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Strange day.You’d expect the sp to rise considerably and for the volume to be high.Are we sure that none of the million share deals are buys?
Looks like it could be a moment when the share price moves dramically upwards.
The confluence of good news is as good as it could be.
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Yes they can vote yes for 1p or no for nothing.
For this to continue trading at these levels is absolute madness.
Many will lose out big time
Why can’t the board just suspend share dealing in its shares?
At last I’ve found information from 4 days ago:
Flybe's biggest shareholder has launched a stunning attack on its directors, accusing them of breaching their duties to investors and threatening a legal challenge to the cut-price takeover of one of Britain's best-known airlines.
Sky News has learnt that Hosking Partners, a prominent London-based asset manager which holds a stake of close to 19% in Flybe, has instructed lawyers to explore its options in relation to the company's proposed sale to a consortium? led by Virgin Atlantic Airways .
These options could include attempting to obtain an injunction prohibiting the deal from being completed, Hosking Partners is understood to have warned Flybe's bosses this week.
The initial 1p-a-share deal, announced eight days ago, came at a huge discount to the airline's prevailing share price and underscored its industry's profound financial challenges.
In a letter to the directors of Flybe, details of which have been relayed to Sky News, Hosking Partners is understood to have expressed concern that they had allowed a false market in the company's shares to develop by failing to update the City on its financial position in a timely fashion.
?The fund manager, a long-standing shareholder in Flybe, is understood to have copied its ?letter to City watchdogs including the Takeover Panel, which polices mergers and ?acquisitions activity, and the Financial Conduct Authority.
Hosking Partners is said to have raised doubts as to whether the £2.2m offer reflected the intrinsic value of Flybe, and alleged that the handling of its proposed sale had blocked a rival offer from emerging at a higher price.
Flybe's fate took a further twist this week when it said that its sale to Connect Airways - a consortium comprising Virgin Atlantic, Stobart Group and Cyrus Capital Partners,? an investment fund with links to the other two parties - would be restructured.
?Instead of simply comprising a conventional offer for the shares, Flybe's trading assets would be sold next month to Connect Airways for £2.8m, leaving the holding company as? a shell for which ?the consortium would continue to pay a nominal sum.
Flybe said this change had been necessitated by its urgent need for liquidity - a claim challenged by Hosking Partners because of the company's cash balance and ability to raise funds from the sale of assets such as its take-off and landing slots at London Gatwick Airport.
In a statement to the market on Tuesday, Flybe said it had had no alternative but to agree to the revisions because unspecified conditions attached to a bridging loan had not been met.
Hosking and other shareholders are said to be furious about the restructuring of the takeover because Flybe's recent switch from a premium to a standard listing on the London market meant investor approval was now only required for the holding company bid, not the sale of the airline's assets.
The fund manager is understood to have told F
Hi Toiler
I too remember buying at 0.38p in December 2016 when we were going away for three months. On our return SML had become almost a 10-bagger.
Since that time I have always regarded 5p or even 10p as my target to make a really good profit.
Yes I know the so hasn’t gone as we expected over the past two years BUT I have great faith in the Redmoor juggernaut without caring too much about Leigh Creek and Hanns Camp.
I remember JPs son buying in at some valueless than 2p
Anyway it looks like we’ll be going above 2p pretty soon.
Good luck all long term holders!
There really is only on3 dir3ction now.
It will go for 1p or even 0p
Get out while you can.
I can see they are still fading but down about 30%
But my question remains - when will the shares be suspended from trading?
Does this mean the shares will be suspended?
In order to disrupt the deal doesn’t he need 25% ?
26,515,677. 12.23%
Andrew Tinkler IS still buying.
What are his intentions? He has said that he doesn’t want to disrupt the deal.
How do we actuality know whether Mr Tinkler is buying again today?
He may well have a,ready reset the dynamics so that lots of little people are now prepared to gamble .
Wish I hadn’t sold on Friday at 3.64p
Sorry folks I did mean £600000-800000
But why would he spend this if he expects it to drop to £200000 or perhaps Zero?
What will he do on a Monday?
When will the shares get suspended?
What is his upside outcome, if there is one?
I wouldn’t want to risk even £1000 in this crazy situation.
It might have cost him £6-8 million so far.
What does he hope to gain?
Isn’t it likely that his actions will lead the company into administration?
He will therefore have ‘lost’ his investment , the same as lots of private investors will have done.
This is a crazy story.......what do others think?
It is difficult to understand why anyone has been buying loads of shares today at a price up to 4p.
Is it because the takeover consortium is prepared to buy them (at a higher price than they’ve bid) in order to control the shareholder vote?
Or some other mysterious reason?
Sorry guys
I realised that I had to sell at 3.64p rather than wait for 1p
This is a dreadful example of where an investor can lose 80-100% of their money overnight.
Never invest in companies that look like they might be going broke!
Move on and learn a hard lesson.
Good luck everyone
This is now at 4p
This can only make sense if someone is buying the shares!
This could go much much higher.......
How will they get the shareholders to agree to this deal?
Most of us would rather have nothing back rather than 1p.
Is Mrs May running this company?
Clearly the market is expecting another bid.
Could this be IAG?