Member Info for cautionyourblast

Thank you, Ross. This is clearly highly significant. Personally, I wouldn't be very upset if the deal didn't go through and we just went back to the the pre-bid operational situation. Sadly, once the cat is out of the bag on these things, that hardly ever happens.

Perfect summary, Colonel.
So, everyone: (1) hold your shares; (2) make sure you vote when (or if) the paperwork lands.

Yes, it’s worth it: willec. Please hold on and vote!

They need 75% of the vote for it to carry. Our little positions matter! ;-)

Vote
....please!

There is still a chance to defeat this.

Thanks for all the responses so far. I’m sure there’ll be many others who won’t be on the bulletin boards and some Institutionals who will vote down this deal.

Please do contact your broker when the papers come through and please vote! I’ve found it to be pretty easy before.
Best wishes, all

(PS, as other have mentioned, maybe a counter-bid arrives next week and we avoid a vote for now, but I’m not holding my breath.)

My 3.6m shares vote against....
My friend’s 2.5m will too.

Thanks, spyburn: good of you!
By the time the vote comes around I’d expect the “irrevocables” and GeoPark will have at least 40% between them. Then we need all the dissenting PIs and Institutionals to be at least 13.5% of all shares in order to defeat the proposal. Perhaps this is stating the obvious. It’s tough, but not impossible to vote this down, but I take gettingpoorer’s point.
Please do vote, everyone.

Well said, leas. I do hope you get your assets released very soon.

https://www.morningstar.com/stocks/xlon/amer/ownership

Some of this lot (unless they represent myriad PIs) must be prepared to vote against.

...so we need 10% to call a poll for a resolution. I can muster about 0.6%: me and a pal.
Anyone?

From Thomson Reuters web page:
https://uk.practicallaw.thomsonreuters.com/5-613-3685?transitionType=Default&contextData=(sc.Default)&firstPage=true&bhcp=1

“Minority shareholders' rights vary depending on the percentage of shares/voting rights they hold in the company, as follows:
At least 5%: right to:
apply to court to prevent the conversion of a public company into a private company;
call a general meeting;
require the circulation of a written resolution to shareholders (in private companies); and
require the passing of a resolution at an annual general meeting (AGM) of a public company.
At least 10%: right to call for a poll vote on a resolution.
More than 10%: right to prevent a meeting being held on short notice (in private companies).
15%: right to apply to the court to cancel a variation of class rights, provided such shareholders did not consent to, or vote in favour of, the variation.
More than 25%: right to prevent the passing of a special resolution.”

...to put forward a special resolution for the removal of the BoD? I would genuinely put myself forward for the CFO role.

Thanks, jansonb. I’m very surprised if the Elcrest RNS has affected the price. I’d buy some myself if it wasn’t tied up in other things (AMER and PDL for instance!): this looks like an easy few percent profit.

Please, let’s all vote on this. I’m certainly voting against. It would be great to get it voted down but it would need a lot of us and some institutions...

166p recommended offer and suddenly we’re back at 155p. What’s going on? Is there doubt over the deal suddenly?
I’m genuinely confused...

These are lessons for me for future investments. May be for some others too...
(1) a bottom-up analysis of a portfolio is important, but does not necessarily apply very well when a sale is being forced (for whatever reason)
(2) on a small cap, never underestimate the power of the wishes of a board of directors and a few large shareholders, even if you consider them illogical.
(3) poor management communication may well just mean poor management.
(4) assets are only purchased for what someone is prepared to pay at that time. I always knew this one and mentioned it before, but it’s good to remind myself.
(5) ignore aggressive people on bulletin boards who are not prepared to see both sides of a debate (obvious, but worth repeating).

Actually, thinking about it: I can’t see anything much standing in the way... :-(

I hadn’t read the full RNS earlier: I have now and see that Michinoko are on side. Given nearly 24% of all shares are in favour of the deal (all of whom will vote) and 75% of those shares which do actually vote are required, is this stoppable? Answer is yes, but it looks pretty remote. I’ll vote against, just for the record.

At these prices, Michinoko could even have a go for a buy-and-break-up with a bit of debt. I wonder if Coller Capital has considered it.

Perhaps Michi has already tacitly approved the Geo bid. Hmmm.