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itisagame is correct - it is 75% of the votes counted.
So, as soon as the date for the General Meeting is announced you should contact your broker or agent or whoever you use to buy/sell shares. They can either arrange for your General Meeting invite OR have them vote by proxy on your behalf.
Doing nothing is going to favour the delisting.
It’s 75% of VOTES CAST at the GM. So If only BV vote they will have 100% of votes cast.
Basically You need ~9.6m shares between you to ensure that you stop it.
So How many shares do you all own combined?
Been down this road a few times on various shares.
"The odds of the board not finding another 8% is virtually nil IMO."
BVT own 67.1% of Defenx and Stecconi (the founder) owns 2.58%, so together: 69.68%. They are the only shareholders with >3% share holding so they are over 5% short of what they want to do even if they act together. The only way they will secure 75% is if PIs vote for it. There is no apparent incentive for any PI to vote for it, either individually or collectively. This share was 8p a year ago and 130p two years ago. Apart from the recent penny share-buying types most long-term investors are going to get slaughtered if they agree to sell at current rates. BVT will need to make a buyback offer at a rate that would enable them to get to the 75%, otherwise they cannot delist.
"It would require at least 25.1% of remaining shareholders to make the effort to vote, and given the bulk of those are gamblers I can't see it myself."
Nobody needs to make the effort to vote. They need 75% positive votes to delist. Those who vote against, or not at all, stop the 75% being achieved.
"It is interesting that the % is still the same, so they are not buying on the open market? Which is kind of odd and you can kind of assume they know they have 75% or they would be buying on the open market at this low price?"
A company can only buy shares on the open market with explicit authority from its shareholders, usually at its AGM. That's why AIM and other stock markets are regulated, else companies could undermine PIs by covertly acquiring majority shareholding on the cheap at PIs' expense. You don't sound very knowledgeable on the basics of stock markets. I'd be very careful if I were you.
There is a proposal to De list.
All the time BV Tech only have 67.5% there is hope ,seen it many times before a reversal ,otherwise they would just De list an Can’t .
Surely today's RNS only proves what LB28 said. The board are carrying on with the delisting come what may. They now control virtually the entire vote. The odds of the board not finding another 8% is virtually nil IMO. It would require at least 25.1% of remaining shareholders to make the effort to vote, and given the bulk of those are gamblers I can't see it myself.
You can’t “shut up shop” until you have 75%. They don’t have that. The meeting being called in December or January will vote on that. It’s currently November. Hence, you can not “easily shut up shop” without the regulatory mandate to do so. Why it’s so confusing to some that this can’t happen until the December/January shareholder meeting that the Regulatory News Service notice explicitly cites is frankly comical. AIM is regulated. The RNS is a regulatory notice service. The statements made in RNSs are legally binding via regulatory rules. It is not “easy” to break the law without extremely serious consequences including sequestration, prosecution and imprisonment.
Not over to the fat lady sings.
No speeding Ticket . 67.5% is not no where near enough. This is not a forgone conclusion.
50/50 chance but we Multibag if this does not Delist. Seen it many times before.
It’s not rocket science this is why they are taking it private
“ Pursuant to the Distribution Agreement, BV Tech:
i) will have the sole rights to sell Defenx products to certain bodies within the Italian defence, space, national security or critical infrastructures sectors, through to the end of December 2023 for which BV Tech will pay Defenx a total consideration of €1.0 million, to be invoiced in three instalments before the end of H1 2019. In addition, Defenx will receive a royalty fee equal to 50% of any revenues from the sale of its products (during the period to 31 December 2023) to such clients in excess of €5.0 million; “
It’s Cheaper for BV to take it private, take the software and keep 100% of would be royalties .
Once delisted You might get an offer from the company (or BV tech) to buy the outstanding shares but that’s about it. It’s a red or black bet.
You can easily shut up shop when you need 75% of shareholders to vote in favour and you already have the largest holder with 67.5% agreeing to do just that. If the RNS comes stating the meeting is going ahead then it's all over bar the shouting IMO. I don't quite understand what people are gambling on here?
Because the last RNS clearly stated that they require shareholder approval to delist and they intend convening a general meeting of its shareholders to approve the delist, to take place in December 2019 / January 2020. You can't just "shut up shop".
Nothing would be handed back if Delisted it never does.
How ever, there are a few pointers that make me feel delisting will not happen, if I’m correct DFX will Multi bag .
Something going on behind the scenes, every chance this will not be delisted.
Another 5k buy this morning somebody is accumulating under the radar as there is only 9 mill shares in free float so has to be done very slowly.. I think we could be onto a winner here guys........ buy when everyone else is scared is how you make money on Aim
Risky Indeed.
However If DFX does not De-list which I suspect ,there will be Massive upside.
20 Code .
It’s all a load of bolliiiiiiie
Despite the raise of the ask ?
Fair play .. was not a Dig I was seriously wondering GL
And plan to vote No I suggest everyone else does the same if the circulars ever get posted of course
No mate I have a million of these at 0.60so I think I know what I am doing
I Notice your Opinion is of strong buy ...
Is the reason hidden in your Name ,or otherwise??
Yep could be a great return if someone swoops to take over
Must be some seriously big losses here, I’ve had my fair Share over the years also I’ve had some superb results.
Feel Good about the chances here.
GLA.
Had a punt Thanks 200,000 .funny NT to buy more ...
Yes. Wouldnt invest the life savings lol. Huge upside if something positive happens. DYOR