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"How can they be a cash shell when they own the pallet network ??? Think someone is leading you all down the garden path !!"
They say they are in an RNS release. Why does this continually get questioned.
Mark@1973
cheers mate. there has to be a lot of value for WIN to continue their interest in esl.
for me, this is a strong buy and hold. when the numbers come out, i very much doubt we will see the current sp. if broker note is worth anything, 900%. as always, dyor all
truth, you said 19th dec. i'm not sure where you got that from. By the way, my answer to you going on about cash shell was it was in the RNS. I have seen it but i have my reservations based on it and i may be wrong.
i have also stated a few time here and directed new comers to RNS from 2nd Dec. It has it all.
so now you know truth, its going to be converted to an investing company. not your other predictions as to what dbay will do. it wont delist. it wont be sold to pieces.
Are you not the one who has been saying you will wait till you see what dbay will do. do you have a good idea as to what now?
Ethio because they would be interested in the 49% of greenwhitestar although they would be much more interested in 100% of greenwhitestar !
How can they be a cash shell when they own the pallet network ??? Think someone is leading you all down the garden path !!
Well from what I can see the deal was approved on 6th December 2019 so that would make it early June.
So end of may then
Looks like it's 6 months from approval of the deal as per extract from RNS of 2 December 2019 below:
The PIK Option is subject to certain conditions, including that the Company is converted to an AIM investing company within six months of completion of the Proposed Transaction, with DBAY as investment manager, to ensure that the Company is able to retain its listing and provide liquidity for shareholders. D
scardy i have seen that on the covid 19 rns update but i have my view on it and like i said below i could be wrong.
we'll know soon enough. what a lovely day. keep safe and enjoy it!
Ethio:
Greenwhitestar own 100% of all the trading entities of ESL.
ESL own 49% of Greenwhitestar.
DBay own the other 51% of Greenwhitestar.
"No it IS a six month rule but does it start from date deal was done or date of listing being restored is the question."
Good question, anyone know for sure? What are the two possible dates?
"Alan, i don't think we are a cash shell at all for some reason. its just my opinion. i may be wrong.
"
Well tell the company that, they literally called themselves a cash shell in one of the previous two RNS releases
Mark@1973
why would Wincanton be interested in a cash shell?
Scaredy cat - yes that would be correct in that scenario.
Alan, i don't think we are a cash shell at all for some reason. its just my opinion. i may be wrong.
"Wincanton RND 25th of March 2020 says:
The exceptional profit arising from a property gain in the first half, will be partially offset by costs in association with M&A activity, principally relating to the possible acquisition of Eddie Stobart Logistics plc."
WHY WOULD A COMPANY LIKE WINCANTON WANT TO BUY A COMPANY THAT IS A CASH SHELL?
What does a cash shell mean?
Cash shell = a company that has no assets. Just cash. Is ESL really a cash shell?
that is why i asked Igbo where he got 19th Dec from.
ESL owns 47% of speedyfreight do they not? is that not an asset?
Which businesses are booming right now? supermarkets and companies like esl right? They cannot even cope with demands at present. major +
Online shopping is growing at a rate unseen before. esl a major player in that. they spend less now on fuel, vat and their drivers can work all sort of hours. If your country needs you, you are an asset in my book. we have to wait and see how thing develop and how DBAY will reform and take esl back to its former glory like they stated. When the numbers come out, i have not doubt the sp will shoot up. In fact, it will as soon as AT is done selling. lets hope its this week.
No it IS a six month rule but does it start from date deal was done or date of listing being restored is the question.
So what date do you think ethio?
"I think the six month rule started in Dec 19"
Where did you get the above? I don't think i have seen that in any communication
The divestment of 51% of greenwhitestar has already taken place, creating the cash shell company. There's nothing in the rules or in any RNS that they will be selling the other 49% . In fact the rules talk of acquisitions and the RNS talk of expansion.
"The PIK Notes will be refinanced after completion and DBAY will offer the Eddie Stobart investors the right to participate in an equivalent economic interest "
Thanks for the update appreciated
So, and I may be mistaken here so apologies, I seem to have read that they have 6 months to trigger and acquisition, sale, merger or some such (any clarification welcome). Is that correct and when does the 6 month timescale begin/end.
Apologies, this legislation is new to me as far as I am aware.
Have a great weekend all, assuming most sitting in? HBO online is free for a month I see so some great television on there if you need a distraction from reality lol
Mark, if they do sell Greenwhitestar, am I right in assuming that 49% of the monies obtained come in to ESL and they then use that money as the basis of funds for the future investment co.? Does that fairly describe the scenario you're hypothesizing? Thanks
Yep helpful to post those rules bebeto. I read them some time ago and I agree with ethio they have teams of people who would make sure they didn’t inadvertently fall foul of them. If they was to keep ESL and not move the logistics arm on then I reckon further down the road there maybe a rights issue but to be honest given the values of some of the subsideries I think there is a high probability that they will sell part if not all of the greenwhitestar co.
Gotta admit as far as timing goes for an investment company the coming months will see some rock bottom valuations of companies that fit the criteria dbay sets out!
Don’t forget how Berkshire Hathaway got started, an out of favour struggling textile company that switched focus to investing and insurance.
upon completion of the disposal or action, the AIM company will be regarded as an AIM
Rule 15 cash shell.
Within six months of becoming an AIM Rule 15 cash shell, the AIM company must make
an acquisition or acquisitions which constitutes a reverse takeover under rule 14. For the
purposes of this rule only, becoming an investing company pursuant to rule 8 (including
the associated raising of funds as specified in rule 8) will be treated as a reverse takeover
and the provisions of rule 14 will apply including the requirement to publish an admission
document.
Where an AIM company became an investing company (pursuant to rule 15) prior to 1
January 2016, the requirements of rule 15 set out in the AIM Rules for Companies (May
2014) will continue to apply. Accordingly, if such a company does not make an acquisition
or acquisitions which constitutes a reverse takeover under rule 14 or otherwise fails to
implement its investing policy to the satisfaction of the Exchange within twelve months of
becoming an investing company in accordance with that rule, the Exchange will suspend
trading in the AIM securities pursuant to rule 40.
I’ll agree the way he puts things it’s easy for someone who isn’t following this closely to be misled or misunderstand and I don’t like the way “ cash shell” is repeatedly used as a term that should be sneered at but equally I accept that the company has had and still has issues that need addressing. Esl holds a 49% stake in a large logistics company at a time that logistics is in huge demand!