Hasgrove Share Discussion Threads

[doubleorquits] 08/7/2013 09:30

Chris,
I gues it will be about 64% which is what I got and what "large" shareholders were given. It means that you have over a third left to sell this week or hang onto in an unlisted company.

[chester] 08/7/2013 09:15

I have just contacted my brokerage firm, Alliance Trust Savings, and it seems I'm with you DoQ, they've tendered on-bloc, but they have no idea how many I have sold at the 82p.

[stanmore2] 08/7/2013 08:54

HL look as though they got it right. Left Selftrade last year as they worried about trivia and it looks as though they have missed the big picture

[jakleeds] 08/7/2013 08:32

Sorry to hear that DoQ.

Just checked with Jarvis and they are honouring the tender and confirmed that I and other family members will receive the 82p on Friday.

[britishb] 08/7/2013 08:31

I have been notified that my full holding was succesfully tendered at Charles Stanley. For any broker not to have done this looks to be quite wrong (IMVHO).

[doubleorquits] 08/7/2013 08:19

Which brokers are not honouring the whole tender and scaling back because they have submitted shares for tender en bloc instead of acting for individual shareholders? Selftrade are one. Scandalous!

[shanklin] 05/7/2013 10:17

Boros10

I just spoke with somebody in Corporate Actions at Hargreaves Lansdown and I understand that their shares are NOT being tendered en-bloc.

[boros10] 05/7/2013 08:14

Many private investors are in for a nasty shock. Although the Company tried to protect small shareholders by guaranteeing to buy back up to 50,000 shares the reality is that most retail stockbrokers have been tendered en-bloc. They argue the shares are held by them as nominee so it is impossible for them to tender individually. I had to transfer my spouses shares into certificated form to get around this (although we left it late and still don't know if the shares have been tendered successfully).

[cornishman33] 03/7/2013 17:03

According to the RNS of 21st June only holders with less than 50,000 shares will receive the full amount. So I would imagine that some larger shareholders will be selling those that will not be purchased, to avoid being left with shares that will be difficult to trade. If I had held over 50,000 I would have sold those that were not tendered in the market.

[wanttowin] 03/7/2013 16:40

Not quite sure why some would sell now in the very low 70's when 82p is on the table next week ?

[mickharkins1] 14/6/2013 02:30

Thanks menthol and bb....let me check with them.

[britishb] 13/6/2013 16:47

Seltrade sent me an email (in yr online msg box)

[menthol] 13/6/2013 16:07

The only way is through your broker. I had word from mine last week. Suggest you phone your broker and ask for corporate actions. You have until Friday 14th to tender your shares.

[mickharkins1] 13/6/2013 16:01

How do I go about accepting the Tender Offer...will my online broker (Selftrade) get in touch with me...just concerned that I haven't yet heard anything from them? Thanks

[chrisdonohue] 13/6/2013 11:32

Tender Offer itself removes the contradiction. Have emailed TD Waterhouse to find out if the Nominee account is a Large or Small Shareholder (likely to be Large unfortunately).

[chrisdonohue] 13/6/2013 10:53

RNS detailing Tender Offer is contradictory
Small Shareholders (defined as having less than 50,000 shares) have their Tenders satisfied in full if the Tender is oversubscribed. However, in the next sentence it offers the contradictory notion that if they fail to Tender all their shares, they will be scaled back in the same way as Large Shareholders (which cannot be the case if their Tenders have already been satisfied in full).
But it seems that Small Shareholders will be treated preferentially to Large Shareholders IF they tender all their shares - which is treating shareholders unequally even though theoretically they possess equal rights to the company.

[napoleon 14th] 10/5/2013 10:48

Out on +10% thanks to CR.

Take the loot & scoot imo!

[britishb] 10/5/2013 09:53

My calcs

Shares existing plus options exercised = 25.44m less returned by Interel 1.16m gives total 23.12m

At 82p that gives effective market cap £18.95m

Cash is £10.25m tender offer + £4.8m remaing in biz + £0.3m Interel 375k Eu = £15.3m

So upside from further Amaze biz (somewhere from zero to £9m) plus remaining biz's (£7.5m turnover, £0.6m op profit) is effectively valued at £3.65m.

Looks pretty ungenerous to me. Fairer minimum might be £15.3 (cash) + 7.5 x op profit remaining biz = £4.5m + say £1m Amaze earnout, total £20.8m or in in the region of 90p/share.

So not a crazy offer but I think lowball.

[wanttowin] 10/5/2013 09:25

Could anyone confirm what date shareholders will be paid out at 82p? My understanding is 14th July.

[cockneyrebel] 10/5/2013 07:37

Another AIM co robs me.

82p tender is too cheap, but it's the only way you'll get your cash imo.

Oh well.

CR

[britishb] 10/5/2013 07:37

Well, not many Shanks. I wonder if they'll get away with it. Seems to me nearly all the upside for any further Amaze payments and future success of remaining biz's is being taken away unless you want unlisted shares. Usual AIM nonsense...!

[speedsgh] 10/5/2013 07:37

shanklin - exactly. by de-listing they are in effect forcing shareholders' hands + taking the company private on the cheap imo.

[shanklin] 10/5/2013 07:33

82p certainly seems extremely ungenerous but how many shareholders will want to end up holding shares in an unlisted company