It's probably just as well that I never use spread bets (as mentioned in my last blog re:Angle). I was anticipating bid news from the company this week, and a sharp rise in the share price. At the very least I thought that a trading update may materialise today. The AGM is scheduled for 2pm. As yet the company have issued nothing, although the day is young!
I suspect that the company may make a bland "we don't comment on market rumours" statement at the AGM if questioned, but it does seem odd that they haven't made an outright rebuttal since it's a very small company and bid rumours aren't normally a daily occurrence for these small caps. Why not just state outright that "the company is aware of the persistent rumours printed in the Times, but can categorically deny that the company is not currently in bid talks". It's not that difficult surely. This isn't Vodafone where rumours of a sale of Verizon Wireless cropped up quite regularly. Although of course they did prove to be well founded in the end.
It will be interesting to see if the days events do shed any light on either bid interest or further developments re: Parsortix.
I certainly haven't changed my view about the bid rumours though, until I hear a flat denial by the company I continue to believe it may just be a matter of time.
Needless to say, I remain a long term holder, and await further developments.
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