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I would also like to know. My stocks have just gone down to 132? Should we have sold before the deal. I assumed once the deal went through we would just get paid off??
what happens to all the shares what people are left with
It's done - The deal is complete and Hills now form part of Ceasars as of today.
how long is trading stopped for
maybe because the shares ceased trading today?
Why can't you buy or sell these shares
Google showing Hills shares jumped back up to £2.78 at 12.28... maybe objection gone in?
well spotted, 22nd trading to stop
court signed off
Anyone got there money yet?
Next stop £5 choo choo
The Board certainly didn’t cover themselves in glory with this deal. Recommending a low price to shareholders, whilst simultaneously shafting their employees by agreeing to sell to an organisation that wants rid of them ASAP.
Surely now this deal will be turned over and I'd be asking for odds that this will happen with the share price touching 278.00. It's obvious that what we all thought in the first place has come about, i.e. we've been sold down the river. However nothing is certain but one source says if the deal is scrapped the shares could rocket to the mid £4 range. We wait with bated breath.
Thanks for this, I do hold the paper share, as i say not many at all but im sick of waiting! HL said that i could open an account with them but they couldnt take on the share sale! Ill ring around this morning. I was very surprised to get the response from computershare whos number i got from the investor website section of williamhill.com said that the sale was agreed and no sales were now allowed and that my cheque was being raised for £2.72 the next day!
Paolo, Ciao! HL's claim that they won't sell your shares due to Covid has flabbered my ghast. If that were remotely true the LSE would have been shut for over a year. So if you have a paper share certificate (?), I'd suggest you call around a few brokers like Barclays, Halifax and Peel Hunt, and ask the question. Will you sell this for me, please? For a £15 fee, I imagine that one of them will. But, if no-one will help you, I suggest you ask the question at the LSE's own website. (londonstockexchange.com) Good luck.
thanks for your note. Im only left with a few shares (1500) i picked up a while ago and have been sitting waiting for some kind of offer to come along, though i did expect better than the caesars one. HL wont trade the shares on my behalf as due to COVID they say they cant sell them on my behalf, and after some confusion yesterday about who actually could sell them, as the link from the corporate WH site said they werent sure if they could and that the cheques would be raised today! the response to "im watching them being traded" was that that just wasnt possible!
I was talking to the Registrar to try get some sense but they hadnt a clue and the line they were holding was that trading ended on the last day of march, which i had to educate them was not the 31st!
Paulo,
I suggest you advise your registrars that they are dead wrong. WMH failed to obtain court approval on March 31st and Caesar's Bid requires Court approval before it can pay anything to anyone.
Meanwhile, there are millions of shares being traded daily and over 80,000 traded so far this morning - all around 275-276p. Perhaps suggest to them that they visit the London Stock Exchange website to see for themselves.
Question: why are you talking to the registrar? Surely you use a broker to buy & sell?
Ive just tried to sell a few shares through the registrar and been told that i cant as the deal has been agreed and will be paid out now at the offer price
We had one internally a few days back from Ulrik literally saying nothing has changed and were still waiting for the judge to return a verdict with no dates given.
Is it normal not to keep shareholders up to speed with what is going on? Not heard a thing for God knows how long.
Once again showing complete indifference and disregard , but then, whats` new
In the US, legal clerks actively contribute to the content of judgments. However, in the UK, the clerks tend to be ex police or Warrant Officers and consequently not qualified to offer legal.opinon; they certainly type judgments.
Thanks for your extended reply Gewillia. A lack of precedent had occurred to me. This will probably run for a bit so it's time to let the slow wheels of legality run their course. No use worrying about things that you cannot control, but as you say a reasonable wager on the outcome if you have plenty of readies, Cheers
Ronnie, Judges always take their own sweet time, because they have a clerk who writes the judgement for them. The judge will tell his clerk, after the hearing, which way he leans and expect the clerk to come up with legal arguments, including precedent, in the form of previously adjudicated cases, to support the judge's opinion.
I'm no lawyer, but I'll bet there is precious little in the way of precedent here, because almost all court approvals go through 'on the nod'. There's no opposition at the hearing. However, the evidence presented last month was clear and pretty persuasive. The board of WMH told the PI's the absolute minimum, both at the time of signing the Caesar's deal and later on the offer. They arguably misled us all, in a very serious fashion. They told us the truth, but they were a long way from telling us the 'whole truth'. That's called 'lying by omission' and is highly disapproved of in Contract Law.
To bar the deal on the grounds of misrepresentation by both parties would, I believe, be a first. Consequently, if that's the judge's opinion, the clerk has the onerous job of getting all his ducks in a row, so that the judgement is as bullet-proof as possible, when it goes to the Court of Appeal, as this very likely would. No judge likes receiving ruderies from his AC colleagues, if the judgement is dead wrong.
Likewise if the judge is minded to approve the takeover, he also needs to get the judgement right, because the plaintiffs are the owners of more than $300 million of stock in WMH and will also likely appeal, if they lose. This is a fascinating case, from the legal perspective. Meantime, Caesar's who were very circumspect in their 1st quarter update, are supposed to be giving much more detail on the 21st, next week. I assume this may not happen, depending on when the judge delivers his verdict.
Meantime, the SP sits at 5p over the agreed TO price, which tells you that a lot of Hedgies still coming in the for the ride, reckoning there's a good chance of Caesar's having the submit a higher offer, north of £3. Their risk is 5p lost if the judge approves and the reward is 25p+ if the judge sides with the large shareholders. Pretty good odds if you've a few million to spare.