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Who is he? He’s listed in the John wardell trust next to all the family?
Nit. You hold now at this price Your a long term holder You know the price is going down to 30p As a clued up, in the know chap Wouldn’t you sell now ? But back in at 30p and increase your holding by some 20% ? That’s if your sure of course
No really it’s true if you read the city code it’s states that Also if you like a good read about this sort of jazz read Carl Icahns book to corporate raider he’s one of the world richest men and in short has made a huge amount of cash going exactly this but in a more hostile approach. Fascinating stuff he’s trying it with xerox at the moment he broke up TWA in the 80s Cracking read !
Mark I hope you are right, I’m just not convinced it would be that easy for JD to take over should they choose.
No the settlement is broken down to the holder beneath and lists individual names and their Held percentages of said settlement So when it comes to voting rights of any company the singular named biggest holder has those rights In short whichever name has the most shares has control Non of the listed major holders singular names have a bigger number next to the name that JD SPORTS. So regardless of whether they are family is irrelevant. As they individually have a smaller holding
I have a feeling it’s going to happen very soon!
Nithav06 your comments of “I can see them wanting monopoly status in the retail sector so Quiz/Foot and others represent superb value in this undervalued retail market. That's why they're investing! Why own the whole company when you have to pay big premiums! Just buy significant stakes (i.e. up to 30%).” and then to say that Footasylum shares are going to drop to 30p next week don’t quite seem in line with each other?
But is the settlement not a single entity?
Let's see what happens next week Friday. I am 90% sure we go back to 30p.
Haha, great question! I think the phrase in “Booooom time”
Dat Nat The JW settlement is broken down below the full settlement value into individuals and their holdings What I am saying and what the city code says is that JD sports would be the SINGLE BIGGEST HOLDER it’s ok you saying the family own that across them but that’s now how it works unfortunately It’s based on a single entity owning more shares than any other single entity that being either a person or group this why JD would have VOTING RIGHTS as they would have the LARGEST holding in name That’s how the law works.
Anyone ever wondered what would happen if just one family member sold out to JD?
Nit, are you aware JD paid 50p, 70p and 75p this week for a big stake? Are you aware how small our float was before they did that? Are you aware they could be looking to take up to a 29.9% stake? Are you aware what that will do to the free float?
If you are please stop kidding yourself that you will be able to buy these at 30p.
I think we need to look at rule 26 What you just sent datnat is correct but if you read where is says The UK City Code on Takeovers and Mergers applies to the Company Which if you reads states the following: When a person or group acquires interests in shares carrying 30% or more of the voting rights of a company, they must make a cash offer to all other shareholders at the highest price paid in the 12 months before the offer was announced (30% of the voting rights of a company is treated by the Code as the level at which effective control is obtained). It then goes into say that JD is its SINGULAR biggest holder, YES the family own that % across many members buy the 30% will make JD The singular biggest share holder this giving them control. The free float is 38.6 million giving JD enough scope at the moment to meet their quoter, BUT only if the free float doesn’t diminish any further or fall into PI’s hands Catch my drift ?
Nithave06 how can you advise you hold but are sure this is going to 30p??? If you are so sure why are you still holding instead of selling and buying in at 30p That alone should be reason enough for people to think that what you are saying is stupid at best. I am telling you NOW, I could not buy over £500 worth in the last twenty minutes of Friday but could sell 40k worth, they want your shares and will do everything in their power to get them. I won’t sell early so I will win, those that sell early are simply playing in to the hands of the rich. It’s time to hold... Seriously think... if JD wil pay 75p then why oh why would you sell sub 50p. I offer this as my defence: Try buying next week as a pretend buy (nothing lost), if you can in the “thousands” next week sub 45p then leave it if you wish, if you can’t then I rest my case. If it is possible sub 45p then I have big enough pockets to buy more if the mms want to let it go cheap.
The reason why JD will buy up to 29.9%, is because there revenues have peaked for now. They need additional revenues and profits to flow through their p&l and they have big cash reserves so it makes strategic sense to INVEST (not buy) in Foot. JD will do the same with other investments also.
I can see them wanting monopoly status in the retail sector so Quiz/Foot and others represent superb value in this undervalued retail market. That's why they're investing! Why own the whole company when you have to pay big premiums! Just buy significant stakes (i.e. up to 30%).
No it doesn’t illustrate what you are saying, for a start the JW settlement hold 34%+ do you think it was set up this way for a reason? Second if you don’t think the family we vote as a group I think you are wrong, so imo they have 60%+ as one vote.
If JD want to takeover they need to convince them to sell, not saying they cannot but I don’t expect it will be anywhere near these prices.
The interesting time will be if JD get to 29.9% the free float will be tiny, then we could really see the SP move on minimal buying!
Nitbhav06, you say I am trying to trick people when I say I and many others could not buy more than £500 last Friday after 4pm? Are you calling me a liar? ADMIN will be happy to read my posts and that if other who held the same opinion. Our posts should NOT be deleted when so many shared that they held felt the same situation, you however have not right to state that I am using trickery to try and deceive people.
104 million shares, of which at least 88 million are held by those on the AIM rule 26 list, that means a so called free float of 16 million shares left, some of which I and every other Pi will own. So if JD want another 9% - just over 9 million shares then it is obviously going to push the share price up. No? I’d chuckle at a director buy now.
to block sports direct for good it seems like.
Nit why do JD need to invest in foot asylum ? Please explain?
Dan Nat what am I looking at ? This just illustrates what I was saying ?
I suggest you have a look at this -
https://investors.footasylum.com/investor-relations/aim-rule-26
Dat Nat someone else does not have 60% SOMEONES else does 30% will make JD SPORTS the SINGLE biggest share holder in the company to date.
30% means they would have to make an offer, it doesn’t mean they have control especially when someone else has 60%+.