Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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I would of thought so.
If Advent have a sizeable holding, aren't they obliged to declare it to the London stock market?
Other bidders can certainly come in as court approval is still awaited. It seems very unlikely that would now occur. Advent must have a sizeable holding and no doubt vote against any other bidder or compete or sell out
The key question is, was the meeting legally binding on Laird or can other bidders gazump Advent before they sign any agreements???
If Advent - or anyone - is a person of significant control, then Laird would have to update their PSC register, and inform Companies House in due course. The company PSC is available for inspection, free of charge, I believe
Is the result of the meeting legally binding or can other suitors/hostile bidders now come in a table a higher offer prior to any agreements being signed?
scenario 1 prevailed...
Today the scheme was approved with overwhelming shareholders voting in favour of accepting the 200p. Next stage is court approval. So far I am surprised they have not indicated how many shares Advent own
It looks that way.. It's a pity that management have taken the view it's better to kill the goose now. Patience is a virtue and all that.....
Quite likely they will declare the offer unconditional till say 27/04 with the hope that the rest of the shareholders will accept 200p. If nobody has made a counter offer then quite frankly all of us who have rejected the offer will accept the 200p price Today the shares opened at 205 but the initial excitement gave way as the price fell to 200p so the market is resigned to Advent succeeding. Our monies wont come through until 3rd quarter (July to September) unless you want to sell on the open market and after charges get about 197p
So if they haven't got 50% what are Advent and all their brokers going to do with all the millions of shares they've bought? They cant exactly sell them back into the market if they've paid 200p for them?? The price would surely go down and they'd all be sitting on a massive loss?
I understand if they have 50% then they will declare the offer open ad most if not all of us will sell. They have applied to the Courts as well and remember the offer document is not with us as yet and 27/04 AGM is another crucial point on 17th April we will know how much they have. Their brokers Citi/JPMorgan and others are buying on the open market so perhaps they have around 50% already.
So what happens to all of the tens of millions of shares that Advent and its brokers have bought over the last couple of months if Advent don't reach the 75% vote target on Tuesday. Will they have to sell them all again, and at what price??
Still optimistic of an alternative offer and perhaps competitive bidding to get 250 to 300p but not holding my breadth.now Even at this price, we have made enough but were mean not to give a 10p divi
Not required to but Advent brokers are picking up on the open market. I think 1 or 2 brokers are buying on their own or somebody's account.. All will be revealed on tuesday 17th at the meeting. If Advent had 75% then they would have announced.
I'm surprised that the management haven't given an update on the take up % so far.
Fingers x. somebody will emerge on Monday, perhaps it is tactical to barge in at the 11th hour. I cant and did not see Laird surviving on its own despite the good Q4. There are too many in this space with deep pockets and Laird would have needed huge liquid resources to develop its technology. Others have deep pockets and Laird cannot issue more shares, one reason shares fell back to 120p was nobody had much faith in Laird wwlll hopefully wont happen as destruction is not the answer. we have seen what bombing has done to Iraq, Yemen , Libya and Sria unless they want 30/40 million refugees. Our politicians have been wrong so many times and we dont have a Right to invade and kill. Power brings responsibility
Well this is going down to the wire. It reminds me of that Spaghetti Western"the Good, Bad & Ugly" when the gunfight between Clint Eastwood and the Mexican bandit were waiting for the watch to stop playing the tune. Advent and the management team are bad and ugly and those holding out are the good ones. Who's going down? We will all know by Tuesday.
Well lets hope the vote comes just before WW111 breaks out. I suppose that the markets will dip slightly when the missiles land in New York, Paris and London???
Well let's analyse the Situation here. Advent have shown their hand and results were very positive at full year. Even if Advent fail the valuation has to consider the offer price and new trading position. Debt is low, profit up and turnover approaching £1billion. Even if price fell back into the 160/170s as in October 17. Within 12/24months this could easily get above 200p. Plus the dividends as well. Any future offer would have to be in the region of 300p. Let's see what happens but I've already rejected the offer. AIMHO DYOR.
Moniman, the only hope is there is either a counter offer or significant holders like pension funds and others have voted against. 17/04 is fast approaching. The shares have not moved much so it is worrying Hopefully, something happens by Monday. Either way Advent will make a packet
Well the deadline is fast approaching, so who's going to blink first. Us or Advent?
Just contacted my broker to reject the pathetic offer that significantly undervalues Laird long term prospects. Let's hope the bid fails.if Advent want Laird then they should pay the price. 250p would be fair value based on Las results and trading update.
I have a significant amount of shares and I will definitely be rejecting the 200p offer.
I have voted to reject the offer, I know I have a miniscule amount % wise but every little helps and if enough of us small fish can stop them from reaching the acceptance target it will send a message to the management. Some of us feel that the management have let us down, We supported them when they needed us, but as soon as they saw that they could make some easy money they decided to jump at the offer.WHAM BAM THANKYOU MAM ( mugs ) The technology is still progressing and we may need partnerships , but we do not need a company coming in to asset strip and share the spoils. ( rape and pillage )