Ocean Wilsons Share Price (OCN)

The relative share price performance of each company provides a clear summary of how far too little consideration was given by both Hansa and Ocean Wilsons to represent and to protect the latter's shareholders.

Whilst I applaud the resilient stewardship and guidance of Oceans Wilson's over the last 40+ years, there seems to have been insufficient creative thought given to solving one of the most difficult obstacles that acquirors and their advisers face and often shy-away from "How can a low yielding company acquire a much higher yielding, cash rich company in which it has a very large shareholding?" One of corporate finance's perennial conundrums.

The original terms represent an exceptionally good deal for Hansa shareholders and a poor deal for Ocean shareholders.

"Thank you" to all who say "NO" to this attempt to wrest absolute over cash-rich Ocean Wilsons.

All power to those who vote AGAINST this woefully inadequate offer.

Allelujah!

Can anyone offer an up to date NAV per share for OCN? Does the cash balance equate to the share price? Have the Americans got a hope in hell of torpedoing the share swap? Answers on a PC.

Vote cast against. I have had direct correspondence with OCN and their justification for the proposal is lame to put it mildly. If you feel the same, do vote, as the scheme requires 75% by value AND in number to pass, so your vote matters even if your holding is small.

To help the cause I've just bought some OCN in my own name through Smart Investor & instructed them to vote NO to the resolution.

If your having difficult voting NO then I suggest you do the same, call up your online broker, make sure they can fill in the paperwork in time & get it delivered where it needs to go etc & if they can buy a few shares & tell them to vote NO.

Those who like to arbitrage should be buying OCN shares & doing the same thing, as you've got nothing to lose by doing so with plenty of upside potential possibly back to £15 a share if the merger fails to go through.

LOTM

Per another message board, Investors with Interactive Investor must ask it to manually add the ballot to their voting mailbox. It will not appear otherwise. May be the case for other brokers. Best to check if you want to vote