Member Info for CR888

At 620 p … with pound 125 instead of 140 then effective price maybe 560 p way too low for sure , room for 30 per cent more around 800 p at least

Therefore an alternate bid , likely to come by June 7 th ie one week around before the Vote

Most people seem out

My guess is the Scheme document will be out by end of next week , so by the 22 May let’s say , then 21 days to the vote so let’s say Vite by June 12/14

In meantime will another bidder come , or will the vote be No , my guess is a no vote

I agree the vote is 4 to 5 weeks away

And then maybe 2 months to approve by regulators

The key for me is what happens up until the vote and the vote , just 5 weeks

No one seems to care, so I assume most have sold out

Seems like we have some uncertainty on the 75 per cent of those who vote , I will vote No in the hope of higher price , interest the board members shares are not committed to vote yes .

Expect some fireworks and a big bang before Dark goes !

Does anyone still hold shares of Dark ? If so why ? :)

I still do ! Why , because hopeful of higher bid !

Scheme document to come out soon (e.g. 1-2 weeks)

Then shareholders have 21 days to vote on the offer

On the 21st day there is a scheme meeting, and if the offer is voted yes (by 75% of the shares that decided to vote) that concludes the process and no other bidders can come in.

The board members, and KKR (7%) and Summit (4%) have committed their shares. If another bidder comes in before the scheme meeting these committed shares lapse and everyone has to vote on the new offer.

After the scheme meeting (in circa 1-2 weeks + 21 days) it will likely take a few months to have it all approved by regulators

Has the timeline been announced for vote etc ?

Good posts everyone- yes the discount is partly because people sell out early and put the cash into other investments due to long time to wait

I sold my spare shares of Dark and already made up to 10 % in a few China funds listed in Uk .. I could switch back to Dark if I feel there will be another bid , but no sign yet , and accept I will miss the boat if it happens

My main holding of dark is still being held in the “ hope “ of a higher bid coming somehow - either if current shareholders vote no to 620 p or if smother entity bids ..

No guarantee but worth the wait

As for exchange rate I see that as a minor point , Uk interest rates are likely to drop first in Summer so pound on the weak side versus USD , do in fact I am fairly sure we will get around 620 p

Thinking of it Thoma Bravo are not only buying at cheap price 620 p but also the pound is relatively weak so normally pound is 140 /150 cent to the pound but they are getting 10 per cent cheaper and a year later after Usdollar drops then their Uk asset rises by 10 per cent with them doing nothing , so honestly it’s easy for another bidder to justify coming in ,

Uk stock market rising too !

I will bet a bottle of red wine 🍷 to myself another bid at higher price will come

The Hangseng is going up and if I knew if and when another bid for Dark could happen , I would have switched. Before the next bid , out and in just before next bid

It could happen anytime , if and when

Pound could go weaker versus dollar

Switching out of Dark can work , I switch out some to china funds and the china/ hk has been going up

I did sell a few above 620 at 620.4 p but those were my spare shares

Only if you believe a higher bid will come ! Stay in a bit

Maybe if there is a higher offer - those still holding Dark might be in the mood for a beer :):)

I will be in Uk around 16 June for a week or so including in London , perhaps Sheltie and others could suggest a good place and time to meet for a beer in say London , HKK , and as many oldtimer and new Dark holders ! Even those who sold out of course welcome - it’s over to someone else to arrange if possible around June 16 to June 30

I have learnt my lesson from last year - certainly TB might just buy Dark for 620 p

The Times newspaper says hold which is strange unless at least a small probability of higher bid

Are you willing to bet a bottle of Red wine at 10 pounds a bottle that there will be no higher bid ?

Yeah my apologies about that :):)

Yes some are selling out for sure

The mystery is whether there will a new buyer coming in like a white knight on their horse

AI investor - I defer to you and your wisdom on this one

God bless you !

My gut feel - another bid at around 690 p only and then TB offer 750 p and we are out !

Still 750 p better than 620 p , although 850 patil possible , never say never