Yesterday we finally got some action in shares and a real guide to company value on the market.
After trades in Pinewood Shepperton Shares mostly in the £100 level since the announcement in mid-December of the Malaysian Studio, we got some sales.
At 12:40 and then moments later at 12.41 pm there were two SALES of £191,840 and £ 497, 040. The sale price was £1.32 a share, which values the company at £60.75 million (still a mere £30.4 million to get control of the company and appoint a new Board of Directors).
But who was the buyer ? Who was the seller ? Was there one (likely) or more than one buyer ? Curiously the transactions were from the seller wanting to sell.
We await a Stock Market Announcement which by law has to come if shareholders exceed or go under specific percentages, e.g. 5%, 10%, 12%, 14%, 15% and crucially the high twenties. If any shareholder has more than 30% of the shares, they must reduce their shareholding or bid for all the other shares at a price not less than the transaction which bursts the 30% barrier.
If John Whittaker of Peel Holdings on 27% is buying, then a takeover really may be imminent. Anything may happen in the next half hour…..especially around 12.40pm when most people are going to lunch and slow to react.
John Whittaker is a billionaire property developer, and a truly noble slum regenerator and huge employment creator in The North-West and Scotland: Liverpool docks, The Manchester Trafford Centre, Manchester and Liverpool Airports, the new £4.5 billion Birkenhead development and the £1.2 billion Glasgow docks development, but also Media City and BBC North in Salford Docks.
Whittaker more than anyone has blessed The North-West and by his own efforts made a much bright media future viable for anyone from Chester to Preston. He has taken on London both in a bare knuckle fight and a chess match, and he has won. No honour is high enough for his outstanding service to his community.
If he is buying, then fasten your safety belt for an exciting ride which will finally demand huge media and political scrutiny. If he is selling, then this shows Pinewood Shepperton PLC and especially Project Pinewood is in real jeapordy of going out of business. We simply do not know.
It may be Crystal Amber who is buying (with 14%) and in it for either the land assets or a profit when John Whittaker or others make a takeover bid for their shares.
In 2007, 2008 and 2009 The FT and Daily Mai suggested John Whittaker was more interested in Pinewood Studios and Shepperton Studios land values than James Bond 007. However, he (or his four sons) may decide to move into movie-making. We have no idea and can only speculate. There are many examples of businessmen in the fertiliser, chemicals, the legitimate military weapons industry, toy manufacture, suddenly turning to movie making.
Businessmen turned born again film producers Arnon Milchan, Ed Pressman, Harvey Weinstein have produced PRETTY WOMAN, WALL STREET, ONCE UPON A TIME IN AMERICA, LORD OF THE RINGS, SHAKESPEARE IN LOVE, LA CONFIDENTIAL, ENTRAPMENT, FREE WILLY, UNDER SIEGE, JFK, PULP FICTION, GANS OF NEW YORK, CHICAGO and hundreds of other Oscar winning and nominated movies you have seen.
Cubby Broccoli , the 007 James Bond producer at Pinewood Studios, came to film producing after another business career in casket making.
So John Whittaker or his sons may have strong film making plans. Further, they could move much of Pinewood Studios production to Media City and The North-West and eventually around The UK as their property and transport empire expands. If Whittaker is going for Pinewood, it could be extremely good news for film making in The UK.
Whoever is buying and whoever is selling may or may not be in the know on Project Pinewood’a Appeal on greenbelt land in Iver Heath, or indeed an opponent of it. They may be ultra zealous foreign expansion policy….(it seems anywhere is in line except Britain and The EU), or much more interested in the regional UK expansion proposals put by us and Gisela Stuart MP. We at least hope they know of Gisela Stuart MP’s letter to The Business Minister Peter Mandelson asking if Pinewood Shepperton PLC should be examined by The Competition Commission.
Anything can happen in the next half hour.