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Lol, all the rampers left the building!
seeing a drawback in the last 5 mins.
I will presume we have the 10% ers selling the spike as I doubt Clem is flogging his options - he'll be keeping those to vote.
Yeah can’t buy a bean on the dip gonna be a mad scramble to get in here expect a very sharp rise Mid morning /afternoon. Wouldn’t wanna be out this one over the weekend !
Yesterdays TR1 from ADVFN ex Director Mr. Yair Tauman confirms that the Israeli group that tried to take control of ADVFN in 2015 are back with a vengeance. Yair Tauman has declared an increase in holdings from 9.44% to 18.31%
For those that don’t know the history, it went like this. In 2015 an attempted ‘putch’ was launched, the share price went through the roof, as the group, posing as Sweet Sky Ltd and Shellhouse Ltd ‘Officially’ declared 25%, which most believed was closer to 40% through the dark arts of undeclared ‘other’ parties holding stock.
At one point requistioners were contacting ADVFN private shareholders trying to buy their holdings, requisitions were launched, the FCA became embroiled and eventually the battle for the Company was quelled as the custodians acting for the group; Bank of New York (Nominees) and Bank of New York Mellon decided not to proceed with its requisition for a general meeting, they advised their clients that they had gone about the takeover the wrong way, breaching numerous FCA/SEC regs. Ergo the plug was pulled. Victory, Clem Chambers. The SP at the height of the requisition went over 150p.
What wasn’t known at the time was that this group had previously taken control of a little known company called QXL, which changed its name to Tradus, which then went on to massive value rises, ultimately QXL/Tradus, being sold for a whopping £946M to Nasper.
o the history here looks like a re-run of the 2015 takeover of ADVFN.
You can expect that todays news will be followed by more increases in SP and declared holdings with a requisition for a General Meeting. This could hit £2/£3 over the coming weeks/months as either party look to secure victory..
Oh I just noticed todays RNS lol
Good start.
I imagine there is going to be a scramble for shares here today
Looks like a buyout is gonna happen
I see truth to the rumour
A telling share grab .
They had chance last thing to take profits and it rose into close so should rise first thing I’d think
Big sell off in the morning with the 10% crew making a quick buck. Expect this to drop back a bit first thing with no further updates then hopefully a steady rise in the afternoon to consolidate this share price ready for the next leg up. Some decent trading opportunities if that’s your bag imo.
Thanks Simon, this info helps me.
Yes 30% triggers the mandatory offer which must be no less than ‘... the highest price paid in the last 12 months..’. Clearly they will be aware of this and why they will not want the price to get too ridiculous. But of course the brokers will be involved and likely know the price they are willing to pay and will manage the price accordingly. Nothing in the city is left to the whim of urchins like us getting too rich from them. If they are willing to pay £1.50 the MM will know and ensure order below this price is maintained. Take a look at the who holds and you will see that there is only a 40% free float. That was when yair had only 9% so his extra 9% takes that to just 30% given we have no corresponding RNS that is from a notifiable holder having sold.
That's the answer to my question I was asking earlier, so he needs 30% then he has to make offer?
Tik tok... Takeover coming!
I agree tomorrow should be a strong day. May test £1 given the limited free float and justified momentum given the stake building. If it does I will offload a few more. That said I often sell too soon. Thought I was smart buying OBC for 20p and selling at 40p and we know what happened there. The markets are mad and there is a real possibility this could be hit by a deluge of bull traders and it could be carnage and the price could go mental!
Come on! £5 is £125m. Not going to happen. £1.50 max. The quicker they get to 30% the better for them. At 30% they must make an offer for the full share capital. The price range is governed by the related criteria which is based on recent pricing ranges. We will just have to wait and see, likely to not happen too quickly though. They are in no rush as yair has been accumulating for 18 months. They are not going to buy on the open market into a feeding frenzy. If it gets too toppy they will just wait to let it die down and eventually pounce when all is in their favour
Will be interesting to see what the takeover price ends up being here, a bidding war could presumably take the final offer to £5 + ?
Once again thanks for the contribution Simon, much appreciated.
As a longer term OBC holder I came into the story behind this potential takeover late (as in took the plunge today with AFN and probably bought some of yours!)
I agree that a sensible price has to accommodate an upside for both sides, and my judgement of OBC's business model matches your view on Clem.... There may be a potential to trade the rumour here, but timing spikes etc can be a fool's errand. Either way I expect some volatility at the very least tomorrow as the rise today hits people's evening digest.
Interesting times.
Another Yair Holdings RNS tomorrow at some point I'm thinking.
I'm not too clued up on Takeovers, what's the procedure that will transpire here?
Absolutely. This company is going private. I have watched it now for so long and indeed traded it into its infrequent dashes up and long depressing declines. Yair was an ex director of ADVFN so he knows the business intimately. He has gone from 4% to 18% across 3 cycles of purchasing. He is not investing to have old Clem look after his investment. He is a renowned mathematician and game theorist and know the financial markets and what ADVFN can be. It is a great brand with 4 million subscribers but pitiful revenue. It could be transformed to a £100m turnover business pretty quickly in the right hands. I think a market cap of @£25m or £1 a share is a reasonable take out price and leaves lots of upside for the new private owners. When I bought 5 years ago I expected it to be taken out within 2 years. Been a much longer wait then expected, but this time it will be taken out.
Picked some up at 66p but was NT for about 10 mins for me
Not so sure Paul - the RNS on holding came out today after big buying in the last 2 days - now it's moving our new man may act quickly
Don't pile in after 90% rise.....any news will be weeks months away ....
Got some more b4 end :-)
nt to buy
nice tree shake