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hello ,,,,,
Following recent media publications regarding a possible change in Company name and location of Head Office, Eurasian Natural Resources Corporation PLC ('ENRC') would like to clarify that it has no intention of changing either its name or its location. ENRC shall pursue any publications that print incorrect information about the Company.
Chucking out the positive RNS's. Goodbye and good riddance!!!
Then again NMH19 maybe not as you appear to be the only or one of the few disappointed long term holders still around on these bbs so there's every chance the rest have already let go? I only joined in here for the trading opportunities I knew would come from a takeover offer the consortium were going to go for or face the free float here having to be compulsorily upped. I have been quite surprised in fact at the lack of posts on here from disgruntled long termers over the recent months and you only started posting yourself on here very recently so I am amazed you kept your powder dry for so long. I also couldn't understand your recent questions given that the answers were in the public domain in the published rnses so you must have doubted their content? Frightened rabbits are a band from Selkirk and I was not mocking anybody as I haven't decided yet what to do with my own allocation of kaz shares from here nor the money. I'll make that decision for myself without taking any cognisance of anything written on a bb I think. After all, there's been a whole load of rubbish spouted about this takeover on the bbs over the months from the guy who said the £4 offer was as good as in the post to the people who quoted the FT Alphaville lads with the £3.40 and the others who thought £3.70 was in the bag and the guy who was pretty sure on here and on iii that kaz wouldn't get the vote lol. So as to kaz, we'll have to wait and see eh? I posted correctly on here that it was in free fall the day they recommended acceptance of the offer for enrc so many of its own disgruntled long termers have already gone. I see you have popped up recently on that bb as well. You're not a long termer there as well as here are you? lol free fall, I read another poster use those words on the rbs bb this week and,cynic that I am, it convinced me all the more that it was time to buy that day - and it was was. This is my last post on here so I'll not be looking in to read any responses. They are in a way only rhetorical questions I am posing anyhow and I'm not sure I would believe any response tendered in any case lol.
It's interesting to see the both Deutsche Bank and Barclays have low SP forecasts for Kaz - a co-incidence?? I doubt it.. QueenElvis you could be right re the big sell off.....
Rabbits sell their kaz allocation as soon as they get them.
Oct 25 (Reuters) - The founders of Kazakh miner ENRC , whose bid to buy out minority shareholders went unconditional on Friday, have applied to UK regulators and the London Stock Exchange to delist the company. The trio of billionaire founders, who launched the bid alongside the Kazakh government, said in a statement that ENRC would now re-register as a private company. http://uk.reuters.com/article/2013/10/25/enrc-delisting-idUKL5N0IF1N520131025 Shareholders representing 96.7 percent of ENRC shares have accepted the bid. Outstanding investors will either tender their stock, or remain minority holders in a private company. ENRC listed in London in 2007, but has been hit by boardroom troubles, corruption investigations and weaker commodity prices. Its shares have dropped some 80 percent from a 2010 peak.
At last we should see some cash and new shares by Friday 8th November if not sooner - for me the end of a poor investment is in sight..
So we find out tomorrow do we? Perhaps a 4:45pm RNS????
CAN ANYONE TELL ME WHAT IS GOING ON? ng from the company thanks
Show me the money - my money - this is rediculous - surely there is a time scale on this... Can anyone advise? Thanks
Can ENRC keep extending the offer indefinitely? What if not enough shareholders accept the offer each time there is an offer? When will we see our money?!!
Excerpts from RNS 4th October: "Extension of Offer The Offer, which remains subject to the other terms and Conditions set out in the Offer Document, is being extended and will remain open for acceptance until the next closing date which will be 1.00 p.m. (London time) on 25 October 2013, by which date all outstanding Conditions need to be satisfied or waived in accordance with the terms of the Offer Document." "Settlement Subject to the Offer becoming or being declared unconditional in all respects, settlement of the consideration to which any ENRC Shareholder is entitled under the Offer will be effected, in the case of acceptances received, complete in all respects, by the date on which the Offer becomes or is declared unconditional in all respects, within 14 calendar days of such date, save as set out below or in the Offer Document. http://www.lse.co.uk/share-regulatory-news.asp?shareprice=ENRC&ArticleCode=zg09hhoa&ArticleHeadline=Offer_Unconditional_as_to_Acceptances
Can anyone tell me when we might actually see any of our cash and shares??? Thanks
End of artical, http://www.bbc.co.uk/news/magazine-24396013. Don't look if you are afraid of snakes.
On 7 August 2013 Eurasian Resources Group B.V. ("Eurasian Resources") posted to ENRC shareholders the offer documentation relating to the offer for the entire issued and to be issued share capital of ENRC (other than the ENRC Shares already held by Eurasian Resources). Following the passing of the necessary resolutions at the Kazakhmys General Meeting on 2 August 2013, and in accordance with both the Irrevocable Undertaking dated 23 June 2013 and the request of 30 September 2013 by Eurasian Resources for Kazakhmys to accept the Offer, Kazakhmys announces that it has today validly accepted the ENRC Takeover Offer in respect of its entire shareholding in ENRC, representing approximately 26 per cent. of the issued share capital of ENRC. Capitalised terms used in this announcement but not otherwise defined herein shall have the same meanings given in the Kazakhmys prospectus dated 7 August 2013. http://www.investegate.co.uk/kazakhmys-plc/rns/acceptance-of-offer-for-enrc-corporation-plc/201310041100157477P/
Eurasian Resources has today requested that Kazakhmys accept the Offer on 4 October 2013. http://www.investegate.co.uk/eurasian-resources/rns/offer-update-regarding-kazakhmys-acceptance/201309301130172443P/
"At the request of the Takeover Panel this update amends the earlier announcement correcting the extension date which should be 6 October 2013 not 9 October 2013." http://www.investegate.co.uk/eurasian-resources/rns/offer-update-and-extension-of
ENRC can make this unconditional when ever they can be bothered writing to kaz. Am I reading this right? This looks like it could drag on - very disappointing. Thoughts anyone?
Just saw some other report . seems my idea s wrong. Only to mop up more shares so why wasn`t that made clear. Still does not all make sense to me but I will shut up now
Yes I saw the report in`t paper. First impression was the rotters did not have enuf acceptances, which suggests they were not allowed to vote the shares they own. This I assumed so was confident the tricksters wud not succeed but decided I must have been wrong by all the weight of certainty but it might indicate why they seemed to be trying to blackmail us into accepting-which worked in my case ! So along come the equally corrupt LSE to try and assist them. My first idea was to buy some shares as I think they are underpriced and the investigation which gave rise to this whole escapade is nothingmuch for us to worry about. Anyone else got a view ? This talk of not having written to KAZ seems weird too;as is the regulatory permissions . If they don`t get enough surely that is irrelevant. How is anyone sposed to understand what the real position is ? and the "good" papers normally give some proper info to assist but don`t seem to be doing this time. I said weeks back the FT seemed to be helping with their opinion. Was owt in the FT last few days ? weak buy ?/////!!!
You are quite right, which is why I don't hold a significant amount of shares anymore (£12k down to £2K), as I believe them to be far more of a gamble than I had realised. CPP was and is a top risk share, I had followed it for ages with a small amount in when it was supposed to be going bankrupt or bought for 1p, but none of the signs said that was true. I got lucky that it went to 40p from 2.5p (I had expected a lot less). Anyway, after reading interims I sold out. INSP is high risk too, but looking positive and again, has the potential for big gains with a 12-18 month view even, if the tech is as vogue as it's being made out. All the best with your next one.
What ENRC investor relations said to you accords with what is in the "Evening Standard" and kaz has said they expect settlement by the year end which, of course, some people on bbs with their own agenadas will interpret very literally as meaning on 31st December but it could mean any time up until then as you have said and my brokers said to expect settlement within 10 working days of the offer becoming unconditional. I am hoping the settlement is sooner rather than later and that kaz does go up so that the offer is worth more to shareholders -there again some posters elsewhere with their own agenda are hoping kaz stays low and are predicting it will go lower than it is currently. I was lucky enough to make something from this shares as it was bobbing around the £2.00 level earlier this year. I would have sold the lot by now but held on to one tranche as I also hold some kaz. ATB
Hi there Queen Elvis, hope you are well. This share is a pain and you are right we do need to be careful what we say. I do always post when I can IMO where relevant.. A couple of things. In terms of October I called ENRC Investor relations as I thought the deal would be settled 10 days after acceptance for PI's. But I found out that there are regulatory approvals in different countries this has to go through. It is likely to be no earlier than mid to late Oct. (and to be fair ENRC don't have control - the lady was trying to be helpful and that too was her opinion). I seam to remember at the time we were all trying to interpret the FTSE rules on the minimum bid price and that was my take out at the time. My take out now on this is that it could be any time between Oct and Dec IMO. The thing I'm most peeved about is that personal investors who have accepted have their money tied up. All if this is my view Queenie but on the upside there is a lot of positivity about Kaz going up, so in a couple of months the deal could be worth a few squid if we are lucky.
Whilst we might want to heap praise on companies based on the UK let's not forget the issues we explored on this bb about the UK regulatory authorities and their behaviour in relation to this company. So you will be INSPing instead of Cpping from now on. I guess none of us know exactly what we are taking on when we invest in any company. Cpp had quite a hard time of late I gather.