Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.
I believe we are also due news about future strategy and acquisitions, or does the very vague comments in the last RNS already cover that as far as GM is concerned?
I feel like we are being treated as mushrooms - ket in the dark!
I believe the awards are all made in cash not shares
The full details of entitlements were set out in the AIM Admission Document
I fully support the management being rewarded for their efforts, but I do think it is unfortunate that in the period leading up to the vesting date for the awards last year there was a regular drip feed of news including contracts and orders won
This undoubtedly helped elevate the SP, and the value of the awards were directly linked to the increase in SP since admission to AIM
Following the awards being secured the level of news put out by the BOD has most certainly decreased and the SP has unsurprisingly dropped heavily
The only balance to this is that some of GM’s award has obviously funded his lates share purchase so by his own actions he IS interested in the SP recovering
It just strikes me that their efforts don’t seem to be wholehearted
Tomcat
It’s really useful to see the actual numbers
My only comment though is that I am really puzzled as to why you believe 75% have to to vote yes for it to pass
I have pasted below the clause from the May 6th RNS
In particular, Bacanora Shareholders should note that the Offer, if made, would be conditional upon, among other things, the Scheme becoming unconditional and Effective (including its approval by a majority of Scheme Shareholders present and voting (in person or by proxy) representing 75 per cent. or more in the value of the Scheme Shares held by such Scheme Shareholders).
It seems clear to me reading this that, as suggested I believe by others, that votes from 75% of “Scheme Shares” are needed to make the vote valid or if you like “quorate”
Once that hurdle is passed, a “majority” in favour is required
In my view this means only more than 50% of the Scheme Shares, so long as at least 75% of them vote, is required by Ganfeng for them to win
The possible absurdity this raises is that if more than 25% of the Scheme Shares DO NOT VOTE at all then the whole process collapses; but so long as at least 75% of Scheme Shares DO VOTE, even if 49% of ALLVotes are against, the motion will pass
It seems that if this is correct the best policy for PIs may actually be not to vote at all!
I believe the Save BCN group believe they represent around 8% of the company which is around 11% of the Scheme Shares
I am reading the RNS announcement of the possible offer and trying to bottom out some of the raised queries:
“Court” is explained in DEFINITIONS right at the bottom of the document as
“the High Court of Justice in England and Wales”
Dee
Excellent to hear the reception you got - hopefully the BOD will accept their invite to make their case once a formal offer is tabled
Johnnychainlocker
That seems eminently sensible
Perhaps we should discuss here beforehand the key issues we need addressed in such questions - more than one way to get the same point across
The relevant bit from today’s article
“Bacanora last week issued a regulatory filing which included a warning from Takeover Panel rules about shareholders working together – so-called “concert parties”....
...However, City rules say that 30pc of the shares need to be controlled by a group for a concert party to exist.
A spokesman for Bacanora, which is developing a lithium mine in Mexico, said the clause in the filing was a “very standard clause in a takeover situation”.“
If the PIs held 30% I would expect the BOD to be a bit more concerned...
RNS on Feb 24th said:
“ In addition, we look forward to presenting exciting long-term plans for Novacyt during Q2 this year as we continue to define our strategy for delivering sustainable, long-term growth."
Hopefully this means that sometime before, or perhaps no later than, audited results are published there WILL be meaningful news which can boost the depressed SP
Johnnykipper
My understanding is the minimum price rule applies to a party who has previously bought shares only
If the takeover arose from someone who has not bought in the last 12 months they can offer what they wish
Fortuna
If you have managed to turn a profit following your own decisions then we’ll done, but frankly you deserve absolutely no regard from anyone as to how ******* clever you are when you clearly delight in pointing out what you see as the stupidity of others
Personally, I am like many a bit shocked after today, but I don’t believe that entitles you or anyone else to deride my decisions
It’s my money, my decisions, my call
Be decent enough to empathise if events have thrown a spanner in some people’s plans - gloating as you are, in my book puts your kind only one level above shorters...
and even plankton are above them
We are all invested by choice - all can opt to buy or sell - all can agree or disagree with opinions of others - but in my opinion you have no right to criticise the efforts others freely share - you can of course draw alternative conclusions, but at least respect others’ efforts (especially when their effort dwarfs your own)
Great to see you back ShaunP
Ref the recent comments about a price needing to be AT LEAST the highest price over the last 12 mths... I think this may be incorrect
I believe the rule states that the price must be at least as high has been paid in the last 12 mths BY THE OFFEROR OR PARTIES ACTING IN CONCERT WITH THEM...
Not been reading all the posts for a while...
Observing the ups and downs and personally still very optimistic of long term value
Have been helped massively by many posters but have seen that Shaun P appears to have stepped back
If this was due to personalised criticism of him by others I can’t blame him, but all of us will doubtless be the poorer without the research
Whether we believe it’s conclusions is down to us, but try making the detailed assessment without the back up data - you’re then on your own!
The BB world is full of people with their own objectives, including me, but we should all be polite and mature enough to not blame others for our own decisions
Thanks to all who share
Balanced you’re completely correct - LTIP was set up as Phantom Shares paid in 3 annual instalments - the amount GM will have earned will be several million £ (well deserved too) so the purchase today is great news for all LTHs and shows what GM thinks is a good use of a sizeable amount of his own money
Did it ever get confirmed whether the significant date was October 17th or November 1st?
If the date is Nov 1st then the bonus payment will be calculated by the closing price today
Might that mean some news may be forthcoming before 1630?
That is a really great thought
At the results declared Sept 17th the provision for bonus was stated as £4.173m
That equates to a share price differential of approx £2.76 from the placing price
Even at today’s depressed level from recent high the actual monies earned would be more like £11.1m, shared between GM and his co director, Anthony Dyer
GM’s share of approx £8.37m would certainly buy a lot of golden tickets
(And so well deserved too!)
Bad news I think... extract from article seems clear cut...
“... The qualifying criteria are somewhat opaque, but generally speaking the company can’t be listed elsewhere (such as on an overseas market) ...”