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Just bought in
18 May 2016 SyQic plc ("SyQic" or "the Company") Extension to deadline in accordance with Rule 2.6(c) of the Code . On 20 April 2016, the Company announced that, in accordance with Rule 2.6(a) of the Code, Jamal Hassim, Chief Executive of SyQic, and MMV Investments (HK) Limited, a company owned by Johan Robb, (together "Bidco") must, by not later than 5.00 p.m. on 18 May 2016, either announce a firm intention to make an offer for the Company in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. The Company also announced that it could approach the Panel on Takeovers and Mergers (the "Panel") for a further extension to this deadline in due course in accordance with Rule 2.6(c) of the Code. Following a request from the Independent Board of Directors of SyQic, the Panel has consented to an extension of the deadline to 5.00 p.m. on 7 June 2016, by which time Bidco must either announce a firm intention to make an offer for the Company or announce that it does not intend to make an offer for the Company. This deadline will only be extended with the consent of the Panel in accordance with Rule 2.6(c) of the Code. A further announcement will be made when appropriate. This announcement has been made with the agreement and approval of Bidco
gotta be worth a punt for Tuesday
£180k days before the deadline is not a punt. I'm in
I must say a 1 million purchase just days before the results and offer deadline is reassuring.
That's over 3% of the Company so a holdings RNS must be imminent.
OK, I didn't make it clear, someone bought on the news that Indonesia telecom paid £14M.
How is a company repaying a debt by buying stocks on the open market 4unme?
It could well be Indonesian paying the debt.
£180k worth, someone knows something? Not exactly pocket change..
what do you think of that? Deal going through?
someone bought 1M shares, £180K worth. WOW
ok
holding almost 2% has to be a positive imv.
See the latest RNS, that's the renowned Bob Morton
Utilico Emerging Markets Limited are invested with around 9%. http://www.iii.co.uk/research/LSE:UEM http://www.uem.limited/files/9114/6313/9377/UEM_Factsheet_April_2016.pdf
They may want to see the results first.
There is one part of me that thinks the whole thing could be a ruse to promote some price strength in order to let a few more seed investors out, but on balance I think it's genuine.
how sorted do they need to be?
Yes, the only rational explanation would be due to the acquiring party sorting out the financing. The DD process can't be particularly exhaustive!
why?? Great if Panel or independent NEDs were transparent and told us all why..after all, the possible bidders are "insiders" - aren't they? -who know the business better than anyone..delay to do what?..line up finance?..will there be further extensions? ..jolly confusing
What does she know?? Senior buyer for BNP Paribas!!. 1.1% personal holding bodes well in my book GLA.
Assuming 'there are still Tigers in Sumatra? Up 10%, double the avg volume & mostly buys...is this the beginning of the end or the end of the end? LoL
Indonesia in the 90s and the PTTs would pay no attention..they were/?are emperors...for them who is syq? a fly on an elephant doesn't come close imv ============================= Bullying is everywhere. In 2009, B&Q didn't pay some small suppliers for more than 9months and caused them to go to administration. Supermarkets are not paying reasonable milk price to dairy farmers. I guess, this PTT can bully small SYQ. The only way to win it will be naming and shaming them on twitters or facebook. GLA