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I am still holding. There was no point in selling a couple of months ago for 31p. When you can get at least 35p and no selling fees to pay.
What a ride sold all at 34p made a solid drink slammed it all into Reach and today made it all worth while.
Reach is rocking and tons to go. Dyor Happy and safe 21
I'm out, was getting to close to call so sold yesterday 34.4, would have liked more profit but that's life and I guess this could still go south.
I'm out, it was getting to close to call so out yesterday at 34.4, would have liked a little more profit but that's life.
As far as I'm aware there is no special/extra scheme for us the employees, yes a lot of us are not happy at all, some of us are still buying on the buy 1 get 1 free in the vain hope of breaking evans.
jed, admire your half full stance but the people buying are those clearing their shorts at a lower price to 35p. This will either go for 35p or go bust. If the latter they will still buy it off the administrators and chances are the retail investors will get zero as the company has 2bn debt and the banks will have first call. No-one wants debt in the current market. ruined by PE a long time ago.
langreen - your wife should ask the AA what the scheme is if any for employees given that the BoD have done over their employees - there may be some other scheme for employees with Topco shares to switch. Dont know but worth an ask. Otherwise they are going to have a very unhappy workforce.
langreen... the only people buying are the people who are clearing their short option which means they are looking for a lower price to buy than 35p.
Yes agreed. I sold out today for 34.5. happy this sage is over.
I am taking the Cash -
The problem with the Topco, you don't have any voting rights, and unlikely to be liquid. And there are limited rights etc attached to it.
But more importantly, if you take the Topco option - you will have to fund further cash into the structure. Check out the AAplc website and they outline the requirements. But big point to note is you need to put new money in.
Still lots of small buys going through so many are still expecting this to go above 35p. maybe 40p is on the cards.
Thanks for the replies I presume we'll all find out soon either way
Iangreen46 it is the private equity consortium who are buying via Bidco so the price is held.
I hope your wife and staff will all vote NO because we have pretty much missed the rebound in UK markets thanks to this deal... realistically our votes not going to make much difference either way. I have about 150,000 shares in this and could really do with 5p more!
T630 - 75% needed.
Kamm_25 - you brokers will tell you the deadline. Think HL deadline is 11 January.
Iangreen46 asks a very good question that I have been pondering. Share price on upward trajectory. No best and final offer by consortium. But DK keen on hoovering up shares at 34p. Also third parties buying at that price. Ultimately will be decided by the consortium and the largest x shareholders as consortium know need 75% of votes casted. Not sure if UTIMCO, Boeing etc will vote yes or no and if them, not ABC, voting is a good or bad thing for us PIs. Assume Cleveland will be a no. Sold third of my shares a month ago, voted no and will hold now come what may. Hoping for (but not hopeful of) a revised offer.
For the offer of 35p to succeed does it need a 50% or 75% shareholding approval ?
Thanks
T
I have missed my chance to vote will I still get my 35p?
Got 10,000 of these through my wife working for aa can I ask peoples opions on why people are buying at 34.50 if most people think sale will go through at 35.00 or is it bigger offer may come in
Have I made the wrong move, it's too late now lol Sold ,plus side ,beaten what the banks paying in interest , foresight buying in at the drop to 23p ,would be a generous 50% profit. Gla
Agree with madgpol. ABC were holding on behalf of UTIMCO, Boeing pension fund etc. Need to hope UTIMCO and Cleveland Square vote no or can extract a higher bid from the consortium.
Finally received my voting instructions from HL this morning. Voted no (1) because of AA investor relations and HL’s dealings since they advised in the RNS the Scheme Document and voting forms were sent to all shareholders on 17 December and (2) price too low. Fingers crossed for a higher bid but am not hopeful. GLA.
Jed, the way I see it ABC we're managing the account of UTIMCO and this came to an end on the 31st Dec. All ABC have done is release the shares to the beneficial owners. Unless we get someone come forward at the 11th hour I feel our days are numbered. 35p is still a decent profit for me but 45-50p would be the icing on the cake
The University of Texas/Texas A&M Investment Management Company (UTIMCO) now 14.6%
Have they been buying all / most of ABC holding ?
and if so at what price , surely not less than 35p as that's the price ABC would get anyway, and if so are Texas looking to get more than 35p. This game is not over yet.
Hi guys, I'm an AA shareholder, have just had an options letter from my broker asking if I want the cash or Topco shares/prefs. The data that i'm looking at online seems pretty sketchy with regard topco, i didn't see any mention of dividends etc. Has anyone actually looked at this option in depth at all? I'm guessing almost everyone will go for the cash but how are we supposed to make an informed decision without more information?? Would love to hear some opinions on the matter?
I was hoping for £2 a share. That's what I value the AA at.
Is there any possibility of this deal not going through? If all of the PI's vote no deal then will that stop it... Now that ABC are out... Thanks.
what may have happened (surmising here) is that as they have declared that they terminated their IMA (generally for pension funds) and transferred back to the parent or other related pension fund - maybe thats what all the stuff on Texas is about.