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Perfect example of how money goes from poor shareholders to rich fat sharks. And everything is legal.
You'll be sent stamps to the value of.... !
I'm suprised that she is still on the board after the way she has run flybe to date.... Surely there can't be a lot of confidence left in her by Branson and stobart, hopefully they will soon find a useful role fit for her and put her in charge of selling tea and burgers in the car park
Although I'm not even sure she is capable of that!
Idiot
Trying, the way things stand if you hang onto your shares after 11th they will be forcibly acquired from you and you will be sent 1p per share. IMO - check with your financial advisor.
Right move for her i guess. But we been left with nothing.
https://news.sky.com/video/flybe-boss-sets-course-for-new-future-11655114
I have all the facts on the slots that we were able to gather, using international lawyers and forensic investigators who work with SEC.
the vote today is secondary, but lawyer are looking at the owners of the shares who did not vote and the block of shares to used to vote.
As I said compensation is the prime aim and to hold to account the crooks at the consortium of Virgin, Stobart, Cyrus, Evercore, Flybe.
As for the branding of Con Airways being done in the Virgin logo, I fully expect Easy Jet, Ryan Air etc to smother the routes with low cost flights, and I am sure one airline will use loss leaders to cripple Con Air Virgin.
Virgin have never been able to make profits in the UK, and never will, Virgin are known for racking up debt and then off loading airlines.
Friends in Exeter have already been advised they will be a downsizing of staff.
Corruption in the UK never ceases to amaze me, but was one of the reasons I am an exile of Devon and the UK, preferring to have a European base, is the pure corruption that occurs from Local councils to Government ministers who have embrolied and enriched themsleves in buying stolen oil, profit from wars in Iraq and Syria. Libya.
GLA
What’s confusing me is that people are still buying them at the moment in quite vast volumes?
Hi everyone, I've heard the news from the vote. Is it not possible to keep my shares when it transforms into connect or are they dead after the 11th?
Stehay19, u have a couple options. Either you can wait and receive a payment for Your shares based on the 1p per share offer agreed as per the outcome of today's vote, or you could attempt to sell your shares on the open market. As has been commented quite a few times in the past though, it would be surprising as to why anyone would be willing to pay you more than 1p when this is the value agreed at today's vote.
Thank you for that, that’s what I was thinking but I’m quite new to all this so needed to here it from someone else. Price is that low now I might as well hold on to them with the off chance it changes
Stehay, after that date, assuming nothing else changes in the meanwhile and the company honours its commitment, your shares will be acquired [whether you like it or not] and you will get 1p per share IMO. Please check with your advisor however.
Smithy you are one sad ********
What do I do with my Flybe shares now? Do I sell them or do I leave them as I have read that the final day for trading is 07:30 on the 11th. What will happen to my shares/money after this?
So you don't think knife crime had anything at all to do with there being 20000 less police on the streets?
If I were the Consortium I'd pay the board members and staff in FlyBe who enabled this their thirty pieces of silver as agreed and put them on gardening leave for the remainder of their contracts as I wouldn't want them anywhere near any decisions regarding the daily running of the airline.
Andrew stoodley FD posting on LinkedIn about successfully negotiating sale..... off to Clarke's shoes.
There you have it ...not a single company on the U.K. market is safe to invest in ! . Let’s see how long the market survives now . A year maybe .
you talk about jobs and to vote yes , flybe did not care about staff or pis, you voted yes because you got no morals and needed the 1p do you really think virgin bod etc care about amy one . no
Job well done for the BOD... bunch of crooks and shysters... may they face karma in the future! GL all remaining shareholders.
Why on earth did he buy
Alliance News
TOP NEWS: Flybe Shareholders Approve Connect Airways Sale (ALLISS)
Mon, 4th Mar 2019 15:58
LONDON (Alliance News) - Flybe Group PLC on Monday said that a majority of its shareholders voted in favour of the company's acquisition by Connect Airways Ltd.
At a general meeting held earlier on Monday, 63% of the struggling airline's shareholders voted to approve the sale, with 37% against it.
In February, Flybe had urged its shareholders to approve the sale valuing the firm at just 1 pence per share or GBP2.2 million, or risk receiving "no value" for their Flybe shares.
Flybe shares were trading down 28% at 1.05 pence. The shares are expected to be suspended from trading on March 11 and cancelled on March 12.
At the end of February, Flybe had already sold all of its assets and operations have now been sold to Connect Airways Ltd for GBP2.8 million, meaning that Flybe was just a non-trading entity with no subsidiaries or assets left.
"The results of the shareholder votes will not impact the assets, flights and operations of Flybe Ltd, which continue to operate as normal under the ownership of Connect Airways following the completion of the sale of Flybe's two operating subsidiaries, Flybe Ltd and Flybe.com Ltd," the firm added on Monday.
By Elena Cherubini; elenacherubini@alliancenews.com
Copyright 2019 Alliance News Limited. All Rights Reserved.
Few more for the conspiracy!
https://www.marketwatch.com/press-release/united-states-morgan-lewis-advises-connect-airways-and-cyrus-capital-on-acquisition-of-flybe-2019-03-02
If they were like me then they were private investors and couldn't actually submit a vote.
I assume the institutional investors have been advised by legal counsel of their obligation to "mitigate their loss" if they wish to pursue legal options afterward.