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You need to learn to read an RNS my friend. ABC's declared holding has reduced.
RNS ABC up to 19.47% from 17.58
Sorry guys its a done deal, look at the amount the top bods have in shares, they will walk away with wheel barrows full of cash and you get peanuts. Its been happening to the AA for the last 20 years, there's a lot of business men bought their houses, yachts etc from the AA ,nothing different here, except it and move on.
Things will become alot clearer in the next week or so imho. Cleveland have started to convert CFd's into shares so I'd expect them along with ABC to vote no. I would have thought that they would have a plan B but let's see what unfolds. One thing I can assure you of AA will not be sold for 35p
So what happened there yesterday with the big buy / buysof £8m at 34p?
Is that 1 or 2 big buys at 34p and who would be buying now at this price, does someone have inside info on a higher bid of 40p?
Would / could it be ABC building their stake even more. or was that just a mistake.?
Now its a lose lose at the AA.
Jed... this is simply not the case... i used to run a division of a plc.... nothing will happen now until the deal goes through at 35p. They do have to wait to sell at 35p to get their money as otherwise the BoD will have legal proceedings against them if they sell, get the cash and don't declare. The real debate is can people sell at 33p+ and make up some of their losses rather than wait until the deal goes through at 35p. PLUS the largest shareholder owning 20% has said it will vote against the deal. That is interesting as if it doesnt go through, then the risk of it going under is high - so the largest shareholder needs to persuade another 5% to vote against plus get an alternate in place at a higher price. So I think the largest shareholder is probably looking to cut a deal with the VC's for the other 20% pre vote maybe. But in all events, this seems, to me to be a lost cause. You takes your money now and invest in something else or you wait till January for a marginal amount more.
Ruined by PE and the ex nutter of a CEO punching out his finance director. Lived in hope but now 99% of hope is gone.
The offer now is 35p and at any time these big shareholders can do a deal and sell their shares for that money, it happens all the time in business behind closed doors well this can happen now with open doors. They don't have to wait until the vote to sell that's just a agree a full takeover by all shareholders, but most / many will not even bother to vote.
why do you think they can sell now at 35p?
Yes I understand all that, but the 35p offer is on the table now for all the institutions and large shareholders who want to sell so why haven't they sold already / now at 35p . Why are they holding out.
If it gets to the vote date and the offer has already been taken up by say 60% then it would be a sure thing. So why are they NOT selling now?
IMHO this will go through at 35p or go bust. The reason companies are buying is either to close their short at less loss (as they no longer think it will go bust as they think 35p will be accepted) or because if you have eg 1m shares now you will make 17k by mid january when it rises to 35p. Appreciate that largest shareholder says it will vote against the deal but it seems to be the only thing on the table. No-one wants massive debt they cannot service in current market; that is bottom line. Ruined by PE loading with debt. I was stupid and compared valuation to RAC which was very stupid when i bought in. Kicking myself but hey ho, live and learn. Stay clear of anything that PE has brought back to market. Rule no 1! as all the value has been stripped.
What are we now about 3 weeks of the offer and every day we keep getting all these company / institution holdings breakdowns, and in all honesty none seem to be selling out for 35p. surely they can sell now and take the offer if they want for 35p can't they or Is that because they have to hold until the vote or are they holding because they think the offer might go up ?
As I'm still in the share save scheme I'm buying as normal each month knowing I'm more than doubling up if the 35p goes through, help reduce my average.
Well if the general view is this will go through at 35p I might as well wait another 2 weeks and get my 35p then, am not selling at 33p.
The only hope of something better than 35p is if someone else is interested in bidding. If not, the stark choice is between 35p now, and a drop to 15p with an uncertain future (given that the lame duck BOD has thrown in the towel on refinancing).
But it shows that they haven't yet sold out for 35p, and all the time they are holding their stake there must be a good chance of a higher bid as the deal will not get the 75% and will not go through . I think a good sign.
I see thatABC has converted 15million plus to ordinary shares - is this a good sign or merely a paper transaction ? Anyone with better knowledge than me have any thoughts ?
Thanks
T
cant find ALPP
cashed some yesterday ..going into ALGW ...still have 31666 shares left ..until monday ..then gonna move more into ALGW
Sold AA and lost £500 last month and its the best decision ive ever made. Do your self a favour. Cash this ****e and buy ALPP. Up 128 % in 3 weeks. Cant believe the dreamers are still here thinkin this will hit 40p. Hilarious. Get out! its the worst stock going
sorry to hear that it will not cheer you up to tell you it took 2 years for my transfer/ payment from Fidelity ..
what about that 500000 buy later on
90k buy. And a take over awaiting news.. time will tell... 40p in the distance
What a relief to sell out this morning and caught the RCH bus. Was going to do it at 1.25 a couple of days ago,but was just hoping so today after the update, tried the adage Buy sell regret and grow rich . Good luck to the holder's.
I still hold my AA shares.
Undecided whether to sell yet.
However at the moment I cannot as I am midway transfering my ISA to IG from Fidelity.
Any changes to the ISA will delay this and roll it back to the start. I initiated the transfer last month.
COUNTLESS emails, phone calls, hours waiting in the phone queues and conflicting information from BOTH parties. It's made me very anxious and stressed at their complete incompetence to a simple transfer.
Not being able to speak to either transfer team directly and having to be the middle man between general help desk people who out right lie to you is nothing more than a comedy sketch.
After demanding evidence of what both parties have done to complete the transfer, seems like Fidelity are mainly to blame.
If you want to transfer an ISA between companies.. Good luck! OMFG WHAT A CLUSTER F*CK.