FYI; if there are no funds , the official receiver does it. That’s takes many years for obvious reasons. If there’s a bit of money but scrappy, enter division 2 boys aka Curtis or Grant Thornton etc. If tons of dosh , one of the big four land and milk it to fook. Potted history of insolvency - just as bent as AIM
They have to pay everyone the highest price they paid. The offer was so pee take, I think they are pYing the consequences, even little old me worked out in 10 mins what the value is to a competitor suitor - min £6m x appropriate p/e for a recurring rev and licence fee company . If HH want to retain their discretionary clients , I’d assume they’ll oppose - especially when those clients might do sums similar to me. If this goes for 10p I’ll eat something very nasty and I’ll have lost all faith in business being able to value anything cause valuing this is easy
Indeed - what should and does happen is to be seen. We are however, reaching a pivotal point - selling has dried up so peeps holding for 10p or more. Tree shakes won't work. And the market now has a base value that the offeror admitted can be increased. Peeps who previously went for a punt will be doing alot more research.
Who knows - it could HH [own account] changed to CC and HH [discretionary] remains. All I know if offering 9.8p for 500k just days after the offer means something is going on - its too high a bid. They know they can't go over 10 on the bid for vol as then the cats out of the bag, if not already.
Yep. They can do what they like with any assets - as long as its at arms length - i.e not selling to their mates. They must get approximate market value at the time or a valuation to support their actions