Member Info for Radius

Going by this morning's RNS, and assuming my maths are correct, SAG could now offer approximately 6.72p per share for the remaining 73% they don't own for an average of 6.5p for the whole company.
The cost would be approximately £38.25m.
I'm open to correction if my maths are out.
R

Thanks fatoomch
I've been back & reread the code and I can see that an offer would have to be made once the 30% limit was breached, but I can't see any mention of this superseding the 6mth rule.
Apologies if I'm missing something.
R

These questions are open to all interested holder's.

If SAG increase their shareholding to 30% + within the next 6mths, are they then still restricted by the 6mth time limit on making an offer?

If they breach the 30% shareholding are they not bound by takeover rules to make an offer for the rest of the company?.

Just trying to get my head around the various permutations.
Thanks in advance
R

Hi TT
Yes it is a worry.
Problem I've got is, SAG didn't raise all that money to just sit on it.
Calling it a "Strategic investment" can mean any number of things!
Good luck all lth's
Cheers
R

fatoomch
I hope you're right.
But why would to they put all the effort into turning TPG around for 70% of that effort/return to go to other TPG shareholders?
Why not find issues, real or imagined, which slowly erodes tpg's SP over the next few months, or even not even take up their new posts, citing unforseen financial issues , they've done it before.
Pick up cheap share's, then offer 5 - 6p for the rest, painting it as doing you a favour.
The II's will look at the longer picture, 29% of the pie now, or 100% of the pie later.
The best indicator of future behaviour, is past behaviour.
I hope I'm wrong believe me.
R

Tradedan
It's listed under EQS in the RNS list as of yesterday
R

Who's shareholders are they going to look after, SAG's or TPG's?

And the Foxes are hereby invited into the henhouse.

Guessing their jumping before being pushed.
Doesn't fill me with confidence for tomorrow.

Hi TT
Thanks for your insight
Cheers R

Hi TT
Thanks for your well balanced comments.
As for you're leopard, well I must get new glasses, looks more like a Trojan Horse from where I'm standing! :-)

Hi mrmilky
Put me down for one!
Better get a box!
Cheers R

Hi TT & OT
As LTH's, what's your view
Thanks in advance.
R

Hi ShearClass
'What's the point?'
Time.
Time to shed Maritime TPG ( at a realistic price) which would put accounts back in shape.
Time to cut costs & keep the market informed as to your progress on both these issues.
Time for others to assess the trimmed down/debt free business & see (or not see) the value in making a offer at a sensible price.
What's the rush!
I & many others have been here for year's, I can wait another 6months.

Hi ShearClass
Why would the TPG board have no choice?
Interesting last condition re: material change of circumstances (Panel on T&M's).
Suppose for argument sake company A wanted to buy company B on the cheap.
You could buy enough shares to get on B's BoD, then do some mud raking, sorry due diligence, conclude it's a dog, let the market know that's your view.
SP of company B tanks, company A buys company B on the cheap.
Job done.

Have been researching an answer to that question.
Does an indicative/possible offer carry the same restrictions as a firm/open offer.
They'll have counsel to inform them on that.
But it will have been indicative on purpose.

SAG never made a offer, they made a indicative offer.
What makes you think 6.5p will be the offer? My guess is they'll get on board & say" oh it's much worse than we expected".
Read the Frontier takeover RNS's to see their MO.

Hi Scrodingerscat
Re: your 07.52 post
My thoughts exactly.
Tpg BoD get my vote for now.

Worth reading all the RNS's from SAG in the takeover of Frontier.
Personally I'd rather pay TPG board members to look after TPG's interests, not SAG'S interests.
I'll be voting against.

Hi back2black
Not sure where you got the 6.75p figure.
As I understand it, if SAG acquire 30% or more of TPG, they would have to then make an offer to the other holder's at no less than 6.5p, which is the highest price they've paid for any share so far.
If you look at fatoomch's post on Wednesday, it explains that if you hold 500k or more, their Broker will buy your holding via your Broker, if your Broker facilitates that type of transaction.
I've not used that system before so you would have to do some research.
SAG could buy up to 29.9%, then just leave it as a strategic investment. At that 29.9 % figure they do not have to offer anything to other shareholders & the market will decide the SP as usual.
This is only my understanding of the situation, I may well be wrong.
Other poster's with more knowledge please correct me if I'm off the mark.
DYOR
Cheers R