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Bluestar Secutech Share Discussion Threads
Showing 1201 to 1223 of 1225 messages
|masurenguy is a nasty piece of work|
|got the cash. I'll keep an eye to see if they get up to any SFT-style shenanigans and report back.
Is anybody here still holding shares?|
|RNS Number : 6611T
22 November 2013
NOTICE OF CANCELLATION OF ADMISSION TO TRADING ON AIM
BlueStar SecuTech Inc
At the request of the company trading on AIM for the under-mentioned securities has been cancelled from 22/11/2013, 7:00am. If you have any queries or require further information, please contact the company's nominated adviser on 020 7601 6100.
|today's the day, I'm in the woods, hope the picnic turns up.
|IBA - China: Asia's emerging superpower is going private - Chris Crowe
|This whole episode reeks of collusion and back-handed deals. Interesting that they say the company has no money, yet it could have afforded to buy back 23.5% of the shares. It seems clear to me that some of the remaining 17% of shareholders who were not part of the concert party believe they will be better off after the de-listing! I wonder if they know something that the average PI doesn't.|
|Interesting - they wanted to buy back 23.52% but only 6.5% accepted. So the majority shareholders or concert party or whatever they are will be left with under 82% of the company - not enough to do a compulsory purchase.
This is quite a pleasing development as it makes clear to any other companies thinking of delisting and buying back their stock that you have to offer at least a modest premium to the share price if you want to be taken seriously. If they'd offered 4.5p they'd probably have got enough to force the rest.
(Assuming the 90% rule still applies.)|
|Here's some bed-time reading for anyone not already familiar with the Sinosoft story - however dastardly BSST are being, they can't match SFT - yet.
|I am still about....very annoyed at the underhanded tricks by the directors and their cohorts. I was very fortunate in that I bought most of my shares at the 2.5p mark and will not lose out, but I feel for long term holders here who have been well and truly ripped off.|
|Anyone spotted Bill?|
beeks of arabia
|who's buying shares at 2.5p? seems an odd thing to do.|
|Debtor days a couple of months shy of 2 years (2012: 1.66 years)
GEONGs debtor days are worse at a couple of months over 2 years
It's rare to find companies whose debtor days are done in years|
bam bam rubble
|Fwiw, with trade payables at 30 September 2013 equating to approximately 667 days' sales (at 30 September 2012: 606 days), I would personally take the money...
Likewise to Mas, commiserations. Hope other shares are more than offsetting this for holders, you cannot win them all.|
|Shareholders do have the option of holding onto shares. But I would want to talk with management to check they will not force the purchase of those shares, probably at the same price, in the future, and just take out the minority shareholders completely. This has happened in at least two other cases (CHNS springs to mind, though there the offer was very decent).
I do not hold, please dyor if you do...|
|Thanks. I missed the bottom half of the RNS.|
|zangdook - it is at the bottom of the RNS. Payment date 21 November.|
|its at the bottom of release
EXPECTED TIMETABLE OF PRINCIPAL EVENTS
Tender Offer opens
23 October 2013
Latest time for receipt of Forms of Direction
9.00 am (London time) on 11 November 2013
Latest time for receipt of Forms of Proxy
9.00 am (London time) on 12 November 2013
Latest time for receipt of TTE Instructions in respect of Depositary Interests representing uncertificated shares
by 10.00 am (London time) on 13 November 2013
Latest time for receipt of Tender Forms for certificated shares
by 1.00 pm (London time) on 13 November 2013
Record Date for the Tender Offer
5.00 pm (London time) on 13 November 2013
Shareholders' Meeting to approve De-listing
5.00 pm (Beijing time)/ 9.00 am (London time) on 14 November 2013
Announcement of results of the Tender Offer and Shareholders' Meeting
14 November 2013
CREST Account credited with Tender Offer proceeds
21 November 2013
Dispatch of cheques for Tender Offer proceeds
21 November 2013
Last day of trading of Ordinary Shares on AIM
21 November 2013
Ordinary Shares de-listed from AIM
22 November 2013
CREST facilities for Depositary Interest Holders cancelled
22 November 2013|
|lqs 23 Oct'13 - 10:57 - 1138 of 1141 0 0
If you buy now at 2.25p you get 2.5p back in a month on 21 novemeber.
Where do you get that date from? The proposed delist is 22 November but I can't find any indication of when the tender proceeds would be paid.|
|Masurenguy - 11 Apr'11 - 989: Given the receivables issue, the share price has been stuck in a 20p - 25p range over the past 15 months so I took profits and sold my residual holding @21p last week. Todays announcement only adds to my other suspicion that they could delist in due course with unpredictable exit values for shareholders at that time.
My commiserations to all current shareholders. This was one of the two major reasons why I sold out 30 months ago after the CEO increased his holding to 44%. It took much longer to reach this point than I
had envisaged but sadly it ultimately still came to pass.|
|Is the Board's favourite song 'Love me tender' ?|
The Board recognises that not all Shareholders will be able or willing to continue to own Ordinary Shares following the De-listing. Although it is under no formal obligation to do so, the Board is therefore arranging for the Company to provide the Tender Offer Shareholders with the opportunity to sell Ordinary Shares held at the Tender Offer Record Date by means of a Tender Form (in the case of Tender Offer Shares held in certificated form, that is, not in CREST) or by TTE Instruction (in respect of Tender Offer Shares held in uncertificated form, that is, represented by Depositary Interests in CREST).
The maximum aggregate number of Ordinary Shares which may be purchased in the Tender Offer is 17,121,766 Ordinary Shares representing approximately 23.52 per cent. of the issued Ordinary Shares. The price to be paid for each Ordinary Share subject to the Tender Offer is 2.5 pence.
A Tender Offer Shareholder may tender up to all of their holdings.
The Company has received irrevocable undertakings in respect of their entire holdings from SecuLine Technologies Inc. and other persons currently beneficially owning 55,686,234 Ordinary Shares in aggregate, representing approximately 76.48 per cent. of the current issued Ordinary Shares, that they will not participate in the Tender Offer in respect of those Ordinary Shares. Details of the undertakings obtained are set out in the table below:|
|If you buy now at 2.25p you get 2.5p back in a month on 21 novemeber. You can tender all your shares because 76% have agreed not to tender any shares. 10% in a month isn't bad.|
|I'm surprised to see a tender at well below the share price at the time of announcement. I've seen plenty of these Chinese takeaways before but even when buying well below NAV they always gave a little something to sweeten it. A tender at around 60% of current share price is disgraceful. There ought to be a law.
edit: I have no interest here (used to long ago) but it's been on my watchlist.|