Member Info for johnson36

Pearls

Quote:

Talk of an administration is also pointless in my view as there’s no way MA is going to wave goodbye to his 30% stake and stand in a queue with other interested bidders! You must be having a laugh about this, surely?

Where are these bidders now ? how many shares do they have ?

Slaveone1

Mike owns 29.7%, first buy I think was about 80p and the last ones early 2018 about 25p.
What % do the BOD own each ?
How many shares have any of the BOD bought while the prices have been sub 10p and even down to 2p recentley ? If they think they can turn Debenhams around then why aren't they buying shares in the company that they control ?

Slaveone1

So he wants to own 34.7% but not play by the current rules ? This is more of a mess than Brexit.

http://www.thetakeoverpanel.org.uk/the-code/download-code

If he loans £150 million to Debenhams and they give him 5% of shares that will put him over 30% so will he then have to make a bid to buy the rest ?

aa888

it means some people also bought 7 million shares

If he buys a small amount of shares that takes him from 29.7% to over 30% does he have to make a bis at the 12 month high share price ? If so why ? can he not just keep buying shares on the open market to get past 50%

Pearls

What % of Debs shares does MA need to own to make a hostile bid ? is there a lower limit on the bid amount ?

Well what ever that logical reason for the drop was it has gone now. SP up 4.2% as I write this, a gain of 92p

Is he free to bid any amount ?

at the time of writting this PSN is down 2.4% but Barratt only 0.2% and TW only 0.36%. I have no idea why but I am happy to keep buying them

https://www.proactiveinvestors.co.uk/companies/news/215716/sports-direct-makes-140mln-bid-for-online-discount-retailer-findel-215716.html

Pearls

Some one said yesterday that after 12 months from MA last purchase he can bid whatever price he wants, is that correct ? he is now just past 12 months and in 1 more week will be out of the 6 month bo bid period.

https://www.chroniclelive.co.uk/business/business-news/mike-ashley-buys-more-debenhams-14359489

RealisticView

But MA bought HOF out of administration. Debs isn't in administration. The fact that he is trying to get on the BOD makes me think that he thinks it is not likely to go into administration soon.

Yes I did know that Bruce.

WorldGoRound

I bet price stays exactly the same tomorrow. lol

I don't think this rule applies to MA as he only has 29.7%

http://www.thetakeoverpanel.org.uk/the-code/download-code

The following is a brief summary of some of the most important Rules:

When a person or group acquires interests in shares carrying 30% or more of the voting rights of a company, they must make a cash offer to all other shareholders at the highest price paid in the 12 months before the offer was announced (30% of the voting rights of a company is treated by the Code as the level at which effective control is obtained).

RogueRiver

Sorry i didn't read all your post.
When is the 12 month expiry since MA last purchase ?

RogueRiver

He can't make an offer less than a 12 month high

Am i right in thinking that most of us hold shares in a nominee account and we don't get to vote on anything. My account is with HSBC.