Member Info for Toffers

Ps bought that moc croc emerald green handbag which Jade has released for sale today so if you're stuck for a valentines gift, make sure you visit Holland Cooper! I'm keeping the wife happy for JD!

Signing off. DYOR!

Oh, you accept now that he is the 'offeror'!

Coxon, that made me giggle.

Holding long and strong with 500,281 shares and contemplating whether to risk it and top up some more as still got 40k spare, it's beginning to look as though it could be worth it, but will wait to see how things continue to pan out early next week. Have a great weekend all. It's cold outside but it's nice and warm inside SuperDry! :)

I said, read from what is published first, so take the disclosure table first and work it from there. You don't even accept what is stated in the disclosure table and the notes given underneath it. Anyhow, people can read what is in black and white for themselves and then do their own interpretations.

Perhaps people can debate it, but at least start from what is published and decipher it from there regarding the rules and so on. Leave you to it.

"An offer under Rule 9 must be made in cash and at the highest price paid by the person required to make the offer, or any person acting in concert with that person, for any interest in shares of the company during the 12 months prior to the announcement of the offer."

source: Burlingtonslegal.com

I posted this the other day also!

StarBright, you are incredibly rude.

"Under the Takeover Code, when a buyer acquires “control” of a target company it must make a cash offer to all shareholders offering to acquire their shares at the highest price paid in the last 12 months.

The Takeover Code deems “control” of a target to arise when a buyer acquires shares carrying 30% or more of the voting rights."

He is the offeror, read the disclosure table naming Superdry. They are the offeree, and Dunkerton is the offeror.

Then note, "Disclosure of dealings and positions in this offeror is not required” , it's marked there at the bottom on the table.

Then note, "Where an offeror is marked “Disclosure of dealings and positions in this offeror is not required”, (which it is), dealings and positions in relevant securities of that offeror (offeror is Dunkerton)are not required to be disclosed under Rule 8"

Then read why it might be so which is underneath that. There is a "bid situation" so it changes the whole dynamic, and an offeror might not want any other possible bidder knowing how close or otherwise he might be to crossing the 30% line until he's in a position to declare it, and possibly take them by surprise. By knowing whre he might be in the process, will provide an indication of likely price, ie is he likely to wait and pass the 16 Feb deadline which is the first hurdle on price as we know it, or is he accummulating quickly and will come in before, in which case, his bid is almost certainly likely to be higher than the £1.11. It's a matter for him, and I suspect we don't actually know how much he has accummulated so far in reality, it's all part of the game!

Anyhow, not arguing any further. Perhaps the poster with M&A experience can clarify as to his knowledge/interpretation? but I'm just taking it from what I'm reading from the Disclosure Table.

StarBright, just for info, not saying I'm always right, I am human, but I have been a lawyer, amongst other things.

See the notes underneath

Https://www.thetakeoverpanel.org.uk/disclosure/disclosure-table#:~:text=Where%20an%20offeror%20is%20marked%20%E2%80%9CDisclosure%20of%20dealings,not%20required%20to%20be%20disclosed%20under%20Rule%208.

p.s. the £1.11 stockcheque is relevant. it relates to the highest buy price in the last 12 months, which is applicable as per the takeover code. i've also posted the exact wording for that somewhere in the last day or two, but i can't be ****d to look back at my postings further.

if jd can wait for february 17th, then it would seem logical for him to perhaps do that and make a bid of 76p plus a small premium, so say £1 for example.

if he knows that predators could swoop and make formal offer(s) beforehand, he might be pushed in to coming in higher.

who knows. it might not happen at all but we're hopeful.

StarBright, , look at the disclosure table yourself. "Disclosure of dealings and position in this offeror is not required" - the offeror is Julian Dunkerton, so I take it that he is not required to disclose neither his dealings nor his position.

Further, I posted about the requirement for a mandatory offer on 8 Feb at 12.09.

Lastly, also on 8 Feb at 08.25 I made it clear "The £1.11 was executed on 16 February 2023, the 76p on 4 May 2023."

I have said that at midnight on 16 Feb, the £1.11 will expire as it will no longer be the highest buy in price for JD in the previous 12 months, so then we have the 76p.

What he does, and when he does it, if he does it, is down to JD obviously. The signal yesterday of a buy in I hope was a sign to steady the ship and to say he is accummulating.

Now just a case of waiting.

Stuff to do. Very happy with my holding. Await news.

Did you see my post last night after you were adamant that JD had to declare? No he doesn't. That was misleading from you and its there in black and white in the TakeOver Panel Disclosure Guidance. It was nice to have a sign though but it's not a given that we will get any more holdings disclosures from JD, and who might be doing the accummulation on his behalf, until any possible offer.

"See bottom line

"OFFEREE: Superdry plc

Offer period commenced: 10:55 02-Feb-2024

5p ordinary ISIN: GB00B60BD277 NSI: 99,072,093

OFFEROR: Julian Dunkerton

Offeror identified: 10:55 02-Feb-2024

Rule 2.6 deadline: 17:00 01-Mar-2024

Disclosure of dealings and positions in this offeror is not required"

(source: TakeOver Panel Disclosure Table)

Over 800k shares traded so far, according to msn, I wouldn't call that 'weak volume' by any stretch of the imagination. You did this yesterday, talking it down, when waiting to try and get a cheaper entry, tut tut!

JD's birthday in March! Takeover Panel deadline date 1 March! It's close! my views.

All smoke and mirrors DonBroco - you don't tell your competitiors who might be looking to make a bid how near or far you are from that 30%, just keep them guessing! personally, I think he's got it, or very very close to it! the difficulty now, with L&G disclosing his details is that there might well be a leak (not a welsh one!)! my views.

I also think he is close to the 30%, just holding off until he's ready to let it blow! imo.

Don't forget the tomfoolery! We have no idea who is holding what for who in reality!

"Brokers can indeed buy shares on behalf of company owners and hold them"