Impax tender April

Numbersup

Despite making a good start to the year in recovering a bit of its downward trend, partly maybe because of the first tender offer , Impax has lost 10% in the last month, 1.5% in the last week. With the war appearing to overall be escalating despite Trumps assurances of near deals etc , how wise or not do folk think is it to gamble that the NAV its claiming to bring the exit tender close to, will be a better offer than selling now on open market? (taking into account too,that the managers are said to all be going to sell their shares at the second tender) .Im not sure what the latest date is that you can give instructions to sell although votes have to be in by around 10th April depending on the platform.

Albermarle

Interesting to see this as I have not received any notification of a corporate action from the platform I hold Impax on ( Fidelity) . They did inform me of the previous one.

When were you officially informed by your platform ( as opposed to just reading a press release from Impax) ?

Regarding the price, it has pretty much followed the decline of the FTSE 250. So to some extent the question of whether to sell or not could just as easily apply to any FTSE 250 holding.

Although with a discount of 7%, it would normally be better to wait to get the NAV.

Numbersup

I got letters on 18th March direct from Impax and emails on 26th March from both Iweb/Scottish Widows and HL ( I hold some in a child trust and some of my own) . Suppose it depends on how close to the NAV reveal date you have to decide to sell or not as to which is going to be better.

Incase you dont have help from your platform re the vote etc, in the letter from Impax it gives guidance info from half a dozen platforms, but Fidelity isnt one of them. It also says if you need further guidance you can contact DF King at voting @dfkingltd.co.uk or the registrar MUFG corporate markets on 0371 6640321

where_are_we

Got email from Scottish widows today informing me of General Meeting on 16th April. Have to give my voting for Resolutions by 10th April. I will be waiting to get NAV and not selling now. Performance has been dire and analysts are recommending it as a strong buy.

Numbersup

Why do analysts say they think it will improve? I asked AI if it was the case that surely Saba would want to make money for themselves if they took over and changed the parameters , so wouldnt it be good to stay in the fund , and it answered that they could engineer it in a way that benefitted themselves but not necessarily the 'ordinary' investors. (which is kind of what poster TelltaleChart commented on an earlier post -that their ability to charge more clients was more important than the fund share price improving)