The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Who is clueless? I asked for an example of a publicly-traded company. You come up with events in 2020 involving a company that was taken private three years earlier.
BORDER BOB READ AND LEARN THINGS: YOU LITERALLY HAVE NO CLUE
2020 - Chinese investors have abandoned an attempt to seize control of a British technology star after a furious backlash in Westminster.
A board meeting at Apple iphone chip maker Imagination Technologies would have seen China Reform parachute in four directors yesterday – effectively giving it power over the business.
2017 - CAYMAN ISLAND BASED
But it was cancelled after senior MPs called on ministers to intervene. China Reform is the biggest investor in Cayman Islands-based Canyon Bridge, which bought Imagination for £550million in 2017 despite fears that the deal handed too much power to the Chinese.
Border bob - Did you work on the transaction? Do you know the details?
Do you know the difference between a PE company 'ultimately owned' by Chinese govt but wasn't listed there?
In fact do you know anything but google/wikepedia?
Do you understand the difference between an agreement and final transaction?
Do you know how long it took from approval to completion?????
Do you know the financing of the deal? Do you understand the difference between PE and a company buying?
Do you understand the difference between 2017 and 2021?
In fact do you know anything useful at all?
I trust the view of people in M&A that have specifically told me how it is with Chinese companies & worked on specific deals involving Chinese companies.
Iv wasted my time on you again!! Back on the gutter list for you.
In June 2017, Imagination Technologies' board announced it was putting the entire company up for sale, but it was not until September 25, 2017, that they announced the company was being acquired by Canyon Bridge, a private equity fund ultimately owned by the Chinese government. Only two months later, in November 2017 the sale to Canyon Bridge was approved.
So find another example, or stop spreading the fake news about Chinese deals always resulting in delays.
John/Dee/MrC ultimately we are all in same boat, all of the same view.
As Dee said removing BOD is very difficult. Let them play their hand, if they vote for the deal and don't even mention the increased value in ZNWD for eg then we have a true case of not acting in shareholders interest.
Once a deal is on the table then M&G might be a lot more forthcoming for eg. If they have faith they can block this with PI's then we see if they are true to their words on undervalued UK companies.
I sadly was logged out and saw a post from BorderBob, another company is called imagination technologies - 2017 if you want a sense of how long and how difficult it can be with Chinese companies. Ill give you a chance on being unfiltered, let's see. That other poster tree something that imo, was a clear short manipulator will remain blocked.
They also remained way below the bid price because of the concerns about a Chinese company taking over. Appreciate it's chip technology.....Remember in Dec last year we had the act passed regarding national security companies etc would have prob applied to imagination.
Whilst that is 99% unlikely to apply to BCN as its more strategic asset, market is still pricing UK company v Chinese takeover.
I remain totally relaxed and see the upside.
Wise words Dee. Yes I agree that the change of Directors is unlikely. Indeed if successful it would in fact risk that, with a GF holding of 28.5%, we end up with a 'puppet' replacement board. I do however feel that if, and it is a big if, BCN remains in our hands in the long term then the current BOD need to be left in no doubt that their performance is considered by many to be woefully short of what was expected. Being vocal is the least we should do to try to ensure that their conduct in the future is more in line with what S/H want/expect.
@johnpwh
We have to separate our desires from what's realistically possible. To call an EGM would require 10% of the float.
The issue is then convincing the other 90% to vote in favour of removing them, followed up with an actual plan of action to replace them with competent people. We'll get a lot of PI's, but we'll need an institution or two to vote with us.
I'm not against the idea at all - But I don't think this is the precise moment to attempt something like that. To give them anything more than a bloody nose, we'll need institutional support; and this won't come until after the 'possible' offer period.
Foz, Dee. I would definitely be in favour of removing this BOD and would pledge my shares to the cause. The same way as Parliament can hold a vote of no confidence then so should we as it obvious that many posters have no confidence left in Secker and his fellow directors
Foz is right here,
It's a crime to commit fraud, it's a crime to manipulate markets, but it's not a crime to be weak, stupid, or short-sighted.
There's a lot that will come to light as the formal offer comes though. Some organisations won't say a word to us beyong 'we've received your email' until after the formal offer.
It also stands to reason that a lot of what's happening is to buy time. Nobody anticipated much backlash to this, so everyone has had to make adjustments.
Eventually, this will go to an offer, and Secker and Co will have absolutely nowhere to hide.
Mr C you can report it and I always recommend doing so, but ultimately it's just your view point rather than something substantiated. Again not saying I disagree it...!
Im more intrigued if you can mobilize the ability to oust the BOD or achieve a no confidence vote once the deal is on table and this is assuming they recommend it?
Can you do that? Otherwise like me we end up being moaners on a message board.
Dee has actually done a lot of work on behalf PI's who aren't exactly going to reward him!
I tried contacting HF's like Engine one that have managed to get 2 climate activist on the Exxon board. They did that with 5%, if Dee has PI's at 9% why is the above not achievable?
I also had a lovely vision that they would go to Exxon this is the type of project we should step in on given how much renewable change we need....!
We need this offer firm and we need the BOD to opine.
Good post - clear sentiment, personally if we get another suspension I am re-contacting the FCA as I believe this would constitute share manipulation..
Im sat wondering if and when a offer will materialise and how many RNS of form 8.5 and 8.3 we will see in the meantime.
My educated guess reckons that the offer will come approx 7 months 30 days after the first possible offer to buy , Purley on the approx 8 months time line.
My guess of rns inbetween is 1,034,567 , I also believe that the stock exchange has recruited a team of 4 people to input this data on a daily basis.
7 months 30 days and 1,034,567 rns later I will still be here holding my shares as tightly as possible.
So secker if your reading this , and you believe I will fold and chuck in my shares cheaply your very wrong , if anything the anger that grows watching this only makes me determined to hold them longer.
When you finally win secker which I believe you will , gangfeng will be paying maximum cost to prize away , why simply because when I sell is one scenario you can't control!!!!!!!