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If KDNC and M&G get together a takeover at this low level should be blockable...what we really need is white knight to come in and speak to them both before making a counter offer.
just opened a position in kdnc who own 30% of sonara hopefully they won't cave as easily GLA
Certainly agree that many will buy to take advantage of the gap, but they are still more likely to vote to reject than the holders that sold out today at 57p (given that they are happy with 57p!!)
I suspect M&G's reaction will dictate whether the offer is increased a holding of 16% is a sizeable obstacle if they object (though if I understand correctly M&G holding does now fall as a % as 53 million more shares have been issued to gangfeng).
Yes, just got a quote of 56.5p. Even if it took a year a relatively worry free 17% is not something to dismiss as an investment. I wonder if legally Ganfeng can increase beyond 29.9% at the current stage of the bid - it would surely be in their interest to if it were possible with the SP effectively 11p short of the reported offer price?
John I think the discount is due to the 29% gafeng at .45ish and the remaining 71% at 67.5 at the mo but it should creep up during the rest of the year can't see it completing early as gafeng in total control see you all GLA
Cplloyd
Kind of disagree (though I don't know) but I suspect that anyone buying post the RNS, at the time of writing sub 57p, are actually doing so as effectively as a high yielding deposit (17% in a few months) rather than to vote against it as you suggest.
I am surprised by this discount, not sure what to make of it
Similar sort of thing happened with Kaz earlier this year (though the board took it private as opposed to it being a takeover). The share price then moved ahead of the offer & had to be increased twice before acceptance. It will take M&G & some of the other larger shareholders to object with PI's , at least with a big increase in trades today it is likely those buying in at around 60p will be more likely to vote against this than those that held (& are happy selling at that level).
This cannot be allowed to happen however given the stake that ganfeng have its going to be difficult to circumvent unless we all pull together, and I suspect this is their strategy. I am not at all surprised by this and I also agree that the share has been held at a ridiculously cheap level - I suspected some time ago that the chinese would try and get control of this on the cheap !
Once it goes to formal offer you will should get a notification to vote as to whether you accept to not. It should need 75% of shareholders to vote it through, it looks like this will take several months but looks a formality so in essence your choice is to sell now at 57p (or whatever price you can get on the market) and pay your dealing fee or receive the 67.5p when (if) that is formalised and accepted (& also save your trading fee!)
Hi guys,
This was one of the first shares I bought and like others I dreamt of one, two even five pounds plus.
Anyway like Gabrielle might have once said dreams don't always come true and all that. My question is, for me to get the 67.5p per share do I have to do anything specific or do I just wait for the takeover and then the share dealing company automatically take the shares off me and deposit money into my account. Thanks in advance for anyone who answers.