RE: Takeover/offer5 Jun 2024 17:35
It would be one of the dirtiest tricks of all time by Cheek and co and his reputation will be for ever tarnished.
As I said earlier, I don't think they can be actively involved in running a funding campaign which clearly has been designed to run the sp into the floor, pick up loads of shares and then even buy the company on the cheap. I just don't think it's allowed and would result in the FCA crawling all over it.
I am sure there are rules too about how much a large stake holder can offer for exactly this reason. Anyway, after such a disastrous couple of years I can't see many having averaged down too unhappy if an offer of 5p landed. It would have to be approved too by 75% of the share holders and there is a very high % of retail pis in GDR so I don't think a low ball offer would get through, regardless of what Cheek might say eg better accept this offer of peanuts or else we're going to spend all the cash we have and then come back and dilute you further or go bust....