Member Info for FreeTheCaterham7

Even though I'm doing it, it makes little sense to hang on post collapse if you wouldn't buy them here . It's easy to fall into these psychological traps

Is it still going? Crikey.

No one cares about the Renault 5.

But buy and sell only have any meaning if the MM took the trade on without already having the other side. This is big enough to make that unlikely, so it looks like one investor sold them and another investor bought them. Could the volume in the US be connected?

Or,a sell

Hello Contrarian123
I have reasonable faith in the management…. And if they mess up/move too slowly they have access to heavyweight expertise among their shareholders who, I am sure, will protect their investment by offering that expertise. Whether JM wants it or not……
I agree that might be a moderate patience issue if there are material delays, but I am encouraged by recent price action. Looks there might be some 7p holders from the placing who were hoping for a quick turn, who might take some time to work through, but it feels to me as though there is a small amount of FOMO building amongst buyers

"I'm not sure why the mm's would take so many above the bid unless they already have a buyer."

I guess this is rhetorical but in case it's not, I can assure you they wouldn't.

"As I said in the past this company and its SP are one bad RNS away from a minor capitulation"
You mean, the price will fall if there's bad news?
That's not a new insight.

I don't think we will be 7p until mid 2024, then suddenly spring up to 25p in a single bound....but my AIM learning curve has taught me that AIM investors can be impatient. Isuspect we will drift gently upwards (which hardly ever happens) for a year and might see some excitement build in from the middle of '23

@pickedpeck
The reaction is muted because a) nobody really had an idea what numbers were expected, b) it doesn't really matter what numbers are reported anyway because this all about a giant pot of jam tomorrow (well in 2-3 years), and c) there was nothing new in the statement

What is so great about them?

" it would be a baffling strategy from Polygon."
Yes, I agree. they wouldn't have been buying arfter the Sprinter results unless they saw potential for something positive in the future.
What if that thing was ACTIV-2 P3?

"the Polygon stake may hold the base price around 25p +-10% for a few weeks."

The Polygon stake by itself won’t do anything to hold the share price. If anything, by reducing the free float it marginally adds volatility. . An increase or a decrease in the Polygon stake might have a dramatic effect, of course.
If they start selling we are buttered…….

@LimaLiam said…"It's clearly stated that in the case of going over 30% it is the highest price paid for any share in the last 12 months. It's not the highest price the buyer paid."

This is wrong. Look at rule 9. (5)
"An offer made under Rule 9 must, in respect of each class of share capital involved, be in cash or be accompanied by a cash alternative at not less than the highest price PAID BY THE OFFEROR or any person acting in concert with it for any interest in shares of that class during the 12 months prior to the announcement of that offer."

@Tattyhead
General principle 1 (1) of the Takeover Code…
1. (1)
All holders of the securities of an offeree company of the same class must be afforded equivalent treatment.

So your scenario would fall foul of that principle

Don't shout at me....is that the cost of the DFS?

Hints and nudges don’t amount to much when the actual trial fails to prove efficacy

@LimaLiam said - "But they do have to offer all shareholders the 12 month high, which personally I'd be taking."

Takeover code Rule 9.5 says…"An offer made under Rule 9 must, in respect of each class of share capital involved, be in cash or be accompanied by a cash alternative at not less than the highest price paid BY THE OFFEROR or any person acting in concert with it for any interest in shares of that class during the 12 months prior to the announcement of that offer."
If Poly go over 30% and trigger a mandatory bid the minimum they have to bid is the highest price they have paid in the last year, not the market high.

Manny
If a shareholder went over 30% they do indeed have to bid, but the minimum price they have to bid is the highest price that THEY have paid over the last 12 months, not the highest price that anyone has paid.

Where do you get this 75% thing from? If over 50% accept a bid, control passes to the bidder.

@Alpha-dog asked - "Am I correct in saying forced sale would require TO company to acquire 90% if stock and pay highest 12 month price?"
A bidder can only force you to sell if they have acquired 90% of the company. But a bid can be at any level. If, for example, BigPharma Inc. bid 50p, and Poly accepted, and enough other shareholders accepted to get BigPharma over 50%, BigPharma would have control, and the bid would go unconditional as to acceptances. If BigPharma then got over 90% they could sweep you up at 50p.