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Might be a silly question but does someone more erudite than myself know if the 3.50 figure is net or gross of what shareholders will receive? i.e. will there be any costs taken out or will £3.50 per share be distributed?
Shareholders will get 350p per share if the deal goes ahead. No expenses should be deducted including any broker fees.
It might depend on the interim dividend, if that's before the deal is completed. i.e. if the dividend is paid that would be taken off the 350p. The total would still be 350p.
19 Dividends
If any dividend is paid or becomes payable in respect of K3 Shares on or after the date of this Announcement and prior to the Effective Date, Bidco has the right to reduce the consideration payable by it pursuant to the Acquisition by an amount up to the aggregate amount of such dividend or distribution (excluding any associated tax credit).
Thanks Guys. It goes ex divi on 9th Feb so I suppose it depends how fast the deal happens.
No interim dividend will be paid as this would complicate the sale at a late stage. The final price is now set in stone at £3.50 a share.
For better or worse I sold out my entire holding today. I’ll be annoyed if another bidder comes in and drives the price up but equally if this sale falls through, I don’t want to be stuck holding K3C at a much lower share price when the management have shown they can’t be trusted to make the correct decisions on behalf of their shareholders. Selling now at 350p is absurd but it seems they have made their mind up. Best of luck to those who continue to hold.
IMHO it's already a done deal. Who do you think is buying up all these sells?
One day a week or so ago there was 9m sells, over 1m yesterday.
Clearly buying at low 340s when you will be forced to pay 350p in a few weeks makes sense for the buyer.
Are we expecting an announcement today? I was under the impression the buyer had to confirm they were proceeding or walking away today.
looks pretty nailed on now. Timetable out so now just waiting for my money!