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CTV Cng Travel

14.00
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Cng Travel LSE:CTV London Ordinary Share IE00B00VVP40 ORD EUR0.0125
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 14.00 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Cng Travel Share Discussion Threads

Showing 1276 to 1299 of 1325 messages
Chat Pages: 53  52  51  50  49  48  47  46  45  44  43  42  Older
DateSubjectAuthorDiscuss
21/6/2007
12:00
Not quite Katylied. If the offer succeeds then you will get your 14.5p. If the offer lapses then you are entitled to accept any rival offer. You can't obviously sell in the market in the meantime though. Hopefully the rival bidder will come out of the woodwork soon and put 16.5p on the table. If they don't then I will also be accepting the offer at 14.5p.
nickcduk
21/6/2007
11:53
But are they not now locked out from dealing?
If the share were to now advance on any new
speculation, they wouldn't be able to sell
at a higher market price...

katylied
21/6/2007
06:48
Hardly surprising so few took up the offer without waiting for the potential rival bidder to declare their hand. All those worried about having their shares accepted for the offer can breathe a sigh a relief.
nickcduk
21/6/2007
06:32
Yes, but if Selftrade did in the future put advices in people's own in boxes and people ignored them for 7 days then I don't see they would have any complaint.

To stress - I'm not talking about past cases, only future policy, and I don't hold CNG

buffin
19/6/2007
08:03
Hmmmm... but IMO the whole premise here is wrong.
Selftrade should not (without explicit consent) be
appointing themselves proxy for the shareholder.
How they give notice, is really not the point...

katylied
19/6/2007
07:41
Occasionally I have had communications in my own in-box from Selftrade saying an important message is waiting for me in my inbox with them. (It hasn't said what it is, but you assume that it's time limited.)

That seems to me

- good practice
- perfectly adequate
- easy to implement.

Sadly I don't recall which were the shares concerned (I don't hold CNG.)

I think they should do this with every offer decision. When the originator in Selftrade puts the bulk message into holders' Selftrade in boxes, there should be a box they can tick which sends notifications to holders' own emails.

Hope this helps.

BTW, TMF has a Selftrade board where I believe someone from Selftrade responds to queries. I haven't looked to see if this issue has arisen there.

buffin
19/6/2007
06:12
The broker at Sippdeal did not accept the offer. Their policy
was that they required explicit instruction, unless the offer
was unconditional (which I think means, where the 80% takeup
had already been achieved). That seems to me, the proper
way to behave. IMO Selftrade need a good slapping...

Obviously, the problem with Selftade's internal e:mail system
is that you must regularly log into your account to read it.
Generally people log in to their broker, only when they
want to deal, so it is pretty much guaranteed that many
will fail to spot a key message, on time. I really can
not see any justification, for Selftrade not using
a client's regular (as opposed to internal)
e:mail address, as well...

katylied
18/6/2007
21:38
I had a similar situation with Selftrade previously. I held a stock which was undertaking an open offer. I rang up to ask them when I would get further details of the corporate action. The idiot told me I would be sent them through the post in due course. I didn't receive anything and so rang up to ask why and they told me that they had sought instructions via internal email. It was too late at that stage to take up my rights and it cost me a fair whack. I didn't push the matter too hard but I was quite obviously misled as Selftrade admitted to after they had listened to the tapes.

They did point out that I had chosen for all correspondence to be sent via email rather than the post. You can choose for all contract notes etc to be sent in paper form if you so wish. I would guess most of you don't choose that option for convenience purposes. Its a lesson you will have to learn I am afraid for future reference. I myself emailed selftrade and told them I didn't wish to accept offer at this stage but reserve the right to change my mind if the offer is extended.

nickcduk
18/6/2007
18:02
Robsy2 and anyone else with Selftrade.

You need to contact Katy Ashton-Jones at selftrade and advise her that they have failed to make 'reasonable endeavors' to request your action on CNG Travel. They used their in house proprietary email system on the 6th June advising that no response by the 13th June would result in them accepting the offer on your behalf.

I have contacted her this evening, as have a number of other people, advising the situation is unacceptable.

Selftrade is the largest online broker and this negligence could result in millions of CNG shares being mis represented as accepting the offer.

Selftrade's system shows them a customer has not read their messages. Therefore, they cant hide behind terms and conditions. 7 days and one in house email does not constitute 'reasonable endeavors' to contact a customer.

I have already had £40k effectively stolen by CNG's management and large sharholders and I'm not sitting back while Selftrade's negligence contributes to more thieving. I will be contacting the Mergers and Aquisitions board tomorrow monring to advise of the situation. I suggest you all do the same.

First off, anyone affected should contact Katy at Selftrade immedately.

tifosigb
18/6/2007
09:14
Selftrade sent out a message seeking instructions for accepting the offer or not. If you didn't reply they put your shares forward as being in favour of accepting. Thats why they have probably disappeared.
nickcduk
18/6/2007
09:08
But has the cash appeared? Your shares would probably be
committed, should the MBO offer go unconditional.
However, I was not aware that it had?...

katylied
18/6/2007
08:49
my holding has dissapeared off my selftrade screen, anyone got the same problem ?whats happening?'
robsy2
15/6/2007
14:15
Well... if anyone believes that CTH will pull
it off at 14.5p, now is probably a good time
to jump ship...

katylied
15/6/2007
13:56
How many of us would rather sell at 16 than let the current management have them for 14 ... the cynic in me thinks the management are keeping their city chums sweet by buying more at 16p from them, and thereby getting the 80% through the back door route.
the drewster
15/6/2007
13:44
Bid reaches 14.5p and cantor sells a few for 16p.
So... who is buying at 16p, when there is only
14.5p on the table?...

katylied
14/6/2007
14:38
Seems they have managed to scare one offerer fro the party, one down, one to go, and then we either get to give the management team the company for a song, or we are in for the long haul recovery (assuming they don't take the hump!)
the drewster
10/6/2007
20:38
That is also my understanding. They already have 40%, but
they need 80%. Much of that will be small shareholders
and at the current MBO offer, apathy/disgust may
prevail. So, this could only be round-1...

katylied
10/6/2007
19:48
TDW default action is "Do Not Accept", so there's still a chance management wont get away with such a poor offer.
the drewster
08/6/2007
11:07
Katylied - Do you think there is a strong chance the offer will be rejected? I would imagine that when push comes to shove shareholders will accept the offer rather than be left in an illiquid stock.

Im much more hopefully that a rival offer comes off. Its an attractive business in a sector where lots of consolidation is taking place. The fact that 2 parties were keen to get a piece of the action suggests we are likely to get an offer above 16.5p.

I was long ICM recently around 280p when they announced they had received an approach. The first bid was for around 300p. Then another party joined the bidding as well as management backed vehicle. Management offered 475p and Phoenix IT eventually won with a 505p bid. Im hoping we get something similar here.

nickcduk
08/6/2007
10:52
I think everyone agrees the price is too low, the risk is that the managers spit-the-dummy-out if their offer is rejected, and never let the company reach it's potential at which point it will trade at, or be bought out at, a much higher level.

Unmotivated management team = game over in this situation in my book.

the drewster
08/6/2007
10:27
The risk is that nobody else makes
an offer and the MBO is rejected..

katylied
08/6/2007
10:18
I received an email from selftrade asking for instructions. Interesting to see there is plenty of stock on offer at 14.25p. Im tempted to pick a few up on the basis that the worst case scenario is we get 14.5p and so a break even trade. The flipside is we get 16.5p+ with the potential for even more in a relatively short period of time. I think its just a case of deciding how much more to add to my position.

Anyone else tempted?

nickcduk
07/6/2007
11:16
I have yet to receive a form to vote on the 14.5p cash/share offer.

Am I alone on this, has everyone else received something already?

the drewster
05/6/2007
15:37
drewster nicely put,i think if we end up having to sell out lets not sell it to the management buy out team!
lingy
Chat Pages: 53  52  51  50  49  48  47  46  45  44  43  42  Older

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