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Probably being ignorant here, but filling my forms out now and just wondered if you need to enter your holding if you're appointing the Chairman as your proxy (TO VOTE NO), or if I leave it blank, will they simply assume all my shares are for voting NO ?
Well after years of investing with Amer looks like we have 5 days left !
* will a counter bid eventually come In and save the day.
* will the sale to Geopark get voted down, if so will the SP drop back.
* will the sale to Geopark go through.
Question is :- Do you sell if you haven't already and protect your capital or do you listen to JW/ and hold onto you stock as they recommended.
Clearly looks like they are buying to block. Perhaps just speculative. If gets voted down they can then hoover up some more cheap shares and compete in the market against Geopark. If the vote goes through nothing lost.
When the original speculative offer came in from M&P they mentioned that they had been speaking to iis. This suggests to me they have at least one investor block on their side. Think many PIs have derisked here but still a significant number that will vote against, so the outcome of the vote is by no means certain. 75% is a big hurdle if abstentions/no shows don't count in the voting and there is a reasonable sized group who are against.
I'm still waiting on Lloyds to come back to me but will deffo be voting no
Just speaking with FCA now. Not under their jurisdiction. So forget that.
Only choice is to complain to the Company and get legal advice from Citizens Advice for any possible misconduct.
Waste of time.
from COLOMBIA. still rumblings going on here with demonstrations and spasmodic street blockades. Nowhere near as damaging as French disturbances but rather an uncomfortable element. I cut my losses and sold.......and, hoping the spotlight wd move away from HK bought a couple of stocks there
M&P state they have no intention of making a takeover offer for Amerisur. So why are they still involved??
My only theory (apart from seeking a small return on investment which looks ridiculous as they have a balanced position short and long) is that they may be looking to obtain a blocking share and possibly take control of the company without pursuing a takeover.
They could grapple control from under the nose of Geo Park if they are tapping up II's to sell their shares at a higher price than the Geo offer. Acquiring a blocking share is perfectly feasible as long as it doesn't fall foul of the takeover panel, we wouldn't get any warning of the action until they accumulated sufficient shares.
Most likely barking up the wrong tree but M&Ps continued involvement makes little sense.
Also ONGC have issues a tender for the provision of pipes for 2 wells, these must be in addition to the existing 2 or surely we where being lied to big style on the drilling plan by our BoD/ONGC or both. I suspect as soon as we approve the deal the drill bit will start spinning and IMO on an expanded programme, and Geo may be bragging about new oil resources and an exciting programme before we are even paid up - we have been duped IMO, anger has subsided for many now but it does not change the underlying disgraceful situation.
Anyone that invests in Ironveld or any other venture controlled be the 3 amigos has only themselves to blame for losses.
Do I feel the sales price is fair value, no so I’ll vote against.
Short term in a no sale situation where will SP go, I think down at least initially
Is there a chance of counter bid, better price, yes I think so but how likely hard to say
Given this I’ve opted to sell some of my holding to take up other opportunities and retain some to see. How things pan out. It’s my investment decision and it makes sense to me
Bumblingfool, I don’t get it! You sold most of your holding around .6p under the cash offer price because you feel a no vote will see the price fall, and voted no! A yes vote and you would have had more cash! Seems totally illogical to me!
Has anyone followed Lucypoop's suggestion (over on ADVFN) to email the FCA, questioning the suspicious behaviours of the BoD?
Simple copy and paste.
It's a long shot but if enough conerns are formally registered, then perhaps they will be prompted to closley scrutinise the deal.
Kind of you, N2M: thanks! Impressive profit here for you too: well done. See on the PPC and other boards. Onwards and upwards...
Just decided we should ask if it could be held at The Old Bailey as this would be much more appropriate.
Fancy having a pop up banner with bells on saying "seriously undervalued".
Thanks cautionyourblast and thanks Gibbo. And, CyB, I appreciate you do exactly what it says on the tin in terms of your unsername and post content matching up. And looking forward to hearing from you over on PPC.. (Another very tough journey that one.. but the posters there are, on average, more humble than I witnessed here, imho... but a low average there will see most ok in the end there I guess too)
Sent this before finishing. Was going to say that at the end of the day no other bids have come in so perhaps just **** price.... But stipulations re the sale have effectively prevented the market from working to give us a fair price.
Perhaps a no vote would at least allow a correct proper market-based pricing to be realised.
Running out of time on this now re another offer coming in. I've reduced my holding but with what's left I intend to vote no - even if it costs me.
I hope IIs invested here likewise vote "no", otherwise they're as corrupt as the BoD. Simply want to prioritize the desires of the BoD and one or two big shareholders over the rest of us. Massive conflict of interest.
I suspect that they've prioritized speed and certainty of sale over price because they want the cash to deal with their ironveld Interests. If it turns out this way then criminal action required.
Ok. Rant over.
Voted NO via ii
Thanks for your thoughtful posts, N2M: I’m sorry this has been such a difficult one for you and many others.
I hope to continue to read your thoughts on other shares in future. I’m also in PPC and will probably redeploy a bit of the AMER cash into SAVP.
Best of luck
a few thousand shares held here, i have just voted against the sale via hl .
Well done that's a good return. I'm going to hange on until the end, I dont think we have heard the last of this sale yet and am willing to see it through... after all thats what our board suggested!
Seems we only have two possibilities: 1 the BOD have sold the company unnecessarily and at below value or 2. The BOD have mislead everyone as to the value of the assets. I do hope some forceful shareholders can be present at the meeting to demand an explanation for the BOD's actions.
I've sold out my final tranche here today.
I started buying at 28p a fair few years ago and including much averaging down it has been a hard and annoying journey, to the extent that I grew to dislike this share significantly.
In that context, while I feel this offer is a very poor one, I'm still happy to walk away with an overall 30% profit.
I expect I'll talk to some of you on other boards here in the future.
(ps: while generally looking to reduce my oiler expose decently in the near term, I have added some of the proceeds from here onto my SAVP and TRIN and PPC bets.... in hope as much as expectation, granted )
Evening all
This is turning out to be a real cluster fcuk.
19.2p from one bidder, I dont believe it, but what to do?
Over 150 shareholders with circa 85Million shares are going to vote NO.
Thats what's to do, maybe a few others as well wont be happy and join us
in saying NO.
I see no other realistic view in airing our dissatisfaction along with cut
and paste Lucy's letter to the relevant take over authority/panel.
Now its down to each and everyone of us to get hold of their broker and insisit
they follow your instructions and vote NO
A stitch in time saves 19.2p
Assuming next Friday result is no deal ! can we then expect to see the SP dropping ?
Just got my Corp action through and have also voted against. Fingers crossed
Look at TSX:GTE as this is where you trade. No real changes since qtr results.
The LON price is crap. II and HL GTE transactions are based on TSX.
I just think our BOD want to retire and the suitors want a decent profit for their trouble , so it is being sold at an attractive price that suits everyone , except us!!