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Note that Pallinghurst shares are quoted on the South African market so the price is in South African cents. This values Gemfield at 35-36p. Board called it "derisory" (have to agree) + better offer of over 40p coming in from Fosun.
the offer is for Pallinhurst shares at 1.91? They are currently price at 320? That's a good offer is it not?
I got this from III and checked with them. It's a mistake and should have said 1.91 Pallinghurst Shares, which are not worth much as far as I can see.
fill ya boots big man, chooo choooo
I have just received a message through my share dealer stating: This is a voluntary event and action needs to be taken by you. Please read all of the terms and how to elect below. Action required by you - Providing your instruction Should you wish to accept the offer please provide us with your instruction by telephone or secure message. If you send a secure message you must select Corporate Action from the drop down box that is presented to you. Failure to do so may result in your election not being recorded correctly or at all. We will not be able to compensate you for any loss should this occur. Takeover Terms As a holder of Gemfields Plc you may elect to accept the offer of GBP 1.91 per share. This is a cash offer made by Pallinghurst. Timescale for providing your instruction The deadline for providing your instruction is 2pm on 30 June 2017. ****What does this mean?
Well said. I personally think ericeric is a total disgrace. He has lost investers here and on solgold possibly millions altogether. He is a fool. Forever making people question their investment in solg. He was at that for over 3 years until the share finally turned good yet pushed this share for all and sundrey. What a tool. I can understand if he was convinced about gem but how can any sane person explan his behavior on solg?
Ericeric, I think you owe the GEM shareholders this at the very least for your constant ramping of this stock and many are now selling at a loss as the share price is showing. BTW you still owe the SOLG BB & the SOLG shareholders that you convinced to sell (not me btw ) before it went BOOM, are you man enough? I think i know the answer to this to be fair.
Investors wait the more they will loose.... Thats almost 20% lost since the pallinghurst announcement! RLD is waiting for all the coloured gem lovers, £3.8m MCAP, Profitability this month, several million carats of inventory, whats not to love!
Indeed, there is little value going forward in Pallinghurst imo as many PI's will look to exit. Small losses for a bigger gain is always how the situation should be perceived; Smart block buys are relentless at RLD, and considering this is the quarter for profitability you can understand why. Im only referring to RLD on the GEM board because they are in the same industry and so may be of interest to PI's hit by the proposed Pallinghurst deal. All the best for the future.
quindell, I personally think that selling up here and buying into RLD is not such a bad idea, the problem you have is a large proportion of GEM investors are in the red and of course nobody likes to sell at a loss. The future here does looks extremely bleak.
The time may have arrived for GEM holders to realise where this is going and join the RLD party :-) With RLD on the brink of profitability with considerably less overheads it could be a very wise swap, as apposed to being trapped in Pallinghurst!
Chaz, although off topic, IMHO i have got into XTR for 82 mil shares currently with an average of 0.0211, down a bit on current SP i agree however I think it was worth selling a few SOLG shares because of the potential there. Extremely high risk but so was REM and SOLG. Good luck, Gaz.
Gazza - you got any tips then? Looking for a share with fairly high level risk.
Knowing your luck /skills eric you know doubt said G4M was going broke at 140p bought in at 760p and are now posting broker recommendations stating that G4M will be at 3650p next week, just a hunch like.
Should you have any other stocks you are keen on please keep them to yourself, I suspect 99% of the BB feel the same, your track record is getting worse!
for the remaining Gemfields shares...... http://www.lse.co.uk/share-sharecast-news.asp?shareprice=GEM&ArticleCode=25957976&ArticleHeadline=Pallinghurst_makes_unsolicited_bid_for_remaining_Gemfields_shares
Nice links Tom. I can see this getting very ugly, private investors currently look like being shafted big time and to be honest I'm not overly optimistic of a good outcome for them either.
They left themselves awfully exposed to a low-ball offer reading this. http://www.telegraph.co.uk/business/2017/05/19/investors-hit-back-brazen-takeover-bid-faberge-owner-gemfields/
The offer is awful for private investors. It's not a cash offer. Shareholders will receive 1.91 Pallinghurst shares for each share. The only bright side is that they may look for a London listing. http://www.proactiveinvestors.co.uk/companies/news/178042/gemfields-receives-nil-premium-bid-from-main-shareholder-pallinghurst-178042.html
Stag, If you truly believe its a steal at this price I'm confident you will announce you have made a sizeable purchase to verify your statement. Pallinghurst are clearly trying to steal the remaining shares it doesn't own at this price.
Interesting timing before the auction results are announced...
That's correct Monte, the offer is only 38.5p. For the shareholders sake lets hope this triggers one or two other parties becoming Interested because I suspect they must be extremely disappointment with this offer.
Cool as a cucumber here Chaz, Likely old enough to be your dad sonny boy.
GazzaUK has a real chip on his shoulder. Chill out son.
Pulling Hurst and gem fields operate out of the same building in central London. Is an avoid for me