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VOC, VOCUS COMMUNICATIONS LIMITED
nipper
post Posted: Jul 4 2019, 06:37 PM
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The Telco no-one wants

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2019 has been a rotten year for Vocus with EQT and then AGL both walking away from suggested multi-billion dollar bids after not even completing the due diligence they asked for. That was two years after private equity firms, Affinity, and KKR, walked away from deals to buy Vocus after they looked at the books.....

https://www.sharecafe.com.au/2019/07/04/spu...retail-breakup/






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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Jun 11 2019, 09:27 AM
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Life after all
QUOTE
... has received a non-binding takeover offer from Australian utility AGL, valuing it at about 3.02 billion Australian dollars.

AGL said it has offered $4.85 a share in cash ... & granted due diligence access to the books for four weeks to allow it to potentially make a binding offer.




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Aug 25 2018, 05:15 PM
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Reported elsewhere, and likely to be true
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Vocus Group shares rallied 7 per cent in response to its meeting guidance on underlying EBITDA. In fact, underlying EBITDA as reported a year ago for 2016-17 was $366.4 million. But in 2017-18, investors would have read that underlying EBITDA rose 7 per cent – to $366.1 million. How? That's off a base of $342.6 million, which is the "adjusted pro forma" 2016-17 number. Underlying profit fell 17 per cent.

Vocus' revised guidance issued in February for the 2017-18 full-year was $365 million to $380 million. Statutory EBITDA was $360.4 million. Significant items and below-the-line costs made up the difference (an NZ divestment, the KKR/Affinity defence and key redundancies)...




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Feb 21 2018, 08:28 AM
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in the Bad Corner - another downgrade + dividend cut
QUOTE
chief executive Geoff Horth insists the telecommunications business can deliver growth long term, despite a cut to full-year guidance and no dividend for investors.

Higher than expected subscriber acquisition costs and weaker than expected energy sign-ups in Vocus' consumer business were the main catalysts for the surprise downgrade.

The telecommunications group, which endured two private equity firms walking away from potential bids last year, expects full-year underlying profit to come in between $125 million and $135 million, or about 10 per cent below its earlier forecast for between $140 million and $150 million.

Expectations for underlying earnings before interest, tax, depreciation and amortisation (EBITDA) were cut from between $370 million and $390 million to between $365 million and $380 million.

Investors punished Vocus, sending shares diving 10.1 per cent to $2.58. Vocus shares traded as high as $9.29 in May 2016 and were $4.13 just a year ago...

Read more: http://www.afr.com/business/telecommunicat...p#ixzz57gqX5vap



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: early birds  
 
nipper
post Posted: Jul 5 2017, 11:21 AM
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The Vocus board will allow private equity firm Kohlberg Kravis Roberts (KKR) into a data room to evaluate a $2.28 billion takeover bid. KKR lobbed an indicative and non-binding $3.50 a share proposal in early June just as Vocus management was preparing to outline its plan to turn around the ship to investors.

The deal is on a non-exclusive basis and the independent board committee led by Vocus's independent chairman David Spence is hoping that granting KKR access could prompt other suitors to show their hand.

QUOTE
Mr Spence said that letting KKR conduct due diligence didn't indicate a lack of faith in the strategic plan laid out by Vocus's management.

"The Vocus Board believes that the management of Vocus has established a strong strategic plan which will deliver value for shareholders both in the short and medium term" ... "While we are confident that the management team can deliver on the strategic plan, we believe it is in the best interests of shareholders to grant KKR due diligence to explore whether a potential whole of company proposal is available that takes into account the benefits that the plan delivers."

- Mr Market hasn't been that impressed; since 07 June, any run-up has been sold off, bit by bit, and is below the $3.50



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Jun 23 2017, 08:52 AM
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Vocus co-founder James Spenceley is believed to have teamed up with TPG Capital to weigh a potential takeover of the telco.



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 

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rog
post Posted: May 4 2017, 09:12 PM
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In Reply To: nipper's post @ May 4 2017, 04:27 PM

Brokers tend to give advice after the event; not an unreasonable move for a business not known for its accuracy however could trigger larger sells.p



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With money in your pocket you are wise, you are handsome, and you sing well too.
 
nipper
post Posted: May 4 2017, 04:27 PM
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Here's what major brokers said as they cut their ratings on the stock today:
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Deutsche Bank — cut to hold from buy; target price cut to $2.23 from. $7.05
"Vocus' trading update revealed weakness across all divisions. While Vocus is on track with its acquisition synergies, management has to incur more costs to improve service delivery, processes and technology platforms." – Craig Wong-Pan

UBS — cut to neutral from buy; target price cut to $2.60 from $5
"Post earnings downgrades, Vocus' implied valuation metrics have remained fairly static. However, with additional balance sheet concerns emerging, and based on our revised earnings forecasts and guidance we have lowered our price target to $2.50 and our rating to Neutral from Buy." – Eric Choi and Tom Beadle

Macquarie — cut to neutral from outperform; target price cut to $3 from $5
"This was a very disappointing update, given the size of the downgrade realised over a short period of time (guidance was last reaffirmed in late-February). "It is difficult to have confidence in the nearer term outlook and implementation across the Group given ongoing integration challenges." – Macquarie analysts

Morgans Financial — cut to reduce from hold; target price cut to $1.97 from $3.64
"There is long term upside risk and corporate appeal in Vocus; however, it appears to us that the share price could worsen before it improves." – Nick Harris and James Barker.

a bit late, chaps




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: May 3 2017, 09:30 AM
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In Reply To: nipper's post @ May 3 2017, 02:04 AM

- probably will open sub $3 .... but I wouldn't look for a bounce.



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: early birds  
 
nipper
post Posted: May 3 2017, 02:04 AM
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Vocus has unveiled its second profit downgrade in the space of less than seven months, slashing its forecast for underlying earnings from between $205 million and $215 million to $160 million to $165 million.

The trading update was released after the market closed.



--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
 


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