:24 AM.
Member
Posted 12 December 2019 - 09:53 AM
Well done, hope you've banked some it my opinion and know many don't agree but cash in hand better than a dream that disappeared
Thank you Midas!
Not yet because they pay out big fat dividends ....................
Plus the American firm wants to open up a Company here in SA......
I think this share will grow alot more...
DATA storage & removal....its Big at the moment...
Sage
Posted 11 December 2019 - 05:51 PM
Member
Posted 11 December 2019 - 04:36 PM
Hi,
I am so glad I bought metrofile shares ages ago. I was in a loss for a long time (couple months but held on - FORTUNATELY).
I see the shareprice surged 2days ago due to an American company wanting to acquire it
Finally in the green again.
