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This is simply to indicate that (should the CVR of 5p ever materialise) you would like that amount as cash or a loan note. Receiving the 5p in cash is the default position. I assume you are up to speed with the whole affair re FTO and the offer they have made to current shareholders.
just received an Scheme of Arrangement from fto. at the bottom of the page it has 2boxes. OPTION RECEIVE CVRs (DEFAULT) NEXT BOX ELECT TO RECEIVE LOAN NOTES.. I am a private investor in fto for many years. I feel like everyone. Could someone let me know which boxes to fill in as I really do not understand any of this.
Cheers del will look and see what I want to do gla
That post below should read 11th of February not 13th....
Del44 Am also with Barclays and have just called them to register a no vote.
Both proxy forms need to be in by 14:00 hrs on Wednesday 13th of February for voting record time of 18:00 hrs on same day.....
Hi cipro... That is the offer price...If you sell tomorrow you will get the bid price which is currently @ 9.76p......plus you will have to pay broker commission on that as well....It's your financial decision.....:-) Good luck...
Now 99.9 is it worth selling now as you are not getting anymore and you won't have to wait for the check I'm taking a small hit but could do with the other5p fnx
paul1862.... This from a post on the 28th of January on this bb.... i am with barclays and just contacted them via secure message in corporate actions section and gave my No vote instruction , they replied within 24hrs confirming that they will register my vote at the upcoming meeting. Good luck....
I requested HL to register my "NO!" votes 10 days ago, which Ellie Bryant subsequently confirmed she had done. I then asked her if she could give an indication as to how HL would be voting, to which she replied that HL held a number of shares "on behalf of numerous clients" and therefore was unable to disclose how their votes would be cast.
Thanks Del. There was no mention of a vote on the email I received from Barclay's... assume this is intentional? I will give them a call and see what they say. Overwhelming feeling seems a no vote is the best way forward?
Anybody wishing to vote online can do so at https://www.capitashareportal.com/forms/Welcome.aspx You need to register and have your share cert reg numbers to put in..... Good luck...
Cheers for that input shakeyb.....
Hi paul1862...If the vote for the scheme is 75% or over ...the result is binding on ALL shareholders, regardless of weather you voted or not.Those on the share register by the effective date, will receive a cheque (shares held x 10p each) in the post about 2 weeks later for the shares held on that date plus a cvr for each share (more then likely valueless according to the independent directors..allegedly)held. Some of us invested in FTO are trying to gain enough votes to stop the scheme from progressing... If you can vote...vote.....Good luck!!
A couple of weeks ago I tried to work out how many shares the Institutions held and how many PI's held. For what it's worth I came up with 688m (26.6 %) for the Institutions and 426m (16.5 %) for the PI's in round figures. The other Institution holdings I used that you have not mentioned were as follows :- JTC China North Ind. Maoming Petro Cord China Nat Elect INP&Ex China Nat Aero-Tech Kerry Hldgs (KUOK) (HSBC Global) ? FM RLLC/FIL LTD Barclays Hargreaves Landsdowne HSBC How they will vote is anyones guess but if I were in their shoes I would want 15p cash minimum. No doubt they talk between themselves and with the CP but all we can do is hope as many as possible PI's vote against this unsatisfactory offer.
Hi, I hold some FTO shares and have received an email about a “Scheme of arrangement”. Could someone please explain what is/has happened here for someone who is a very inexperienced shareholder :). Do I have to sell my shares? Many thanks in advance and apologies for my lack of understanding!
Creeping up towards the 10 p valuation. Let's hope if the vote is a "no" there are no resultingshocks in store !
Thanks Del44 , I pop in on this every now and then and have a peep on postings. I do hope the 75% is not hit and hope that all holders vote as this may be a close call. I would expect the bidders to come back with an increased offer ; I reckon circa 12p now with 3p CVR. I do think the 15p price point is bid for a reason so my logic is the mix will be tweaked to ensure more vote in favour. All guesswork but now my remaining colours are pinned to the mast of the good ship Rejection I may as well muse as to what will happen in the comming weeks.
Alan has asked me to post the following on here.... "Does anyone know who the institutional investors are and how to get hold of them ?" The following we have listed already... Nikko Asset Management Asia Ltd. as of 05 Jan 2015 Bank of Singapore Ltd. as of 05 Jan 2015 Talos Securities Ltd. as of 05 Jan 2015 Premier Fund Managers Ltd. as of 18 Dec 2014 FIL Investments International as of 01 Jan 2015 TD Direct Investing (Europe) Ltd. as of 05 Jan 2015 FIL Investment Management (Hong Kong) Ltd. as of 28 Nov 2014 Thanks for any help in advance....
Regarding the letter, this was posted on III today. (I do not myself post on the board) Can I suggest that it is unlikely that any reply from Frank Attwood will be forthcoming prior to 13/2/15, since he and FTO will obviously want to take legal advice regarding the content of any reply. I would have thought that any challenge to the terms of the offer would have had more impact if it were raised at the court hearing. I emailed both FTO and VSA Capital several weeks ago on a number of points but have obviously been ignored. By Jag3 The purpose of the letter is to first and foremost register our concerns. Not necessarily to illicit a response from any independent board member of FTO at this stage.
Thanks DELL as ever for a speedy and informative clarification. We'll see where it takes us!
Usually you just click on the document icon and it will ask you where you want to open it...Its only a pdf document....
There is definitely a lot of passion across the various boards. Fortune offered a lot of promise over recent times and the long suffering pi's are getting a raw deal. I hope the bod are not counting on apathy to get themselves over the line ...!
Cannot open it to read.
The current position in respect of the letter is that it will be sent only once, to register our clarification and concerns. So no at the moment the letter sent will express my own concerns...and at this stage, one letter is enough. the email is .... fo@minorityaction.co.uk