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

I look in now and again. I've been holding since 101p, so I'm very pleased indeed. I'm looking for 135p by year end.

Good for you ironnick151157! I got in at 108p so a little behind you but still willing the price on! I think that this one has legs and although not as sexy as some of the oil exploration stocks at present it could surprise a few people (hopefully!)

Looks like you're going to get your 135p ironnick!!

ironnick - you're pretty much there. You selling or staying put?

Q, Sorry for the delay in getting back to you. I've been away for the past two weeks and couldn't get near a computer. On the ADVFN board the have been some very positive comments as well as from Robbie Burns, on his site & in the Sunday Times. I'm still holding out for the 135p, but will have another look at where I think it's heading, when it gets there.
Cheers,
IN

No worries - I hope that the break was on a deserted beach somewhere in the Pacific!

I wish it was. Unfortunately I broke my both legs in seperate accidents whilst training for my next Ironman race. Had to go away to get them fixed.
IN

Nightmare! Sorry to have brought that to the surface. I'm hoping that you are okay now but if you do the Ironman races then I guess you're made of pretty stern stuff.

LONDON (AFX) - Fenner PLC told shareholders at today's AGM that, with strong order levels and buoyant demand across most operations, the outlook remains unchanged for an improved result for the six months to February 2005.

Chairman Colin Cooke said the group is confident of further progress in the remainder of the year.

He said the weakness of the US dollar continues to impinge on profits in the specialist polymer operations but these businesses continue to grow, especially in the area of silicone hose products.

In addition, the group said the worldwide resurgent demand for coal, at significantly higher prices, has sustained the high level of orders for the company's heavyweight conveyor belting products - particularly in North America.

As expected, however, it said raw material input costs driven by high oil prices, supply constraints and unprecedented demand present a constant challenge to the company's businesses.

Nice tick up again today - is no-one out there interested in this little gem?

very interested but no money at present!!

Well keep watching moneyplus as I'm hoping for great things from FENR!

Queen,
Where do you see this going? I had thought it would level out at 135, but it's gone past that.
IN

Well, have breached the March 2002 level of 140p and the next resistance seems to me a re-test of the March 1998 high of c.220p. Now, that would be nice!

LONDON (AFX) - Speculators had a crack at Fenner, 3 pence firmer at 145-1/2, amid talk that Brown Shipley has received a 160 pence-a-share offer from a cash-rich US conglomerate for its 11.4 pct stake in the conveyor belt manufacturer. Traders say that, in the event of a full-blown bid for Fenner, a take-out price would have to be north of 200 pence.

This is from the end of last week. Looks exciting and if events head in a bid direction my prediction of 220p may not be too far wrong. Now wouldn't that be nice!

A new high - go on my son!

LONDON (AFX) - Global engineer Fenner PLC said it plans to raise 54.1 mln stg in a placing and open offer at 127 pence per share to fund the 44.6 mln stg agreed bid for Wellington Holdings PLC, announced today.

The offer for Wellington is on the basis of 123 pence in cash plus 0.456 new Fenner shares, valuing each Wellington share at 185 pence. Alternatively, Wellington shareholders may elect to receive a full cash alternative of 180 pence for each Wellington share.

Fenner has received irrevocable undertakings and letters of intent to accept the offer in respect of 15,431,094 Wellington shares in aggregate, representing approximately 64.67 pct.

Fenner also released results today for the six months to Feb 28 2005 which showed pretax profit more than doubled to 3.6 mln stg from 1.6 mln a year earlier. It said the outlook is positive and volumes remain strong in most major markets.

Fenner said that with the purchase of Wellington, the enlarged group offers the potential for technical synergies, cost savings and an attractive platform to acquire other international businesses.

Wellington and Fenner have also been exploring the possibility of establishing a joint venture in China, which would enable Wellington to exploit emerging opportunities for its products in the energy markets.

In addition, the Fenner directors believe the acquisition of Wellington to be a low risk expansion opportunity for Fenner as the Wellington Group's sales are well diversified geographically, which the Fenner directors consider provides protection against a downturn in any one territory.

The Fenner directors said they believe that the acquisition, taking into account the full effects of the placing and open offer, would be earnings enhancing in the first full year of ownership.

The Fenner board also said today that it is in early discussions with a number of potential acquisition targets, but there is no certainty that any of these potential acquisitions will be successfully concluded.

The improved balance sheet strength and scale of Fenner after the acquisition of Wellington together with the maximum net proceeds of the Placing and Open Offer of approximately 19.6 mln stg would enable the Fenner Group to actively pursue its acquisition strategy, it said.

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