Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Strange how when 888 suspended the Middle Eastern vip accounts and launched an internal inquiry, GBGC wasn’t interested yet the SP dropped to low 50’s. Now their operating licence is under review and by a legal technicality could be taken away at any time, and the SP is mid-80’s.
Lloydyboy, where were you not so long ago when 888 was low-50’s?
If the SP price goes up 10-15% tomorrow it could be because FS Gaming are buying, so I’ll be selling. If the SP continues to fall it could be because FS Gaming are dumping their stake, in which case I’ll be buying.
KA is not stupid but the kebab shop incident does show he can be bloodyminded when he doesn’t get what he wants. The delivery car wouldn’t give him a lift home, so he took the delivery car away. The 888 board won’t give him a seat on the board, hopefully he won’t now attempt to take out 888 by disabling their operating licence.
“Any shareholder acquiring a stake of more than 10% in the business triggers a change of corporate control. The GBGC is required to approve such a change of control or reject it, and if it rejects the application, the only course of action is to revoke the licence to operate. Furthermore, once a change takes place it cannot be reversed.”
All I want to know is if triggering a change of corporate control is the same as applying for a change of corporate control. Can anyone shed any light on this for me please?
“ Any shareholder acquiring a stake of more than 10% in the business triggers a change of corporate control. The GBGC is required to approve such a change of control or reject it, and if it rejects the application, the only course of action is to revoke the licence to operate. Furthermore, once a change takes place it cannot be reversed.”
Sorry but having read the RNS more carefully, I’m trying to envisage a worst case scenario for shareholders. What’s to stop FS Gaming upping their stake to >10% on Monday, deliberately causing the GBGC to revoke the operating licence (and crash the share price) then buy the whole company on the cheap? Could 888 choose to suspend trading of shares to prevent this?
Sorry QuietBee, maybe it’s confirmation bias but I read the articles in ROF and the Law Society Gazette and would conclude that if you’re looking for a company that’s hell bent on growing revenue and maximising profits, KGH are a pretty good buy.
The next few days will be interesting. I know it often trades 30-40p below NAV (currently 287p) but the gearing usually reduces towards the end of June. I think investors will be eyeing up the next dividend and considering what the NAV might be on September 30th.