Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
The open offer shares should show as fully paid on Fri 12th March and will be tradable on that day.
Record date for Open Offer was 17 Feb
Ex offer date 22 Feb (8.00am)
Your broker should have applied your offer shares to your portfolio (nil paid). Pay for them at 210p or they will disappear at the end of this week.
If you have sold your shares since 22 Feb you still have your Open Offer shares available to purchase.
MAB shares are now trading Ex Offer. The offer shares are non transferable and non tradable.
Anyone buying in the market at today`s price has no access to the open offer and would therefore not accept any further dilution. You are free to sell MAB shares in order free cash to take up your offer shares.
The theoretical dilution price on offer date was 294p. We are slightly above that at present. Where else could you buy 300p shares for 210p. Odyzean will be happy to mop them up if you don`t take them.
Anyone who does not take up their options at 210p is just handing Odyzean more of the company at a discount price, which is what they want.
Barclays and Nordes Bank did not buy on friday!
They are merely advising their holdings along with everyone else because the company is in a bid situation. That is what the Form 8.3 is for.
Liberum has downgraded Marston’s to ‘hold’ after takeover speculation pushed the share price higher.
The brewer and pub company is currently considering an unsolicited approach from US private equity firm Platinum Equity Advisors. No further details have been announced by Marston’s, although in accordance with the Takeover Code, Platinum must make a firm offer or walk away by 26 February.
Anna Barnfather, analyst at Liberum, said: "Marston’s shares have risen up to its current pro forma net asset value following confirmation of a bid approach. No firm offer has been made, and hence no specific details have been provided while the board evaluates the proposal.
"Based on a pre-Covid trailing earnings before interest, tax, depreciation and amortisation of around £180m, current NAV of 87p and recent transaction comparatives, we believe an offer could come in at above 100p.
"However, this is dependent on many factors. We move our recommendation to ‘hold’, giving the upside risk balance with uncertainty over whether a final offer can be agreed."
Liberum, which previously had a ‘buy’ rating on the stock, has a target price of 90.0p. As at 0930 GMT, shares in Marston’s were flat at 82.25p.
If there was going to be no agreement, what would be the point of arguing about the length of any standstill.
https://propertyeu.info/Nieuws/Eurofund-bids-for-Intu-Costa-del-Sol-scheme/8178c12d-f382-4f78-882c-d654220365a9
Eurofund Group, Intu's minority partner in its Costa del Sol retail and leisure destination, has made a bid to buy out the struggling UK REIT's ...
https://news.sky.com/story/coronavirus-intu-administrator-seeks-12m-funding-12004670
Results put back to Thursday 12th March
H-hi
He secured a loan with Intu shares.
He has now repaid the loan.
The shares held as security have been released back to him.
The put options have not been exercised but settled with cash payment.
No shares have changed hands, he still has his original share holding.
Nature of the transaction
Settlement of the final 11 tranches of the derivative financing arrangement notified on 12 October 2016, being the automatic cash settlement of such tranches of put options granted to Peel Chapel No.4 Limited.
No shares in the issuer are being transferred by the Peel Group as a result of such settlements
Peel Holdings pledged some of their Intu shares as security for a loan.
The loan has now been fully repaid and the shares have been released back to Peel Holdings.
The puts were all part of this derivative financing arrangement and have now been settled.
Peel Holdings now has all it`s shares released back and is free to take part in the upcoming rights issue.
Disclosed Short positions in INTU PROPERTIES PLC (INTU)
Fund % short change Date changed
Melqart Asset Management (UK) Ltd 0.71% 0.19% 30 Oct 2019
ODEY ASSET MANAGEMENT LLP 3.19% -0.06% 11 Nov 2019
Polar Capital LLP 1.07% 0.10% 24 Jun 2019
Total 4.97%
BoardsOfUK
Six months ended 30 June 2019.
• Profit after tax of £0.7m (H1 2018: loss after tax of £3.0m)
• Basic earnings per share of £0.01 (H1 2018: loss per share £0.04)
• Cash and cash equivalents at 30 June 2019 of £9.1m (£5.5m at 31 December 2018)
Watchstone claimed that Greenhill established a back-channel to PwC via a series of secret meetings at which it unlawfully obtained confidential information pertaining to Watchstone’s wider group.
It said Slater and Gordon factored that information into its negotiation strategy during the acquisition of Watchstone’s professional services business.
it said this gave Slater and Gordon an unfair advantage in negotiations which it exploited to buy the division at a lower price than it would otherwise have paid.
Yesterday the Commercial Court found that the counterclaim should be allowed and should be heard as part of the trial of Slater and Gordon’s claims, starting on 21 October.
It looks like it is a done deal, and the 850p guaranteed!
Nick Burchett, who hold Greene King in the £127 million Cavendish Opportunities fund he runs with Paul Mumford, said the offer was a 'great reflection of its value'.
'The business has a good portfolio of freehold property and a strong position in the thriving UK pub and brewing sector,' he said. 'And with neither opposition nor competition on the horizon, it seems like it’s a done deal.
You can sell your shares tomorrow in the open market as normal, or wait a few months and receive a cheque for the total holding at 850p. You will also receive the dividend payment announced in a few weeks.
Vouchers qualifying date 31st July.
For distribution last week of August onwards.
Vouchers should already be in the hands of nominee brokers so should be posted out as usual.