Member Info for QueenElvis

Well you've missed the pmo divi this time - goes ex divi tomorrow. Going to watch this new drama Frankie. Miningman seem to remember us having a conversation about something similar a few weeks ago but those Takeover Panel rules read like gobbledegook in parts to me. The Russian must be looking for some sort of return on his investment if he keeps upping his stake. Anyhow if Goldy's pal who said an offer of circa £4 is coming is right, I'll be over the moon. Goodnight all.

Upped his stake again. Talking of steaks lego, I am not too far from Castle Douglas, Scotland's Food Town and home of Cream of Galloway ice cream. Never mind your premier oil, are you still holding your premier food. You seem to be like that jamesmaggs holding shares in every company known to man or woman.

Are lodan and Jolly an item? Very quiet on pmo bb but like you said a good share needs no ramping. I suppose I take comfort tonight with my little aimer that a really bad share needs no deramping either. Well after last night's post midnight efforts on here, I'm off to bed to read. Goodnight

Justin wouldn't have been born in Urquhart Castle. It's a Historic Scotland ruin although quite a large one. More likely to have been born on that esate Jimmy Page and that Crowley guy owned with all the occult goings on lol. You're a bit of a tease. I need to go and watch that programme to find out who Max's guest was. Talking of Max, I'm gonna start busting a ss on another bb pretty soon lol as I don't trust anybody or their motives. All fine here though at the moment.

"Unlike an offer, those shares already owned by the bidder are not part of the class which is eligible to approve the scheme. A scheme also requires the additional sanction of the court.

The rest on here http://www.whoswholegal.com/news/features/article/29552/public-takeover-offers-versus-schemes-arrangement

PROCEDURAL DIFFERENCES Control In contrast with the offer process, which is led by the bidder, the scheme process is controlled by the target company. This feature has important repercussions for the utility of the scheme as a method of takeover. In particular, a scheme must be approved by those holding 75 per cent of the voting rights in the company, and thus its success depends largely on the cooperation of the target company’s board and its shareholders, making it an unrealistic vehicle for a hostile bid. However, that is not to say that the use of a scheme in a contested situation is impossible. The panel on takeovers and mergers (“the panel”) plainly anticipates the possibility of using a scheme in such circumstances; appendix 7 to the code, which sets out how the code applies to schemes, requires a bidder to consult the panel if it is considering announcing an offer or possible offer which it is proposed will be implemented by means of a scheme without obtaining the support of the board of the target company. Furthermore, HgCapital LLP’s offer for Goldshield Group plc (“Goldshield”), announced on 25 September 2009, provides at least one precedent of the attempted use of a scheme in a hostile bid. However, the success of such an approach was not tested, the offer having been ultimately recommended by Goldshield.

There can be no doubt that, as result of the current economic climate, the quantity of public takeovers has declined. However, this period of low activity presents an ideal opportunity to revisit the procedures, and associated benefits, of the main vehicles for conducting a takeover. There are two principal methods of implementing a public takeover of an English company: first, by means of a takeover offer (“offer”) under section 974 of the UK Companies Act 2006 (“CA 2006”); and, secondly, by means of a scheme of arrangement (“scheme”) under part 26 CA 2006. While both are subject to the city code on takeovers and mergers (“the code”), the two processes differ in some fundamental respects; most notably, the former is a proposal by the bidding company to the shareholders of the target company, while the latter is a proposal by the target company to its shareholders and/or creditors. In the first six months of 2011, the scheme remained the more popular deal structure, continuing the trend of recent years; of the seven main market deals which occurred during the period, five were structured as a scheme, while only two of the eight AIM deals were structured as an offer. This article explores, in the first instance, the principal differences in procedure between the two methods, before comparing their respective advantages and disadvantages.

here is not brilliant but still better than a poke in the eye with a sharp stick as somebody I used to know would say. Goldmanminer go and post something again on the rbs bb .... I dare you.

Okay so you're holding and not trading and have only made a paper gain here so far. I suppose there comes a time when one has nothing new to say without repeating what's already been said at any given time about a company but I agree with Edster that the balance sheet and reputation of kaz plc is on the line here - and the Russian's no slouch either when it comes to investing which is evident when you start digging about into his background. LOL look at the time. It's time I went and did something more useful. Enjoy your evening folks.

Because you are new to LSE your link has been removed from this bb but it can be viewed by clicking on your user name so here it is http://www.ft.com/cms/s/0/467985e6-b981-11e2-9a9f-00144feabdc0.html#axzz2Sz7JV2vy As sharendipity has commented - what is usual for other companies is not usual here. The consortium already owns a fair chunk of this company so I'm not so sure it would be fair to give them an extension of time. You were asking if any offer price becomes public knowledge straight away and if trading gets suspended after the rns. There's little point in making an offer if the price isn't to be made known and voted upon. Trading in the shares would continue until the takeover process is finalised. I am trying to think back to the Cadbury, Northern Foods and Encore Oil takeover. Pretty sure the Northern Foods share price sat at around the offer price until the process completed but can certainly remember Encore Oil price going above the pmo offer price of 70p a share at some stages during the takeover process as it was thought a rival bid could come in. Can you tell me what rule you are referring to for you to have arrived at the £3.78 minimum figure. A poster on iii earlier this week was touching upon some other rules and bandying about some other prices. ATB

I would agree with you that this is worth a punt. From your posts though, I think that we can infer that you are trading this rather than holding and sitting tight. Just be careful, you're not frozen out should a takeover announcement arrive at your £3.90 guess. ATB

But your own post on Tuesday clearly indicates that you don't agree with the Fool's comment that if you had invested in enrc over the last month then you would have [necessarily] lost heavily. From your post on Tuesday, it is clear that enrc has been serendipity in abudance for you as you said " where are those shorters today? lol. making me a fortune this is. Its got to happen hasnt it?"

Thought he'd be in here on Wednesday morning and out by Wednesday afternoon before you could say "Bingo" lol

username gives me a bit of a chuckle. I was just thinking that teutonic is gone then again to be fair so are a lot of others .......

It's a shame the gremlins seem to have got to Goldy's last post on here which I think was taken from the Financial Times so worth reading the actual article. Don't think there were any subliminal messages in this "Credit Suisse has recently joined Lazard as an adviser to the independent committee of directors at ENRC. The Swiss bank has traditionally served as one of ENRC’s M&A advisers. Lazard has had a long standing relationship as an adviser to the miner’s independent directors." And the Independent comments on Deutsche's decision to quit as a" key advsier" to the company " there was talk that the bank was angered not to be involved in the defence of ENRC against a possible takeover bid" Also from the Independent article on the SFO situation "ENRC has hired Lord Goldsmith, a former attorney general in Tony Blair's government, to "look afresh" at the situation. " http://www.independent.co.uk/news/business/news/scandalhit-miner-enrc-shunned-by-leading-city-brokers-8610218.html It's a pity but it's pretty obvious from reading these bbs that the vast majority of posters have no real fascination for the stories behind the companies they are commenting on and are merely here to make a fast buck. We'd get much more factual and objective posting if folk just had a general interest in company affairs.

Understand where you are coming from with some of that post but not sure what you mean by "if a takeover happens pick an exit point because once the hoo ha has died down, the corp govenance factors will haul this south anyway." Surely if a takeover price is announced by the consortium, the share price would hover around the takeover price announced until the takeover process was completed or even rise slightly above it if there are thought to be any rival bidders around. Also have no idea where you are coming from with the assertion "Those not focused here could lose all their investment, and there will be some."

vikingjohnny - some of the surviving branches are so small that you can barely swing a cat in them let alone display lots of lines or have a cafe area e.g. Glasgow central station and Glasgow Silverburn and even some of the larger branches which have closed like Kilmarnock and Irvine would have been a bit small for housing a cafe area. The cafes do work though in the areas where I have seen them in operation eg McArthur Glen and Loch Lomond Shores. New cafes/outlets would need new leases of more spacious premises and need kitting out which might be something which could be considered in areas where leases of current premises are about to expire but it all takes money and hmv had insufficient funds to do more than kit out one store with an internet cafe in Cambridge when relocating their presence there. The Drone - ice cream and strawberries etc. should be pushed in the summer months Rongone - worth rereading the trading update of 24th April as it was mainly positive. International sales had grown by nearly 31% and it looks like that could be a big growth area. Own store like for like sales weren't up much but they weren't declining either. They could look at trying to encourage franchise partners from others besides Birthdays and Clintons but maybe not a scented candle place like in Newton Mearns ! Thorntons branded UK Commercial sales grew by 10.0%, Total sales for the period which included Valentine's Day, Mother's Day and Easter increased by 4.0% to £60.6 million compared to the same period last year and Private label sales increased to £1.7 million. There were a lot of other positive points in the statement as well though it was disappointing that Thorntons Direct sales decreased by 4.6%.

Not sure if this has been loaded on to the London South East site yet but just confirmation Wilsman that the Russian has now increased his stake to over 3% http://www.enrc.com/regulatory_news_article/3299 I suppose I have a question as well: Is it only the consortium who might have an interest in buying this?

Just back home from a wind swept Isle of Arran. HL only used them once to sell some Sainsbury's shares I had in certificated form bought through another broker. Got whatever the current price was at the time of 'phoning them. They seem to be putting all Rosie's buys via the ISDX. That poster Jange lifts all his pros and cons posts from their site - maybe he works there lol. WL only watched a few episodes during my second maternity leave before pulling down the blinds to watch the repeats of Bergerac whilst feeding. Liked the guy who was the natty dresser with the braces and bow ties, Justin Prophet or something like that. QE - oh an Irish band and the title of a Robin Hitchcock album. More a fan of Declan Patrick Aloysius MacManus than the King but a bit of tongue in cheek too. Freddy was gone and Elvis is an anagram of Lives and Levis. Live - and Olive the saviour of hmv lol. But inspired most of all I think by a post from the irreverent Chiffa who looked at somebody's previous posting history and said you'll be sitting on your cheap leather couch from Land of Leather, eating your pick and mix from Woolworths, listening to your Elivs LPs from hmv and there was something in there about bending over the couch. I go back further than you think but had a bit of a run in with a poster called Cherryhmv and his cronies. Looks like the triumvirate at ENRC are taking this to the wire so I'll bid you a good weekend.