Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Is the offer price still at 523p
I have been saying for over two years the ceo and most of the board needed to go. Sadly, this ship has now sailed and perhaps the most inept team in the 250 will be rewarded again for abject failure. I can only guess the aws partnership isn’t delivering the numbers we all hoped for or why would even this board accept the low ball offer. I continue to hold in the hope we receive a counter bid. The exchange rate even with the debt level here is making this cheaper by the day.
Perhaps a positive message regarding AWS growth whenever it might be due ??? could be the trigger.
The OpenText offer is ridiculously cheap and the fact the Board accepted it shows how much they lack in ambition, vision and ability to execute. With a new Leadership team, Micro Focus has everything it needs to power forward and deliver growth and value to its shareholders. The current management team need to be thrown out. #BringBackKellyCEO.
My thinking too, the current deal does seem quite generous to the buyer.
I'm with NotBot on this one. I think the risk of losing out from hanging on for a few months is outweighed by the possibility of a counter-bid.
RG
@CR888: Well I'm currently sitting tight. It seems extremely unlikely that the deal will fall through so I'm discounting/ignoring that risk; I think there is a genuine and significant chance of another bidder which would give the takeover price a significant boost so I'm holding out for that. If that doesn't occur then I expect the price will gradually drift upwards towards the offer price as we approach the [yet to be announced] effective date in 2023Q1. I look back on other takeovers (Morrisons is fresh in my mind) where other bidders don't necessarily place counter-bids straightaway, instead biding their time until close to last-chance-to-bid deadlines, and also to give themselves more time to review the target company, its existing bidder(s) and their own prospects of a successful bid (or upping the takeover price for their winning competitor)
Should hear more by ~23rd.
"It is expected that the Scheme Document, containing further information about the Acquisition and notices of the Court Meeting and the General Meeting, together with the Forms of Proxy, will be provided to Micro Focus Shareholders as soon as practicable and in any event within 28 days of this Announcement (unless a later date is agreed between OpenText, Micro Focus and the Panel). An expected timetable of principal events relating to the Acquisition will be included in the Scheme Document.
The Acquisition is expected to complete during the first quarter of 2023, subject to the satisfaction (or, where applicable, waiver) of the Conditions set out in Appendix 1 to this Announcement."
From the RNS.
What is the schedule?
Well, here's the thing.... On the day of the RNS I was at Spa Francorchamps watching Practice....Completely missed the news lol. (A drink or several , 'may', have been taken.....). Just came by to see my battered portfolio and thought it was a mistake!
SO if anyone is still here, any belief that it may be waiting a little longer just in case a counter offer comes in?
Yep, taken money and re-invested
So quiet on this board , everyone sold out ?
To diversify
To shares like Dark and Bp
See "Opening Position and Dealing Disclosure Requirements of the Code"
Standard practicenothing to worry about
Glad to get out not as burnt as it was looking.
Declining revenue, poor management - I am guessing most(incl. Me) just are thankful that it can get back to »500
A lot of investors with 1%+ stakes are submitting their 8.3 forms via the MF website. If I am reading this right, several of them have paid in excess of the offer price for their shares. This would seem to suggest they are looking at a significant loss? Do you think this will make them less likely to vote in favor or will they just be glad to get out?
* Micro focus : Citigroup raises price target to 530p from 365p *
Wow they are that good they coincidentally manage derive a figure very close to the offer, through their own calculations, at the same time an offer comes in ;)
Restores my faith in brokers ....
A very nice surprise, ill be happy to take the 530, , though thought £6 would have been a secured bid!!
GLA LTH
Maybe AO or THG as they've fallen so much, I know THG have refused a few offers (so they've said)
BT if the Tories are asleep at the wheel still
Network international dark horse, growing company , fcf, share buyback, profitable, main markets N Africa, Saudi, Middle East, very low daily volume as not many PIs invest, majority of the trades are ATs , its been hugely frustrating to hold as the SP is so easily driven down by small AT sells.
Be interested if anyone has on thoughts on it.
Darktrace? Had it been a member of FTSE100 before? in debt?
Good company Paypoint unlikely to receive bid as very tight knit company i think..............