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Fdm Share Discussion Threads
Showing 576 to 593 of 600 messages
How sickening. We knew at the time that Mr Flavell was ripping off shareholders, but he used underhand tactics to effectively force shareholders (many of whom were family members & former colleagues!) to capitulate.
I wouldn't touch this company with a bargepole, knowing the modus operandi of the guy running it.
We've got long memories in the small caps space, so if they do come back to the AIM market, they will get a very hard time from those of us who remember how we were treated last time.
Also bear in mind that a leopard never changes its spots. So, as shareholders were ripped off once, rest assured that sooner or later, they will probably be ripped off again.
Thanks for flagging it up.
|We fought long and hard on this one and did not want to sell our shares back in 2010. Here is further proof that we were mugged ...
|It didn't sell|
|What a bunch of C¥#+$....|
|Pauly Pilot I think your personal attack on Mr Flavell is outrageous. I wonder if you have the balls to stand next to him and say that?|
|... Those who believed real value was £2 and north ahve been comprehensively proved wrong. ...
I believed that, and still do. Have I been proved wrong? Well, that's a matter of what you mean by "real value" and "wrong"... But I really don't care that much: the real test of whether I was right or wrong was whether I made a decent profit on the investment, and by that standard I was right: a 20%ish gain over a few months is not to be sneezed at!
Any theorising about whether I should instead have got a 60%+ gain is just that - theorising. One of the first lessons of share investment is that things don't always go as they should!
|lol! and you think anyone cares? When this comes to market next, and it will, it will be bigger and mor expensive. Sometime in the next 3-5 years it will be sold either to the trade or floated on the market. The market has spoken the price was the price thouse in at the float made a killing. Those who believed real value was £2 and north ahve been comprehensively proved wrong. Long memories? Long pockets more like at sometime in the future!|
I had the same message as well but the cash was there later on in the day, hopefully you are at a different end of the alphabet from me and yours will be there shortly ;-)|
|I've had mine credited by Selftrade FWIW.
Hmm... I've had a secure message from Selftrade, dated yesterday, telling me that the proceeds will be credited "shortly" - but no signs of it actually happening yet... :-(
|Thanks guys and will chase my broker...I am looking to add to my MUBL holding whilst they are still on a p/e of 4 and with the ex divi date next wednesday plus trading update in two weeks. The dip on monday has come perfectly but funds from here would be nice.|
|Hargreaves Lansdowne credited my SIPP yesterday.
I was late sending my Cert off and they only got it yesterday, and as I havent seen a postie for about 3 days I doubt I will get my cheque this week.|
I've had mine credited by Selftrade FWIW.|
|Has anyone received their cash yet ??
I am waiting and anxious to get mine recycled.|
|Yes. Although the announcement doesn't say who sold the shares to Astra, I think it's clear from the quantity that it can only be Rex&Co - i.e. basically they've neatly bid the price up and taken their profits. And it's very unlikely that anyone will launch a higher bid now, as Astra now clearly have well over 50% actual ownership. I.e. game over.
Today's follow-up announcement correcting the exact figure bought shows (I think) just how important it can be to be clear whether "thirty" or "thirteen" was said!
|Hmm... Interesting calculation. I've actually got a noticeable fraction of those 597,386 shares - about 6% of them.
I'm still going to await further developments. The main possibilities I see for the next week or two are:
* Rex&Co make a bid themselves, which would almost certainly be at 165p or above in order to release Ennismore from their irrevocable undertaking. If this happens, I definitely want my shares not to be tied up in escrow with Astra entitled to decide to make the offer unconditional.
* Rex&Co bid the market price up a bit more, and Astra doesn't respond - I want to keep my shares free to sell if this happens.
* Rex&Co bid the market price up a bit more, and Astra increases their offer again - no harm done by delaying my acceptance into early January if this happens.
* Rex&Co accept Astra's offer, in which case Astra almost certainly declare the offer unconditional and no harm is done by delaying my acceptance into early January beyond possibly a very small amount of "time value of money" due to getting paid a week or two later than I might have been.
* Rex&Co do nothing more - again, no harm done by delaying my acceptance into early January.
Overall, it's basically a "heads I win, tails I draw" play - which is good even if I think the coin is biased against heads... Which I do, by the way: if Rex&Co's plans include making a bid themselves, they've left it very late, and your calculation says that they cannot really strengthen their position much further with more market purchases - there simply aren't enough shares left on the market to make much of a difference. Basically, we're rapidly reaching "make your mind up" time for Rex&Co: whether to accept Astra's bid and take their profits, bid themselves, or hang on to their stake, preventing Astra from taking 100% ownership but not from taking full control. And for Astra, the last two present them with another "make your mind up" decision, of whether to increase their offer again, lower their acceptance condition and make the offer unconditional, or do nothing.
But I'm definitely inclined now to accept the current offer by the early January deadline (the company deadline is January 6th, broker deadlines are likely to be a few days earlier but I don't know them yet) if nothing has happened by then.
|So with 23,220,000 in issue
Astra now have (or have irrevocable undertakings for) 19,166,574
Rex&Co have 3,456,040
That leaves 597,386.
Which are probably the PI's who have yet to decide whether to accept, or believe Rex&Co may keep saying no and scupper the deal so are keeping their options open to sell in the market. Or whos acceptances are stuck in the christams post, or are away on hols/dont understand the paperwork etc.
As Astra haven't (?yet) declared a lower acceptance limit it looks to me like they are determined to get the 90% - I'm sure Rex&Co are enjoying this.
With EPS of 15.8p this is surely worth much more to Astra than 150p, hopefully Rex&Co. will hold out for 200p I'm sure Astra would pay that.
I'm getting seriously tempted for a small top-up. Does anyone have L2 and can tell me what is available to buy ?|
re the 8.1 notice - I think that Rex is not an offeror, it's because with his conditional purchase taken into account, he would be over 20% ownership, which makes him an "associate" of FDM which gives rise to reporting trades under Rule 8.1 not 8.3.
Thanks - yes, that makes sense.
RBCRBC, I don't think Astra can quite go for delisting yet - they have to actually have 75%, not just effectively have 75%, and it may well be only the shares they have acceptances for that immediately and automatically fall into their hands if they lower the acceptance condition. But I agree that it's looking increasingly likely that they will succeed.