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Wow he now has 18.5% of shares. Maybe tomorrow we'll get another RNS and then a bid for the company. Interesting times
Its all down to the auditors at the end of the day. No approval and this goes back south
Surely that won't be the case otherwise he won't have bought so much. This must have already been thought of imo
I know! I am going to spend millions in a few days to buy 20% of a company to watch it go bust a few days later! I tell you what that would be some tax right off!! haha
@klse1 - Precisely.
More than 1 company buying into this , can’t all be wrong,, happy days.
Well glad I had some spare cash and took a punt. Although not rigth at the bottom but below 5p looks like a good punt to me
In my opinion and based on what we know. I would say that its going to be a 50/50 venture between Sami Said Al Angari and Blofeld
Exactly AJ and that's always better than a one horse race where Blofeld was trying to get the company on dirt cheap territory. Now they have to up their bid if they really want it. Otherwise I'm sure Sami will go looking to institution and force Blofeld hand
Strike, still waiting for an answer mate!
The shares will be suspended if the accounts aren’t signed off, but they can also get an extension. I’d imagine they will be over 10p if an extension is granted, considering all of the stake building going on. As always, follow the money
You cannot blame anyone for playing it safe! I personally have not and I am staying in. GLA no matter your decision!
@strike
So you don’t believe it’s 50:5.
With all this buying someone must be in the know.
That's fair enough, everyone has their own strategy and it's wise to only invest what you can afford to lose. I don't believe this is 50/50 though and major buying has reinforced my positivity.
GLA
Manx
I got stung in McColls recently, and I’m all in here now. I know it doesn’t work like this, but the market is due me one. Not long to wait until we find out, but I’m betting on an RNS to say that an extension has been granted, then it’s game on. Good luck everyone, got to be in it to win it!
All the best guys. I got 10k ridding here.
What actually happens with McColls shareholders? Hasn't Morrisons agreed to buy it/Bought it?
Shareholders will most likely get nothing. A bit of a stitch up, but nothing like this scenario. I’d be stunned if this isn’t sorted
I understand it is a totally different scenario. I was just curious what happened and were they are up to with it.
It’s still in the hands of the administrator, but shareholders are the bottom of the pile. The worst part is that they funded shop conversions on behalf of Morrisons, and then got shafted by Morrisons
I've seen PI buying in sinking companies taking a gamble, punting, making a bet with dozens of millions, and still got burned after sad outcomes.
TCG was one of those where two investors in same industry decided it's a good opportunity and poured in 15mil right before admin.
AMGO with some German guy throwing in millions (it hasn't collapsed yet but very toxic atm, not even mentioning announced dilution if it survives), he's 80-85% down.
As been already mentioned below - Sirius Minerals: without last moment miraculous buy-out by AAL for a pennies it would go into admin (liquidity was critical, then covid hit with interests up and financing cut everywhere around).
Let's hope it's not one of those cases and his purchase is informed decision, not just some belief what it should play out.
Of course there're other options like getting more voting power for EGM with intention to to collude with other party and get majority, plans to take it private, etc.
Either way - good luck.
Skull, if I was a betting man I would say with good news a minimum of 10p + ,
And she off, morning all.
I agree a strong start