The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
It meamns it stinks. What hope does any company have, and this was a company with such potential, a UK company (disregard the directors because they have pocketed the loot). All hope is vanishing and it is is because of our own personal, instant greed. I would normally add gla, but luck has bugger all to do with AIM, or anything at the moment. Such a shame.
what… on 22dec2021… i doubt it… it has to be related to the zinnwald distribution…
I guess because of being in the process to be delisted will not carry any weight in the said index...
and thus, GFL will be a major shareholder in ZNWD with circa 26.2K shares. Is another TO in the making? :-)
what’s it mean…
Timed at 17:30 ....
@john Totally understand that. I think most brokers are still open for acceptances until Monday or Tuesday so it is quite possible that 75% will come by then. Will be watching the price movements with interest.
Yes Bob, understand that, and fully understand the nature of the distribution as a dividend.
That is interesting in the UK as i think with respect to taxation the ZNWD shares will be taxed as income because they are a dividend, presumably at their value at market open on 22nd. For future Capital Gains the same share price would be used as the acquisition cost. So no need to split the BCN acquisition cost between the 2 holdings which would have been true if the ZNWD shares were part of the offer.
There seems to have been much confusion here with brokers - the offer form I had from my broker phrased the ZNWD distribution as part of the offer - I would cut and paste it here but it disappeared off their website when I accepted it.
I know you have caused a bit of upset with some of your comments, but much of what you posted has been useful - in particular the spot on 15th about the Mexican meeting on 16th, played a blinder there.
nice big buy… out of interest… what happens to shorts in this situation… do they have to close out before the shareholders who’s shares they borrowed get paid…
@johnpwh The offer from Ganfeng did not include the Zinnwald shares, and they are continuing to hold the ones they will receive because of their pre-offer holding. The Zinnwald shares are a dividend declared by the BCN Board, subject to capital reduction rules and the condition that the Ganfeng deal becomes unconditional. Ganfeng had to agree to let them do it, while still keeping their cash offer in place.
If I offer to give you a candy bar if you sell your shares to Tom, that is a different deal from the one you two have. Even if it involves ownership of the candy store.
This was more than half of it:
17-Dec-21 14:02:57 68.00 2,832,000 Unknown* 67.00 69.00 2m
indicates that GFL may have passed the 75% threshold
I'm not sure about the ' :)'.
This was one I was hoping was heading skywards over the next few years. I'm up on the deal, but not nearly as much as I was hoping for long-term.
@whodini - i spoke earlier with the 'corporate actions' manager at ii and also with a guy from the takeover panel. These rollover deadlines are basically in place so that the receivers - a company called Link can make their own processes work.
The brokers will be updated and a new acceptance date will be put in place. You'll still get ur ZNWDs on 22nd; so my advice is - don't worry, it will happen. :)
You'd expect my broker to be able to confirm that with me. I repeated this information to him, and persistently got told the offer to accept was closed. if I can't accept through my broker, what is another way to accept?
''The Offer will remain open for acceptance until further notice.''
Come on people - read the RNS's........ Also the offer document , to paraphrase, you will be able to accept the offer for up to 14 days after the offer becomes unconditional. I expect they'll give a final acceptance date sometime early Jan and then update the brokers
Hargreaves Landsdown have explained the offer to accept is closed.
Matthew it wont instantly delist at 75%, GF will need to make an application to the Stock Exchange.
So xd is 6pm tonight and the shares sold from Monday will not have the ZNWD distribution attached. So I'd guess the SP will drop to 64 ish Monday? Or will it - what does a buyer next Monday morning get? Not the ZNWD shares as BCN will be xd. Can buyers from next Monday accept the offer even though the offer included the ZNWD distribution which they wont be entitled to? Confused and bewildered
if I dont accept, the company delists... and I feel my money will be stuck with this company i do not trust.
On Interactive Investor the offer is open until 23:59 21/12/2021.
Gives you no option to accept anymore
... further resistance on my part is useless and detrimental to my interests.
So still only at 73.9%! LOL. So close yet so far, seems it will remain listed for a wee bit more. At least we get our ZNWD shares on the 22th.
It’s crazy that Ganfeng really got BCN this cheap but what’s done is done, if you are looking for some new hold/trade check out MATD - just a few main points why I think it’s a great 6-month trade opportunity:
-$10mil fundraise done in July at 3.5p, now trading at 2.6p (almost 40% discount)
-Mcap of £24mil (£7.5mil cash) with 194 MMbo (33MMbo+ recoverable) discovered in 2019, discovery well floated 800 bopd
-Awarded Exploitation license this year, production planned in the summer of next year with three wells, all fully funded with processing facilities nearby
-SP historically tends to trend higher in Q1 (drilling season starts around May in Mongolia)
-Much more appraisal potential on the block XX, where Heron was discovered with shallow low-cost wells
-Upcoming news: offtake agreements, rig & equipment contracts, potential JV, start of drilling campaign
-For traders: There is also a gap between 3.5-5p:)
Have a look through the power point presentation (on the website) and video presentations (Youtube) and do your own research, I think it’s definitely worth half an hour of your time. Have a good day!
16dec… day92*… 172,931,513acceptances… 1,879,690/day…
75% rns should be monday at this rate… but it does seem to have dried up since the previous acceptance update… only the hard core left…