Member Info for Matthew125

I suppose he would suggest that the 42p deal doesn't go through, for whatever reason, and the shares drop in value?

Company is still way undervalued. If anything changed with the deal, price would likely be stronger but heyho.

Look at the deadline extensions like this. It gives folks a chance to withdraw their acceptance and get their shares out of escrow! It would be funny if acceptances slipped lower because of this! :D

Yes Foz and @john 75% is a legal requirement to delist.

'My heart says hold out, my head says accept.' Why?

Even if over 75% to 90%. These folks could end up with a better offer in a year or 2, once the weak hands have accepted and the legal period where all offers have to be increased has elapsed. I think Ganfeng want full control here and if it takes them a couple of years more to get that then they will wait. I do not think that they will rest on their laurels and not develop this site quickly, it is just too important in order to hit their production targets. So I am not sure that your head is correct.

I am a bit puzzled as to why people are still to-ing to fro-ing on whether to accept the same offer (made for the 3rd time now) or not. I would have thought that most would have decided by now. It is almost as puzzling as to why posters who have long exited a position here or decided to accept keep coming back to talk the share down?

It's a lesson. Seeing some of the numbers of the losses, I think a few people had way too much invested here. It was always speculative on this 374m contract going forward and I have to admit I started to think that it was a sure thing too! I only had 2% of my portfolio invested here, still down 4.5k and a lost never feels good. Could bounce back in a couple of years. Lesson for me is never to trust government when speculating.

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?