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Thanks 4jaytee - is there a timescale of when we will receive the funds from the sale ?
Do we have to go and accept this offer or is it automatically sold for us. Also do we incur the selling fees Thanks
kevfp You will get the 800p
Whats the situation for those like me who accepted and returned the paperwork @ the 750p offer ?
ok,cheers.
Google the Dragon Oil web site and you will find everything there.
what you seeing,all I see is advertisements.
Have a look
Have boosted there offer
Feel sad having held these shares since they were 32p, however time now to move on to pastures new with my profit. The increase in the offer to £8 a share appears to be what people were holding out for.
The sale did not go through so my understanding is all bets are off. Everybody will now have to wait for the end of August and I would think ENOC will still not be able to buy shares so if the offer price is increased it will be for everybody whether you accepted the original offer or not, they can't have two bid prices as the £7.50 price sale failed.
As the offer has been extended, are those investors who have accepted the offer locked in to the August date? Are ENCO able to buy in the market at this lower price and increase their holding percentage?
We should find out tomorrow if the offer has been successful. It might have failed and the speculation is that ENOC will extend the time. This may be to increase the offer which is what some of the big investment companies are pushing for. If the sale does go through then you will just get a cheque for your shares or if ENOC just walk away you get your shares back.
Sorry Guys completely ignorant. Sent off DGO form for £7.50 What happens now? Can I get a return for £7.50 or have to wait for DGO to respond Advice please Thanks
Further to my earlier post it now seems likely that ENOC have not achieved the necessary number of shares to take the company private. If that is the case then they might extend the closing date which was tomorrow at 3pm.
Tomorrow is the last day of the offer so we should find out on Friday if the offer has been successful or not.
When will I know if they have bought my shares?
Sorry Cat, I am out - with my 549 shares to long a wait from buying 18 yrs ago and too much to lose if they get de-listed good luck if your gamble pays off however
Although I obviously don't want to get locked into a de-listed company, I am backing Baillie Gifford and the other large shareholders in holding out in an attempt to get the offer increased. What does anyone think about the chances of success with this?
I think ENOC have the most to lose from no dividend, they have 54% of Dragon Oil shares imagine how much that puts into their bank account every 6 months.
kevfp Yes. Many people are getting these calls. They are from a company called Georges and they are trying to make sure that all shareholders are aware of the offer and that if you do not confirm that you wish to sell that will be treated as a refusal although this may not be the case if you held the shares in a nominee account and they decide to vote to accept if you do not contact them. You need to check to make sure that your wishes are being acted on
I received a phone call last night from a company acting on Enoc/ Dragon oil behal asking me if I had received the paperwork and had I considered the offer.... I answered a vague yes - has anyone elsereceived such a call over this offer?
Davie Think carefully. If ENOC fail to take over DGO the price will plummet as the dividend will be factored out. Blackmail it is but unfortunately ENOC have the power to force sensible people's hands. I doubt that major holders will hold out for more after this latest announcement.
Well, I was in the yes camp for accepting the offer but this news from ENOC about not supporting any further dividends if we say no to their offer smacks of blackmail to me. Surely they can't legally do that so I am now thinking about the no camp and rejecting their very underhand way of doing business.
Hi Davie46 - thanks for clarifying that - we were going cross-eyed reading all the paperwork.