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Avesco Share Discussion Threads
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Basically, yes. This is exactly what happened with my holding in Amlin (AML) which was taken over in February this year. The value of the bid is credited to your account (or directly to you if held in certificated form). In fact, exactly as a dividend would be, only for a larger amount ...
The 4th of January has been mentioned in the RNS announcements as the date for crediting accounts/ despatching cheques.
|can anyone give some advise as to what happens from here? Do I just sit tight and once sold the value of the shares are credited to my account?|
|The now somewhat regretful, well-known and colourful investor, Evil Knievil who almost broke his personal record on Avesco:-
ALL IMO. DYOR.
|I was contacted yesterday by my online brokers about voting for various matters relating to the Recommended Offer for Avesco, namely the:
1. Court Mandated Meeting
2. Ordinary General Meeting.
I have in all cases voted IN FAVOUR/TO ACCEPT various resolutions and proposals relating to the Recommended Offer.
It only took a couple of minutes to do online, just by ticking the relevant voting box and hitting the submit button.
As Avesco have always treated shareholders so well, it seemed to me the right thing to do in order to support the management on their Recommended Offer.
I hope there are other like-minded shareholders.
ALL IMO. DYOR.
|Well done every one who backed Avesco.|
|PS likes VCP and I like VCP results
Profit up 92%
Good home for Avesco dosh|
|Just to let you all know...Paul Scott will be looking back and celebrating the Avesco deal tomorrow at our Mello on Monday event and will cover what to look for in companies that have quality stockranks and may indicate future bid targets . We will be covering at least five possible targets.
|OT - Hi Pratt, not a family business as such but Str has a CEO who has a great track record of building up businesses and then selling them to 888. They announced revenue above expectations back in September but are currently hovering around a 240p support line. Finals were 16th November last year so should be any day now.
All IMHO of course and DYOR.|
|Very interesting post Que regarding the family owned angle.I am trying to research more listed companies with families having invested their lives into it, similar to Avesco. Any leads from your end would be much appreciated.RegardsPratt|
|I first bought Avesco in the early 1990s before they floated off videologic. I made a packet, but sold too soon. I bought again a couple of years ago and saw the share price rise from 100p to 650p.|
|Thanks russ505. We've all had a few "if only..." situations. Mine was Ashtead early in my investing life. Poised over the buy button when it was on the brink and the shares could be bought for around 2p. Even a £2000 flutter would be worth around £1.4m now. That's why my mantra remains buy, hold and be patient when you think you're on to a winner. Hence why I stuck with Avesco.
I know we share at least one other investment in common. Imo it could be another multi/multi bagger given time.|
|Well done michaelmouse. After you highlighting Avesco @ 22p approx i put on my watch list. bought in @ 48p 13,000 shares 7 April 2010 and sold in two transactions 5000 @ 63p & 8000 @ 55p a nice short term profit in less than a month. If only i had held long term like you. Anyway WELL DONE absolutley brilliant.|
|I too sold at 635p but for a different reason. The price of 635p is way beyond anything I could have expected and is a realised figure. The 650p whilst perhaps 98-99% certain is subject to the bidder`s capacity to deliver, a collapse in the markets in the intervening period, the discovery of undisclosed matters at AVS etc etc. At this very small discount it seemed sensible to close out any risk, however remote. It does of course, as others have pointed out, also release funds for other investment.|
|Also sold mine at 635p ,like others I think I can put the money to use elsewhere for some worthwhile gains rather than wait for an additional 2%. There is of course a chance that a counter bid might arrive which would be great for investors still holding. And if investors can achieve further gains I would be more than happy to offer my congratulations.
So far I have reinvested some of the proceeds in adding to my holdings in SPE and PEL.|
|Thank you Alphabeta, much appreciated and good luck in your future investing endeavours! :-)|
Nothing is guaranteed but at over 55% acceptance already it makes it look pretty strong here. From how I read it the docs go out later this month and they need to get to 75% to make it unconditional?
Personally I've sold at £6.365, my thinking is at roughly 2% off the offer I can make that elsewhere within the 2-3 months and it saves me wading through paperwork / looking for risks etc.
If you do want to weigh it up and get a feel for the process you may want to look at the boards of other recent takeover examples. POWR is one I happened to hold but managed to miss recently, that's a pretty good one as they have just gone unconditional on the offer.
This will probably be my last post here so all the best to all holders and good luck to those who have made life changing sums. Sadly I don't fall into the later category so I'm off to find my next deal!|
|I've just posted the below on Paul's Stockopedia blog and posting here for any constructive feedback....is the general consensus here that it's a done deal and a competitor bid is unlikely? I'm considering selling into the market now but would appreciate comments either way. I'm a 'bird in the hand type of guy' by the way. I've never been in a takeover situation so this is all new to me.approx when would we likely see the payment if all goes through ok and one holds unti lthe end? Thanks in advance for any assitance here.RegardsDom|
|yup well done management! and Shares for tipping this just after Brexit where I picked it up due to £$ benefit....have sold all now and ploughed into DTG which IMO is worth a look, not sure it will do an AVS, but oversold and trading update yesterday provided comfort....DYOR and on to the next one|
|Sold the lot for 635p. Should be able to make up the 2.3% during the Xmas rally & no risk of the deal collapsing. Good luck to all & thanks to management.|
|whey hey hey....this is awesome...well done all holders!!|
|Thinking of champagne at 6 am Dean.I like your style.|
|It's heart warming to see so many good people do well just before Christmas. It is why the stock-market, when used correctly, can deliver up our dreams
|Just picked up the news. Champers has just gone in the fridge, five years of continuously buying has paid off.|
|I'm fairly new to stocks and came across Avesco when looking at today's risers. .
Would just like to congratulate all the long term holders. It's nice to see a good result for once amidst all the usual pump and dump misery. Well done and enjoy|