Member Info for Batfasted

Hi Duncan
Those who have been buying are listed in this link on the “Movers” under Major Shareholders.
https://markets.ft.com/data/equities/tearsheet/profile?s=SAGA:LSE
Does this help?

My reading of the takeover code confirms that this takeover can never succeed now that one major shareholder with 15% has declared that it does not support the deal.
To achieve a takeover by compulsory purchase of all shares, the Offeror has to gain support of 90% of shares.
To achieve a takeover by a Scheme of Arrangement, the Offeror has to gain support of 75% of shares at a vote. Any shares owned by the Offeror or its Associates are excluded from the vote. An Associated Company includes any shareholder with control over 20% of the Target Company’s shares.
Since I understand that 50% of shares are owned by Associates, it seems that 15% against the takeover is sufficient for the takeover to fail. This is because 15% is more than 25% of eligible votes. In any case the FCA have a remit to protect minority shareholders against majority shareholders trying to overpower them. See link: https://www.fca.org.uk/news/press-releases/fca-strengthens-listing-rules-enhance-protection-shareholders
I would be interested to hear how others think it might succeed.

Bought at 52.25 a few minutes ago. Can’t lose at this price as far as I can see but I also thought the same when price was 57.

DD77. FYI the current short positions are listed here:
https://www.fca.org.uk/publication/data/short-positions-daily-update.xls

DD77. What makes you think major shareholder(s) are shorting their own stock. Think about it. That could never make sense to sell your own shares at a lower value in the future than they are at today. Simply giving money away.

My reading of the takeover code confirms to me that this takeover can never succeed now that one major shareholder with 15% has declared that it does not support the deal.
To achieve a takeover by compulsory purchase of all shares, the Offeror has to gain support of 90% of shares.
To achieve a takeover by a Scheme of Arrangement, the Offeror has to gain support of 75% of shares at a vote. Any shares owned by the Offeror or its Associates are excluded from the vote. An Associated Company includes any shareholder with control over 20% of the Target Company’s shares.
Since I understand that 50% of shares are owned by Associates, it seems that 15% against the takeover is sufficient for the takeover to fail.
I would be interested to hear how others think it might succeed.

Unless I am mistaken, my reading of the takeover code confirms that this takeover can never succeed now that one major shareholder with 15% has declared that it does not support the deal.
To achieve a takeover by compulsory purchase of all shares, the Offeror has to gain support of 90% of shares.
To achieve a takeover by a Scheme of Arrangement, the Offeror has to gain support of 75% of shares at a vote. Any shares owned by the Offeror or its Associates are excluded from the vote. An Associated Company includes any shareholder with control over 20% of the Target Company’s shares.
Since I understand that 50% of shares are owned by Associates, it seems that 15% against the takeover is sufficient for the takeover to fail.
I would be interested to hear how others think it might succeed.

Hi Jamesroo. I agree that the current price is far too low based on the most recent accounts and then predicted EPS. I suppose that investors are waiting to see if this EPS is achieved and then they will have missed the boat or get on board at much higher prices.

Hi Wednesday. I believe the CMA are only interested in whether a merger would have an impact on competition for products/services offered to the general public. Their remit being to protect the public against mergers that would reduce competition.