Member Info for Pianista

The directors have shamelessly suckered us in and should be disqualified.

Mitch - according to the article, only the expenses point has been dropped. All other claims are still outstanding and a verdict is expected "end Jan/ early Feb", so the case is very much alive.

On reflection, Mr T's significant £40m holding in Stobart worth c£40m, as against his relatively small £800k holding in Flybe muddies the waters somewhat.

Because the value of his holding in Stobart went up by c£3m on Friday due to the perception that they were getting Flybe for next to nothing.

So unless he has ambitious plans, with others maybe, to launch his own bid, or expects counter bids to come in at say 20p+, it's in his purely financial interest to ensure that the deal goes through, and to vote his shares in favour of the deal, not against.

Who's to say he's not working with Stobart, therefore, instead of against them, perhaps in return for Stobart's dropping the charges against him.

The plot thickens....

The $64,000 question!

The Flybe/Virgin/Stobart conspirators seem to have slipped up: they failed to second-guess this move by Mr T.

A "source" has said he is not out to "disrupt" the deal. However, he's embroiled in an acrimonious court battle with Stobart, so if I were he, I would take great delight in doing so!

Either: he thinks - and knows, given the earlier Stobart bid - that the current bid is lousy and is bound to be increased somehow. However, although it has cost him £800k so far, this is chicken feed to him: he's worth £40m+ (owns 7.7% of Stobart); so making a profit from his holding may not be his prime motivation.

Or: he wants to extract some concessions in his court battle with Stobart by threatening to vote against the deal.

Or both.

Maybe the Sunday papers will throw some light on this?

Nothing to explain. We get 1p from the buyer if/when the whole scheme is approved. What happens after that is of no interest to us.

Perhaps Tinkler expects a rival bidder to appear. He's in a better position than most others to make that judgement.
So although he personally won't "disrupt" the takeover, he thinks someone else will?

Thank you Poker. But if he's buying at 3-4p, but expects the 1p a share takeover to go ahead, what's he playing at??

DF - if it goes through, you'll be selling your shares to Virgin/Stobart, full stop. You won't be transferring them anywhere.

A major factor in keeping the price well above 1p. I wonder if he's planning to block the bid.

Would be interested in your thoughts now that the dust has settled.

HH - but the net value after taking on liabilities is the NAV, which is around 40p per share. NAV means net of liabilities.

The timing of the announcement (5 mins before close) is very suspicious indeed.

Anyway, IAG (who own Vueling) must be out - why would they buy the Gatwick slots if they were about to bid for the whole company?

However, that still leaves plenty of others, if the RNSs today indicating a large number of potential bidders are to be believed.

Keith Everitt averaging down?

Maybe the market thinks the deal is so poor that it will elicit better offers.

The BOD would say theses things, wouldn't they? They need to justify the offer which they are recommending. It doesn't mean it's true.

There'll probably be some feedback from them in the Sunday papers.

..the market doesn't think this deal will fly.

The BOD is there to protect the shareholders' investment. If this weren't the case, it would be the end of capitalism!

I expect we'll get a letter from Flybe via our brokers in about 4 weeks time.

There'll probably be a form attached through which you can vote by post in advance of the meeting(s).

Irrelevant here.