Eurasian Share Discussion Threads

[shugsy] 03/6/2013 07:15

Looks like a very weak open coming so we might see a dip here.

[noddy31] 02/6/2013 23:58

Bidders don't ask for further time to improve their bid, unless they intend to make a GOOD AND FINAL OFFER. One that will be swallowed whole by the BOD and PI's.

Hold on to you hats, this one is heading towards £3+

[hvs] 02/6/2013 20:03

Thieves always get more TIME

Thats how the CITY works.

[tanzz786] 02/6/2013 19:10

I am definitely grabbing a whole bunch on Monday as I did on Friday...

[karmastuartra] 02/6/2013 17:16

Think i will grab a few more monday,no doubt the city in its infinite wisdom
will short enrc and drive the share price down even more,nice oppoturnity for me!!

[careful] 02/6/2013 17:08

that guy kerimov wrote to the authorities demanding a 400p offer i believe.
no doubt aiming high.
but it would be odd if there was no increase at all in the original low ball offer.

original offer = 175p + .231Kaz shares.

depends upon the varying value of the kaz shares.
close friday = .231 x 3.263 = 69.5p.

total 175+70 = 245p.

to make matters complicated if the cash portion is increased that would suit Kaz and the Kaz share price would rise.

[tanzz786] 02/6/2013 16:48

£2.85 Cash plus 80p shares = £3.65

[tanzz786] 02/6/2013 15:35

Financial Times: ENRC founders request extension on deadline to submit takeover

http://www.ft.com/cms/s/0/e8099dc8-cb70-11e2-b1c8-00144feab7de.html#axzz2V4MglLRS

[karmastuartra] 02/6/2013 14:48

I think an offer of 2.00 cash and 75p in shares will be offered,and even that
not generous by a long stretch,given the flotation price and
the assets enrc own and turnover that is generated.

[careful] 02/6/2013 10:13

i thought the telegraph article was more detailed and better informed.
It said we could hear today of an extension.
like karma, i expect an improved offer, although not by much.

the trouble is that the markets could roll over during the next few weeks with some special situations like kaz and enrc being shorted by the usual suspects.

i will hold until the end, i always knew it was a speculative position.

[karmastuartra] 02/6/2013 09:45

How can the telegraph print the headline "bid gets more time" when it has yet to
Be confirmed? No word has come from anyone involved in the bid,so why guess?
Also the city didn't know the first bid would be so low,so how do they
Know there won't be an improved offer?
Personally i think an improved offer will be forth coming,so I will stick it out.

[tanzz786] 02/6/2013 09:06

Sunday Times:

Oligarchs plead for more time on £3.3bn ENRC bid

http://www.thesundaytimes.co.uk/sto/business/Industry/article1267990.ece

[tanzz786] 01/6/2013 23:20

ENRC bid gets more time
The independent committee of the board of troubled miner ENRC is expected to allow a consortium led by its founders more time to produce a firm takeover bid.

http://www.telegraph.co.uk/finance/newsbysector/industry/mining/10093688/ENRC-bid-gets-more-time.html

The Sunday Telegraph understands that the committee, chaired by Mohsen Khalil, the former World Bank director, will confirm to the Takeover Panel that it is willing to give the bidders, led by Alexander Machkevich, as much as three weeks to finalise their plans.

A statement from the panel could come as early as Sunday , ahead of Monday's existing 5pm deadline. It is understood that the consortium, which controls 56pc of ENRC's shares and is being advised by Société Genérale, has done enough to prove to the independent committee that it is serious about making an offer.

Detailed legal work required to place the holdings of the four separate investors who make up the consortium - Machkevich, his fellow founders Alijan Ibragimov and Pathokh Chodiev, and the Kazakh government - into one vehicle has been completed. The consortium is believed to be ready to begin due diligence.

Mr Khalil's committee instructed bankers Lazard and Credit Suisse to develop valuations for the company, which were believed to have been completed last week.

Meanwhile Pirc, the shareholder advisory group, urged independent shareholders to vote against the re-election of every director but one at ENRC's annual general meeting on Wednesday.

[racg] 01/6/2013 21:46

I m sure the IB will be swayed!

[karmastuartra] 01/6/2013 19:48

INDEPENDENT BOARD ACT FOR THE MINORITY,NO MORE TIME,TRIO PUT UP OR SHUT UP!

[careful] 01/6/2013 17:59

their usual trick is to buy up these assets then sell them at a profit to ENRC.
They have extracted hundreds of millions using this scam.
There mut be a way of stopping them, so blatant and dishonest.

How these legal moves will effect us minority shareholders and this current bid is difficult to work out.

I note that the above article is dated May 1st so it is an old story.

[tanzz786] 01/6/2013 15:25

Let us hope that the Independent Board behaves in a manner that ensures probity - the logical and ETHICAL response is a REFUSAL to Extend the deadline

ENRC is a solid company with sound fundamentals - the worst case scenario is a fine from the SFO of circa £20 Million IF ENRC is found to have behaved incorrectly - this is a miniscule proportion of the value of the company

IF the company is sold to the founders, the loss to minority shareholders is in the Billions...

Independent Board please act in the interests of the minority shareholders - this is your opportunity

[karmastuartra] 01/6/2013 09:58

Well done to the city and press for having no spine
And appearing to support the bid,god help the
Stock market if footsie 100 company's can be stolen from
Investors in this less than fair manner.
At least the board have some backbone and ordering a
Proper true valuation of this mining giant.

[jascat] 01/6/2013 09:06

It appears the buyout mob need another three weeks to further decimate the share price

[rees4] 31/5/2013 13:54

comet. enrc is not being relegated from the footsie but stoxx Europe 600 index.