Member Info for shylock

Hope so - I would like a bidding war. But PK would have to pay over the odds to succeed in winning over the great majority of floating voters who have just kicked him out of office.

Well, you aren't Nick Kennedy, or any other director or connected party or your share disposal would have to be announced via RNS. But relax - I have no interest in knowing who you are.

For those who may not know who major shareholder Martin Evans is, he was co-founder with Peter Kennedy of bGlobal/Utilsoft and he voted with the rebels to oust him. Perhaps he's hoping to make a comeback, eg by putting in a bid for the company? http://www.insidermedia.com/insider/north-west/33585-bglobal-buys-utiligroup-128m-deal

lancs, with respect, nobody - apart from you - knows how many shares you held and at what price or when you bought them. For all I know, you could be Peter Kennedy.

Ho-hum, I thought. And upon further reflection, I thought: how very uninteresting. Did you find something interesting?

If he has sold out, he only had a few hundred quids' worth as the MMs have only been taking small orders. Seems that the smallest, emptiest vessels make the most noise. Btw, I'm still in (paper) profit here and not even slightly fazed by the SP action. As and when some good news comes, you won't be able to buy more than 5000 shares at a time and the SP will outpace you. Best to be in and ready.

Not a sector I know well, Kamel - but the bursting of the BRIC bubble must hurt sentiment, if not fundamentals. And the rupee is down 20% since the y/e results which obviously won't help as shareholders will expect to be paid out in sterling when the company and its assets are sold (now rescheduled for 2017 which may disappoint shareholders who were anticipating getting their money in 2014). The company seems to be well run and performing well enough at local level for now but they can't fart against thunder. I don't understand why they would propose to return some cash to shareholders from the sale of G2 and then proceed to borrow more money to finance future activities. Could turn into a burdensome treadmill.

And more coverage: http://www.manchestereveningnews.co.uk/business/business-news/bglobal-appoints-kpmg-strategic-review-5775843 http://www.accountancyage.com/aa/news/2290657/kpmg-advisers-appointed-to-bglobal-after-boardroom-tussle http://www.ifamagazine.com/news/bglobal-brings-in-kpmg-to-conduct-strategic-review-281588 http://www.thebusinessdesk.com/northwest/news/507270-bglobal-hires-kpmg-to-carry-out-strategic-review.html?news_section=4148#

KPMG are going to cost a few bob for sure. And they will be offering strategic advice as well as conducting an audit and all the other stuff you have to lay out before potential buyers in a data room. But just supposing Samsung are a potential buyer: they aren't going to waste their time reading the considered view of J. Bloggs & Son of Darwen High Street. But they will trust and believe one of the big 4. Not sure how long it will take but I posted a while ago that my impression after speaking to Mr Grant was that it could be a couple of months. And, yes, I fully expect the SP to sag in the interim unless there is some positive news from somewhere. That doesn't bother me in the least because a) I bought plenty at an average of under 5p; and b) it would be currently impossible to buy a similar stake because the MMs have kept a tight lid on trades, mostly falling back on their miserly NMS. Had I been a day trader, I would have been selling at 9p - but I'm here for longer, and for more. Let's remember that Mr Grant/Hawkwood own a lot more shares than us and they won't be spending money on KPMG without good reason. By the end of the process, I will be surprised if there isn't a tasty offer for some or all of the business from someone in Mr Grant's black book - who may even have insisted on a KPMG review first.

He didn't - but KPMG are auditors.

Incidentally, the review previously mooted by PK was merely a review of management performance by independent management consultants (as stated by PK in his July 22 RNS). This is not the same thing as a strategic review.

lancs, PK is out so whatever he may have said isn't relevant any more. The new chairman-in-waiting stated clearly that he would be appointing independent auditors to carry out the review and since that is what he has now done, why would you think there is any question about his believability? I don't do ramps btw.

Of course, should the independent review reveal grounds for dismissal of any company executives then it could save £250k-500k in termination/notice payments. And it might even reveal some real nasties, such as embezzlement. Outside professional and forensic auditors was the only way to go.

Kamel, I was expecting nothing less. The main purpose of the strategic review is to lay out the facts and figures for potential buyers to view, as in a data room. Any internal review would obviously not be independent, would be reliant on data recorded by the old guard and would therefore not be credible enough to put in the data room. Nor would it suffice as robust evidence in the event that any malfeasance or incompetence by former directors should come to light. Perhaps you should have read the July 16 RNS more carefully. I quote: "It is the view of the Independent Directors that an INDEPENDENT (my caps) strategic review is vital and it is important that this looks at all aspects of the Group's business and the efficacy of its existing senior management team, including the constitution of the Board."

KPMG appointed to conduct Strategic Review At the general meeting of the Company's shareholders held on 15 August 2013, the Board was given a clear mandate to carry out an in-depth review of the Group's business with a view to maximising the value of the Company for all shareholders. The Board is pleased to announce that it has appointed KPMG LLP to carry out this strategic review and will update shareholders in due course as to the conclusions of the review. Tim Jackson-Smith, CEO, commented: "The Board is delighted to have appointed KPMG to work with us in carrying out a wide ranging review of the business and to assist us in delivering value to our shareholders. KPMG has extensive experience in the sectors that the Group operates in and will provide the independent and objective assessment of the business that is vital in allowing us to fulfill the Group's potential."

More coverage: http://www.independent.co.uk/news/business/news/bglobal-chairman-ousted-as-investors-stage-a-revolt-8773559.html http://www.lancashirebusinessview.co.uk/bglobal-undergoes-boardroom-revolt-26769/ http://www.smartmeters.com/the-news/4189-bglobal-ousts-chairman.html http://sharesadvisor.com/1351/aim/bgbl/bglobal

Via Barclays at 10:40am: Max Sell = 100,000 Max Buy = 1,000 (not a typo: one thousand shares is all I could buy) In all my thousands of dummy trades over the years, this is easily the record spread on trade sizes. Difference between max buy and max sell = 10,000% !!!

...early in the morning. With only 107m shares in issue, even a small buy of 31k shares sends the SP up 7.6%. If the traders latch on to this - assuming the MM lets them buy some - the SP could double in minutes.

Good luck to you too. I'm playing the longer game.

harold, it was on LSE - 20,000 @ 9.0p. I'm sure it will build again.