Central African Mining Share Discussion Threads

[dealy] 18/9/2009 12:15

How many shares have been bought now at 20p?

[strangeglow] 18/9/2009 12:13

davius my guess is the sellers at 18 are t20's rolled over.they are getting out at a loss rather than have to find cash they dont have to meet the contract.

feel sorry for them?.....nope

[thebull3] 18/9/2009 12:10

looks a done deal to me davius, await an rns, cant see this staying at 18p for much longer

[davius] 18/9/2009 12:04

I'm not seeing that one thebull. That would be another 7.5% of the company, £43m worth.

This is SO a done deal, it makes me wonder why we still have sellers at 18p. There must be an aweful lot of short term money tied up here, or perhaps it's mainly those in from a lower level.

[wizzkid211] 18/9/2009 12:01

Central African Mining & Exploration Company PLC - Capital Group Companies Inc - Rule 8.3- Central African Mining Exploration Compa

RNS Number : 2743Z
Capital Group Companies Inc
18 September 2009



FORM 8.3




DEALINGS BY PERSONS WITH INTERESTS IN SECURITIES REPRESENTING 1% OR MORE

(Rule 8.3 of the Takeover Code)



1. KEY INFORMATION




Name of person dealing (Note 1)
The Capital Group Companies

Company dealt in
Central African Mining & Exploration Company plc

Class of relevant security to which the dealings being disclosed relate (Note 2)
Ordinary Shares

Date of dealing
17 September 2009




2. INTERESTS, SHORT POSITIONS AND RIGHTS TO SUBSCRIBE



(a) Interests and short positions (following dealing) in the class of relevant security dealt in (Note 3)





Long


Short




Number
(%)
Number
(%)

(1) Relevant securities
0
0.00%
N/A



(2) Derivatives (other than options)
-


N/A



(3) Options and agreements to purchase/sell
-


N/A



Total
0
0.00%
N/A







(b) Interests and short positions in relevant securities of the company, other than the class dealt in (Note 3)




Class of relevant security:
Long


Short




Number
(%)
Number
(%)

(1) Relevant securities
N/A


N/A



(2) Derivatives (other than options)
N/A


N/A



(3) Options and agreements to purchase/sell
N/A


N/A



Total
N/A


N/A







(c) Rights to subscribe (Note 3)



Class of relevant security:
Details

N/A
N/A





3. DEALINGS (Note 4)



(a) Purchases and sales



Purchase/sale
Number of securities
Price per unit (Note 5)

Sale
215,864,015 shares
0.2000 - GBP








(b) Derivatives transactions (other than options)




Product name, e.g. CFD


Long/short (Note 6)
Number of securities (Note 7)
Price per unit (Note 5)

N/A
N/A
N/A
N/A


(c) Options transactions in respect of existing securities

(i) Writing, selling, purchasing or varying



Product name,e.g. call option
Writing, selling, purchasing, varying etc.
Number of securities to which the option relates (Note 7)
Exercise price
Type, e.g. American, European etc.
Expiry date
Option money paid/received per unit (Note 5)

N/A
N/A
N/A
N/A
N/A
N/A
N/A





(ii) Exercising




Product name, e.g. call option
Number of securities
Exercise price per unit (Note 5)

N/A
N/A
N/A





(d) Other dealings (including new securities) (Note 4)



Nature of transaction (Note 8)
Details
Price per unit (if applicable) (Note 5)

N/A
N/A
N/A





4. OTHER INFORMATION




Agreements, arrangements or understandings relating to options or derivatives




Full details of any agreement, arrangement or understanding between the person disclosing and any other person relating to the voting rights of any relevant securities under any option referred to on this form or relating to the voting rights or future acquisition or disposal of any relevant securities to which any derivative referred to on this form is referenced. If none, this should be stated.




..............................................................................




..............................................................................







Is a Supplemental Form 8 attached? (Note 9) NO






Date of disclosure
17 September 2009

Contact name
Vivien Tan

Telephone number
[phone]

If a connected EFM, name of offeree/offeror with which connected
N/A

If a connected EFM, state nature of connection (Note 10)
N/A


Notes

The Notes on Form 8.3 can be viewed on the Takeover Panel's website at www.thetakeoverpanel.org.uk





This information is provided by RNS
The company news service from the London Stock Exchange

END

[thebull3] 18/9/2009 11:59

another 215m at 20p

[davius] 18/9/2009 11:51

Darklord, I posted:

> but a bid only has to be tabled when the potential bidder hits 30%

I didn't say they have to get to 30% first. The point I was making was that IF the Prarie and TT shares have been bought by ENRC, they are already over 30% so will HAVE to announce a bid.

[strangeglow] 18/9/2009 11:47

you forget the third option....personally if enrc dont bid I would be confident going forward that camec has some good resources to ultimately make me money.

if they do walk,then I will be stopped out and if the next support is reached at 10p then I would see that as a bargain entry price longer term.

So I dont particularly care what happens here.

[dealy] 18/9/2009 11:46

Personally I think the mm's know that somebody can't wait to long and is selling. In light of that they are taking advantage of the situation and just paying 18.25.

Could be wrong though.

But those huge trades going through at 20p says 20p to me.

[jac1104] 18/9/2009 11:29

dealy i concur - lets put it this way - if it was a sure thing the bid offer will be higher and not sitting on a 9% discount to possible 20p cash offer by enrc - the probability is there will be an official bid at 20p but until it happens, i am not remortgaging the garden shed ....

[dealy] 18/9/2009 11:26

Nobody said there is a higher bid coming in. That is speculation. Selling provides certainty to the buyer. It's give and take. It's not so unusual. It's not a "value" competition where we all have to guess the fair value. It's the reality of risk/reward, certainty versus potential.

[geng] 18/9/2009 11:20

Dealy - more importantly someone is selling at 20p.

This kind of makes it game over for me. Why sell at 20p if there is a higher bid coming in?

[jac1104] 18/9/2009 11:14

far from sounding like a party pooper, a word of caution - nothing is in the bag and it ain't over til the fat lady sings - enrc has not officially tabled a bid at 20p cash - anything can happen between now and the board meeting on monday -

[darklord2] 18/9/2009 11:13

If 20p is set in stone then big investors have a no brainer buying at 18.25p

[darklord2] 18/9/2009 11:12

And bid quickly lets wait and see..

[strangeglow] 18/9/2009 10:58

one things for sure if the alleged other parties want to get in they will have to make a bid or that's it.

like I said happy with 20p but...................

[darklord2] 18/9/2009 10:55

Davius i must disagree you dont have to hit 30% to make a bid after all Kraft dont hold 30% of Cadbury, you can make a bid holding just a single share. I assume what you mean is that once you hit 30% you HAVE to make a bid.

[geng] 18/9/2009 10:45

Assuming the takeout would be cost free at 20p and is now looking certain

You can beat the Building society and possible 'W' Market correction

ie
Buy 100000 at £18,510 inc costs 18.41p buy price - can some times get 18.3p

Then Sell at 20p £1500 profit in a few weeks, possibly less

Edit - I know - Boring but certain

[dealy] 18/9/2009 10:30

under LSE takeover rules the change in holdings will have to be reported by noon today. If not we should take some legal action for the laugh.

[davius] 18/9/2009 10:25

wizzkid takes the credit for first spotting the big trade.

geng, it was at 20p, second column...

[geng] 18/9/2009 10:22

Davius - Thanks - looks like a done deal now 20p - what a shame.

Can't see why he would have sold to anyone else at the same price without some sort of back hand going on. Although there is no price reported?

Could they have changed hands at a higher price? There will no doubt be an announcement at some point

[davius] 18/9/2009 10:22

DarkLord, those are the rules, but a bid only has to be tabled when the potential bidder hits 30%, hence it can be many months between an initial indicative offer and shareholders finally getting ther hands on the cash. Which may well explain why 16m shares are still offer side of the order book, though to be fair something like 4m of those are at over 20p.

Short term money will have to take 18.5p. Long termers 20p.

(though with a board meeting scheduled Monday to quite possibly 'rubber stamp' the deal I think the long termers won't have that long to wait)

[dealy] 18/9/2009 10:21

Davius

Well spotted and well posted. If that's the case this is a done deal at 20p and we'll see the offer come out next week along with a board recommendation.

The language used by the Camec COO this week in the press about ENRC being a good fit was a clear signal. Also, I am pretty sure that ENRC could not have bought shares if the comtemplating an offer without telling the market in advance of their intentions which they did this week.

All makes sense. 20p. Ok for me to be honest.