Good morning! It's Paul & Jack here with the SCVR for Friday.

Timing - I have to down tools now, to get my first covid vaccine jab. So I'll sign off for the day, today's report is now finished.

Agenda -

Paul -

Idox (LON:IDOX) - Bid talks fall through. Announces a small disposal. Prepare for a bumpy day, as the bid premium unwinds.

Ten Lifestyle (LON:TENG) - Lacklustre update, obviously impacted by covid, since it provides a concierge service. Doesn't appeal to me at all.

Audioboom (LON:BOOM) - signs of life, but still loss-making. I review the FY 12/2020 results. Good outlook for 2021.

ZANE - update on my favourite charity's annual (online) conference, which I attended this week. Thank you to all the Stockopedia readers who support this wonderful little charity that saves the lives of the most vulnerable people in Zimbabwe.

Jack -

Cml Microsystems (LON:CML) - semiconductor developer with mixed historical results, disposal of non-core division and investment in core products.

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Paul's Section

Idox (LON:IDOX)

71.8p (pre market open) - mkt cap £319m

Disposal - IDOX has agreed to sell a Dutch consultancy subsidiary for up to a maximum of 8.14m Euros. That’s insignificant to the market cap, so let’s move on.

Bid falls through - a statement was issued last night by Dye & Durham, saying that it does not intend to make an offer for IDOX. The problem with these situations, I find, is that the news is issued by the potential bidder, hence often doesn’t come up on the newsfeed for the target company.

The Stockopedia newsfeed for companies does however pick up third party summaries of news, which is really useful, and at 18:45 last night, a news item cropped up on IDOX, saying;

* DYE & DURHAM LTD - AFTER CAREFUL CONSIDERATION, IT DOES NOT INTEND TO MAKE AN OFFER FOR IDOX PLC
* DYE & DURHAM LTD - CONCLUDED THAT IT CANNOT SUPPORT ACQUISITION OF IDOX AT PRICE CONSISTENT WITH THOSE ORIGINALLY CONTEMPLATED



To my mind that sounds bad for the share price today. It sounds like the bidder has gone through the books, and decided it's too expensive. There was clearly a bid premium baked into the share price, as you can see from…

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