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Ha....that’s probably the funniest thing I’ve read for ages....DS,ability to spot flaws in cunning plans!.....I think you need to clear your head and compare the two companies.....mmm let’s see,one is doing rather well and the other is a ship minus the rats......
Weldone ATC board for not being desperate enough to swallow a bad deal.......ds either come back with a better offer or we go for another liquidity event independently
I was also wondering why they needed to do a RTO and couldn't just list as themselves, it would save a lot of trouble is dealing with a shell would it not?
Why do they have to use a cash shell and do a RTO to relist? Can't they just apply for a relisting for ATC and then proceed with a RTO later on when the opportunity pops up?
I am sure they will wish to try again, might take 6 months
It's absolutely crazy, but I'm hoping a better deal is in the works now...
Seem to have all the answers to our questions but it’s for subscribers only. Any of you guys have access?
This was not a mess up.If DS were late but still on board the lapse date would have been extended. What almost certainly happened is that DS got greedy and as a result ATC told them to get lost and it lapsed. This is good management by ATC both in protecting our % and not being willing to accept a change of deal from DS.I dont think ATC would have been able to walk if some other buyer had shown up as it was up to DSS to accept.
This could work out for the best.....excuse the pun......roll on the revised offer or fresh thinking.....plenty of shell companies out there......
And another thought......this was not a straightforward takeover of our company,ATC needs a platform/shell to complete the next phase of growth/investment......if the DS shell fitted the bill it was mutually beneficial to both companies.....this failure imho was purely down to money and percentages.....DS did not meet the deadline because imho they bartered for more cash,ATC said no way then no deal and offer lapsed......
I think Spikephoto you and indeed the rest of us need some answers as to why this situation arose. its a complete mess up
I'm completely confused about the 31st march lapse date. That was a Sunday, don't know if this was significant. The question is, did DSS confirm the acceptance of the takeover or not?
Lots of speculation Bazinator, but quite honestly, nobody has a clue!!!!!
If the takeover was to actually happen, does anyone know what the share value would be at the start? Like 0.7p or something? And taking into consideration what land/mines ATC have, what the share price can increase to over the next few years after listing?
Its all making sense now. DAN AGM on Monday 25th March. Note later that day to say that all information will be detailed via website and Twitter on Monday 1st April. Lapse date of 31st March. News on Monday evening giving us bollox all. mmmmmmmmmmmmmmm, see where I am coming from here????
Lapse date of 31st March
they could not meet the conditions of the offer as set out in the offer documents
I don't know what conditions weren't meet but there must of been some
Atc must have had full access to ds accounts as they were taking on all liabilities?......I also think there was a vote a few weeks back results unknown......maybe one of the ds holders can fill in the blanks regarding that......
What conditions couldn't DSS meet ? DSS shareholders weren't included in decision making regarding the offer. So do you know anything about the directors or anything else? I'm not sure if there were any conditions that DSS had to meet.
Thanks Al.....it must have been quite serious as atc have been patient with their shareholders,something irretrievable like a black hole in their accounting or just failure to open the books......maybe atc has said right ok you can have 5% or we walk?
Dss could not meet the conditions of offer by 31st March not the responsibility of Atc 2018 account will be made public may or early June is will be later in the year before more news on various options
Good post Mexican stand-off.......I have emailed twice asking if the company has finished business with ds and got no reply.......that says to me ATC is playing the greedy ds directors at their own game.....I await the revised offer but in the meantime the share cert issues goes on auto pilot and certification is returned.....unfortunately this does happen in business and in every day life......it’s amazing how even a house sale can end up with a surveyor finding a fault just before exchange of contracts,cornering the seller into reducing the price as they had already spent the money mentally.....I’m sorry to say if we are playing the hard ball thumbs up,but if it’s ds I’m glad we have hard nosed executives that will walk.......
Agreed chaps. I'm a DAN holder and find it very hard to believe that there was either the number, or the will of DSS shareholders to reject the deal. It was a lifeline that I thought would be grasped by all the DAN's without question. To me there is either a legitimate problem within the terms of the offer, or there is a Mexican standoff going on. In either case the offer could be back on the table once the shenanigans have been sorted, or an entirely new offer with adjustments within the terms. Just cant believe why one or both parties would walk away at the first hurdle.
Just Called Link for those who sent in their certs. Share certs will be posted back out to us within 10 working days.
These are the questions we need to be asking them. I still cant understand how this never got over the line when DAN had "nothing" to lose. I bet their shareholders are just as p1ssed off as us at the moment. Some serious answers to questions need to be asked/given!!!!