focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar 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.
Kaz in freefall.
Why have the trading of kaz shares been suspended. Will we hear something from the Takeover Panel and this independent committee. Off out for the day.
At least we are going to get something back as opposed to a two finger salute a de-listing!
Pre trade, Kaz suspended, while these could just spike today for a cheeky exit strategy. Ask at 249p? seems inflated but who knows what bell will bring..
What a surprise! Not... What a waste of time...
The reasons given to accept are criminal and I seriously hope someone with more clout than me takes them to task. Reject.
its over to Kaz then. Offer made. rejected? share drift. Accepted? we all know where we stand. Personally, i hope its rejected, and the SFO hounds are released. Hospital for a year, wounds heal, sp up to 500p..
Saw that link posted at teatime on the kaz bb. I suppose if Kerimov bought kaz's shares in enrc then it would be game on rather than game over sharendipity but we'll have to wait and see eh.
useful, thanks
http://www.spreadbetmagazine.com/blog/enrckaz-takeover-likely-impact.html
Thanks for reminding us of that . I will be busy all day tomorrow but will look in tomorrow night. Let's see if there is an offer forthcoming first. One of the Reuters pieces said there was funding but I remain sceptical given Kerimov's considerable and growing holdings with the relevant banks. The banks must have grave reservations about recovering the debts owed to them under the present ownership as it is and might be keen to see the company in new hands. I need more kaz shares like a hole in the head ATB
Hi Queen, Just to clarify matters, here is a link to a WSJ article about KAZ position on the deal: http://online.wsj.com/article/SB10001424127887323648304578495032888238310.html The most important part of which is this (to summarise): "The U.K. Takeover Panel also ruled Monday that Kazakhmys should be treated as part of the offer even though it isn't part of the consortium, meaning Kazakhmys won't be able to weigh on the deal if it is put to an ENRC shareholder vote." That basically means that the consortium WOULD NOT HAVE 75% of the vote to force a deal through with ENRC shareholders. The exact implications of which I am not sure, or of having just 56%, but it certainly doesn't make it as automatic as the media and some KAZ members seem to think. On another note, I am sorry to tell you that it is obvious the offer won't be any better, so either the independent takeover committee rejects it, or we'll have to go to a vote and battle it out. I still think people underestimate the fact that there are other, much bigger than us shareholders, like JP Morgan, Barclays and others, who stand to lose a lot more, and I would be surprised if they wouldn't put up a fight.
It's all a question of perception I suppose. enrc has been reasonably kind to me whilst kaz has been an absolute stinker. We are really wasting time here talking about an offer which has yet to be tendered less than 24 hours before an extended deadline. But should the Takeover Panel take the view that kaz plc should not be able to vote, it puts a whole different complexion on matters. I see the kaz plc bb is getting a little busier now if you wish to continue speculating about future events but I think I better start living in the present tense.
I'm pretty certain they cannot do that legally, even more so with more than 3% crossed. Looking at the breakdown of Kaz owners, if this were to go through, they could well do exactly the same thing and buy it out on the cheap. Huge majority of shares would sit with them and Cuprum Holding B.V. which guess what, is strongly linked to the owners of KAZ and the KAZ government. Steer clear!
You seem to have assumed earlier that as a kaz shareholder you will have a vote on any offer put forward by the consortium to acquire enrc. I was asking you it you were absolutely certain that as a kaz shareholder you would get the opportunity to vote should an offer be advanced by the consortium as it has been suggested in the past by other posters that the Takeover Panel could rule that kaz plc should not get a vote. And other posters have suggested that the kaz govt would not get a vote. There would need to be a formal offer advanced by the consortium of course before any minority enrc shareholders could take this matter up with the Takeover Panel. Goodnight.
You have been more vocal on this bb than you have been on the kaz bb yet you are not even holding shares here. I look forward to reading your stout defence of kaz plc on the appropriate bb. Do you think Seifert will desist from saying that there's as much rotteness about over there as he is saying there is over here now that he is considering buying in there. And will be hearing more from the Wighlady on the nationalisation of kaz plc. It's okay these's are just rhetorical questions and I am not expecting answers from you but I was posing genuine questions to you in my previous post which you didn't answer. Goodnight.
So I imagine he will still hold his shares until delisting and then participate in a "negotiated trade". They won't screw him over. GLA
I would expect a mortal like me to get done over but not a billionaire investor who has leverage here already. I know I'm a sitting duck as a private investor with a relatively tiny holding but he's not as stupid/in the dark like me.
I think the more reasonable kaz share holders/traders will struggle to find a voice on that bb and some are already giving it the bodyswerve. The litmus test is when folk go on about reaching their breakeven because you just know they are desperate to get out as soon as it hits that level or thereabouts rather than hang about. Not even sure what my breakeven would be if I get a quarter of a share for each one held here because it's been hard to take this consortium too seriously. There are some decent holders of kaz like samunj but, hand on heart, I can't claim to have any enthusiasm for kaz and consider it to have been a bad investment but I'll look forward to returning to rio which I suspect Seifert is more than aware of. Could have been worse - I was looking at MXP last year the day before it slid from 8 or something to sub four and there has been no recovery there. Intend to steer clear of investments based in that country from now on in - and I guess I'm not the only person who will be thinking that way but I do hope you get your 12% profit there by next year.
This will knock Kaz quite hard and interestingly, none of the press have mentioned Kerimov and Reuters have put forward a weaker sounding piece. Kerimov could have won at the banking end if the finance is pretty enough but I have no idea why kaz would agree from a shareholder's value point if view. I would suspect unpleasant motives.
I don't know how you feel about being invested in kaz plc if it proves itself to be a puppet of a company in this enrc buyout thing but I know how I feel. It doesn't help me any either that you have some of the biggest rampers on the lse on that bb either. The ones who tell you when they are buying but omit to tell you when they are selling lol and, in my experience, have never achieved any of their optimistic price predictions for a share yet. Who says kaz plc will gain any advantages to no longer having the govt as a shareholder. It might actually be a disbenefit. If there is a bid from this consortium tomorrow then can you be absolutely certain that kaz plc and yourself as a kaz shareholder will get a vote? There was a post on interactive investor some time ago that indicated that the Takeover Panel could rule that kaz plc will not get a vote since the government is a shareholder in both kaz and enrc and is part of the consortium and not only that but kaz shares would be used to fund this proposed deal. The words conflict of interests spring to mind. Wonder what Kerimov's thinking is.
from Friday to Sunday. Now saying there is a statement from the oligarchs and now spelling out that a formal offer will only be forthcoming if kaz plc agree in advance to the terms of the offer. kaz plc unavailable for comment on Sunday.
Just a thought, would this not give the kaz board more power and a weaker sp (as another write down takes place)? Could they not take kaz private too at a low price?
I've just read this and the times version and it's all smoke as far as I am concerned. If the statement is true that none of us have seen, it sounds very wishy washy and somewhat forceful. Kaz government running off with British money after defrauding its investors, what a fantastic lasting memory that would be. At least Enron didn't have the u.s government working in collusion with it. Interestingly, Barclays and Citi were big casualties from that fraud too.
Sorry but your 'sheep-like' attitude does not win the argument with me. We are in the UK after all and if shareholders vote no to the bid it cannot be forced and there are rules after all.