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Not an exact comparison but stonewalling can be effective in the short term.
TGP and Daniel Levy. 1
SAG and Harry Kane's brother. 0
probably, they will blame SAG for not doing what they asked for... waste of time.... H1 results due on 14 Sep
Will we get a statement from our board?
stokey, as I said, happy to be wrong... the share price is clear indication ... if the upcoming results are not impressive it will dive down further.... or may ever pursue other holders to sell out...
For the avoidance of doubt y post yesterday evening was not based on prior knowledge. It was based on the absence of any due dilligence being done.
SAG needs to pursued M&G to let them buy their shares with a side agreement protecting them that if the offer was ever to go above 6.5p they would compensate them for that. That way M&G would get comfortable to flog their chuck and we would move forward.
Morons. totally agree, let SAG pick up more cheap shares and let them offer less then 6.5p again in due course. what a bunch....
scrodinger- sticks and stone love the conspiracy theory.
Who do you think I'm working with, ISIS, QAnon?
SAG have pulled out - but can now hoover up more shares at 5.2p.
They will force an EGM and oust McCree
Put a man on the BoD then will be able to undertake the diligence they require.
I've been in nigh on 15 years. Happy to wait another year
Will this go hostile now?
Hi Guys,
Have you seen the last price movement? Do you have any idea about that,it s huge fall %12 went down?
fatoomch, we all know by now what you and Lasvelas want to happen. The buying has however stopped that's not a matter of opinion and could of course change at any time before the deadline, if you and Lasvelas are so desperate to get out at 6.5p contact your broker and see if they could sort something out with SAG. Leave the rest of us to stick and see how this pads out. But you won't will you, you will continue to sing SAG's praises and encourage others to dispose of their holdings.
Agree with Lasvelas. This isn't a game of bluff. SAG see an opportunity at 6.5p to make a profit.
SAG have finessed their hand perfectly - next step is to close the deal
tbh TPG are a sitting duck.
SAG will
Stokey - maybe I am wrong but I think they will. Why use all this capital and not give it a go. I believe they will do it.
SAG only has until Tuesday to make a formal takeover bid. I think everyone knows where I am on the issue of a takeover. From what SAG has said previously unless something has changed behind the scenes I would be surprised if there was a takeover offer.
Bill - you say potato....
groping around - I say mopping up. Sensible to keep building a position cheaper than 6.5p
Interesting RNS from Cenkos today. They are sitting on 900k now - having bought an additional 100k yesterday and sold zero. At the same time SAG picked up @800k.
So SAG bought directly- not through Cenkos. As a MM - assume Cenkos would sell that 900k at a small profit.
BarcelonaBill. I dont think so. Institutional investors have their own rules they have to follow. They will not sell to SAG directly unless they know SAG will make a bid for TPG at 6.5p for sure. Promise is not enough. So they are holding on under official bid is made. Obviously certain institutions have the ability to overwrite this rules. I am not an expert but I believe the take over bid will happen.
Today's RNS shows SAG groping around for any shares they can get at current market price so it would seem that remaining IIs are holding out. Does that suggest they are as confident as BoD that 6.5p grossly undervalues TPG?
can not buy if you have no free cash to buy , only a deal but needs access to accounts for backers to lend
They have another week and a bit left before their time to make a bid runs out. Somehow I think they are working on something. Surely they will not let this slip without further fight after committing chunk of their company cash to buy nearly a quarter of TPG. Let's stay hopeful and remain patient...
After daily purchases of shares by SAG thee does not appear to have been any more purchases of shares since the 27 August. This leaves SAG owning 24.3% of the shares. Strategically I would expect them to buy another 1% of the shares as this would give them sufficient power that the BoD will have to engage with them. It will also help get their resolutions pass as and when the EGM is called.
Thank you so much for your attention.
Hi back2black
Not sure where you got the 6.75p figure.
As I understand it, if SAG acquire 30% or more of TPG, they would have to then make an offer to the other holder's at no less than 6.5p, which is the highest price they've paid for any share so far.
If you look at fatoomch's post on Wednesday, it explains that if you hold 500k or more, their Broker will buy your holding via your Broker, if your Broker facilitates that type of transaction.
I've not used that system before so you would have to do some research.
SAG could buy up to 29.9%, then just leave it as a strategic investment. At that 29.9 % figure they do not have to offer anything to other shareholders & the market will decide the SP as usual.
This is only my understanding of the situation, I may well be wrong.
Other poster's with more knowledge please correct me if I'm off the mark.
DYOR
Cheers R
Hi Radius,
i read a lot about price 6,75p, and i've been holding this share last 5 month. Is there any assurance about that price so can we sell our shares that price in next couple week?
My mistake, block listing has been going on for a while & quite a bit bigger than the £18.9m!
Still useful to know.
DYOR
R
Ruffer Investment Co.Ltd are in the process of issuing a block listing of preference shares.
Interesting timing.
Details on London Stock Exchange website
If I've worked it out correctly, (please correct me if I haven't) their raising approximately £18.9m.
(You could buy over 290m TPG share's at 6.5p with that, if you wanted).