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Poor offer considering the assets imho anything above 20p maybe
Is this really the way it will be for this ? i'm with interactive, and we usually get emails on voting on corporate actions, you certainly dont have to contact them !
Don't worry, guys. We have all the trump cards. It is our company, and we will make them pay if they want it. :)
Around 7% of SHG shares were traded yesterday. I am pretty sure at least half of them will vote against the 13.5p offer. Big players and M&A arb guys see the opportunity to have a free lunch of 13 -> 13.65 arb and, ideally, squeeze ETC Holdings into a higher offer.
Please get onto your broker asap.
If you have an IG account, I have been told to send a request to:
corporate.actions@ig.com
I asked to register for voting purposes for Shanta Gold (ticker: SHG) and all of my holdings. I also sent them my details and sharedealing account number. Good luck.
So yesterday unknown trades were huge. How is this going to affect the outcome I wonder and fear?
Dec-23 15:39:23 12.80 702,547 Unknown* 89.93k O
20-Dec-23 10:42:13 13.10 1,000,000 Unknown* 131.00k O
20-Dec-23 15:50:17 12.85 2,000,000 Unknown* 257.00k O
20-Dec-23 11:01:13 12.925 831,722 Unknown* 107.50k O
20-Dec-23 10:57:29 13.00 1,000,000 Unknown* 130.00k O
20-Dec-23 11:21:51 13.114 2,500,000 Unknown* 327.85k O
20-Dec-23 14:30:46 12.90 5,100,000 Unknown* 657.90k O
20-Dec-23 14:33:18 12.90 834,142 Unknown* 107.60k O
20-Dec-23 10:35:50 13.00 1,000,000 Unknown* 130.00k O
20-Dec-23 14:20:51 13.00 1,000,000 Unknown* 130.00k O
20-Dec-23 14:30:15 12.95 1,000,000 Unknown* 129.50k O
20-Dec-23 13:05:56 13.00 1,000,000 Unknown* 130.00k O
20-Dec-23 10:28:04 13.10 2,000,000 Unknown* 262.00k O
20-Dec-23 10:32:47 12.925 896,085 Unknown* 115.82k O
20-Dec-23 12:15:55 13.00 1,000,000 Unknown* 130.00k
Cant believe some people on here are still giving this board the benefit of the doubt, you dont gamble in this way to flush out offers as we were in a fantatstic cash making position, so there is just no need. there are tons of undervalued companies out there and they normally do buybacks
it is very clear what is going on here, if it was a straight up good offer the board / eric could address it on numerous platforms but he isnt is he.
people in life show you exactly what they are and you only need to see it once.
Reading the RNS again it looks like 20% of the shares are committed in favour of the proposal and a 75% majority is required of those voting either in person or by proxy on the day. Hence it is very important that peeps record their vote otherwise OUR apathy will mean the 20% (already) in favour will become a potentially much higher percentage of the total votes cast on the day. That will be what the BoD is hoping will happen!
In the appendix it clearly states that other offers to buy Shanta Gold are open to the Board. The price however need to be 10% higher then the acquisition offer of 13.5p which of course is 14.85p. Lets all see if Gold fields or another company chooses to buy the company at that price. Shanta gold is being market tested and hence why the top two shareholders have gone along with all of this. There is no hurry. It will take time for presentations and documents made available to the court and EGM. If an offer as suggested arises in early January it may change everything here and if two companies bid market value will then prevail. If no offers arrive for Shanta then the argument is about a higher dividend then just 0.15p as the company are earning far higher amounts of monies during 2024.
I imagine that no bidder will be expecting their opening bid (normally the bare minimum) to get accepted. Any serious bidder will have or ought to have a headroom for improved offers. This one is very cheeky and rather insulting. Get onto your broker and ask them to register you for voting purposes for this and all of your holdings. Dont waste time. Let's give Mr low bid something to think about!
I think ETC Holdings realise they will not get 75% votes with a 13.5 offer. Then why did they come with the offer so low? I think it is all about psychology. The human brain is wired to compare. If you come up with a 13.5p, and then raise it to, say, 16p, then it would look as attractive as offering 25p from the start. I think those who are selling now are making a grave mistake. Of course, there are gambling opportunities in other stocks. But here we have 13.65 floor in two months, with a highly probable upside option, for free.
I will be voting my just-under 1.5m shares against the offer. I agree that it is derisory and a bit 'sharp' to make such a low-ball offer, taking advantage of Odey's forced sales to justify it. I thought Eric had more integrity than this but admit I have no idea what discussions have gone on over these past several months.
This is new territory for me and as such would dearly like a definitive idiot's guide on how to cast my NO vote please
It really is so so dodgy the way Eric took all those questions re 'what are you going to do about the share price?' in the Investor Meet's each quarter and each time he laughed them off saying there was nothing to worry about, the share price will respond in time to all the progress and if not there are other ways to get it moving or generate returns to shareholders (implying large special divis or buybacks).
This deal really needs to be sweetened to make it palatable - is it possible for Bidco to improve it by say 2p without any challenge from a counteroffer?
Good plan, think "we" all should be banging the drums, ....Maybe Russ will raise with Sky Business news next time he's in front of camera with Ian King ??
I also seem to recall Daily Mail tipped us some time back, again a Christmas expose story for them to run?
It's also interesting (AKA frustrating) until recently Liberum Capital used to have us down as a buy @32p odd. Since then the company has matured so why this low offer, unless of course it is an enticing "come and buy" me price to draw in other suitors for a bidding war!!
Either way I'm holding fast as together we are stronger.
Maybe Russ will raise with Sky Business news next time he's in front of camera with Ian King ??
A phone call? Can't we do it online? What's the deadline?
Peeps are normally apathetic when it comes to voting on company resolutions. Let's hope that is not the case here as it just needs a phone call to register a vote against this rip off proposal....
Bid explains why sp was being held in a range and the BB infested with gold prices going to flop etc. Nasty tactics but the norm in these scenarios. Vote it down and make then come up with a better offer or get stuffed. Lets hope another bidder kicks in. The BoD as per norm on aim appear to let chums in and Pis get stuffed. Vote no to this derisory offer and sp manipulation imo.
Surely shareholders are the business owners? Is this going to make us richer? I think not!
Donāt expect any authorities to do anything - only way forward is hitting 26% of votes cast
Follow up resolution to sack the board obviously (unless we get a better offer , say 17p in the interim )
By my crude calculations, if more than 50% of PIs vote against it they are toast
19% votes which they have is 75% of the vote only if a total of 25% of shareholders vote.
So letās see if PIs always get screwed , or only if they donāt front up
Shanta have the services of Memery Capital as a lawyer, no doubt that means Nick Davis who was a Shanta director for a few years and knows Shanta inside out.
I quite liked him and I believe he is smart
They've forwarded my email to Russ Mould who covered Shanta earlier this year.
I can assure you it will not get investigated one single bit. everything being done is within the legal law and the authority has little capability to do anything anyway.
the law is written and designed to make business owners richer, itās been written along time ago by rich business owners so nothing changing now. best hope, vote the deal down, that is possible to win but it % based on oneās that vote NOT actual who is on share register.
therefore business relies on apathy, people not bothering so even say the 20% voting for the deal can be over the 75% threshold on the day!!
G_G_G has 4,000,000 shares
Bad day but all about what happens next
Thought about selling but didnāt yet
Itās up to 2 or 3 big pi investors to decide to do something about it
As things stand i for one would get behind it with my c Ā£40k of stock
For me itās partly a matter of principle, but we need a couple of big holders here to get busy and provide a mechanism to allow smaller holdings to coalesce
Not impossible to do something about it - so letās see what some bigger holders want to do, moaning after a while is pointless
They want this on the dead cheap with an FU to the shareholders- happy to give them a poke in the eye pending some leadership on this one