Dowgate Capital Share Discussion Threads

[donaferentes] 23/6/2009 13:12

The bid price of Astaire's stock at 4.5p values DGT at 7.05(basic) and 7.35(alternative)

[yohoho] 22/6/2009 18:04

Ah well, we all win then!

[warpedone] 22/6/2009 17:28

yohoho - great timing on that message (7154), bid from Blue Oar is in at 7.5p

[propane] 22/6/2009 14:49

Might have to delay dgt's purchase due to an unexpected expenditure!!..............




Blue Oar publicly censured and fined £225,000 over Worthington Nicholls role


22 June 2009

Blue Oar Securities, the AIM Nominated Advisor that last week changed its name to Astaire Securities, has been fined £225,000 and publicly censured by the London Stock Exchange over its conduct.

These sanctions were imposed after Blue Oar was found to have breached the AIM rules in relation to its conduct as Nomad to an AIM company, Worthington Nicholls Group plc - now Managed Support Services plc between June 6, 2006 and June 29, 2007.

The fine and public censure were imposed because Blue Oar was found to have failed to adequately assess the company's appropriateness for AIM prior to admission. It was also found to have failed to carry out appropriate due diligence and to advise the company properly regarding certain disclosures at admission.

In addition, the London Stock Exchange, said the firm had failed to advise the company properly in respect of certain announcements after admission and failed to liaise properly with the Exchange.

Nick Bayley, Head of Trading Services at the London Stock Exchange, said: "Nomads have key responsibilities to assess a company's suitability for AIM and to provide ongoing advice and guidance to their AIM company clients.

"It is essential for maintaining investor confidence that these responsibilities are properly fulfilled before and after an admission to AIM. The Exchange will therefore not hesitate to take disciplinary action against a Nomad that fails to fulfil these responsibilities."

In reaching today's public censure and financial penalty, the Exchange said it acknowledged Blue Oar's co-operation during the investigation.

[propane] 22/6/2009 13:53

Guess you lost your shirt on this one yohoho, you cant even afford the subscription to remain a 'bluey'

lol

[davidosh] 01/6/2009 18:18

When is the Agm ??

[davidosh] 22/5/2009 12:39

propane....it looks to be a battle between the original DGT management wanting to stay and keep their position whilst the acquired hands all looking to handover to Blue Oar....bit of a knife in the back from Dru who was handed his shares on a golden plate and now happy to deliver the company to a competitor in return.

[propane] 22/5/2009 12:26

The board of Dowgate believes that the level at which Blue Oar is attempting to acquire your Company is opportunistic and undervalues Dowgate.



Lol, suddenly its 'YOUR' company......you wouldnt have thought it from managements previous display of contempt for its shareholders!

Seems like TR doesnt want to be relieved of his golden goose too readily.

[oblique] 22/5/2009 12:22

Re: Offer update

TIDMDGT TIDMBLUE

RNS Number : 7011S
Dowgate Capital PLC
22 May 2009

?
Dowgate Capital Plc ("Dowgate" or the "Company")

Re: Offer update

The board of Dowgate notes the earlier announcement today from Blue Oar Plc ("Blue Oar") in respect of irrevocable undertakings it has received from two shareholders of Dowgate, who in aggregate are interested in 16.9% of the Company's issued share capital, to accept an offer from Blue Oar, if made, pursuant to Rule 2.5 of the City Code.

The board of Dowgate believes that the level at which Blue Oar is attempting to acquire your Company is opportunistic and undervalues Dowgate.

Shareholders should note that Blue Oar announced on 16 April 2009 that it was considering its position regarding a possible offer for Dowgate. However, to date, no firm offer has been made by Blue Oar and there can be no certainty that an offer will be made.

A further announcement will be made in due course.In the meantime, shareholders are advised not to take any action.

For further information contact:

+---------------------------------------------+-----------------------+
| Dowgate Capital plc | |
+---------------------------------------------+-----------------------+
| Tony Rawlinson, Chairman | Tel: [phone] |
+---------------------------------------------+-----------------------+
| Neil Badger, Director | Tel: [phone] |
+---------------------------------------------+-----------------------+
| | |
+---------------------------------------------+-----------------------+
| Grant Thornton UK LLP | Tel: [phone] |
+---------------------------------------------+-----------------------+
| Financial Adviser and Nominated Adviser to | |
| Dowgate | |
+---------------------------------------------+-----------------------+
| Philip Secrett | |
+---------------------------------------------+-----------------------+
| Colin Aaronson | |
+---------------------------------------------+-----------------------+
| Salmaan Khawaja | |
+---------------------------------------------+-----------------------+


Dealing Disclosure Requirements

Under the provisions of Rule 8.3 of the Takeover Code (the "Code"), if any person is, or becomes, "interested" (directly or indirectly) in 1% or more of any class of "relevant securities" of Blue Oar, or of Dowgate, all "dealings" in any "relevant securities" of that company (including by means of an option in respect of, or a derivative referenced to, any such "relevant securities") must be publicly disclosed by no later than 3.30 pm (London time) on the London business day following the date of the relevant transaction. This requirement will continue until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the "offer period" otherwise ends. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire an "interest" in "relevant securities" of Blue Oar or Dowgate, they will be deemed to be a single person for the purpose of Rule 8.3.

Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevant securities" of Blue Oar or of Dowgate by Blue Oar or Dowgate, or by any of their respective "associates", must be disclosed by no later than 12.00 noon (London time) on the London business day following the date of the relevant transaction.

A disclosure table, giving details of the companies in whose "relevant securities" "dealings" should be disclosed, and the number of such securities in issue, can be found 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

[oblique] 22/5/2009 12:19

RNS Number : 6873S
Blue Oar PLC
22 May 2009

?
Blue Oar PLC

Possible offer for Dowgate Capital PLC

Offer update

For immediate release
22 May 2009

The board of Blue Oar PLC ("Blue Oar") announces that it has received irrevocable undertakings yesterday in respect of a possible offer by Blue Oar for the whole of the issued share capital of Dowgate Capital PLC ("Dowgate") (the "Proposal").


In total, Blue Oar now either owns or has irrevocable undertakings over 27.8% of the issued share capital of Dowgate.


The irrevocable undertakings commit the signatories to accept the Proposal whether structured either:
* by way an offer of not less than 6p in cash for every Dowgate share (the
"Offer") whether or not such Offer is recommended by Dowgate's board, or
* by way of a scheme of arrangement which is recommended by the board of Dowgate,
whereby Blue Oar will offer 60p in cash and three new Blue Oar shares for every
ten Dowgate shares held (or, as an alternative, 15 Blue Oar shares for every 10
Dowgate shares)(the "Scheme").

It is emphasised that it is possible that the Proposal, whether made by Offer or Scheme, will not proceed and the irrevocable undertakings will cease to be binding as at close of business on 16 July 2009 if no firm offer announcement has been made in respect of the Proposal by that date. If an announcement committing Blue Oar to a firm Offer or Scheme is announced by 16 July 2009, the irrevocable undertakings will remain valid until such Offer or Scheme is withdrawn or lapses. The irrevocable undertakings continue to bind the signatories in the event of a higher offer.

The irrevocable undertakings were signed by the signatories in respect of their entire Dowgate shareholdings, set out with the percentages of Dowgate shares in issue, as follows:


NameDowgate Shareholding %
Clive Mattock 2,242,948
5.7
Dru Edmonstone 4,424,33311.2
Total6,667,28116.9


Blue Oar, which holds 4,316,794 Dowgate shares representing 10.9% of its issued share capital, is seeking the Dowgate board's decision whether or not it intends to co-operate with, implement and recommend the Scheme, which would result in additional consideration being paid. In the event that no such co-operation and recommendation is forthcoming, Blue Oar reserves the right, but has no obligation, to make the Offer.


The Offer, if made, would value each Dowgate share at 6p which represents a premium of 100% to the middle market price of 3p per Dowgate share as at close of business on 9 April 2009, being the dealing day before the commencement of the offer period. Based on the middle market closing price of 4.0p for a Blue
Oar share as at close of business on 21 May 2009, the Scheme would value each Dowgate Share at 7.2p (ie 6p in cash and 1.2p in Blue Oar shares) representing a premium of 140% to the middle market price of 3p per Dowgate share as at close of business on 9 April 2009.

A further announcement will be made in due course.

The persons who are responsible for this announcement are the directors of Blue Oar. To the best of the knowledge and belief of the directors of Blue Oar, who have taken all reasonable care to ensure that such is the case, the information contained in this announcement is in accordance with the facts and does not omit anything likely to affect the import of such information.

A copy of this announcement is available on Blue Oar's website at:


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

END

[saddembinladen] 19/5/2009 17:54

So dionis, the big question. How much do you think DGT is worth?

[davidosh] 19/5/2009 14:56

You can surely have an AGM with the advisors in the room and discuss everything in the year and the accounts without talking about a bid. We had exactly that at IBG two years ago without any problem. I want answers about last year as a shareholder. In any event any bid may not be forthcoming nor acceptable.

[dionis] 19/5/2009 14:23

Because the company is in an offer period, all logical chain of events are off.

[davidosh] 19/5/2009 13:57

Why will there not be one ? The year ended in December and the results were out a month ago. Last year the AGM was on the 3rd April so it should not be later than 3rd July and notices plus annual reports should go out 21 days before.

[dionis] 19/5/2009 13:44

If there is one...............July.

[davidosh] 19/5/2009 13:36

When is the AGM ?

[dionis] 19/5/2009 13:32

Come and ask me any question you like.

[davidosh] 16/5/2009 16:54

In 2002 he joined Seymour Pierce as head of corporate broking and in the same year he won the AIM Journalist of the Year Award. Following this, Dru joined Dowgate Capital as head of broking.


LOL....Is there an award for most expensive hire or disastrous AIM transfer of the year ?

[propane] 14/5/2009 10:36

yohoho - 11 May'09 - 15:40 - 7126 of 7137
Buyers are back. Does someone know something?
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yohoho, .....sellers are back. Does someone know something?