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Tender deadline has passed, Thursday should be an interesting day.
Trading on this share depends on the liquidity post-tender. Those tendering 38.5% of their shares should see their remaining stake in company unchanged, selling more with the hope of buying back at a discount later, assumes sufficient sellers are willing to take a haircut alongside fewer shares in issue.
Did you tender?
https://www.surveymonkey.com/r/SZLKXBG
Close of offer is 1pm tomorrow
Most brokers deadlines have since gone.
I am assuming the recent buyers have bought with the view of selling post tender. I think it will be some time before the shareprice drifts down to buy back in due to lack of sellers. Surely people wanting to sell would have accepted the tender at a higher rate than accepting less a few weeks later.
Mr_Nakhla, I expect that you will release the outcome from your Survey Monkey on this Board in the next couple of days?
What conclusions could be drawn from the survey given the results of the previous one i.e. majority not happy with the proposal and didn't intend to tender - apart from maybe they were lying !
Or changed their mind or were lying first time around !
Surveymonkey is showing me results of 25 only out of a rotal of 55 answers! It is trying to get me to pay the annual fee to get all the results š”
The site I used previously was better and showed everyone all the results. Tempted to repeat the poll on previous website!
Results of 25 only revealed:
2 tendered all holding
3 tendered 38.5%
15 did not tender any
5 tendered a different amount
This is close to the previous poll results.
If the total of tendered shares is worth less than 30mil then the company will be buying more shares on the open market, hopefully driving the share price significantly higher. This is only if my assumption is true, that institutional investors who advised and voted on the tender offer did not take it up themselves but want to increase their relative holdings.
Who knows T, some might not give an honest answer but truthful old me voted the same way twice - 0% tendered.
Interestingly we are up nearly 5% this morning (so far) so the gap is narrowing.
I am living in hope of unexpected and good news that blows the current ceiling off the SP. Wake me up in 18 monthsš¤£
Thanks Mr N. Consistent results then and now, even if based on limited data.
If those results are representative, it does not look like too many will be tendering.
I suspect the poll is not representativeā¦..people with an axe to grind are often the most vocal
Possibly not. Did you complete it Nigel?
Who are you referring to ddub? I hope you're not lowering yourself to the same accusations others have made?
I didnāt vote and Iāve always got an axe to grind !! And to be honest what Loam do has a bearing on things far more than a few smaller holders. Itās clear that a number of piās are not participating and some directors arenāt so itās possible tendering over the 38.5% will see a higher level of acceptanceā¦maybe getting over 50% sold at 24p if you tender the whole holding?
Will be interesting how they trade tomorrow once the entitlement to participate is over.
Kooba, it will be interesting once the outcome of the tender is known. However all trades allowing to participate has already passed as the record date is today which means last trades to āentitlement to participateā would have been Friday the 5th as settlement date for those trades would be today thus entered on to the register.
Unless I misunderstood your post.
I did tender just under 38%, the 55,000 shares I purchased in tranches after the so called settlement or sale of IP or license agreement, what ever it was!
I think you are wrong ..if you sold your shares today you could not participate in the tender , the buyer would technically have the right . The day a share goes ex an entitlement is not three days before the ex date it is the day. So say you bought shares the day before a share goes they ex dividend ..the dividend is yours. Dont confuse trade date and settlement date. The entitlement goes with the trade date not the settlement date.
Ok, maybe your right, but settlement date is the actual date you go on the register. But CBA
ā Record date should normally be a Friday, therefore with standard settlement of T+2, the associated Ex date falls one business day earlier.ā
I tendered - I cannot be bothered any longer with a deceitful CEO, a piece ofā¦.
Echoing that HenryHistorian, hoping full holding taken. I figure it will naturally drift down again once they've completed the buyback. With the soon to be reduced cash balance, minimal revenue, the long jam tomorrow story and this management's track record it wasn't a difficult decision.
Hopefully your 17 supporters all follow suit HH! Good luck elsewhere, itās been emotional!
What's been emotional ?
Why should anyone want a whole load of people to invest elsewhere ?
Is this company so bad !
@Troublesome: The CEO has systematically misled investors prior to his capitulation to Samsung. Communication post capitulation to Samsung showed the contempt BT has for investors.
No thanks anyone still believing in the CEO needs his head examined.