Yes, I wondered why this was collapsing... this NOT your regular 'squeeze out' type takeover offer!
The vast majority of cash takeovers involve the purchase of all outstanding shares once the offer goes unconditional. This however is the more unusual 'accept before deadline or be left holding untradeable shares in a private/unlisted company'.
I guess the only option now for those who missed the deadline is to get whatever they can in the market, while they can.
Not a special dividend paid by BAO, rather a takeover bid by Redbird. Note that insider (chairman) Jeremy Dowler traded in 1,500,000 shares for the 6p/share bid, but has retained (and will presumably delist with) at least 3,925,000 BAO shares. Probably means he has raised sufficient funds from the TO bid, to take part in the inevitable near-term re-financing...
It's there on the Corporate Actions page as a Takeover (unconfirmed). We have two options - ignore it, which is the default, or accept it. There doesn't seem to be an option for leaving some shares - I've had to write a number or put "All" in the past. They want their answer by the 13th.
At least it means we start the new tax year with a loss.
I also remember that twat Ben James, you don't mind if I call him that I hope, saying his biggest fear was a takeover around a ÃÂ£1.... All those RNSs we were suckered in with. To think I nearly took the trouble to go to the AGM. THE FAT BEARDED SHITHOUSE... Hope some Mozambique tribe put him in the pot.
Just thought I would have a little rant. I'm ok now.
Bit of marketing, as Bao is on its safe path to takeover bids, have a look at Oxus. S/p down from 4.9 to almost 3p and big news expected any day. Check oxs boards and the summary. Regards to All here. Btw. I followed Bao for a few years and expected rise back to 20-40, but.. big money won again.