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Just gone through!
if there is no further holdings RNS today. One of my niggles was either Threadneedle or Legal and General selling their remaining stakes under the counter for around the offer price of 0.52. We need these other shareholders to remain in place, thus forcing PJ to acquire the remaining 22% from the open market. He may just have purchased the 10% from Legal and General, as they were just too cheap to decline and not have any intention of de-listing
I guess PJ won't buy anymore until he knows whether his compulsory offer is accepted or not. If rejected, as we expect (hope), I presume he can make his own higher offer (2p please) or buy more shares and make a new offer at that share purchase price. This is assuming he really does want the company. I could be completely wrong (as usual). If he just wanted to invest more and the rules forced him to make the offer, then the prospects are still that the SP should rise from here.
I'm not so sure, most of the purchases appear to be smaller investors like us, 1M here, 2M there etc, nothing really massive.
If there was any change of holdings yesterday. I have a feeling given the volume that we may just get one.
LOL. She's worth a bob or two as well. PJ only cares about making money for PJ. I'm also expecting SP to rise and a 1p offer to be eventually accepted......but I'm hoping for 2p.
Are you relly Deobrah Meadon? The guy is a tool and does not give a fig. I would be extatic if he bought us out for half the original valuation
By the looks of things. If we see some more steady buying I would expect this to move up again today. This is a certain hold and wait for news.
Peter Jones sells PJ Media to retailer Expansys (2010) for £10's millions (I've seen £38m to £50m quoted in reports). Get Expansys to re-locate it's offices to Peter Jones premises (2011) to get rental income. Take a hefty share of Expansys shares investing a fraction of PJ Media profit. While Expansys has increased it's future profitability with global contracts co-incidentally some one off exceptional cost payments and poor performance in some areas of the business have worried the general market and trashed the SP. PJ swoops in to buy the whole company (which by now has more revenue streams than PJ Media had) for a fraction of it's real worth. No other real major shareholders so PJ will just bide his time and get an offer accepted or buy shares until he has 75% and delist. Whatever happend PJ will get the company for less total cost to him, than Expansys paid him for PJ Media. Rebrand/split the aquisition and sell off for a nice £100m's profit. Happy days for PJ. That's how to do business.
No problem, what I meant was, he has offered as low as he could under the market regs, and I guess when that is declined, he will have to come back with a revised and higher offer.
I made the right call for me at the time to sell. Had no idea that PJ would up his stake so significantly. Obviously, it was the wrong call. Sold at 0.5375, bought today at 0.6500. So not great investing to pay more in 24 hours when I was already down a net £580. (I was actually down £1080 when I sold but had earlier taken profits of exactly £500 on a spike up in order to mitigate risk, so I'm booking it as only £580...) However, I'm almost certain that the offer will be rejected. Either way, the stock will rise unless a further bad RNS is raised. Speculation will grow that a takeover is imminent, even if PJ does not add in teh next few weeks. However, with his purchase of most of L&Gs stock, it is clear he intends to take over. This will result in more people being unwilling to sell, which will deplete the available stock to buy. As he creeps closer to 75%, the stock will exponentially rise as more are unwilling to sell, and as opportunistic latecomers look to trade the party and get out before he hits the magic 75. As i wrote on Tuesday, I see an offer around 1.1-1.2p for the board to accept. (sadly, 2p is too rich I fear).
Hi Dcdan. Pease bear in mind he did not "offer what he could" but what he was obliged to under market regulations (apologies if I have misunderstood what you intended to convey). This was not a lowball offer. The real offer may or may not come later.
Don't forget Jones is best mates with Bannatyne and Bannatyne delisted his care homes because he got so P off with share holders telling him what to do. His offer was knocked back and the SP tanked until he eventually delisted and bought the company back for a pittance.
The facts remain that for Peter Jones to buy more shares he has to pay the market price, which is rising. He offered what he could at 0.525 but that will be turned down as the market price is now higher - He will have to come back with higher offer, maybe 1p, turn that down and then again until it gets accepted.
I would also like to think PJ would make a tender offer to minority share holders before delisting. Say he picks up 75% of the company on the cheap. He could pay 6 million for the remaing 25% giving us holders 2p per share. It's f-all for this company
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You will still remin a holder but there will be no market or liquiditty for your shares. You percentage of the company will remain the same bd will be entitled to see accounts/results etc. you can alo sell your share in the company to a willing buyer. The trouble is tt if you need to cash in your shares quickly or there is no buyer. I imagine PJ would make some kind of offer. Please check the above as it's only from memory
Can someone answer me a few questions If pj takes over this company and delist sit what happens to our shares Can they be sold ,do they still have a value If it delisted for two years say and then came back on presumably we would still be shareholders Is there' a scenario where he can compulsorily purchase our shares I'm in this for £35k at an average of 1.7 Or could he not be trying to buy it all and the share will keep rising?(no fantasist answers to the last one please) Thanks for your views
They may have taken the view to offload after dissapointing half year results and PJ kindly offered to help. Or they know a much higher offer for thier remaining share will be forthcoming. Interesting that one unknown company took a 4% holding today.
Let's say L&G paid about 3p for their 14% which cost them about £5m but they only just got back £500k for about 10%. Doesn't seem to make sense for L&G does it?
Best of luck and lets see what tomorrow brings
Would need to check but expect at least 3p plus. Sure they bought in around 2010 just check previous RNS. Let's see what happens tomorrow but ould expect some changes in holdings. What's your average?
Cheers. Well two years ago I was expecting this to get to 4 or 5p by now, so I am feeling a bit ripped off with what's gone on. But if PJ offers me 2p now I would take that and call it quits :-)
Another question is why did L&G sell anyway and why just enough so that PJ could make this play? Surely L&G knew what he was up to when they sold him their shares. Do you know how much L&G originally paid for their holdings?