Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
But with the potential prospect of NOT being able to sell them all at £1.50 if oversubscribed. Not sure this will help the share price any!
With the £1.50 offer hanging over us, the share price is always going to struggle - I could do with the deal happening sooner rather than later so I can crystallise my assets and move on. I'd wanted to remain, but I will happily now sell at that price. Just get it done. Don't quite understand why the RNS seems to be moaning about a traded company - the board chose to use this company to deliver what they want to deliver - they could have chosen any other company imho.
More likely a nominee account - same as II etc
The most recent we have is the tweet from the other day - progressing, but slower than they would like - we have no reason to assume it won't be going ahead, but equally no indication of the contrary
It's the same as all the other form 8.3 RNS that have been out - but in simple terms, it's a prescribed form (so Tintra have nothing to do with the wording of it) and is a required part of the process of a takeover. It's part of getting all the ducks lined up in a row.
Radia - it's not hard to find! Google tintra tweet and you'll get there! But to help "intra PLC
@tintraplc
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9h
Much progress has been made the past week in discussion with the bid being made for the company. All is going well. Little slower than expected but the signs are positive and the working relationship is good."
I would assume there are share movements going on in the background designed to enable the transaction to go through smoothly. I'd also assume there are still some willing to sell at a loss rather than wait for the £1.50 - presumably worried that the final offer may be lower? I'd still expect it to be at that level due to the small free float - but whilst shares CAN be bought on the open market at this level, I'd expect that to happen in the background. I too would like this to be done and dusted - I wanted more for my shares, but will take the £1.50 when offered - they are in my ISA so cannot be held as delisted shares.
Pedrobull - they are offering to buy all shares at £1.50. Whilst they can get some on the open market at a lower price, I would suggest that is what they are doing! Based on the main shareholders holding, I would suggest this is a done deal - at which point IF you don't mind waiting, getting in now is a guaranteed win imho.
Or maybe they are buying up more shares in the open market below the £1.50 mark - thus getting the deal done at a lower cost ultimately.
see rns 7th september - "lrb's proposal is in respect of a possible offer at a price of 150 pence per tintra ordinary share of 1 pence each ("ordinary shares") in cash, with a ************** alternative (the "proposal")" - which is (a) the terms of the possible offer and (b) i'd suggest the reason we are still suspended. as that rns also mentioned 6th october i think we will find out more during the course of this week!
SteJSteJ - I'd suggest it's actually spot on - accounts delivered by end of September, then the RNS drafted and published today - seems reasonable to me that it wouldn't be same day for the accounts and RNS - but I'd also suggest that the RNS's we are getting are all gearing up to the offer one - and I'd personally be surprised to see trading resume - though if it DID I would not expect the price to go up (or at least not much) as some will want to bail rather than waiting for the offer. I'd also suggest that (in my opinion) the timescales for the offer may be shorter than some think due to the distribution of share ownership.
For me, the quantity of share holding RNS plus the lack of audited accounts (thus keeping us suspended) show the deal is on track - we shall know more this week as the deadline is up. Of course I'd prefer the deal to not go through and the shares to remain listed - but reading the comments on here about the company plus the fact that the share price has been traded down so far must be part of the factor in the company doing the deal - that then removes the noise which might affect investment and allow them to function as a true start up. Luckily for me, I had enough faith in the company that I've averaged down to be below the offer price, so will have a reasonable return - I wanted a good return which I think is not to be.
Occam - the RNS I referred to was the recent deal, not the buy out. But I stand by the view that the company know what they are doing. Would be nice to get it all cleared though!
I'd refer you to yesterdays RNS - would you not think that due diligence would have been part of any agreement - I think the company know exactly what they are doing with the accounts.
SteamyWee - sorry, I didn't make my key point very clear - the fact that there is that possible firm offer suggests to me that the company are well aware of deadlines, and will publish the accounts at a time that suits - it is in their interest to keep the shares suspended. Just my thoughts - I have no idea how long it will be before things are sorted - the large quantity of forms being RNS'd suggests things are moving, and I'd rather this was done and dusted sooner rather than later if it has to happen!
SteamyWee - have you actually looked at the RNS - there is a probable buy back of shares to happen in early October - which is long before the strike off - I would imagine to stop any issues the shares will remain suspended - thus stopping any trading in the open market and (presumably) making the deal easier to execute. Cannot see us re-listing, much as I'd like us to - I will end up in profit, just not the level of profit I had planned for this share.
Gary25 - as far as I know it will need voting on - but that vote is a formality - if you look at the share ownership, the free float is VERY low, the majority are in the hands of a few who will vote yes.
Radiaa - you can certainly hold non listed shares in an ordinary account - as to how the platform would go about moving them from the ISA, I'm not sure, but I THINK it would happen automatically if you didn't sell.
Very few of the shares are held by private investors. So the company WILL delist and be in private hands something in excess of 80% of the company at a minimum being owned by the stated people. Anyone with shares in an ISA will need to talk with their broker or platform - they MAY be able to automatically move them to a non ISA account for you, but as we are not publically tradeable at the moment I'm not sure. Shares which are not listed cannot be in an ISA. I took the chance to average down, so I will make about 20% on my investment - NOT the sum I was expecting, but as my shares are in an ISA and I'm not happy to hold unlisted shares I will be accepting the offer - much as I'd like it to be higher.
We've commented before on the low free float - this time that means (I think) it's a done deal. I wanted more than that, but I'm not going to be invested in an unlisted share - I'm not confident enough in my financial abilities.