Member Info for BIGBangs

I never have that problem with ii. The market size being only 500 shares is the issue here but if you trade at that you are guaranteed the price shown.

CITIGROUP CUTS METRO BANK PRICE TARGET TO 480 (660) PENCE - 'SELL'

I agree M, also as I can see the shorters easily able to participate in the placing be that overtly or discreetly then they could well have another push before they are finished - seems like an easy out for them.

Very tempted but I feel the placing etc will be £4.50 ish could be £4 or £5 so I’ll wait. You?

Seems they were forced to issue the RNS to prevent a run on the bank - surely only those with more than £85k deposited should have been concerned but the WhatsApp campaign scared many.

MTRO confirm they will try and deal with preemption rights but to be underwritten they will need to guarantee a chunk of shares to those involved. Following today’s drop I could see 2:1 right issue (48.5 million shares) at £4.50 raising £218 million and a placing of at least 40 million shares raising £180 million (all before costs) - I cant see the discount needing to be any greater.

I doubt it dimi but I might go to the AGM you?

Bring on a living wage for all I say. Why should society subsidise a company that cannot afford to pay a proper wage? We should be prepared to pay more for goods and services to ensure that the business stacks up and does not rely on the benefits system demeaning its employees and propping it up.

Or they thought it might get unruly and people are better behaved at the solicitor’s office than they are within a hotel.

I’ll wait for the RNS. Nothing to stop the shorters closing their position by participating in the placing so I am not expecting a short squeeze.

Z, I agree that the market is crowded especially as I am informed that undisclosed shorters (under 0.5) probably match those disclosed but this would be a very dangerous play for any but the best informed. The professional shorters have proved themselves to be the best informed and best connected in this and indeed any market. I can see £4 or £6 being equally as likely, all that matters is being on the other side of it rather than constant speculation.

As others posters have reported today’s press is full of ‘news’. A placing and open offer by the end of June suggests to me there is no rush to buy in. So for the moment I can continue to watch and wait - the shorters will know exactly what the price will be and when things will change so they will continue to dictate the price. Until they make a move I don’t see any incentive for non holders to take a position. I am certainly willing to buy, indeed I want to, just not yet.

I am only quoting from what ACA have reported themselves.

The Arbitration process is well advanced. ACA have informed us that the case will be heard in the Autumn and the verdict is expected before the end of this year.

We have been downgraded from the most expensive hotel in London to the lawyers office.

‘Acacia's Annual General Meeting ("AGM") for 2019 will be held at the offices of Shearman & Sterling LLP, 9 Appold Street, London, EC2A 2AP on Thursday 13 June 2019 at 13.00 (UK time)

None of what I have written precludes the shorters from having another push and on balance I think they are quite likely to do so - it has worked for them so far so why wouldn’t they?

F, nothing is impossible but I do not think it will happen that way. Barrick have already stated that they have agreed a deal in principle but there is some dispute as to what they have told ACA. If Barrick had wanted to play dirty then they would have done so at 95p. There are dozens of ways as a 64% shareholder that they could stack the deck - change M&A’s at AGM to appoint controlling number of directors or remove the ones currently in place, designate a management charge or capital cost to be sucked up leaving ACA with no cash, I could go on. Safeguards exist within the system to protect us and more importantly we stand with some enormous investors that have the power to ensure we and they are not taken advantage of. I may be proved wrong but I still have faith in JT, MB and Barrick - there are a load of reasons why they should and will do the right thing - 2:1 the easiest way to resolution - everyone is happy and then they can carve up ACA however they think best.

I think MTRO is heading that way A75, it’s worth a lot more but that matters little. I remained determined to wait until the RI is announced but I expect it to bounce significantly following the RNS.

Those that want to may eat as much humble pie as they like. Nothing has changed just the opportunity to buy for those that take it. The base line for the value of ACA will only come into view when a deal has been agreed with GoT. I understand MB’s reputation but you cannot ignore the rights of the minority investors - the true value of the company - of course including Buly and the not insignificant point that Barrick would detrimentally affect their own balance sheet by trying to buy ACA on the cheap let alone their reputation in the market. Talk remains cheap so let’s see what happens - buy, sell or hold it’s up to you.

Owls - you are wrong.

Thanks Troajan. Seems that Barrick and ACA continue to argue about exactly what stage they are at - if ACA have not been given the details how can they continue the process and put it to shareholders? We produce a lot of gold and could be producing a whole lot more - if anyone is in any doubt, that is a good thing, come on guys sort it out!