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Well done Mark.. :)
Ok ok I didn’t know what I was starting, I copied it from someone called Comedy.
I have messaged asking him for his full name date of birth and postcode. So I can credit him with it.
Mob rule. Age of no standards, respect or decency.
But it certainly is common courtesy Richmond.
'Recognised' and 'courtesy' are two different things. Just because the mob can't bother lol
I am out of routine so scran and a dobey.
. _ ._. Hee Hee. Sort that one Lawson sir : )
No, if you copy and paste you acknowledge the author and source. Basic courtesy, something your mother would tell you.
Thats harsh aallhatguff ---- he stated that is is borrowed. Stolen is bull! do we see sunset in disguise..
I know - and where from as well - respect to the author and to Mark for nicking it : )
It is not Mark's post..was 'borrowed' or stolen without acknowledgment of author at all.
Lawson, please forgive me if i read Mark's post incorrectly but i make that the trigger point is 2 days time ? If he has to give notice of 10 days, and he has under 22% at COP today, in 2 days he will surely have to give notice as he will be under 10% 10 days later and will want any meeting / vote to happen ASAP after he is at 10% ? I am working on the trigger point being JB calling a meeting and that in itself will be seen as a positive move hopefully.
Not trying to be a smart arse, just that is how i interpreted what he said.
Would like to hear others thoughts pls. Thank-you in anticipation.
To call the meeting within the terms of the shareholder agreement JB must hold less than 10% - once advised the board will have to call an EGM and from memory the notice period required by the M&A’s is 3 weeks. JB has instructed his broker to sell down to zero so unless JB and the board make other arrangements he will continue to sell - then he will have to buy if he wants to influence the vote which he certainly will. There is a further slight complication that in order to call an EGM JB needs to hold 5% so if he falls below that the right to call an EGM would lapse. This causes some complications for all involved - if the instruction is to hold then by the time RB calls the EGM JB would technically need to hold at least 5% in an unassociated company to join his call for an EGM so that when the original holding (held by RG) falls below 5% then the other party will still be in a valid position to call the meeting.
I'm an ex Bunting Sir - Turn to is not in my vocab - I'm too important : )
My honest belief is people can plan to and indeed have board meetings to sort a new board but the crunch day is the day when JB stops selling - either at <10% or at 0. Then the market can no longer be flooded and we will see what happens from then on. The massive thing is whether JB has stowed away his capital or has already bought his shares back straight after selling them through another vehicle OR vehicles. THEN we are off IMHO!!!
Expru, get turned to and do a bit of graft! With regards to the very detailed post by Mark, the assessment of the trigger point is therefore 21 Aug?
Mark70 - I like your synopsis on key dates - so many possibilities!!!!
I borrowed this from another chat room, thought I would share it on here as it makes a lot of sense.
this is an interesting stock/situation. would make a nice case study for students. we have a 1% selling everyday. founder has sold almost 40% of his stock. by end of close today will be down to 21.66%. at same time he is planning to go for a meeting to get remaining bod guys out via a vote... so most are thinking they have almost 12 days of a 4.5mill approx sell daily to get in??? if some are short they think they will get to close out from that stock too??? and those who want to go long or top up also believe they will be able to get that stock too??? plus if the mm's have been selling short on the high volume days when we hit past 10p??? are they also hoping to close out with his remaining stock??? plus if the mm's want to go long will they hold stock back to sell at a much higher price??? all these people will be buyers... at same time thoughts: if jb is going for meeting and needs 10% or less to vote that means in 12 days he will be below 10%...so from notifying the bod how many days need to pass before they can get a meeting scheduled in the shortest period??? that is the key question ie if the bod needs to give a notice period of 10days??? that means he will need to send notice to bod in 2 days??? so that gives him time to get below 10% so he can vote... so there are too many who are thinking they have another 12 days to get in??? whereas minute the meeting rns hits many will want to get in...bear in mind we have been consistently been doing 20mill daily volume days since almost mid june??? so all the roads are converging on a point??? problem is many have 22 days as their point...some have 12 days as their point...the reality is they have less time...especially if he stops selling minute he gets below 10%??? and main point is when will he contact bod for meeting???no point in 10day time???