Daisy the IT service provider is in a much better state than it was a little while ago as it is as feared that it would not be able to survive due to a variety of reasons. The result of last year’s trading that has just been released shows that there has been a 30% increase in the price of shares. An offer has been put in to buy the company and the offer is for 190p per share and while there would have been a mad scramble to close a little while ago, there has been trading at a rate higher than that and shareholders will do well to think about holding out be a better price and seeing what the future brings.
Comments have been made suggesting that the attempt was to get the company for a more than good deal but the consortium that put in the offer – made up of Penta Capital, ToscaFund Asset Management and Matthew Riley who is the CE at Daisy – already has a good proportion of the shares – 51.5% to be exact.
If the latest report is to be believed, the offer that would have sounded amazing last year falls well short of the latest report into the state of Daisy. Since then, cross selling has improved and according to Liberum Capital Daisy has become “an attractive target” and owners have been advised that they should aim for at least 215p per share.
One man who will be happy about the increase is the Finance officer at Daisy, Steve Smith as he made a great investment buying nearly 30,000 shares when the price was between 141p and 151p per share. Whether he decides to sell or not remains to be seen, but the way things are heading for Daisy he may find it beneficial to keep hold of them for a while and see what the price rises to this time next year.
It would be wrong to say that on today’s reckoning things will always be fine for Daisy as there will always be something that has to be overcome and another change that will need to be made. The market can change as can the regulatory system or working but things do look good at the moment and staff can be assured that if things continue the way they are the future is bright for Daisy and they are there to go on the journey.