Dull business but cracking chart, great dividend and ad hoc takeover rumours. I'm happy to settle for that kind of dull!

Queen,
Just got my letter with details of the open offer. What do you think? Opinions anyone?
Cheers,
IN

ironnick - I still think that FENR is ripe for being gobbled up (probably by an American firm) and whilst waiting for that, the underlying business seems to be going from strength to strength. I for one will be taking up my offer.

Queen,
Many thanks for your prompt reply. I'm inclined to see it your way as well. I was going to take up the offer anyway, but it's nice to have an opinion confirmed.
Many thanks,
IN

Queen,
Sorry, I forgot to ask. I don't suppose you've seen any comment re the offer in IC or Shares? I was wondering what their take on it was?
IN

Hi ironnick, no I've not seen anything in either publication but would expect something in the Shares "Special Situations" section this coming week. Good luck with your holding!

Queen,
I didn't see anything in the special situations of Shares. The seemed neutral overall, but positive on future orders, which they couldn't see slowing down. They seemed to think the the $: exchange rate might be affecting them. I didn't see the IC.
IN

Thanks ironnick. There were a lot of holds & sells in this week's Shares mag, far more than usual. They seem happy to be following the market down at present.

Queen,
Not sure if you saw this on the other thread. It strikes me that you could top up a slightly cheaper if you didn't take up the offer. I have edited the post to make it a bit clearer.
"I have got rights at 127p; but 3 for 7 is a big capital ask. Fenner is a solid unspectacular yield play, so I am a little suspicious about a business that distributes a load of money in divis and then asks for it back. If nothing else (unless held in an ISA) this is tax inefficient, and smacks a little of poor forward planning. At the moment, I am not inclined to participate. I am therefore inclined to hold and see how price develops, but not to take up the offer."
IN

Interesting. I do actually hold these in an ISA but bought for the takeover potential, as well as the solid growth and good dividend. DYOR etc and each to their own :-)

I'm really surprised that no-one else is interested in this baby: it's got strong growth, a cracking dividend and an increasing exposure to the Chinese market. a winner on all counts with a rising sp!

Is anyone still in this ? Im thinking about it and would appreciate anyone elses views.

Cheers

QUEEN 1, I agree wholeheartedly.

EVILRATBOY, if you are not already in this stock. I would advise you to buy on any market correction that takes its share price below 1.80p. This a fast growing stock directly linked to the China's commodity and railway industries so its profits will continue to increase for several years. I have held them from 1.17p and will continue to do so unless China falls into a very serious recession.

Anybody else in FENR at present?

Any interest ..?

I've just been reading Fenner's preliminary results from november. I'm not great at understanding results so I may not be analysing it correctly. I like the dividend which is currently at 9%. They've increased it this year which suggests confidence. But I was a bit troubled by the amount they spent in acquiring companies this year. Long term it may be great but to pay for this their net debt at the end of the year is (according to page 14 of the results) 97.6 million from 36.3 last year.. They had an institutional placing earlier in the year I think when the price was much higher. This level of debt might be fine and quite manageable but some of it comes from bank loans from what I understand, that concerns me in case the banks decide to change the rates of these loans.

"Fenner PLC, the global engineer specialising in reinforced polymer technology, will be announcing its interim results on Wednesday 29 April 2009."

FT tipping this as a bombed out share with good potential, based on the assumption that all the bad news has now been factored in to the sp. Even disappointing results may not take the sp down much further.

Correction. One of the private investors who writes a column for the FT Weekend is tipping Fenner.

Correct. FT is a generic term, as all articles therein are written by individuals.

Quite a surge on this one.....very bullish update has probably done it !.

MoneyAM
"First half pre-tax profits at reinforced polymer technology specialist Fenner fell to 12.1m from 16.2m last time. Revenue increased by 28% to 257.6m, assisted by well performing acquisitions, and the firm is maintaining its interim dividend at 2.2p, which, it says, reflects confidence in its prospects.

Chairman Colin Cooke said the conveyor belting division - which represents 70% of revenue - had demonstrated resilience over the period.

He added: "There now appear to be more signs of stability with the effects of customer de-stocking coming to an end in some of the industrial businesses.

"This has not yet given rise to a significant increase in volumes but action has been taken to adjust our costs appropriately in each business."