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It does seem rather unusual. I imagine the reason it is taking so long is because regulatory approval is needed in at least three jurisdictions - Gibraltar, Malta and the UK. Maybe more. This can always be difficult, particularly if the purchaser is a bit skittish. So I still don't think we can consider this a 100% done deal.
Fingers crossed that we get some good news well before the end of May longstop date (although of course this can always be extended).
Never known one to take this long. Oh well patience. Just hope the 7ish p arrives at some point as well.
Slowly!
Well that 7p or close too, could be coming to us.
Hopefully we may hear something in the next 8 week! It's been going on a long time. I'd be happy with 4p+ for the DCU, but hoping for 7p.
Thanks for the information. Anything we get from the DCU is a bonus but I still think we will receive close to the full 7p.
Received this from my broker sometime ago, also told via another message that DCU’s cannot be held in ISA’s and must be transferred to a trading account within 30days.
“Jambo SRC Limited have made an offer to buy STM Group Plc for 60p cash and 1 deferred consideration unit (DCU) per share.
The DCUs may deliver up to 7p per unit in cash subject to certain conditions being satisfied. The DCUs are non-transferable and will not be listed on an exchange. If the takeover goes ahead, we will contact you with further information regarding the DCUs, once credited.”
I'm getting quoted 59.5p to buy today. That's a bit firmer than previously. I'm still wondering whether the extra 7p (from 60p guaranteed to 67p possible) will amount to anything. Perhaps the firmer price means that it will.
It's certainly taking a long time. 2Q 2024 is the expected completion date.
Well it passed but a long lead time to D day on the timetable usually 6 weeks this more like 14-20 weeks . All to do with Regulatory and sale of apart of the company. Oh well time to pick up more if the price is right!
Hope it goes through, that 692 trade today was me! Just wanted to round my holding.
Soon as I bought the share price when from -2.5% to +3.27% some one sold this morning so not many shares around.
Added another £500 at 56.8p
Had this from HL “ Jambo SRC Limited have made an offer to buy STM Group Plc for 60p cash and 1 deferred consideration unit (DCU) per share.
The DCUs may deliver up to 7p per unit in cash subject to certain conditions being satisfied. The DCUs are non-transferable and will not be listed on an exchange. If the takeover goes ahead, we will contact you with further information regarding the DCUs, once credited.
Shareholders will vote on the takeover at meetings on 6 December 2023.”
Oh my overall return at 60p will be near 7%, hopefully more if that other pay out comes!
Picked up other £500 at 57.2p ok not a massive return (4%) but you would need to wait a year in a bank savings account.
I just keep adding, if you try to buy too many then It's close to 60p
Well that was pushing it to the deadline!
Haven’t seen any extension!
· The Scheme Document will contain further information about the Acquisition, together with notices of the Court Meeting and the General Meeting, and the expected timetable and will specify the action to be taken by STM Shareholders. The Scheme Document will be published and sent to STM Shareholders as soon as practicable and, in any event, within 28 days of this Announcement (unless STM and Bidco otherwise agree, and the Panel consents, to a later date).
I just picked up another 8,000 shares at 56.9p. Hoping for some more news soon.
Too complicated for me! i will just wait and see what happens.
There should be more news and a timetable pretty soon i think.
So no issues with regulars and this
The principal value of each Loan Note to be issued pursuant to the Loan Note Instrument will be calculated as follows:
LNPV = 7 - X
where:
LNPV =
the "Loan Note Principal Value" in pence
X =
a number between 7 and 0 and calculated on a straight-line basis dependent upon the extent to which annualised net attrition during the calculation period falls between 5% and 10% and where, for the avoidance of doubt:
annualised net attrition during the calculation period is 5% or less, X shall equal 0; and
annualised net attrition during the calculation period is 10% or more, X shall equal 7.
annualised net attrition is calculated as the net attrition during the calculation period multiplied by 12 and divided by the number of months in the calculation period.
Sorry paragraph 12 is in the RNS, and the rules but very complex as stated in the RNS. So probably as you said bonus if we get anything!
Been doing some more digging, this 7p or nil is all to do with the loan note. It seems that certain criteria needs to be met and we should know more once we see the “Scheme Document” and read paragraph 12. So the sale of the other part of the business, will that money just be taken by the buyers?
Interesting trade, where are the shares? If it was a sell have the mm’s agreed to hold them? As I just did a dummy sell quote 54p so 57p seems a very good price for that volume with low liquidity. Or was it a buy, mm’s had the shares and did a deal! Who knows. I keep testing the buy price. Haven’t set a buy order, I’ll just keep an eye on it over the next week or so.
.
524k shares just went through at 57.5p. Not clear to me why anyone would be selling below 60p.