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I'm sure its probably in the company's best interest to obtain as many shares as possible, the more shares the bigger the bonus
I spoke with the advisors behind the Expansys offer today to try and gain some understanding on my options. Considering they are supposed to be unbiased they were sure desperate for me to sell even to the extent of sounding quite ruthless. He basically said you'll never get your money back and you won't get a dividend so it'd be best to sell now.
Just a little mention for something else to hopefully (but may not of course) cheer us up. I been looking like most of us have for other opportunities. Have come across red leopard holding who are a mineral investment company that late last year announced that they were quite positive about getting permission to open a silver mine in the USA. Like xps this has fluctuated over the years but if this gets permission the price will move up.look on the companies website re the idhora tunnel for more info.
agree with you biglad6, not sure if PJ has any other companies listed or intends to list any in the future, but I for one will not go anywhere near any of them. He sits there all smug on dragons den, you all most feel like shouting to the people 'don't go into business with him he will shaft you at the first opportunity he gets' or buy you out at the lowest price when he realises its going to make money. The above are obviously the reasons why he is a very rich man, it does not mean though that I agree with his ethics or his morals and for that reason I am out.
As someone who has been here 4 years the simple fact of the matter that this might be a company with a niche market, good ideas etc but it is run poorly by a poor management team who have had to right off many millions because of poor decision making and what's worse have then said to shareholders that next year everything will turn the corner. In successive years this has not only failed to happen but the results have been equally dismal. Then dcdan goes to the Agm and is assured by Cattersons and ogle that small shareholders would be looked after. Two months later instead of getting rid of those two getting a new team in jones wants all the improving sp to himself. Why this could'nt be done for the benefit of everyone I don't know. The point is that we have been misled, badly treated, spun yarns and the company has failed to deliver. The last but one post with if this and if that sounds like many of the posts over the last few years. I don't want anything to do with this shambles and a management team that in truth couldn't careless about its shareholders. Those are the facts of the last few years.
If PJ takes the company private and I retain my shares what would happen in the future when I want to sell them? Also, if the company increases significantly in value and other shareholders decide to sell thus giving PJ over 90% holding, would he be able to force the remaining shareholders to sell and at what price? many thanks for any responses
Is that a twitch in your eye? Strange to hear from you again given that you're out. You may recall that in fact you accepted the lower of the two offers on 20th February, quite a bit prior to the increased offer update on 6th March. Note, even if PDJ acquires 90% and submits a compulsory purchase order for the remaining shares, those who are still holding hold will get that higher offer. Perhaps others did their research to inform themselves of the realities. Also, realise that It is still possible (although more difficult) to sell shares in a delisted company to other traders. If a restructured and streamlined company eventually comes back to the main market (and there are precedents for this - if you read the previously posted hyperlinks) those shares may be worth considerably more than 0.65p. I seem to remember you posting that you were an amateur investor. Time will only tell what the future holds for Expansys - keep watching the news, and remember, nobody likes a gloater ;-)
Did someone say I blinked too early. I think I was reading the writing on the wall. Anyway these forums are good to vent frustration but usually uniformed.
I'm in the same boat. Might as well stay on it for the ride.
So, PDJ has chosen to delist as he has now more than 75% of shares/voting rights. Bottom line: If you do not sell, you still own your shares. PDJ has his reasons for delisting - perhaps to have more autonomy as he grows the business (see "growthbusiness" hyperlink at the bottom of this post) but as he is a tech 'guru' in a world which is exponentially 'techy', it is surely highly likely that this company will re-list at some point in the future PLEASE NOTE: If PDJ can achieve 90% of the shares/voting rights, he can impose a "compulsory purchase" on the remaining small shareholders However, these shares must *still* be bought at the current offer price of 0.65p Personally, I'm willing to hang on to my shares since I have already lost so much (after believing all the directors' bluster about achieving a good return for the shareholder) that the potential for this company relisting (possibly on the main market) is a far better prospect than selling at the derisory offer price Even if PDJ does manage to get 90%, small shareholders will stll get some of their investment back Worst case scenario: PDJ delists with between 75% and 90% and *never* returns to the market. Oh well. You win some, you lose some. It's all about risk vs reward. http://uk.practicallaw.com/8-502-2187 "A bidder has the right to compulsorily purchase the shares of remaining minority shareholders once, by virtue of acceptances of a contractual offer, it has acquired or unconditionally contracted to acquire both: Not less than 90% in value of the shares to which the offer relates. Not less than 90% of the voting rights carried by those shares." Finally, a bit of an insight into the possible reasons why PDJ has chosen to delist: http://www.growthbusiness.co.uk/growing-a-business/company-flotations/447206/delisting-the-great-escape.thtml
"PJ obviously believes he can grow XPS to new levels". I'm with Mozzila.....PJ has seen a serious money-making opportunity and whether he delists or not, I'm staying along for the ride. He's not not going to grow XPS using his own money forever; eventually (even if it takes a few years) he will come back to the market - to the likes of us - for his funds and that's when we'll make hay. I may get locked in for a while but hey, at least my money's safe. But eventually it'll be available and hopefully, at many times the value it is now. Yes, I'm in it or the long haul, whatever it takes!
You would own a part of the business, in time if XPS grew to the size of Amazon that part would be valuable, Im sure you would get a good offer for your shares, could compare it to some one owning part of your property, you wouldn't want that, the question is how long? PJ obviously believes he can grow XPS to new levels or he would not have increased his ownership, I'm holding for now
thanks for the response!! How would a price be arrived at if I did sell them to him at a later date? Also would I be entitled to a (very small) percentage of the profits?
If delisted and you remain a holder you are unable to sell other than to peter jones
What happens to my investment if I don't sell and the XPS gets delisted? Any feedback would be appreciated.
I bought initially at the same time as PJ. Hoping he would come up trumps rather than shafting us.
I stuck 20 grand in - sitting on a £7,000 loss at the moment. Gona sell £10,000 worth and keep the rest, just to see what happens.
I'll tell you what's going on in my opinion. Small shareholders are being railroaded into selling their shares to a dragon. Not long ago there was talk of brokers forecasts 2.4p a share and now the board feel 0.62 is the best offer and recommend you take it. I have lost 24,000.00. I still feel sick. Remortgage time.
Could Peter Jones keep this listed and then use it to reverse takeover his other interests like say Jessops ? I just don't understand why they have delayed final document unless there is something bigger in the works ?
Future Acceptances Expansys Shareholders who have not yet accepted the Original Offer, and wish to accept the Increased and Final Offer may wish to await receipt of the Increased and Final Offer document which should be posted shortly and in any event by 27 March 2014. Details of the procedure for doing so will be set out in the Increased and Final Offer Document (including, in the case of certificated Expansys Shares, the Form of Acceptance) to be sent to Expansys Shareholders. Interests in relevant securities The interests (all of which are beneficial unless otherwise stated) of the PDJ Bidco Directors and their respective related parties, in relevant Expansys securities are as follows: Name Number of Expansys Shares % of Expansys Shares Peter Jones 595,441,260 51.25 Neither PDJ Bidco nor, so far as PDJ Bidco is aware, any person acting in concert (within the meaning of the City Code) with PDJ Bidco, (a) has any short position (whether conditional or absolute and whether in the money or otherwise) in respect of relevant securities of Expansys, including any short position under a derivative, any agreement to sell or any delivery obligation or right to require another person to purchase or take delivery, or (b) has borrowed or lent any relevant securities of Expansys (save for any borrowed shares which have been either on-lent or sold).
6 March 2014 Not for release, publication or distribution, in whole or in part, directly or indirectly, in, into or from any jurisdiction where to do so would constitute a violation of the relevant laws or regulations of such jurisdiction. PDJ Bidco Limited ("PDJ Bidco" or "the Company") Recommended Offer for the entire issued and to be issued share capital of Expansys plc Offer Update Background On 15 January 2014 the boards of Expansys and PDJ Bidco announced the terms of a recommended offer to be made by PDJ Bidco for the entire issued and to be issued ordinary share capital of Expansys (the "Original Offer"). The full terms of, and conditions to, the Original Offer and the procedure for acceptance were set out in the offer document issued by PDJ Bidco on 12 February 2014 (the "Offer Document"). PDJ Bidco announced on 27 February 2014 a firm intention to make an increased and recommended final offer at 0.65 pence per Expansys Share ("the Increased and Final Offer") which will be posted as soon as practicable. The first closing date for the Original Offer was 3 p.m. on 5 March 2014. The Original Offer will remain open for acceptance until further notice. The capitalised terms used in this announcement have the meaning given to them in the Offer Document. Level of Acceptances As at 3.00 p.m. on 5 March 2014 (being the first closing date of the Original Offer), PDJ Bidco had received valid acceptances from Expansys Shareholders in respect of 184,858,113 Expansys Shares representing approximately 15.91% of the existing issued ordinary share capital of Expansys. These acceptances include acceptances received in respect of 17,121,699 Expansys Shares (representing approximately 1.47% of the existing ordinary share capital of Expansys which were subject to irrevocable commitments procured by PDJ Bidco from certain other Expansys Shareholders). PDJ Bidco also has received irrevocable undertakings to accept the Offer from certain Expansys Shareholders (see table below) for which valid acceptances have not yet been received in respect of a further 4,169,096 Expansys Shares (representing approximately 0.36% of the existing ordinary share capital of Expansys. No member of the Concert Party has so far accepted the Original Offer.
Please post/ask questions on the FLOW BB.
What price could you see this going to? I see there are Director Deals today.I dont mean to wallow either but would appreciate a little communication even if I am not in your gang.
Dcdan, Geckoman. I am with you completely. This whole thing is sickening but yes lessons to be learnt. Ok, I have mentioned another company before on here and I will not mention it again because I will be accused of ramping etc. Check where I have been commenting and the latest RNS today with director buys at today's SP. DYOR etc. but don't wallow anymore on this pile of rip off c r a p.
I have been in for 4 years and can only echo what you have both said.For a humble cleaner - 20k is a life shattering loss.Dreams also down the pan.I had such high hopes.