Member Info for Radius

My mistake, block listing has been going on for a while & quite a bit bigger than the £18.9m!
Still useful to know.
DYOR
R

Ruffer Investment Co.Ltd are in the process of issuing a block listing of preference shares.
Interesting timing.
Details on London Stock Exchange website

If I've worked it out correctly, (please correct me if I haven't) their raising approximately £18.9m.
(You could buy over 290m TPG share's at 6.5p with that, if you wanted).

Hi Stokey12
My 5million was based on your 19:16 post
Do we have an up-to-date TR1 from SAG?
Cheers R

About 5 million more shares would take them over 30%.
Can't imagine SAG haven't sorted finances, 'duck's in a row' & all that stuff
I have to say my hoped for 3rd party is playing it cool!!

Yes Ot, but SAG must have or nearly have 30% & once that's breached don't they have to offer 6.5p to all holder's?

Don't understand why pi's are selling at 5.9/6p, in a day or so you'll be guaranteed 6.5p.

Lasvelas
I share you're frustration with the TPG BoD
But to show or not show information to a unwelcome bidder is about all tpg's board have!
Buy not sharing, be it good/indifferent/bad, they make SAG 2nd guess tpg's true operating situation.

At this rate we may not get to see the interims.
ATM SAG are trying to get shareholders into accepting their version of events.
SAG say in their latest RNS that one of the conditions to the 6.5p offer going ahead is the full backing of the TPG BoD, well that's not going to happen.
My guess & it's only that, is a 6.5p bid over the tpg BoD heads direct to shareholders before the interims come out.
If you were SAG, would you risk the interims being better than expected?
ATM we don't know, but more importantly neither does SAG.

It's a game of poker
Each waiting for the other to show their hand.
Could TPG release the interims early?, that way we can all reassess our positions on what we think our shares are worth.
SAG would then have to up their 6.5p or stick & say 'well that's what we're offering'.

One would think that SAG would like to keep their momentum going & possibly make a bid over the heads of the TPG board.
It's in SAG's interest to speed things along as it gives less time for possible third party/parties to get their act together.

I did misread it!
Got CGWL mixed up with CGWM.
My mistake.

Having looked back over the RNS list, SAG's initial purchase was from the open market.

Hi Fatoomch
I'm sure SAG have their playbook down pat.
I thought I'd seen a RNS declaration from Cannacord saying they only had 17k share's in tpg?
Do you know how many they hold, I might have misread it
I thought perhaps SAG's initial purchase may have come from them?

Fair point Ot
SAG also doesn't have the financial firepower for a full buyout, unless say, they team up with someone who's after Maritime TPG.
Should be interesting on Monday
Clock's ticking!

Sorry oldtramp, I'll just put Ot from now on, apologies.

Hi oldtimer
How I'm reading it is that if, SG kept it below 30% they could offer ATM 6.5p for the rest (the highest paid so far)but if they went over 30% they would have to offer 7.5p ( the highest paid in the last 12mths)
Is that how you read it.
Just trying to see if I'm interpreting it correctly
Cheers
R

Sorry, fat fingers again!
12 months 6.5p, or the highest price paid by anyone on the open market 7.5p (17th September 2020)
Cheers R

Morning oldtramp
Does that mean highest price paid by, in this case SG over the last

Hi Sheldster
Yes that's correct.
If you scroll down through the RNS near the bottom there is an explanation of the takeover code declaration requirements.
Hope that helps
R

Sorry, Oldtramp, not Old-timer lol