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pmoran thanks for the info i was paying in the full 500 at one point then took money cause needed it for an emergency and left the bigger one of 300 a month to run its course this why im hoping nothing comes of this and it is just a way of them getting price up to where it should be and they dont table a bid from what im hearing they (ceasers) have rather a lot of debt as it stands so no money to throw at william hill best case senario is these take over bids come to nothing and just continue to pay in until next july or like you say they give us the option to buy the shares with whats in my pot now and they do put them shares aside because this is how they fund the company with money paying in with so in a way by the employees paying money back into it they have used that money to progress in the u.s like they have so far so be unfair i would say to just say ok we have a buyer you take your money as savings and cant buy any shares but thanks for helping us out anyway be a bit of a smack in the face i just have to wait and see what develops like a lot of people on here over the next month or so gla
I've been in a similar situation before, when a UK company was bought by a larger US competitor.
Same Yorkshire shareware scheme and in that case they still allowed payments to be made until all the paperwork was done. That allowed employees to pay in during that period. Then the amount of shares you got was prorata up to that point.
Guinness with a share save scheme the rules are you don’t own the shares until you buy them and you can’t buy them until you reach the scheme end date (usually 3 or 5 years). So you don’t get dividends or can’t vote on issues and obviously can’t sell any until you get the shares at the end. Although all schemes operate along similar lines (I think there’s hmrc or fca rules that govern how they operate) there is some flexibility for individual company rules. For example most schemes state you must still be in employment to continue with the scheme but some allow leavers to continue to save and receive the saving bonus at the end but not have the option to buy shares. However some schemes allow a leaver to continue to save or to excercise the option to buy shares at the discounted offer price in certain circumstances such as Leaving due to retirement, redundancy or death in service. Theres also a minimum and maximum amount that can be saved monthly which I think is £5 and £500.
If the company were to cease to be a publicly traded plc the scheme would have to end and there should be published rules about how the individual scheme would deal with that situation. Of course you wouldn’t normally expect a companies shares to cease trading during the duration of a Share save scheme but if the company went bust, was taken from public into private ownership or it was taken over by another company that would result in that situation. Somewhere in William hills share save documentation there should be details of how such a situation would be dealt with.
It could be that the scheme ends early and employees have to stop saving into it but can take up the option to buy shares at the agreed discounted price with the amount they currently have saved a bit like the non fault leaver approach (retirement redundancy death in service).
Alternatively it could be that savings element of the scheme continues and employees are allowed to carry on saving for the agreed duration and receive the appropriate savings bonus at the end but would not be eligible to buy the shares because when the end is reached the shares would no longer exist.
I was under the impression that whilst individual employees cannot get their shares until the end of the scheme those shares do exist and are effectively held by the company as employee shares. If that’s the case then those shares are counted in the total shares in issue and those shares would have to be purchased by the new owner at the agreed price per share when they takeover. If that’s so then it would be perfectly possible for William hill to end the scheme early and allow employees to buy the number of shares their savings can buy at the early end date.
I hope all that makes sense I I do hope that any early closure of the scheme due to a takeover will be the more favourable (For you and Your partner) of the options above.
I would say scrutinise the companies share save documentation.
Good luck.
Arsenal, where to you hear that the RNS states “ It confirms that it has received separate cash proposals”.
Apparently its not two bidders its the Done brothers Apollo and ceasars consortium
so you think they will keep uk side of things and online i know they have europe mr green etc too but i still think they have done this to build speculation up around the share price and ok if they dont put a price on table by the 23rd the share price will have gone up but not stayed up but be near where they should be for what it should be valued at with potential of where it could be and with 2 bidders that pushes it up further and investors know big corps know what they are potentially sitting on if we can see it they can being its thier day to day jobs for looking at big earners
As AF pointed out to me Caesars only have 20% of WMH US not WMH PLC.
ceasers already has a 20% stake in wmh so in effect they would be only buying 80% of the company my thoughts is they have done this to push the price up to where it should be quicker and if they offer something worth while then wmh will consider it
wmh knew exactly where this could go when they 1st went into the u.s years back to just throw that all away would be stupid i have £18,000 =7100 shares in my partners share save scheme that they do not sure where i stand on that now its due to finish next july price they quoted at time of taking it out was £2.64 anyone any ideas ????