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So a big “maybe” RNS after hours that would make for a fun weekend for the board!
Iangibbins, been doing some digging into takeover rules, yes 5:00 tonight under rule 2.6
2.6 TIMING FOLLOWING A POSSIBLE OFFER ANNOUNCEMENT
(a) Subject to Rule 2.6(b), by not later than 5.00 pm on the 28th day following the date of the announcement in which it is first identified, or by not later than any extended deadline, a potential offeror must either:
(i) announce a firm intention to make an offer in accordance with Rule 2.7; or
(ii) 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 applies,
unless the Panel has consented to an extension of the deadline.
dont forget the done brothers they may make a cheeky last minute bid.
Iam so confused, admittedly it doesn’t take a lot , but all the buys over the last week , not for pennies either , what’s going on , HELP can Apollo still bid up until 5 tonight ??
is someone waiting till last possible minute to put in a counterbid so they cant be outbid ?someones been buying at a premium.
So has Apollo ran out of time now , or have they got untill 5 tonight
I am in the same boat, But for me , Its worth the risk holding on, Its what would i be most gutted about, Missing out on a higher offer, or taking 272, Or if no higher bid, Waiting to see what the future holds, The Shares are in my SIPP, So cannot spend the money even if i wanted to unless i pay tax
thechancers, I think you’re right, more I think of it the cash raise was a preemptive bribe (IMO), thus the ii’s that loaded up at 128 are laughing. Also the push down of the price at the breakout Covid (well over done) was also apart of the game to get cheap shares from pi’s. As we said back then why was the share price being pushed down so far. I’ve still got 2/3 of my holding, not knowing what to do now. We’ve been screwed over but profit is profit. Do I take the extra now and move on or vote no, decisions, decisions.
Supposed to be in December
What date is the vote???
What are we expecting in the coming weeks before the vote , Its clear now that Apollo isn't going to place a offer since time is up.
I personally think many people will be hoping that the offer is voted down and hoping for a better offer. Hastings declined the first offer before the company was happy for it to go to a vote , Our issue is WMH saying that their happy with the offer.
I strongly believe that the offer will NOT be accepted and if it isn't, Will people buy in hoping for a better offer or a sell off , Don't forget a lot of PIs have already sold out
If you look at RNS for Silchester International Investors LLP (today). One of those yesterday’s 2m buys was actually a sell. Unless I’m reading it wrong.
Yes something is going on, you can understand sells at these levels as investors have all made money and are happy. But the buying has been enormous over the last few weeks and you don’t buy in the £2.80 range to sell months later at £2.72. Who is building that’s the question. £2.72 far too cheap , this is so far from a done deal in my eyes.
6.8 million shares bought after time must know something not buying for pennies
If those after time buys are buys wow. Under takeover rules if they don't make an offer in this period I think that's it for six months (frozen out). Happy to be corrected.
I don’t think Apollo will come in with offer ,but when they are out of the way , I think then other offers will come in , there just waiting to see what there up against??
Think the offer was subject to being lowered in the case of a dividend payment
In the trading update only a mere mention of the vat refund as though it is peanuts £150 /£200 could be a special dividend to sweeten the sour deal
The two top executives at William Hill will collect retention bonuses totalling up to £2.1 million after the £2.9 billion takeover by Caesars Entertainment if they stay on until the non-core assets are sold.
The potential payouts were revealed yesterday as Caesars and William Hill announced that the bid by the American company had been recommended by the British group’s board. Including debt, the offer values William Hill at about £3.25 billion.
Ulrik Bengtsson, 48, who was appointed the bookmaker’s chief executive a year ago, and Matt Ashley, 46, its chief financial officer, will be entitled to cash payments from Caesars equivalent to 200 per cent of their salaries.
Thursday October 01 2020, 12.00am, The Times
282.70 it’s getting close for me because no offer from Apollo and that will b 272 by end of tomorrow
And I would stake my life that they are set up in the uk side of wmh and written in to any deals when they sell off the uk side you can b sure of that
No details on that. UB and MA get 100% of salary on delisting. a further 100% if they stick around for 6 months.
nice work if you can get it.
Does it say anywhere after they get the bonuses, are they offered a job on the board or elsewhere within Caesars.
Its all public information.
7. Caesars agrees to implement retention arrangements for the executive directors of
William Hill on the following terms. Subject to and conditional on completion of the
Acquisition and William Hill being delisted from the London Stock Exchange, Caesars
shall pay each individual who is an executive director of William Hill as at the date of this
Agreement cash amounts as follows:
(A) a payment equal to 100 per cent. of his base annual salary (less any legally
required deductions), payable within 30 days of the Effective Date or, if later, the
day following the date on which William Hill is de-listed from the London Stock
Exchange; and
(B) provided that the relevant individual has discharged his duties satisfactorily to the
payment date (as determined by the members of the Remuneration Committee
of William Hill, as constituted before the Effective Date, acting reasonably), a
payment equal to 100 per cent. of his base annual salary (less any legally
required deductions), payable within 30 days of the earlier of (i) completion of the
sale by the Caesars Group of all or substantially all of William Hill’s non-US
business; and (ii) six months following the Effective Date
Seeing your message it would be interesting to see the demographic of the members of lse, and the other website board (that I don’t frequent).