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Know what it is, and it's not.
Date position held/dealing undertaken would imply date dealing undertaken, which was not today...
The form is clear. It's the declaration of current position / opening position.
Yes, sorry, thanks scandal.
After looking into it further, (share register) I found what I was looking for.
Form 8.3 needs to be worded clearer, as " (e) Date position held/dealing undertaken:" says to me the date transaction took place, not a position declaration date.
All these RNSs are just confirmation of existing positions held yesterday at time of announcement, as per the takeover code Nonsense to say RBD have bought 4% of Deltic or Newlands bought RBD yesterday etc.
There are more to come in both companies and will be a bit tedious, not to mention misleading, to speculate on each one!
All these positions taken within the company and then an offer made on a company, hmmm...
The Financial Institutions backing RBD own more than 20% of DELT.
Who worked out that calculation?
It is a done deal. Just look at all of the RNSs flowing in.
RBD is as cheap as chips at the moment.
I told you to follow the money.....
C.
The 4% relates to 272m shares. It can't be a percentage of DELT held by RBD, the numbers are wrong.
So, assuming that Hargreaves Hale and the Newlands are working in concert with S&S, RBD now controls over 20% of Deltic energy stock.
Unimaginative, our shareholders over 1% are declaring their shareholding. Part of the process I assume.
So another two RNS - We basically have a lot of shares in companies is how it's looking. Is that right?
Do not forget to speak to Malcy.
C.
Vox sorry
Also remember that S & S will not want to tank this sp.
Get ready for more news next.
Vox or Proactive?
C.
****************************/articles/deltic-energy-unequivocally-rejects-reabold-s-proposed-12-34m-takeover-bid--51c282e/
Look on the takeover panel website.
1224. Spencer also set up another business with Algy Cluff once he left Cluff. It was literally hours after he retired. Cluff Energy Africa was formed, no doubt they will promise to drill wells but actually deliver nothing.
I think these are Deltic shareholders.
Interestingly David Newlands was the chairman of the aforementioned Touchstone at the time of the takeover approach by IP Group. IP's initial statement said:
"IP Group announces that it recently made an approach to the Board of Touchstone regarding a possible combination with Touchstone (the "Combination"). The Board of Touchstone rejected the proposed Combination...
The IP Group Directors consider that the Combination would create an international leader in IP commercialisation and an enlarged business with substantial capabilities that would be greater than the sum of the two parts. "
The FT summed it up thus:
"Unfortunately, amid all the medtech and the therapeutics and the whacky new materials and the bleeding edge engineering, Mr Newlands seems to have lost touch with who owns the business.
Back in April, Touchstone got a takeover offer from IP Group, the fellow university spin-out specialist founded by David Norwood back in the 90s. Mr Newlands and his colleagues rejected that, only to discover that Touchstone’s three largest shareholders — Invesco, Woodford and Lansdowne — didn’t want the bid rejected.
So Mr Newlands dug his heels in. There were no negotiations."
https://ftalphaville.ft.com/2017/08/04/2192226/come-in-david-newlands-your-time-at-touchstone-is-up/
The takeover went ahead against the wishes of the Board because the largest shareholders wished it so.
An omen perhaps!
The RBD RNS that mentions both RBD and DELT states 272m shares, being 4%. Surely that relates to a stake in RBD by FIL & FMR, not a stake in DELT by RBD? The shares/percentage ratio would be different?
I think it's fair to say the stock and voting rights were in hand before yesterdays RNS.
Could be a hostile takeover if rbd hoover up enough stock
II's are disclosing their positions in DELT. Reabold have already bought 4% of the company which must have been the amount required to take the 'team'over the % required for the deal to go through. Damn clever stuff.
Hargreaves have an hand in delt as well I think?
I'd have thought a company declaring interest in 3 other companies would be positive on SP. Shows how little I know :D
We are the offeror and not the offeree so yeah it's us making our opening position known.
It's on the takeover panel for Delta but not for the other two.
So Deltic's largest shareholder is Michael Alan Spence a British businessman and philanthropist. He is the founder of NEX Group. Spencer has been described as the richest self-made person in the City of London and as a "City grandee".
Any connection between this man and our directors ? There could be some grand plan coming together here.
And/or ... are we getting involved with Deltic because of their farm in with Shell ?