Member Info for selecta6

First portfolio update now released.
However, it's a bit of a challenge to find it on their web-site!!

What a shame, cj62.
What a shame i didn't bump into you, during my business transactions.
I could have done you up, like a kipper.
You doing your due diligence, offer i've accepted your offer.
I'd have seen you in court!!
This is basic contract law.
An offer and acceptance is binding.
Anything else, is merely getting near to each other, and creating nice warm feelings. HOWEVER, it's not binding.

Thank you CAW1.
Backing up my request for Mac to desist, with his regular, incorrect posting, since it may mis-lead new or inexperienced investors.
Mac, are you reading.
Try changing the word offer to 'Letter of intent'
Thank you.

Well said, Judge.
Many of us have zero understanding of the misery and suffering endured by many brave souls.

Mac, i did ask nicely.
Please, stop posting this incorrect statement.
Due diligence takes place PRIOR to an offer.

Any-one would be barmy to make an offer before undertaking, due diligence.

Let common sense prevail. Not your theory.

Thank you.

OOh, sounds like a Hammie Rose gathering is being formed!!
Nice big old Brickwoods pub.
So, plenty of room for many of us, there!

@Pompeyrod,
You're on.
Cor, the Rose. Had my first legal drink in there!! Well, also my first illegal drink in there, too!!!
Almost bought a house in Clanfield, and also HI, before buying in Cowplain, then onto Horndean.
I'm in Blandford Forum in Dorset now.
Still got a Sis in Widley.

@Pompeyrod.
I'm sure it was you that i 'spoke' to on here, when i was looking to invest.
That was 15/18 months ago.
I remember asking you where.ish you lived, since i was brought up in Widley, just on the back of the hill.
You are HI, aren't you?

The stock exchange has an RNS logging facility.
A company will use that, together with a release time for the RNS.
I have no doubt the jungle drums start banging within the MM's and II's, well before we get to know.

Pete,
Nothing wrong with that philosophy.
Shame others don't follow it.
I do. Which is why i hardly ever post!!

Nothing wrong with whatever level of knowledge, one may have.
Mine is way down, too.

@Newbie642, aka Pete.
Been meaning to say for a while.. I always enjoy reading your posts.
I skip over many others, but not yours.
Always, dis-passionate, solid, feet on the ground stuff from you. Brilliant.
Many should follow your example in posting. Would make the board a far more pleasant place.

I'd add TopCat, into the nostalgia.
Amazing how many good programmes have been mentioned from the 60's and 70's. When TV was proper!!
Hard to think of anything even half decent from today.
Most recent good stuff was, Murder One, Hill Street Blues (both american!!!) and the most recent Life on Mars.

Keep posting Pete, better than painting!!!

@BumBum,
Nice couple of informative, accurate posts.
Thank you.

Love it Billy.
My job, when a lad, was to fill up coal scuttle for lounge fire, and also the coke one for kitchen boiler.
See that lady doing similar, brought back fond memories.
Loved watching the coalman deliver and fill up the outdoor coal hole.

Mac,

For the avoidance of doubt.
This is the quote you are regularly stating, which i have a problem with...

'Due diligence is an exhaustive process that begins when the offer has been accepted;'
You have stated that on numerous occasions.
An offer has not been accepted.
This could confuse/ mis inform new/prospective investors.
Please desist from stating it.

There is evidence here and in RNS's to prove no acceptance (and probably offer) yet!
Once a reasonable offer is accepted, do you really think the SP would be where it is?

Just leave that sentence out, then we can all carry on hanging around waiting.!!
It will be along, SHORTLY!!

Mac,
I've no desire for an argument.
I merely wished to correct your statement, that you throw up regularly.
There are many new or potential investors here, and it is important that we are strictly factual.

Corporate law is not at play here. This is best practice.
It is contract law, that will dictate the sale, if it occurs.
I'd suggest you read up on contract law.
In a nutshell:
An offer an acceptance is binding, anything else is an invitation to treat.
If you re-read your posts, you will see it implies as such.

Mac,
An M&A process is not subject to a law.
There may well be best practice.
Best practice, underwritten by the law, dictates.
An offer and acceptance is legally binding. Hence at conclusion of any deal.
Anything else would be deemed an invitation to treat, and is not legally binding.

DD would be undertaken prior to any final offer and acceptance.
It's no different with a house purchase. An offer may be made and accepted, but it is subject to survey, which is a part of the DD. Then offer and acceptance are confirmed, or modified.

Anyway, lets just hope this is all over, SHORTLY.!!!

Hi Mac,

Well, you have your view.
But, all you quote is the theory. It's like quoting from a monetary economics book.
All fine in theory, but you then over-lay it with practical considerations.
Try applying any economic theory to our economy presently.

This is a multi-billion deal, and no party is going to take a smidgeon of risk with it.
Hence, the inordinate time-frame.
A final offer and acceptance will only occur, at conclusion.
Since an offer and acceptance is legally binding.
Anything that precedes that stage can be avoided.

I'll leave you to quote your theoretical literature.

I think we are both on the same side here, just differing slants.

Hi Mac.
Well, we'll have to agree to disagree.
Makes no sense to undertake DD, after an offer is accepted.
I don't think an offer has been accepted, yet.
This is an involved structure, and the Russian influence will add significant time.

As for stevo999. It's just normal business practice. Notification, talks, expression of interest, due diligence, offer, acceptance or rejection. Then possibly revised offer.
Exactly the same with a house purchase. House would remain for sale, until survey completed, and final negotiation of price. Then final offer and acceptance.
All firms would be on a retainer. They aren't going to put in the time they have, and risk no remuneration.

Hi Mac,
sorry for delay in replying.
I've no link, just experience and common sense.
There is no point doing anything AFTER an offer is accepted.
Aside, of a court case, if things start to be retracted/changed.
Hence DD would be done after an accepted expression of interest.
An accepted offer is binding. So, no point doing DD after that.
That's just common sense, link or no link.

Greggstottie. Fees. Do you really think that all the miriad of professional advise to date, has not been 'billed'.
The firms would be on quarterly retentions, which would be offset against 'success fees'.
So whilst it may be correct to say no fees. It's not that the firms haven't been paid.
Hopefully, the eye watering fees, will be worth it. Since we, as shareholders. are indirectly paying them.

In my view, even though potentially complex, we need greater speed here, and greater clarity from the board.
No doubt, we will get that, SHORTLY!!!!!!

I hope you are correct.
However, i fear it will be silent until 2022.
UBS and Piper etal, need more time to continue to extort more fees!!!!!!

As an aside Mac, whilst i enjoy all your accurate, non crymbo related posts.....
I'm not sure you are correct with your due diligence quotes that you've posted a couple of times.
One would undertake DD prior to making an offer, not after acceptance. It would be too late if your offer had been accepted.
It would be made after an expression of interest, though.

ATB.

No, no, no.
It's only 6th Nov.
Leave it for at least another 6 weeks.
Then play it, with the volume turned off!!