Member Info for general99

CN have only received just over 53% acceptance. Obviously POL not in gthe net yet.

DJ Caledon Resources Agrees 112P Cash Offer By GRAM >CDN.LN Article text may be cut off to the right. Click to view article in a new window. LONDON (Dow Jones)--Caledon Resources PLC (CDN.LN), a coking coal producer and explorer in the Bowen Basin of Queensland, Australia, said Thursday that it and Guangdong Rising (Australia) Pty Ltd, or Bidco--a wholly-owned indirect subsidiary of Guangdong Rising Assets Management Co., Ltd, or GRAM--have reached agreement on the terms of a recommended cash acquisition of Caledon by Bidco at 112 pence cash for each share. MAIN FACTS: -Offer price values Caledon at GBP313.1 million and represents a premium of 34% to the closing price of Caledon shares of 83.75 pence on Nov. 5, 2010 and 53% to the volume weighted average price of Caledon shares on AIM for the 20-trading day period ending on Nov. 5 of 73.16 pence. -Offer will be effected by way of a scheme of arrangement under sections 895 to 899 of the Act. -It is expected that scheme will become effective and the acquisition completed by the end of August. -GRAM is a state-owned enterprise in China, supervised by the State-owned Assets Supervision and Administration Commission of Guangdong Provincial People's Government; It is a Chinese investment group, with investments in a range of listed and unlisted entities across a wide range of sectors. -In total Bidco has received undertakings to vote, letters of intent to vote, and letters of intent to use their reasonable endeavors to persuade or request the corresponding beneficial holder to vote, in favor of the Scheme at the Court Meeting and the resolution to be proposed at the Caledon General Meeting in respect of a total of 149.61 million Caledon shares, or 53.52%. -Caledon shares closed Wednesday at 109 pence valuing the company at GBP304.7 million. -By Ian Walker, Dow Jones Newswires; 44-20-7842-9296; ian.walker@dowjones.com

After long considerationa and the fact a good profit waiting to be had I've sold. POL directors buying lately seems to indicate that this deal is in the bag. I don't think it will be a above 112p. Recent events in commodities (particularly coal) have seen large falls (CZA as an unhappy example as I hold them too!). There seems to be a lot of coal about! Anyway I hold POL shares so will get some rubb off there.GLA

The delay in completion of CDN T/O could - IMO - be POL playing hardball for a an increase in the offer; based on large rise in world coking coal price and increase in CDN reserves. Seems to be taking a tad long for the Chinese government approval to come through. What's the bet on 125p per share offer? Whilst POL is investing in coal exploration in Indonesia and Iron Ore in South America - seems silly to sell one mine cheap simply to aquire another.

Tick-up in sp in anticipation.

This is a quality share with good upside potential in the near term.

Showing 50% drop in sp to50.50p. Checking on Barx sp 101p. Hope Barx is right!!!!

I am out of HFD at moment; having bought in November on weakness 399p and sold on strength at 440p. Am considering getting back in as HFD is a strong company with good management and cashflow. However retail sector is out of vogue at moment, However HFD is more than just a shop as it has expanded its Nationwide Autocentres which are very profitable; Tesco and B & Q can't match them on that! Most brokers have them as a Buy or Hold at the current sp.

RNS is simply formalisation of 13th January RNS. However the clear plus factors behind it are: 1) POL did not have to convert loan into equity.They were earning 10% pa on a loan of approx £16.5m. They have done this to realise a marginal 24% profit on thses placement shares on T/O. 2) The additional approx 2% increase in CDN holding to 29.9% had no marginal impact on effective control of CDN 3) The actual value of CDN per share is well north of 90p. If ever there was a clear signpost 'To the Treasure' this is one. Unless the chinese pull out this T/O is on!

POL - IMO - would not have accepted 112p T/O bid sp.

I think POLO have played a blinder. They would not have acccepted - IMO - less than 112p prior to placement. The chinese would have had to repay the POLO loan on T/O as per the terms of the loan. In effect if the T/O goes ahead at 112p they are only paying a premium on the placement shares. Polo gets a reasonable exit price. Everybody happy!

RNS:http://www.hemscott.com/servlet/HsSession?context=premium&path=news&service=getNewsByKey&item=125511829301042&channel=companies&companyid=4137. Increased holding above 4%. As I have oft stated here - IMO - take over (if it goes ahead) will be post 120sp

If you held 10 shares yesterday you will now have 5 shares.

SP has simply been adjusted for consolodation which happened this morning.

This could drag on for some time. I suspect a number of shareholders are waiting to see direction from POL.

Looks like shorts' covering positions.

From FT concerning WTN and Vallar. IMO there is no way they will sell at £1.12.http://www.ft.com/cms/s/0/34b7fb54-f2f4-11df-9514-00144feab49a.html#axzz15kO6G8up

The bid is for $11.50cdn in cash and shares from Walter Energy - which is £7.05 per share . the share element will always be at a discount - so - IMO - not much further uplift on current sp - maybe 3 - 4% max.

if company is going to be sold it will be for more than £1.12. IMO think offer will go to £1.25. So have bought on that. Polo will decide this and I imagine Dattels & Co will be pushing for that premium to offer.

In the event I receive any responses that I think may be useful I will post them here - that after all is the point of these baords - not platforms for broken clocks. Adios!