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My personal view is to get out while you can and stomach the losses. I feel so sick. Lost £24,000.
1.5m bought for 63.5p at 14:32
Looks like @dragonjones wasn't bothered about the concerns of @bennfranciss (or anything else, except $$$$) "@dragonjones Please be kind to us small Expansys shareholders" 5:29PM . 19 Jan 14 j.mp/1g1eWE7
Hi mate, I'm so sorry, I never realised you were in for so much. You have been so loyal to XPS and supportive of the BOD. Thank you for the efforts you went to in getting info from AC and the brokers. I, like you, was duped it seems. I think XPS has a future, we may even have seen a multiplication of the sp from here in time - and with new leadership. But now PJ will reap those rewards in his private company. Just watch it relist at 10p... This has been my worst investment, having lost 80% - but thankfully not my biggest. Sold today at just under £1.5k loss. Moving on. Dcdan and co - I wish you all the best for the future.
http://mcturra2000.wordpress.com/2013/07/30/xps-expansis-implodes/ Quote: "Given that the market cap of XPS is now worth £4m, I think it’s safe to say that the purchase has been a colossal destruction of shareholder value. I note that, according to Digital Look, Peter Jones CBE is still a director of XPS. There are clearly grave corporate governance issues with this company. Peter Jones has a lot to answer for. " Indeed he does have a lot to answer for, although he'll never have to answer since the questions are ones of morality and not legality. Whichever way one cuts it, this seems increasingly as if it has been the long-term plan from PJ, and furthermore, executed with a breathtakingly, cynical, and arrogant disregard for the loyal shareholders who have invested so much in a company with a huge potential (by any objective measure) and a potential that he will now personally capitalise on by delisting after "events" have "transpired" to drop the SP to a near-five year low. Thank You Peter Jones, CBE*. Thanks a lot. #richestonepercent *can anyone remind us what the letters stand for?
The only way I see to stop PJ delisting is if enough share holders get together who jointly own 25% and agree not to sell. The problem is that MedDeb and TM own jointly 12.6%. If they sell, PJ only needs another 10%. That's why I said if MedDeb and TM aren't happy they are in the best position to do something about it..... But I think PJ chose the 0.62p offer because it probably lets MD and TM out with a small profit or at least he feels they will take the offer. I just feel investors have been ripped off.
My personal view is to get out while you can and stomach the losses. I feel so sick. Lost £24,000.
What are all your thoughts here? I'm worried as hell, is it time to through the towel in yet, is there any hope? I averaged down to 1p with 10k invest ester, it's a hell of a loss at 0.6
If Med Deb and Threadneedle Management got together and decided to buy to double their holding they would jointly own more than 25% so they could prevent PJ from delisting, thereby forcing him to pay more to get control of the company. MedDeb and TM could push the price up and get a bigger return on their investment.....
The info is in the offer letter on PJ's website. Read it carefully, but my understanding is that if PJ's company PDJ Dibco get 90% via the offer they will act to make a compulsory purchase of the rest i.e. if you are one of the 10% not taking the offer you will be forced to sell (presumably at 0.62p but don't know). If they only get 75% (which seems fairly certain to me) they will delist.
Hi Guys, Can you help me understand: If PJ manages to get control of 75% of the shares will the offer of 0.62p per share be automatically withdrawn from the shareholders who own the remaining 25%? If any shareholder refuses to accept the offer now I'm guessing they can then only sell one the open market while the company is listed? There is a possibility that the offer will be rejected and the share price could further increase from here isn't there?
Well it certainly feels like we've been shafted here. Let's forget about it. Worse thinks happen at sea..... Are you in any other shares? As you have some cash on your hands now take a serious look at FLOW. Check out all the RNS's since Nov/Dec last year and the Flowgroup website/newsletters. Lot's of info and opinion on the BB also. DYOR and all that....
Hi Mate, I was worried that if a certain % of shareholders said No, but enough said yes, he could take the company private and leave shareholders stuck in the business with no way to sell and whilst I am not 100% sure that could happen I didn't want to take the risk. I have sold today and whilst I could have held out for more at least I have banked what they are worth now and have no risk of being stuck in a company without being able to sell out. Don't want to talk about my losses. I feel sick.
Dcdan, but if you sold today you got less than 0.62p. Why not sell to PJ for 0.62p? Am I missing something?
Sadly I've sold today. Can't run the risk if being stuck in a private company delisted by jones with no exit. Losses suffered. Sadly. A sorry end to a share that had do much potential .
The problem is that the majority of shareholders don't own the majority of shares. Jones has control of 53%, he only needs 75% to delist if holders don't accpet the offer. The additional 22% of the shares he needs are held by a small number of shareholders.....
With this new offer, what happens if the majority of share holders do not want to sell? does this mean that our shares would be transferred to the new company. thanks for any help. jules
That means PJ is buying the rest of the company for an extra £3.4m..... He will split it up and make another fortune.....
Now we know. So who is accepting that?
ithis form shows a sell of 5billion shares is that right?
Have emailed the broker for an update. Will let everyone know when and if they respond.
Seems like we are down to Form 8 instead of 8.5 anyone have any ideas on the relevance of this, is the offer period over?
Not received a thing!
Has anyone received anything in the post re the offer?
Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of an offeree company or of any securities exchange offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any securities exchange offeror is first identified. An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 pm (London time) on the 10th business day following the commencement of the offer period and, if appropriate, by no later than 3.30 pm (London time) on the 10th business day following the announcement in which any securities exchange offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a securities exchange offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure. Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of any class of relevant securities of the offeree company or of any securities exchange offeror must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any securities exchange offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror, save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 pm (London time) on the business day following the date of the relevant dealing. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a securities exchange offeror, they will be deemed to be a single person for the purpose of Rule 8.3. Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4).