Member Info for bridget1963

had a day out ,lunch then went fishing , better than watching the paint dry on Cres BB ,,

see post timed 13.21 Interesting very

all the junk posts from me are ref possible takeover scenarios and a pointer to page 150ish of rights issue regards some of the land values , just to add CRES value was aprox 17p now double shares so down to 8.5p Before new valuation and all assets they hid pre liquidation , but should come out now the PPF have access , remember the post on here 2 months ish ago ref the mineral rights not being in the new reports valuation 2012 , interesting if someone mentions this to PPF , enjoy the weekend, , Good to be back , bet no one noticed I had disappeared from the BB ..all posts removed !!

Sell-out The Companies Act also gives minority Shareholders a right to be bought out in certain circumstances by an offeror who has made a takeover offer. If a takeover offer related to all the Ordinary Shares and at any time before the end of the period within which the offer could be accepted the offeror held or had agreed to acquire not less than 90 per cent. of the Ordinary Shares to which the offer relates, any holder of Ordinary Shares to which the offer related who had not accepted the offer could by a written communication to the offeror require it to acquire those Ordinary Shares. The offeror is required to give any Shareholder notice of his right to be bought out within one month of that right arising. The offeror may impose a time limit on the rights of the minority Shareholders to be bought out, but that period cannot end less than three months after the end of the acceptance period. If a Shareholder exercises his or her rights, the offeror is bound to acquire those Ordinary Shares on the terms of the offer or on such other terms as may be agreed

Squeeze-out Under the Companies Act, if a ‘‘takeover offer’’ (as defined in section 974 of the Companies Act) is made for the Company’s Ordinary Shares and the offeror were to acquire, or unconditionally contract to acquire, not less than 90 per cent. in value of the Ordinary Shares to which the offer relates (the ‘‘Offer Shares’’) and not less than 90 per cent. of the voting rights attached to the Offer Shares, within three months of the last day on which its offer can be accepted, it could acquire compulsorily the remaining 10 per cent. It would do so by sending a notice to outstanding Shareholders telling them that it will acquire compulsorily their Offer Shares and then, six weeks later, it would execute a transfer of the outstanding Offer Shares in its favour and pay the consideration to the Company, which would hold the consideration on trust for outstanding Shareholders. The consideration offered to the Shareholders whose Offer Shares are acquired compulsorily under the Companies Act must, in general, be the same as the consideration that was available under the takeover offer.

15. Mandatory Bids and Compulsory Acquisition Rules Relating to Shares Mandatory bids Subject to the Rule 9 Waiver, the City Code applies to the Company. Under the City Code, if an acquisition of interests in the Company’s Ordinary Shares were to increase the aggregate holding of an acquirer and persons acting in concert with it to an interest in the Company’s Ordinary Shares carrying 30 per cent. or more of the voting rights in the Company, the acquirer and, depending upon the circumstances, persons acting in concert with it, would be required (except with the consent of the Panel) to make a cash offer for the outstanding Ordinary Shares at a price not less than the highest price paid for interests in shares by the acquirer or persons acting in concert with it during the previous 12 months. A similar obligation to make such a mandatory offer would also arise on the acquisition of an interest in Ordinary Shares by a person holding (together with persons acting in concert with it) an interest in Ordinary Shares carrying between 30 and 50 per cent. of the voting rights in the Company if the effect of such acquisition were to increase that person’s percentage of the voting rights.

rights issue docs worth a read land assets around page 90 and buy out rule 9 and conditions aprox page 150 on

Mandatory Bids and Compulsory Acquisition Rules Relating to Shares Mandatory bids Subject to the Rule 9 Waiver, the City Code applies to the Company. Under the City Code, if an acquisition of interests in the Company’s Ordinary Shares were to increase the aggregate holding of an acquirer and persons acting in concert with it to an interest in the Company’s Ordinary Shares carrying 30 per cent. or more of the voting rights in the Company, the acquirer and, depending upon the circumstances, persons acting in concert with it, would be required (except with the consent of the Panel) to make a cash offer for the outstanding Ordinary Shares at a price not less than the highest price paid for interests in shares by the acquirer or persons acting in concert with it during the previous 12 months. A similar obligation to make such a mandatory offer would also arise on the acquisition of an interest in Ordinary Shares by a person holding (together with persons acting in concert with it) an interest in Ordinary Shares carrying between 30 and 50 per cent. of the voting rights in the Company if the effect of such acquisition were to increase that person’s percentage of the voting rights. Squeeze-out Under the Companies Act, if a ‘‘takeover offer’’ (as defined in section 974 of the Companies Act) is made for the Company’s Ordinary Shares and the offeror were to acquire, or unconditionally contract to acquire, not less than 90 per cent. in value of the Ordinary Shares to which the offer relates (the ‘‘Offer Shares’’) and not less than 90 per cent. of the voting rights attached to the Offer Shares, within three months of the last day on which its offer can be accepted, it could acquire compulsorily the remaining 10 per cent. It would do so by sending a notice to outstanding Shareholders telling them that it will acquire compulsorily their Offer Shares and then, six weeks later, it would execute a transfer of the outstanding Offer Shares in its favour and pay the consideration to the Company, which would hold the consideration on trust for outstanding Shareholders. The consideration offered to the Shareholders whose Offer Shares are acquired compulsorily under the Companies Act must, in general, be the same as the consideration that was available under the takeover offer. Sell-out The Companies Act also gives minority Shareholders a right to be bought out in certain circumstances by an offeror who has made a takeover offer. If a takeover offer related to all the Ordinary Shares and at any time before the end of the period within which the offer could be accepted the offeror held or had agreed to acquire not less than 90 per cent. of the Ordinary Shares to which the offer relates, any holder of Ordinary Shares to which the offer related who had not accepted the offer could by a written communication to the offeror require it to acquire those Ordinary Shares. T

Harworth Estates Group Overview The principal value in the Company now relates to its 24.9 per cent. stake in HEPGL, the parent company of the Harworth Estates Group. Harworth Estates Group is a property and development business, focusing on industrial and commercial properties. The property portfolio is largely former coalfield land and the intention is to seek long-term value through development. It is one of the largest landowners in the UK, owning and managing circa 30,000 acres of land across circa 200 sites. Harworth Estates Group has six divisions – Strategic Land, Major Developments, Business Parks, Natural Resources, Operations & Recycling and Legacy. There are three distinct drivers of value for Harworth Estates Group, which manifest in different ways for each of the divisions: . capital growth through promoting sites through the planning system, land sales, longer term leases in addition to improving service infrastructure and physical appearance of land and buildings to drive yield; . income generation through third party grant support as well as asset management to improve rental income; and . liability management through the proactive reduction of legacy liabilities associated with the land and mitigation and removal of development downsides using technical due diligence and brownfield expertise. Further information on the six divisions is set out below. Strategic Land Description: Growing value through beneficial planning consents and strategic development; Sites: 44 Land: 3,370 acres subject to planning, 8,000 plots and 550 acres of employment land Other: 26 overage sites with delivery partnerships Valuation:1 £58 million as at 29 December 2012

Morning , I have to ask where you get the 50p value from ?? hope it is correct but have you got a little confused between the Harworth value and Cress at 25% Harworth value