George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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https://ir.q4europe.com/solutions/telfordhomesplc/2792/newsArticle.aspx?storyid=14403532
At the end of the day, despite fairly significant arbitrage involvement, no-one else stepped up to counter-bid and CBRE presumably didn't blink if any attempt was made to lever up the price (subject to Takeover Panel approval) in exchange for voting through the deal.
So difficult to argue, perhaps, that it wasn't a fair price?
Not with a bang but a whimper...
RNS scheme approved. BOD disgrace.
Are they all down the pub celebrating the deal going through? Or are they holding a war conference on what to do next after defeat?
All seems quiet on the share trade front, apart from that 95k share trade that went through at just over 349p. I did think that might have been someone who had been to the meeting and decided to get out just in case, but it all looks very calm since. And there was the strange start to trading with a few early trades going through at nearly 354p, which looked like someone thought something interesting might still happen. Won't be long now before we get actual news one way or the other I think.
Sponsored by RedBull, Febreeze and Shake and Vac!!
Hilarious! This could really take off. Perhaps you should patent the idea, create a worldwide league and then take the whole thing public.
Going to have to find a new hobby !
https://www.youtube.com/watch?v=njHE4S-HD3I
No official outcome as yet. We're all waiting to see what happens.
Fingers crossed that will be the outcome. I only have a small holding now, having sold out the majority the middle of last year, but I'll be sad to see TEF go, especially to a US company at a time when need to be holding our nerve as a country and grouping together.
odd that TEF still trading just under the offer price after vote taken place,does that mean CBRE have won the day?.Would have expected it to drop if offer voted against.
Well hoping the offer is refused .Suspect that if it is they will be back at some stage with a higher bid
Many thanks Sain@vision.
What are your thoughts on the verdict?
The Court Meeting and the General Meeting will be held at the offices of Reed Smith LLP, the Broadgate Tower, 20 Primrose Street, London, EC2A 2RS on 6 August 2019. The Court Meeting will commence at 10.00 a.m. and the General Meeting at 10.15 a.m. (or, if later, as soon as the Court Meeting has been concluded or adjourned). Notices of the Court Meeting and the General Meeting are set out in the Scheme Document, and Forms of Proxy for use at such Meetings are enclosed with the Scheme Document.
Does anyone know what time the general meeting is today regarding the vote?
is this the end of the line for small shareholders?.
Well today Pochins a well established firm in Cheshire went into admin today Developer-builders solidThat is really a shock A real bellwether for the region
http://www.cubex-land.com/uploads/Cubex_Understanding_BTR.pdf
Good luck with Crest
FWIW I've now sold my remaining Tef position and reinvested in Crest.
Although a counter-bid could still be announced tomorrow, or a sweetened deal, my feeling is that such an outcome was more likely to have been announced first thing this morning after weekend negotiations and my fear is that rejection of the deal is now the bigger risk. If it is rejected though, given the recent arb behaviour, I think that might be a prelude to an attempt at renegotiation with CBRE - subject to Takeover Panel agreement to CBRE submitting a higher bid.
Good luck those of you staying in.
Odey shorting UK plc ,weakening pound .Setting things up very nicely for our friends across the water to pillage UK assets
CRST SP now below TEF,long time since that has been the case.
Yanks zooming in on the sector and we are just flipping on our backs Clearly see opportunity in a post Brexit world .Where is the challenge !
https://twitter.com/PropertyWeek/status/1158296174497021952
http://residential.jll.co.uk/insights/research/european-multifamily-investment?utm_source=Twitter&utm_medium=Social&utm_content=2532128956&utm_campaign=MARKETING+CAMPAIGNem-uk-resi-livingresidential
JLL really plugging this but let CBRE slip through the covers on TEF ? Missed opportunity .Their capital markets team providing the innovative funding on City North,flog all of TEF's kit in Asia
moved their East End office next to them at Stratford but seemingly missing out on the big prize Lost out to Savills on the partner selector for the JV . They must be embarrassed !
One final thought. If you are sufficiently motivated and available, you could ask the platform to issue a letter of representation tomorrow and then show up in person on Tuesday and vote. Corporate action nominee votes are now closed. Some/most platforms may not be able to issue a LOR tomorrow, so this is a long shot. When I last needed to do this two or three years ago, the letter arrived by post, rather than e-mail. Votes really matter for the Court hearing. All shareholders have an equal vote, irrespective of the number of shares that they hold - i.e. the same as the likes of the hedge fund players who now hold a significant part of the equity. BTW, is anyone bothering to attend the Court hearing next Tuesday?