"Perhaps it is just me but I'm amazed at the number of disposals at this level." ===== I assume mostly people who are unwilling or unable to wait until Sept 2015 for their second tranche. But that timeline isn't set in stone: if they can do a deal via an insurance scheme or similar for a modest outlay, the second distribution could be later this year.
Here patience pays
RE: Disposals at 12.1/12.225p
Should have read I'd have thought that taking 1.1/1.225p excess
Disposals at 12.1/12.225p
Perhaps it is just me but I'm amazed at the number of disposals at this level. Given that there is 11p guaranteed in early September and that the balance paid within a year or so, I'd have thought that taking 1.1/1.225p would have been the worst possible option. The likelihood is that the remaining funds to be disbursed will be 2p, 3p or even 4p and this would allow a return of around 100% to 250% on the excess over 11p in a year. Of course there is the chance that nothing would be paid out however given that the current management has already delivered I'd put faith in them completing the job. Good luck to all those who remain
Certainly is, with his share of the voting rights it would have effectively been a veto. I'd seriously doubt there was any inside info on a run-off schedule, more likely that this was seen as the only sensible option given that the business is now just an empty shell, and shareholders (including PK) will want their money out sooner rather than later. I doubt the irrevocable will speed things up (shame) given the level of shareholder support required (if it were 50% then a couple more would save us the wait until after 30/July) but it's good to know the veto is off the table.
16 Jul '14
It's good to have confirmation that the delisting resolution won't be thwarted by the biggest shareholder. I wonder if he got some inside information about the run-off schedule…?
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