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I pressed the wrong button to select FTO, and came up with Sefton resources in error. It makes FTO look like a dream, and all the same old lame postings, expecting a windfall some day in the future. many will have been fortunate to have made money on FTO. Bewareshadows is quite right.. Not very much, but on a regular basis, at least, and for a modest investment, unless a wild gambling streak suddenly crept into the psyche and one bought millions at 14p. God forbid!
That is the way to be looking at this. If you had put that money in a bank account it would have needed an interest rate of 9% consistently for 15 years to gain that return. And they excludes the special dividends that may have been paid. We can always look to other stocks that have done better. But at the time we had no idea. Personally I wish I had invested in United utilities about 5 years ago. 66% rise in share price and dividends, but no I invested in banks and got cut in half and then some. But you hold on and recover what you can, or sell up make a loss and move on. I've been in and out of FTO unfortunatley when this came along I was out, bought into RRL which is now suspended. But that's the way it goes. 9% interest over 15 years aint to be sniffed at.
Agree, and planned for ages, I suspect.
Couldn't agree more. This has been planned meticulously with little left to chance.
I know that my views on FTO are a little in the "Take it or leave it" frame of mind, and that a good number of share holders are infuriated by the prospect of not making a fortune from Fortune Oil, and have in the back of their minds a thought, that the FT board have pulled a fast one, but is al this searching for an answer from a company that has always been short on answers going anywhere? I suggest that most of us have made some money, unless we bought at the top,(which would be sad but fairly common) and that would be some kind of result. I found that I still have 78000 shares,which I purchased around 1999, at 2 or 3p, and am delighted by the prospect of making 7 or 8p profit, and probably had in the back of my mind the idea that the shares would reach £1 by now, even though stockbroker friends shook their heads. I knew it was a punt. Most of us did, and aren't pulling our hair out.
I totally agree with your take on this. At the moment I am researching some proposal documents that involves both the FSA and FCA, they are: CP12\2, CP12\25 and CP13\15. At the time of writing, it is my understanding that the process has not yet been completed. The documents refer to premium listed companies on the LSE with some of the brief being further protection for minority shareholders. Guess what? In the middle of this FTO abandons premium listing for standard listing. My gut feeling suggested that something was up and I was tempted to liquidate my holding, I wish I had now. Some of my fellow minority investors have disagreed with what I have wrote in earlier contributions on this subject to this chat line, much as I respect their comments, I have yet to be convinced that my view is off target. This proposed buy out has been thoroughly planned.
Seems to tick most of the boxes concerning the Majority shareholders.
Somebody was bidding 10.25p in the auction...LOL. Boy, they really want their FTO shares...:-)
Thanks yours. It is reported, but not wholly on this site, that the following purchases were made on the 5 jan 2015. JTC 76 mio China Aero 27 mio China Electronic 27 mio Maoming 27 mio China North 33 mio All 3 of the 27 mio purchasers bought exactly 27,857,143 shares each I too am not implying any concert party but there is certainly considerable interest in FTO shares at the moment. rgds
Something about an 8 working day rule.. It's in the rns dated the 18th..
Because of their below the declared level of 3%...I have no idea as to when they were purchased.....They may have held them for a long time or they may have taken the positions recently.... They may all help to get the 75% needed...of course, I would not be implying that they are in any way part of the consortium because clearly they are not!! They may all be happy with 10p plus the cvrs.....
I appreciate the requirement to declare any significant share interest, I just wondered why there was so much sudden interest in what is perhaps regarded as a formality.
It's a formality . To put it simply when any company has an interest of more than 1% they have to declare their shares and any short interests within 8 working days of the takeover announcement.
Sorry ,,issued late today ?
What to make of the 5 RNS ssued late today ?
Fidelity ....Mmmm ...interesting Would be nice to know there intentions here. Been a little while since I dealt with them myself but dont seem to recall much risk/arb behaviour much more focused on long term so this purchase (although very small in nature for them) would be out of character if they are looking for a quick buck I'm still holding
Another declared opening stake..... http://tools.morningstar.co.uk/uk/stockreport/default.aspx?tab=3&vw=story&SecurityToken=0P00007OBL]3]0]E0WWE%24%24ALL&Id=0P00007OBL&ClientFund=0&CurrencyId=GBP&story=364539644228786
Interesting to note that Frank Attwood bought 115k 4 Feb last year and has over 700k. He will not make much out of this scheme of arrangement
Latest FTO shareholdings show Kerry via creation with its 90 mio and hsbc still with its 86 mio. Anyhow like you I intend sit and wait and honestly I don't think Kuok has any intention of rocking the boat. HNY.
What on earth am I doing worrying about Fto at this time of night? Well, I am not really, but it is a funny old time between Christmas and the New Year, and I have to wait a few minutes to have a bath, after a jolly evening, but what are so many of you doing, getting all het up? I love all the serious chat, but is it really going to come to something. Take 10p, if that is a serious offer and stop all the hype. There must be more to life than blasted FTO!. Going to have a quiet night.
Perhaps his increased share holding could be his dividend re-invested?
We are in what I think is a notification period.. I think anybody with 1% or more of FTO, has to post their position once they trade in the securities of FTO during the time of the bid. Premier upped their holding a while back as well.... Was very tempted to take 9.50p this afternoon and be done with it all... Didn't though!!
Perhaps another 3% towards the yes vote ? Hardly a takeover but instead a little Fortune insurance.... And a 4-5% return.
Nice thought intergalatic...:-) But he has been a shareholder in FTO, I believe since it debuted on the market back in the 90's. Most likely will vote with the offer, in my opinion.... Probably forgotten he even has these shares in FTO...LOL...
This man is reported to be the richest man in Malaysia with a fortune of $14.7 billion as of Feb 2012 (Forbes). He must see something in this company, perhaps he could be our white knight or indeed the Pale Rider in the Clint Eastwood movie.