The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Chairman may have the option to address share splitting, but needs to act fairly, so would need to take account of who bought the shares and not a broker who holds those shares as that would deny the rights of those who actually bought the shares
FFC i got mine at precisely 3.83 p through impeccable timing (or maybe dumb luck!!)but felt the need to justify myself as I have been preaching caution here for ages!
Btw casa nothing wrong with a punt occasionally I bought a few esl last week at 8.3 and still holding
Well good on you casa and how clever of you to have got 3.8 A’s a buy I thought those were selling prices ! Hey ho mine this am cost me 3.9 ! Trust u to beat me , no offence hope we were both wrong for the sake of my long term holding I hope this is turned over. No administration in my view ! Guess we will have to agree to disagree so won’t wish u luck sorry
FFC You have very right to vote as you choose and are to be congratulated for your efforts in that regard - I just happen to think you are wrong, and that the consequences of a no vote might be negative for you and your fellow holders.
On the assumption that both votes will be positive I have bought a few this pm at ~3.8p, a bold move for me as I am normally extra -cautious, but couldn't resist the possibility of a short-term 40% profit to partially offset the recent >10% fall in my main portfolio!
Casa that’s utter bs !!!!! Whoever owns shares here has a right to vote however they damn well please they don’t owe any other shareholder a thing. How pompous to suggest my no vote will cost 80k shareholders a thing. This has been on the cards for ages and everyone has/had the opportunity to buy , sell, yes vote or no vote !!!! We may have history so “ I would say that wouldn’t I” but you are talking carp now and you no it. Don’t change tack just because you’ve been put right yet again !!!! Come put your money where your mouth is did u buy today or didn’t you ??? No good telling us tomorrow is it ?
Achille that's interesting and news to me.
I was being somewhat facetious in my previous post, but did make the point a few days ago that a determined (if misguided ) group of small shareholders might cost 80000 plus of their fellow holders a fair bit of money by voting down the only possibility of a cash return on their investment by winning the headcount and I genuinely don't think that's how the takeover code should work.
Tomorrow , whatever the outcome might, I suspect , lead to a review and amendment of the code or a series of legal challenges by the losing side , whichever that is.
Casa, "As to the latter , in AAl's shoes I would have arranged several hundred " tame" small shareholders with 1 vote each ". The chairman has the authority to disregard any share splitting, which is what you are intimating.
See Dee Valley judgement.
LTV yeah Polygon now hold(or control) a stake large enough to prevent full control by AAL. See my post of 10 Feb at 7.33 for the references in the takeover code. There will be hastily convened conference calls going on between now and tomorrows meeting and AAL are in a bind , they almost certainly need the hedgies to vote in favour to win the "Share "vote and they need to outnumber the angry PI's at the "headcount".
As to the latter , in AAl's shoes I would have arranged several hundred " tame" small shareholders with 1 vote each queuing overnight outside the HAC for the court meeting to fill the room with "yes" voters.The door policy tomorrow will be interesting!
Against all my cautious motives I am seriously considering a punt on two yesses tomorrow, I hazard a guess that the number of II's who are determined enough to write off their remaining investment is insufficient to win. As an aside, if AAL were to win the cash would be with shareholders within a couple of weeks.
Edulis - (hence Polygon not going above 10%).
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Wrong again - see most recent RNS. You don't know what you're talking about. Best you keep quiet and be taken for a fool than open your mouth and have it confirmed.
This is exactly what I said:
If it’s a No then Anglo are obviously frozen out and can’t increase their offer – all they can do is hope that it goes into admin or put in a contractual offer (hence Polygon not going above 10%).
That's not what you said. Yu said they are frozen out. They aren't.
Please check out page 79 Section 10.2.
https://www.cliffordchance.com/content/dam/cliffordchance/PDF/takeover_guide.pdf
If the vote it No, they can walk away or put in a 'Contractual Offer' as I said.