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Johnpwh (Prince of Wales Hotel?) writes, "you pays your money and you takes you[r] choice." I was startled to read what I thought was an American expression of my father's era, from a presumably British commenter. That saying has been around here since 1884, when Mark Twain used it in one of his classic novels. But turns out that it appeared even earlier in Punch, in 1846, and was probably in use long before that.
But indeed, choice is the major question here. Lithium stocks are exploding faster than a defective Tesla battery. I am like a kid in a candy store when I see all the choices, most of them traded on Canadian and Australian exchanges. (Yes, that's an American expression, it seems that the British version is "like a kid in a sweet shop.") BCN was a conservative investment back when you could buy it at 60p, knowing you would collect 67.5p by the end of the year. The worst that could happen was that the deal would not be sweetened -- but it was. Now? You have to feel sorry for the Bacanora monomaniacs.
Tomcat
Good post
there’s really no need to panic… not yet anyway…
an announcement will be made when ganfeng have secured enough shares to get them above the acceptance condition %… 28.88% + ‘21.12%’ shares contracted to accept the offer (including the loi’s they have already)… over 50% total…
if we don’t get the above and they haven’t managed to get to this 50% threshold by 6th october… an announcement will be made on this day… and every seven days until the offer closes… updating us on how many contracted acceptances they have secured…
another announcement will be made when ganfeng have… 28.88% + ‘46.12%’ shares contracted to accept the offer (including the loi’s they have already)… over 75% total…
there will also be announcements on each day in the 7-day period leading up to the unconditional date… currently 14th november… giving us a daily update on how many shareholders have panic sold in the last remaining few days before the offer closes…
Sorry, panicked and sent and my laptop battery was about to die.
My clumsy rambling was to agree with BB. As far as I can see there will be no way/ need to vote for against a takeover, for a start because this isn't a takeover, but also because by not voting you are saying you cant have my shares. If the initial vote leads to a situation where delisting is a possibility I suppose there may be a further opportunity to accept the offer but time will tell on that one. GFs object in this exercise is accumulation of shares so I imagine that, regulations allowing, they will give S/Hs every opportunity to capitulate - but I doubt they will compelled to so it depends how comfortable you are at poker.
I agree with Bob here (lordy, whatever next!)
I don't understand the subtleties of various routes to takeovers/ share grabs, and frankly don't really feel inclined to spend too much time finding out. But it appears here that this is an offer termed as an approach to S/hs to buy shares rather than a takeover. This may lead to shareholders becoming minority S/H while still remaining on AIM, delisting & BCN becoming a private company OR a takeover if a high level of acceptances are received. So you don't have to sell your shares if you don't want to.
However S/Hs must be mindful that they could be left trapped in a private company, and equally that they could make far more money from their shares if the put their chin square to the wind and hold out. We're all grown ups, you pays your money and you takes you choice.
@trikidiki “ I am happy to vote FOR the distribution IF the takeover goes through but I do not want to vote FOR the takeover.”
An example of post-vehicular equine placement. Voting against the distribution might block the takeover, while voting for it will help remove one more barrier to its success.
And no, there will never be a vote on the takeover.
Thanks for that. I have been viewing it on my phone and have to log in on a computer to see that. Incidentally I have not had any correspondence from HL, apart from constant offers of advice ( as I have reached a critical age ) .
I have a similar number with HL and I have heard but it is confusing the way its worded. I am being asked to vote for or against distribution of ZNWD shares ???
N7455 on hl log into your account, into portfolio for each place it’s sits ie isa and share account - on the line with Bacanora in it look to the right at the buttons after pnl etc. There is a blue one is you scroll over will have Corp actions on it. If you click that it’ll take you to screen where can vote on specie ie receiving dividend.
You should have received an email I did for 4 family accounts so check junk mail? If not the above has enough info.
I have nearly 150,000 BCN with Hargreaves Lansdown in my SIPP and I’ve not heard a word from them. I’ve even just checked and zilch
It starts of with the Ganfeng offer of 67.5p share for BCN and the Zinwald shares. The vote is for the distribution of Zinwald shares
That was my understanding so will vote for, but will be voting against takeover
.
The HL form states you are voting on the distribution of the Zinnwald shares. It does not state anything about voting for/against the takeover. I am happy to vote FOR the distribution IF the takeover goes through but I do not want to vote FOR the takeover.
I will be calling HL tomorrow for clarification.
Oggy I read it as a vote on the speccie therefore have voted yes.
It’s a vote on shares not on the takeover, or have I got that wrong.
Have opened up voting - Log on to account to vote.
Says votes to be cast by Tuesday 21st September