Our latest Investing Matters Podcast episode with QuotedData's Edward Marten has just been released. Listen here.
Probably getting close to fair value for the core bussiness. If there is no covid test production for the Gov, I wouldn't say oversold as of yet. Bottom may not be in yet and chartwise we could see as low as 16p where there should be strong support. I will probably baghold (as I have a bad habit of doing!) and sell in a year or 2! Core bussiness seems reasonable and most of the operating loss appears to be from this waiting around for the government to do something which I don't think they will now. Moving forward, if they cut the dead wood and focus on growth in areas where they are not waiting around for approval a 50m market cap starts to look sustainable and probably even cheap.
Haha. What's a TV?! I've not had one for years! It is probably why I am such an uninformed person. ROFL ;)
Still rather be uninformed than misinformed. ;P
*Bob not Bod!
Maybe Bob is PS! This tread just seems like a sh*t throwing tantrum due to the deal not going to the BoDs game plan. I don't believe Bod is invested here so unless they are a company troll, their accusations of unfair practice or dare I say fraud, seem frivolous.
Bob, I'm going to have to filter you again. You seem like a nasty person (are you PS?). There is nothing wrong with shareholders holding out for a better deal.
Good work Dee!
'until these clowns sort themselves out,'
Yep, the whole offer was a joke but it has been made worst with this latest delay. It not like Ganfeng were in a rush approve the offer in the first place. Seems like sheer incompetence or possibly hubris. As Jam says, you should be able to get your shares out of escrow if you just contact your broker and withdraw your acceptance. Then sell on the open market if you are keen to get your cash. I wonder if siturations like this could actually cause accepentances to go down on the next RNS?
I said 9p. But I never said when! ;P
@john Yep, nothing is in plain English about this scheme/takeover! That's kind of why almost nothing would surprise me here now, even using the Mexican situration to can the offer. It makes me wonder if this Mexican hold-on has been artificially manufactured just to delay and bore people into submission. Seems more like incompetent or weakness to me. The simple action to take is just to say no until they decide to play fair.
'If they pay more than the offer on open market, don't they have to pay the difference to those who accepted the offer?'
Not if they wait 12 months before buying any more.
It's a slight of hand! ZNWD shares are being distributed as a dividend so ALL shareholders will get them, if they take the offer or not. The amount offered for your BCN shares minus the ZNWD shares which are already yours via ownership of BCN is 67.5p. An awful offer which I will not be accepting.
@ Tomcat Apparently, we are in day 28 limbo...
@Foz Well, after a failed takeover bid, the same company cannot make another takeover offer again for at least 12 months. Not sure how this rule would relate to this scheme though. I also can't see any reason why Ganfeng couldn't continue to buy on the open market, pushing the price up, to get towards the 75%. Thoughts?
Discuss.
Normally I would use as a sign that there is more downside to come but this seemed great value at 1.5p. Getting to bargin basement levels now!
Yep.
Did you sell any of your pervious holding or have been holding throughout?
@mrcautious Would you care to divulge the main thrust of your correspondence?
It's a sign of desperation on the part of the BoD! If it wasn't for the suspension , the offer would be unconditional and we would be getting our ZNWD shares (remember you get them if you take the offer or not ;) ). And if you were still holding, a great potential for higher returns in a year or 2!
I wonder if there is still no take up of this, if they will make the same offer again and again and...... Most people by now have seen this offer and decided if they would take it or not.
@Bob No, but the reverse is also true, if stage 1 is complete and the company is producting positve cashflow, the terms of raising equity through debt may well be better.
Oh damn, you what you made me do. I had to turn the filter off for Bob to see what he's been saying!
*In the voice of Comic Book Guy* - Worst takeover ever!