Two ADVFN posts7 Dec 2017 10:42
From Plasybryn:
As I read this, there were two acceptance dates - 1st Dec & 15th Dec.
If the offer "from a substantial publically listed company to acquire the Company's 100% shareholding in ASA Headco Limited" as detailed in the RNS Update, dated 24th November, is accepted by the Joint Administrators to be a better offer than that of the RPI offer, then we all will receive that consideration shortly after the 15th or thereabouts. Of course we don't yet know the format of this "better" offer. Will it comprise of options? Say Cash or Cash & shares, or just shares? All should become clear soon.
Anyone else care to comment with knowledge of how these things work?
Response by Parkhurst:
Plasybryn, great question about format of the alternative offer. I reckon the alternative offer would have to also comprise a swapping facility for those ASA shareholders interested to stay in. It won't be long now before the offer has to be unveiled. Ning and Kwan have been behaving like corporate thugs. After they were fired they have been illegally providing RPI with sensitive management information they had stolen from the Company just before they left. RPI is guilty of flagrant market abuse by making the offer on the basis of information, that was not available to other shareholders. Then with the pre-knowledge of a better offer before the other shareholders were informed they went unconditional, thus bagging a potential 1p trading profit, should the other party win the game. RPI know a thing or 2 about shafting ordinary shareholders. Those of us who held on will be the real winners in the end, I have the feeling. I think an alternative bid would not have been possible without administration. Normally Administration is the less good option. But we're not in normal here: because of the obscenely low level of RPI's offer. I reckon the truth is around the corner, hold your breath.