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Hi - I have some shares in EZH - didn't look in my trading account app for a couple of months and see the messages about delisting of the company, and have now missed the deadline to sell the delisted shares! Do i have any options please? Ay advice would be really appreciated - Thanks
Hi - I have some shares in EZH - didn't look in my trading account app for a couple of months and see the messages about delisting of the company, and have now missed the deadline to sell the delisted shares! Do i have any options please? Ay advice would be really appreciated - Thanks
So those who refused the takeover offer c95p will now have to settle for 70p.
I decided to hold - bad call and now have been shafted!
Investors warned not to rush into travel and leisure stocks.
So overall this will knock stellios below 30% and they’ll be able to take him over.
can I bed and breakfast this and out it in an ISA?
Off
I did a dummy sell this morning and was offered 96p
Good numbers but subdued message?
Next year they aren’t opening that many owned rooms, it’s the year after it really grows again. With franchised they highlight some might not even happen in Iran, Dubai etc.
Divi policy under review as they wish to grow but bare in mind the bod now own no shares, divi to them is worthless and they will be expecting a higher salary which stellios can vote against!
They are somewhat trapped at the moment, growing the business but not putting more money in as it’s not all there’s, directors that won’t be seeing their greater pay days as yet and a divi policy to starve investors out.
Neither can they buy shares on the open market I don’t think above 95p and it’s now trading at £1.02 but when you sell first offer is for 95p which will be them trying to hoover up.
Maybe after full results published it will show a direction but stellios will want serious cash to sell I imagine
they need more than 75% of shares which they have not so no change.
either theyll settle now for some time, see out the offer period and buy out stellios seperately? may re-offer soon or never? just depends on what they want to achieve.
Are we expecting any further communication following the delisting?
i think they will be disappointed with this. not only does stellios have 28% ish that then leaves another 4% which they dont have and can be used to block votes. so overall there is 32% in the way of delisting and what they wish to achieve. it means as stellios stated overall they havent achieved a great deal in taking the business forward differently. i think they will re-offer at some point, step back understand and speak to stellios. if an offer doesnt come its because stellios wont sell
As stellios states however this has resulted in a limited actual change in the business. It now just carries on. Every salary change of the board, etc etc stellios can veto
When people start buying several thousand pounds worth above the offer price. Breaking up to £1 today so their expecting an increase in offer which meets stellios and his demands. Again I repeat another 30 pence which is a few million these people can afford and stellios can currently stop at general meeting pretty much everything so how much for him to release the business and make his money from the brand royalty? Big day sometime tomorrow maybe
I’d like £1.25 offered, huge increase but possible, stellios might go and want even higher I hope
They want a delist
Either they’ll hold with their share and walk away or offer more. Expect an update from the 1st, they’ll have gained a few more but no enough and stellios has nothing to loose by holding at this price. The sp is starting to show it thinks it will go higher and I agree, at least £1.25 which stellios has quoted we achieved last year, could be even more !!
Compulsory Acquisition
Recommended Mandatory Cash Offer by Citrus UK Bidco Limited (Bidco).
95 pence for each easyHotel PLC share held.
Please be advised that Bidco intends to make an application to the London Stock Exchange for the cancellation of the admission to trading of the easyHotel share, we will now take up the offer on behalf of all our remaining shareholders.
Should you prefer for us not to accept the Offer on your behalf and wish to withdraw your holding as a certificate (usual charges apply), please contact our call centre before 26th September 2019 to advise us not to accept the Offer.
Important Information & Other Key Dates:
On 5th August 2019, The Board of Bidco and the Independant easyHotel Directors announced they had reached an agreement on the terms of a recommended Cash Offer (Offer) by Bidco. Bidco is a consortium comprised of Cadim Foods, part of Ivanhoe Cambridge and ICAMAP Investments.
As Bidco has received acceptances under the Offer amounting to more than 90 percent of the outstanding easyHotel shares, it has announced that it is exercising its rights under section 979 of the Companies Act 2006 to compulsory acquire all the remaining shares on the same terms as the Offer.
The Offer Price represents a premium of approximately 34.8 percent to the Closing Price of 70.5 pence per easyHotel share on 2nd August 2019, this being the last Business Day prior to the commencement of the Offer.
Should you wish to find more information about the Offer, please visit https://www.easyhotel.com/.
I am an novice in shares, Please can anyone tell me if I can do anything to keep my shares. I don't want to sell but it seems they are going to take them off of me anyway.
any advice welcome
see below, stellios is stating offer worthless as they cant go private so what next??
easyHotel PLC's founder Stelios Haji-Ioannou late on Tuesday said his stake in the company has made it impossible for it become a private firm.
ICAMAP Investments Sarl on Tuesday said Citrus UK Bidco Ltd has now received valid acceptances from easyHotel shares representing 68% of the firm's issued share capital.
The Citrus consortium values easyHotel's share capital at GBP138.7 million and gave the company an enterprise value of GBP126.1 million, when it announced its intention to acquire the hotel chain in August. The 95.00 pence per share offer became unconditional later that month.
Haji-Ioannou said: "While I applaud the ICAMAP/Ivanhoe's huge vote of confidence in easyHotel – I must repeat my insistence that it remains a listed company on the London market. It is now clear that easyGroup's 28% blocking minority stake and ICAMAP's low ball offer has made it impossible for easyHotel to be taken private.
"Therefore this exercise was an object lesson in pointlessness. By taking their stake from 38% to 68%, ICAMAP have achieved little other than to enrich lawyers and bankers to the tune of GBP1.5 million. What a colossal waste of money."
Haji-Ioannou founded the budget hotel chain, and various other companies in the "easy group" in 2004 through easyGroup Holdings Ltd.
If Bidco receives acceptances of easyHotel shares carrying 75% of more of its firm's voting rights, it intends to cancel easyHotel's AIM listing.
The offer will remain open for acceptances until October 1. easyHotel shares closed untraded at 94.50p in London on Tuesday
so the offer is open until the 1st oct as they are trying to mop up the last 4%. likelyhood is they will get some but not the stellios shares.
the offer will close, the share will continue to trade and they will claim little chance to sell which i disagree upon as they will also take them off your hands for trading price.
then they will want to get hold of the ones left, they can increase the offer which then gets given to everyone whether they have already sold or not.
there problem is they cant delist with this per4centage and that is their aim to save most cash so they will weigh up a bigger offer in order to get hold of these and i think they will go higher as offering another 20 million now they know what they own against being private is a no brainer.
i think we will see a second higher offer in order to try and push this through but they will privately talk to stellios as its pretty much him alone that makes the difference.
So where do we go from here? I voted to decline the offer as I feel there could be a greater second offer in order to take up the remaining shares.
Should BIDCO manage to pass the 75% threshold and de-list, what happens to our shares?
They have swept up most but not the 75% they need to delist, more fighting talk about what might happen, stellios is holding strong and so they extend to 1st Oct to get any more. They may now start negotiating with stellios and new offer appears or not. Worse case he sells the shares and they offer him a bigger % through the brand so we then all loose out, I think he’ll go for both
So an update any day. Then they have to decide and they will know how much it will cost to get stellios shares or hold.
So no delist, no command overall of how it’s run as he can vote down items at agm etc.
So direct offer to stellios would mop up I would think then easily over 75% all shares and closer to the 90% to allow buying of all.
From then it’s full delist. So £1.25, £1.50?? I can see stellios going high and then still getting his annual % slice for brand name. He won’t want to stop the company growing as this equals bigger slice.
I think they go high, £1.20 at least but stellios will already have to be tied in
quite a few shares sold yesterday to someone at 95p but not declared today by the offeree?? so whether stelios has got his hands on a few more or not?