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ganfeng confirms that:…
pursuant to rule 31.4(b) of the code… it is anticipated that the suspended timetable for the offer will resume on the date on which the mexican antitrust clearance condition is satisfied or waived… it is further anticipated that such date will be the 28th day prior to the new day 60; and…
pursuant to rule 31.4(d) of the code… following resumption of the offer timetable in accordance with the code… ganfeng will make an immediate announcement confirming the new day 60…
There is no doubt that they will get past the 75% marker, but the delisting won't happen overnight and it will be interesting to see what happens first. I just put in an order to sell the small stake I bought yesterday, but I'm not too concerned if it doesn't fill. I already own some Zinnwald, and would use the cash to pick up more shares when the price drops because of the sudden glut on the market. I have no idea why tomcat would predict a 5x increase at delisting, but he could be right.
a suspension of the offer timetable will end in one of the following three ways…
automatically… following the satisfaction or waiver of the last condition relating to a material official authorisation or regulatory clearance (with the day on which the suspension ends and the offer timetable restarts being known as “day 32” to ensure that there is sufficient time for the target to prepare to announce any material information… which it must announce before day 39 so that target shareholders have 21 days to absorb such information before day 60);…
they were anticipating that the offer would resume at t-28days once macc1 was obtained… but haven’t said so in today’s rns’…
At current share price you at still getting Zinnwald shares at effective discount to market.
That will end at close of business today so it’s a limit opportunity only.
I don’t think being a private shareholder in a Chinese majority owned company is going to be that rewarding.
The new owners can easily try and dilute pis by calling for a capital raise as a private company to dilute holders down and if they get past 90% they can squeeze out minority.
I think they will get past 75% I just sold my very small stake.
personally i can handle them keep nagging at me to accept the offer… never gonna happen… but it’s their threats and bully boy tactics to de-list that doesn’t sit well with me… and if they do need to go that way… fingers crossed… then the value my shares will instantly increase at least 5 fold at that point… just hope they don’t get up to 82.22% before they have to close this offer… when are we having day60… 14jan???
Ganfeng is not squeezing dead oranges, but Dee is complaining about sour grapes. Before Mexican approval, Ganfeng could buy on the open market only up to 35% ownership. Today they can buy as much as they want, and will save money doing it even at the suddenly-higher ask. It's over. Go home.
It is getting on my tits.
They should ask "Do you want us to **** off?" YES/NO.
Sorry new to this . Just looked at the forum to see why price increase and it looks like the share is being sold??can someone give me a clue what’s happening and what I do ?
..and the ZNWD shares are worth less than they were a few days ago !
Hi,
Does anyone know when we could expect the money for our shares from selling BCN? ?For tax reasons I would prefere next year..
yep… it’s a bit like a marathon… the last few steps to get over the line are the hardest…
Yes
Correction, the % appears to be 74.1% as there are now 387,136,502 issued since this mornings RNS
I will also add that it's testament to Ganfeng and The Board, that the only way they could even get this close, was to constantly badger private shareholders asking the same question on multiple occasions.
Would you like to accept?
"NO."
Sorry, would you like to accept?
"NO."
Sorry, would you like to accept again?
"Err... This is getting scary... I had better accept.."
Would you like to accept more of your shares?
"Actually, I don't want to accept any. Please revoke my acceptance"
Sorry, you can't. Would you like to accept the remainder of your share? We have a new new new deadline?
"&!&!&!&!"
That's literally the only way they could manage to get even this close.
Can I ask someone with knowledge, I have 10,000 bcn shares, with I get £6800 in cash paid to my broker plus .235 zinnwald of a share put in to my share account, I want to know how I get my £6800 investment back.
Thanks in advance
Can anyone confirm the latest % who have now accepted the offer. The new shares issued to PS and others amounts to 2.9M new shares. I calculate that brings the acceptance % to 74.67%. Does that mean GF are practically there?
We're now expecting the timetable to be confirmed, and we'll finally have a date.
73.9% means they're only up 1% since the last announcement.
It's squeeky bum time for all concerned, and there's probably only 1 or 2% left to play for.
Ganfeng managed to attain an additional 1% in ten days.
Of that 1%, only 0.3% looks to be from retail, with the 0.7% coming from BCN director options.
They're at the point of squeezing dead oranges now, and we know all the institutions aren't accepting.
Thanks Sharealot.
I had this issue with IG few time now.
except today is the record date… the ex-date… ex-distribution date… ex-dividend date… is next monday… so you have until then to buy bcn shares and receive the zinnwald distribution…
Please read above, you can have S&S ISA or Share dealing account with IG. It's not just CDF or SB
Sorry looks like IG.com offer a share dealing account too.
That's not true, you can have a share dealing account with IG or an S&S ISA where you buy and sell shares. (CREST form and not a certificated) CDF of spread betting is a totally different thing. Please don't confuse people on this group
In theory tufftrader price could go up today because if you own bcn shares are 6pm then you get 0.23 ish znwd shares that are worth 16p, so another 3.5p say. So if you want znwd shares that cheaper way to buy them today is via bcn stock.
It's a bit like asking "does anybody have the recipe for turning lead into gold?". The shares are sort of worth 67.5 plus a few p for the ZNWD shares.
IG.com is a platform for contract for difference, it's my understanding that you don't own the shares you just have a bet on the share price. You can find out more here https://www.investopedia.com/articles/stocks/09/trade-a-cfd.asp.