Member Info for oldspursfan

SteJ
Thinking more tug of war with a firing rocket? Amusing image if nothing else...

Much as I would love to, I can't argue with you there Pete, good luck in the final.

At least we almost turned up last night, which made a change from the first leg. Major overhaul needed, so good to see Spurs being linked with everyone and every possible transfer again. Reminds me of Harry Redknapp and car windows!

CTC Not sure if it's true or just repeated so often it's now folklore.

It strikes me TW wants this to fail only so he can say he was right all along, even though he's been saying short it since about 2p, maybe even lower, which history shows would have been a very costly mistake.

I don't know what the opposite of "trying to catch a falling knife" is but it certainly applies to him (and certain ADVFN posters).

GLA - flat, but a good flat (we're now UT-ing at the Bid price, not the Ask).

Think anyone looking to taking TW's advice seriously needs to read the disclaimer - he holds no position, has no plans to take one in the next 72 hours.

So we're a strong sell, apparently, but not so strong he's willing to risk putting his money where his mouth is. Only happy to risk his followers' money, much like OilMan Jim.

He has no position, so we have no interest in what he has to say.

cgm - if your ISA account is to be set up with the same broker as the trading account you want to move £20k worth of shares from, then ask them to do a Bed and ISA - time difference between selling from one and buying in the other will be negligible (couple of mins at most, though cost is a little bit more).

If they are separate brokers, and you are looking to sell £20k worth of shares, wait 2 days for the trade to settle, withdraw to bank, wait for cash to arrive, then put cash in the ISA and buy, then if a suspension happens in between you will be locked out and won't be able to buy until trading resumes.
Hope this helps.

So for every cloud, there's a darker cloud somewhere else.

Genius!

Hey Bob - no problem mate, I too think they have a very good idea of the sorts of figures they envisage.

I feel it's getting a bit like Catchphrase with all the surrounding squares going when it's the middle that will solve the riddle!!

Come on Bod, give us the middle square!

Hi BoB
You'll see in my posting history that, if and when we get a Notice of General Meeting and sale circular, it won't at that point include dividend amount and ex div/ record dates.

All we will get given is what we have to vote on - what's going, who to and the sale amount. I expect a holding statement that paying a dividend from the net proceeds will be part of what the BoD intend to do, if the sale is approved, but the details I expect will follow shortly after the GM is held/approval gained.

Actually "shortly" - a week or so.

Been around long enough to know Mac's MO Bill!

Just pointing out that a policy aimed at articulating how they would go about agreeing a dividend, were one to become a possibility (I.e. the Policy), is not the same as they are currently doing it, right now (quote: "They're preparing and calculating the dividend")

I'm sure he knows that really.

Mac I'm supportive of you generally, but come on, even by your standards that is close to the wind.

There is absolutely nothing written in the dividend policy that says a sale is going to happen, in any given timeframe, and all the BoD needs to do is the act of "preparing and calculating" it. It's a framework document that outlines what the Board would work to, in the event a dividend becomes possible (and even then, that 80% figure is a "target" so not a guarantee). And that's all it is.

I don't mind people putting 2 and 2 and coming up with an imminent sale, but one thing I'm confident the Board are not doing right now is preparing and calculating the dividend. If they are, then someone needs to have quiet word in their shell-like, that they have yet to issue the sales documents for a vote...!
GLA

Morning. Caught up and wish to add my condolences to the fellow PIs. Such sobering posts should give the weekend bots pause before they try to earn their 10 pences, sadly don't think they will.

Jonmo - good entry but you need to substitute "dividend" for "sale price for what is going", then it makes sense.

Any dividend will be a subset of the sale price, but the sale price is the full asset value that will be realised (cash in the bank), so is what will be refected in the SP, when the sale is announced (and GM/circular as needed). Then, when paid, the divi amount will be deducted from this revised SP on the ex dividend date.

Cheers and good weekend all.

Hi Mark - it's not naive so much as totally unnecessary - companies are obliged to keep trading open unless in extremis and the general meeting approval process would require suspending for a fortnight, then if it's post dividend before you want them to come back, you need to allow a few more weeks for signatures, monies to move, dividend to be agreed communicated and paid.

If it's just burning shorters you want, it's far easier for any suspension to be pending sale announcement, slap how much is being offered subject to GM/vote to, then resume and the Market has to reflect the sale price/ valuation. Destination Jub City

...wtf? Popped, lol
Been saving that typo for weeks! Feel much better now! GLA

Evening all and HNY.
Just pooped in to say I agree with Mr Y Fronts.

Part of the circular information that must be sent to shareholders in advance of a general meeting is the investment strategy/ use of sale proceeds.

It strikes me that the entire wave of rns's issued whilst we are waiting on our potential buyer finalising an offer spells out what that future strategy is.

It may well be a form of convoluted tri-partite hive-off such that GFD dreamt up back in the day. I prefer simpler options: pay out some in the form of a divi and keep the rest to get surrounding licenses and this H-project off the ground.

Stork
"there will never be a sale at close to the current mcap"

If it was a lot lower it puts a lie to the "trigger rule 15" and "significant dividend" statements that have been rns and passed nomad review.

So I can only assume you have joined the longs finally!

£1+ a share, is indeed nowhere near the current mcap. So welcome aboard...

...more like an anti-Macser.

There's me coat...

Stork
I think given your stated position and complete non-acceptance of any positive outcome from the sale discussions, your post applies just s much to you as anyone else.

"Burying one's head in the sand and simply filtering out/abusing opposing views is a lot easier than actually engaging in critical thinking."

Trifle: the Yorkshireman's weapon of choice...

I do think this may have made the JV a bit more valuable to a would be purchaser. Definitely a bit more than $500k value sitting there now.

Interesting rns.

Anyone else wondering if this binding agreement is transferable? Whilst current owner...

Can we now start having updates we are expecting please? Starting from tomorrow ideally...