Member Info for johnpwh

Thats a bit of a leap tomcat. Lets see if there is a dreaded Friday RNS. No one likes a Friday RNS!

Don't know jam
We are all just guessing

Maybe Mr C.
I'm always out on a Thursday, so I came back in expecting drama. And found none!

Hi jam
Well the update hasnt arrived, though BCN/ GF do seem to be Kings of the post market close RNS so it may turn up in a minute!!

Hi Jam
Well officially I dont think we are expecting an update tomorrow but if they have reached 50% I think we will hear nonetheless.
That one 70p trade was a bit dodgy as its shown on few shares. With question mark over the Anti Trust plus the inevitable delay until settlement if the bid does succeed, a price of 70p when the value of the bid is around 72/3p seems unlikely

Not being rude IG but probably best to read over the many posts on this board to find out what happens if you don't accept but the offer is unconditional.
There are several outcomes, you will only be forced to sell if the acceptances reach 90%.

Yes, you didn't vote what you thought you were voting for.
There was a vote about whether to allow payment of dividends. You could vote for and against that, so I expect that is what you did.
This latest vote is an offer to acquire your shares if you want to sell them. There is only opportunity to accept, no opportunity to reject. If you don't want to sell your shares if the offer goes unconditional then its simple. Don't vote

Not sure anyone has a clue what is going on and why. We are all just putting a spin on things to back our own theories/ wants!
Do we expect another update on acceptances this week despite the suspension of the timetable?

What's happened?

No arguments with that CM, in fact though I haven't jumped yet I suspect you may be right to do what you have done. With the SP equal to the cash part of the bid all we are doing is hanging around for the ZNWD shares. If it ever happens.
Probably like you, and several others here if not all, I don't really want to be in BCN anymore with its dominant partner and spineless self interested board.

I'm not going to argue against your points.
The extent of GF influence, even the bid fails, would worry me as a continuing S/H. This isn't an investment in a business for GF, they want one thing and one thing only - the product. That means it seems BCN is unlikely to be run to maximise return to shareholders. All in my opinion

I think if the bid fails due to Mexican government failure to give anti trust clearance then initially there would be downwards pressure in the SP as it may be seen as a potential hard line approach in this nationalisation issue. But the Li commodity price rise since this process started has been so extreme that such a dip would be short lived, as it is (hopefully) doubtful that Mexico will dare to be too hard on what is still a heavily Chinese influenced venture (nearly 65% direct and indirect).

I see a waning of enthusiasm for the subject as evidenced by the lack of posts here!
As expressed before I think that with M&G capitulation, the forcing or nominees to declare their acceptances in just over a week, fears of being trapped in a private company with the attendant problems for ISA and SIPP holders, I would be surprised if acceptances don't reach 50% and be made unconditional (subject to anti trust, I haven't voted by the way).
Of course as you say CM, the Mexican Government can block this, but I think this is the only hope.

No Matthew I didn't take it that way at all.
I knew that you would have realised but posted it in case anyone else was unaware, as its obviously it may be an important factor when people consider whether to accept.
And I agree that the pressure being applied by the BOD and clarity of the RNSs leave a great deal to be desired.

Hi chaps/ chapesses
As I have said previously I finally heard from iWeb. Once they sent one corporate action they really got into the swing of things and sent a second.
I was going to send a copy of the second but, a bit like Mission Impossible, now read its seems to have self destructed. The content of the message was along these lines:
'As part of the offer by GF there is a possible distribution of ZNWD shares. Previous RNSs by BCN haven't sufficiently explicitly made it clear that if a distribution of ZNWD shares is made then this distribution will be made to ALL BCN S/Hs not just those accepting the offer. If you have already indicated your acceptance but now wish to withdraw that acceptance then that is possible by contacting the broker that you sent the acceptance to.'

I think we pretty much all knew this since the ZNWD share distribution is a type of dividend, which as a dividend is never (as far as I am aware) ever distributed to a subset of S/Hs. But as they say, I thought you should know,

Same sentiment Tony
Happy Christmas!!
John

All the best Stranger, I enjoyed your contributions. I have looked at the MGs myself. Good value. Kind of agree with Mr C that they aren't MGs - probably built too well!!

Quite a tidy rise over the past month

......prices continue their daily climb. The deal for GF gets better by the day

I did a back of the envelope calculation (believe it or not it actually was on the back of an envelope) and thought it was a few more than just the M&G holding. But please don't trust me because I've got a maths degree so almost all calculations i do are wrong!