$JSEART Argent Industrial acquires Ramsden Group
Manufactures and repairs steel drums, has some adjacent products/services too.
Purchase price: GBP10mn (~10% of MC)
5.5x P/E after adjusting for acquired real estate
Nice to see them using their vast net cash position!
@ChesleyCapital Their own 'cash available for distribution' metric is a good starting point. Then adjust for recent acquisitions to get to a normalized figure.
@cavdad13@CJ0pp3l The system was already in place. The stock price just needed to be below a certain figure for the broker to start buying back shares. So yes, coinciding with the drop.
@cavdad13@CJ0pp3l It's an automatic buyback, their broker just buys stock within certain parameters, so I wouldn't read into that specific fact too much
Not too familiar with the technicalities of automatic purchase plans, so they might have had no choice but to let it run.
Otherwise a great signal that there might be no additional fallout.
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