|That's not good, approx. how many did you tender, sitting on about three thousand shares myself, would like this wrapped up, as of yet not heard nowt, just keep waiting, I wish now I'd tendered them myself rather than through third party!|
|Anyone heard anything on this co. buyback of late, particularly Cestnous, 04.04 the date at which the supposed first tranche bought back by the co., silence thus far!|
|Had written them off Wormht, due to the scammy way the share buyout was conducted and as I made a small profit on the majority which I did sell, I'll just be glad to see the back of the rest of them!|
|Well we'll have an idea on Tuesday, SIV half-year results!|
|Perhaps you would like to comment Cestnous as you seem to be one of the few posters left here along with Bookmaker!|
|Difficult to know whether to accept that offer that has been posted, the deferred consideration payable by St. Ives at 7.5X Ebitda could be in the region £5/6mln, on the basis that the period up to 02.08.13. Amaze had operating profit of £511K, had they owned Amaze from beginning of period(six months I assume) it would have been £1.13mln., so what's it likely to be to 31.12.13, one assumes guys running HGV Ltd know that they will be due for a windfall so 55p per share looks on the soft side of generous, it's likely that in an organisation as bigs as SIV they have improved the performance of Amaze even in that short time through cross-selling of products - FOOD FOR THOUGHT!|
|No red herring and the statement that iii has not admitted to it is incorrect; they have to me!This received from iii secure messaging;
Dear Mr xxx
With regards to above corporate action, I have registered your instruction to tender all of your Hasgrove Limited shares at a tender price of 55 pence per share.
The tender offer is subject to scale-back.
Please allow 5 to 6 weeks after the closing date of this corporate action for your cash to be received.|
|Seems only Cestnous is aware of it, even III has not admitted to it!|
|Believe this offer is a red herring, co. has stated they have no knowledge of any tender offer for shares, has been clarified by the registrar.|
|I fully understand what you say Mick.., however this co. has made a further tender offer to acquire remaining shareholders holdings at a price of around 55p a share, this offer has been sent to certain broking firms and it appears not others, at least that is the case as I write, III being one of them that has received documents with the offer, there are other holders who have a right to tender their shares in the same manner, Capita say they were not aware of this offer, which is somewhat odd as it is the registrar who would normally be responsible for despatching these documents, hence other broking firms not so far receiving them.|
|bookbroker - I was left with shares after a screw-up from my broker and managed to sell them through James Sharp via a matched offer....I forget now how much (I would guess about 50p).|
|Anyone else here hold shares in HGV. that find themselves in a similar position?|
|III say that Hasgrove notified them directly, by-passing the registrar, not sure about the legality of that as far as FSA, hey ho, will wait for Capita to contact me!|
|Bizarre, Capita Regitrars not aware of the offer, neither Barclays!|
It's a corporate action so you should be able to trade through any broker.
"This is to let you know you have a Corporate Action on one of your holdings.
Security: HASGROVE ORD 10P
Description: Hasgrove Limited
Tender Offer Terms
You may tender some or all of your shares at a tender price of 55 pence per
The tender offer is subject to scale-back.
Actions required by you
As this is a voluntary event, we require an instruction from you.
Should you wish to tender your shares, please provide us with your
instruction by 15:00 on 10 March 2014. Please specify the number of shares
you wish to tender.
If you do not wish to participate or we do not receive an instruction from you
by 15:00 on 10 March 2014, we will take no action on your behalf.
You can notify us of your instruction by calling us between 7.45am 9pm
Monday to Friday. Alternatively, you can send us a secure message. If you
chose the secure message option, please select Corporate Action from the
drop down listing.
Voluntary Corporate Action- Tender offer overview:
This is typically a Repayment of Capital by the Company. Shareholders are
given the option to sell some or all of their holding back to the Company at a
fixed price, or within a range of prices. This enables the Company to return
excess cash back to shareholders."|
|Have heard that there has been a tender offer for the co.!|
|I only know of a Manchester broking firm who deal in a few unlisted securities called James E Sharp(www.jamesesharp.co.uk), they were designated by Hasgrove to be the authorised dealer in the remaining securities, spoke to them at the end of January, they were a bit vague as to when they would accept matched bargains, but the individual suggested that they may start to deal with them around the March/April time onwards, do occasionally look at their site to see if they have added Hasgrove to the list of cos. that they offer matched bargains trades, last time a few weeks ago the co. had not been added to the list, but will have another look today.|
|iii have contacted me saying that I can tender my shares for sale with them at 55p, as can anyone left with stock from the devious actions referred to above.|
|Thanks 100Laila for helping to reverse TDW's initial decision. I have to admit I originally phoned them to express my dismay and surprise that the tender offer had not been met fully, but I don't have the doggedness that you clearly have.|
|Thanks 100Laila. I'll keep pushing.|
I had the same issue with TD as Cornishman33. I wrote several letters of complaint and got the issue escalated. I pointed out that the error that had been made by their corporate actions department in how the tender options had been presented. I also embarrassed them by explaining how their competitor, Hargreaves Lansdown, had not made this error etc. Note their initial reply tried to fob me off but eventually their compliance team stepped in. They explained they would be correcting the issue for all affected customers.
So don't give up on this and keep escalating.
Worst case contact Hasgrove to explore the option of getting them to buy them back.|
|News to me, Barclays informed me that due to the scale-back the offer would be for around the above mentioned of approx. 65%, not happy with that and their response that there was little that could be done, feel that P.I's. have been shafted by the the board for accepting an offer that was not in the interests of shareholders, we've all lost money, but intrigued that cornishman receiving payment for remaining shares, anyone else in that situation?|
I was in exactly the same position as you and was disappointed that the net result was about break even and not the 35% gain I was expecting. However last week TD Waterhouse contacted me and asked if I wanted to tender the remainder of the shares, so I obviously said yes. This morning I have received payment for the remaining shares. I assume you have had the same result. I do not know what caused this change of heart, and wonder if other brokers have done the same.|