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I would always advise caution. This is my largest holding so let's say it's high enough to keep me watching this very keenly. I have been in here for over 4 years and was always going to be a long term hold. I sold out and bought back in the 30's and my average is around .6. This is now a trade for me and looking to exit at the most oppertune moment. My view is this will de-list and be taken private in he coming months by PJ. Gutted really as this has huge potential. It really depends on your average but I will not sell under 2p. Best of luck
Cheers, I like your soothing words :-) I gather you have a stack of these and I guess you are already in profit.... Do you have a target price? Or what SP do you think you will you start selling at if the SP continues to rise?
Yes that is a good point, why hold on to 5%. Hopefully Jones is not after 75% as if he was presumably he would have got the maximum he could from L and G.
He has a long way to go yet. Still needs 200 mill shares to reach 75%. Remember the offer from him has to increase to the highest price paid in a 12 month period. You also have to ask why legal and general still kept hold of just under 5%?
That is really bad news about Legal and General. http://www.theqca.com/information-centre/markets/1441/delisting-from-aim-issues-arising.thtml With no other major shareholders to keep hold of 25%, if PJ's offer is not accepted he will probably have little problem getting the 75% he needs to de-list the company. It seems those shareholders left would effectively get nothing. The SP may rise a bit as he buys but then more and more holders will sell and as he approaches 75% the SP will dive. Whatever happens PJ will get this company for a fraction of it's potential worth. You've got to admire him really.
Another really good day for us all, 40.30 M shares traded today and up 16.07%. I expect another decent day tomorrow, and more upward growth. What does everyone else think??
That is correct - I called the brokers and asked, they said he had got them directly from Legal and General.
That is correct. I rang the broker and they confirmed that Legal and General had sold a chunk directly to PJ
It seems as though PJ has purchased his additional 9.5% direct from legal and general
Just checked and legal and general are down to 4% holding on expansys website. Will need to find out who has taken these. I expect a certain Mr Jones.
I would wager any amount you like that the offer of 0.52 will not be accepted. Why would they? The matter is taken out of the boards hands when or if PJ reaches a 75% holding, he currently has 53%.
No I am not joking, experience tells me that the PI very often gets screwed. It happened at Rockhopper with the Premier offer and it almost happened at Dragon Oil when ENOC offered £4.50 only for it to be refused and the SP to rise to £6.50. All I am saying is be aware that the offer of 0.525 could be accepted, stranger things have happened.
I think its only just getting started
Yep he knows 0.52 will be declined. The higher the price rises the more he has to pay to get the rest of the shares. Hold on tight, another 15% up tomorrow?
Its an initial very low offer ( just an offer) not a serious offer just a starting place, the company doing well with cash and growth, that's why he wants its? all in IMO all the time the price rises then so will the offer, I'm not expert but that how I'm reading it He already has a ton invested and wants the rest, current buyers are forcing the offer higher knowing he will want to buy to complete the 75% required. IMO
is still buying then, he has to offer us the top price he has paid during the last 12 months. Therefore if he has bought again today, the 0.52 would now be something like 0.6. This average would obviously increase should he keep buying over the coming days/week. Or he could simply just sit on his 53% holding and the SP would get a huge boost owing to his recent increase in holding. As we are in an "offer period" he has notify the market within 24 hours should he increase his holding by an extra 1% or more.
Are you joking? I feel this might be the wrong share for you.
Someone coughed up £13k for 2m at 0.625 so some people must know something here.
I think you are correct, I have no idea why the price is rising when Jones has already offered 0.46 or 0.525 whichever it is, perhaps someone could enlighten us.
It seems to me know one in this room has a clue whats happening lol :) all the time the share is rising and rising, cheer up chaps we are in a far better position now than Tuesday, if PJ wants the rest of the shares he,s going to have to pay much much more than offered. IMO
Ouch
I think we invested at the same time pre the rise to 2.2p. And we both probably added on the initial fall convinced the prospects were still good. I'm really sorry, I didn't realize you had so much invested. I would lose a few K if I had to sell at the offer. The thing is, it's looking like we were correct. The prospects were good but (legally of course) there seem to have been some actions made that have pushed down the SP to bargain basement prices so that PJ can do this. I would feel a bit more comfortable if Legal and General had more than 20% of the shares. But then I guess PJ wouldn't be doing this now. He's a smart guy but I feel he's cheating holders out of cash for any offer below 2p. In fact when at 2.2p two years ago with all the Contract prospects 5p looked on cards.....
We should be holding you responsible for giving PJ his 10% on the cheap ;-) Best of luck
Cheers DcDan & Shenners. For the record I lost over £100k in my pension (ouch). Just means I'll have to work a bit longer now ! Anyway, I will be truly interested to see where this goes. I still scratch my head though at some of the past investment decisions.
I do feel for you. I have just had my fingers burned with Wasabi Energy, looks like thats gone down the pan. Really not sure why you sold at .35 but best of luck with your others.