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Will you buy my shares for 35p?
Bidco aka Goldman should buy your shares for 34 to almost 35p. In the mean time we hope for another buyer. That could make the share shoot up again.
If there is no other interested party we vote no and suffer a short term collapse and refinance. The shares should easy rise to 60p and a credible plan back to 200p
no i mean the sp to increase up to 35p so i can sell out before january .so as i dont have to wait ..
Why would somebody pay you 35p for your shares in order to collect 35p in January? There is nothing in it for them...
well lets hope it goes up to 35p before then
You dont get the 35p until it has been passed by a shareholder vote. This appears to be sometime in mid January.
wheres my 35p ??????
May be of interest .. as i said before 90% rule unless stated otherwise ..... Once the acquiring company has obtained at least 90% of the shares it is offering to purchase and has gained acceptances of 90% of the voting rights held by those shares it is offering to buy, it can embark on a Compulsory Acquisition. This requires the remaining shareholders who haven't yet accepted the offer to sell their shares on the basis of the same terms as everyone else who accepted..
So announcement was made on the 25th November, they have a maximum of 28 days to co-ordinate the Scheme documents.
From there, a vote by shareholders needs at least 21 days notice
From there, need a court hearing date, which could be another further 10-14 days,
And day after court hearing, it is confirmed, they have a further 14 days they are obliged to pay out the shareholders.
So maximum 28 + 21 + 14+14 = 77 days. These are all calendar days. so 2-3months max. It can be shortened as the first step (28 days can easily be shortened, and usually is) but the other dates are difficult to change. So 50-75 days is the range (from 25th November)
We have to wait for the Scheme Document to be released, which should be forthcoming soon. Then, there will be a vote of shareholders 21 days later, and if approved by 75%, will require a judge to approve at a Scheme hearing. Then cash will flow. So minimum of a month time, could be longer.
They still need the bid to be voted on and approved. If approved, that's us bought out at 35p per share.
They're currently committing many more millions into the deal by buying up everything they can get sub 34p (I wrongfully thought a couple of hours ago it was the Germans who were buying in but I didn't spot the Barclays RNS or the amendment).
At the moment they still have a long way to go to ensure their bid is approved but the more money they commit to this, the lower the risk of the deal falling flat which is good for the remaining investors. In fact, the more of their cash at stake the more motivated they'll be to amend their bid if the deal seems to be at risk.
??
Just wondering, what happens now. Do we get paid 35p for per share and when does that payment happen, sorry I am new to investing . Could someone guide please
The probability of 35p is far higher than probability of higher than 35p, just lost faith with bod. They not trying harder. SP had been held for last 4 months, not pricing any vaccine news, revenues profits are Not bad stable, if the Sp priced the vaccine news would have been bit higher, cld have done a RI raised some cash payed those debts, refinance it. But board did feck all. Think lot of investors would have taken if RI was done rather than 35p. Pe is just gonna make easy money on this deal With eyes closed
So the French and Germans are the ones buying up AA shares at 34p.
Let's be realistic, they're not risking millions for a 1p spread.
It does seem a shame that this forum has been over run by bitter and twisted either patrols, or ex patrols.
I am an ex patrol, and I retired when the retiring was good. Yes I was fortunate when I sold my Share Save AA shares I got 60p a share, yes I did lose. However I managed at a later date to buy back in at 15-16p a share, then resold at 40p or there abouts. I may have balanced any losses, but that was that.
The interesting thing is though, should The AA have stayed as a member owned society?
Also the issue in my mind that really needs answering is how SAGA ended up with a fleet of cruise ships, and The AA ended up with a muli billion pound debt?
Well thank you I didn't notice , I was too busy ranting which made me feel better anyway.
jedclampits happy birthday today he reached 2000. lol
Why did you sell and not hold to see what happens?
Outta here after holding for last 10 months bod just utter ****, PE and bod the real winner here shareholders just deep f..ked
when do i get my money ffs
I have sold my 107832 shares today with a los of £2700 f...k the management. They can only run a f...king teapot not a company
There is a long way to go at the moment to achieve the 75 per cent acceptance needed. Maybe wishful thinking, but I can't see that happening, as I guess the large shareholders e.g. ABridge must have bought at much higher prices than 35p.
We will see
As an ex AA employee i can only say that since Simon Breakwell and his totally inept management team took control the company was on the road to disaster. One of the worst things they ever did was to close down the Field Sales Team and remove the public face of the AA from the streets. Sales clearly suffered and public confidence dropped. Like many others here i was part of the company share scheme and this represents a huge loss.
Unfortunately over the last 10 years the whole of british business has gone down the route of short term low cost and short term quick profits, with ver few british companies wanting to put their hands in their pockets to buy and develope british companies.
Just look at how many british / well known companies have been bought out buy international companies that are prepared to invest large sums of money to develope the businesses for long term gains, and then sell for profits.
Until we have companies / directors that are prepared to put money into british companies for long term gain companies like AA will keep being snapped up by people / consortiums for quick turn round profits, because that's what's going to happen with AA in 2 years time and we the current shareholders are the one's that will continue to lose.Vote this down.!!!
Long term holders must stop this deal that undervalued the AA under the Covid-19 drop. Vote NO and hold out for a bit more. By the time of the vote we could have a post Brexit boom so it with my stay low for too long.