Imprint Share Discussion Threads

[williebiz] 07/3/2008 15:01

1. It's not nearly everyone who is able to sell. It's 25.62% (of total as was yesterday), which is about 1 in 3 of those able to sell.

2. RAB wouldn't have bought nearly 10% of the company if there wasn't a ready profit in it. Classic game. Premier fully expects to pay more to get full control.

[apatel21] 07/3/2008 14:57

williebiz - i can understand you bullishness as a holder (and as a holder myself i hope your right) which seems to have become more bullish with RAB on board : ) However, you have to ask yourself why nearly EVERYONE who is able to sell is exiting IMP when they could themselves play hardball to extract a better price for themselves. I think the chances are very remote and the share price reflects that.

[williebiz] 07/3/2008 14:43

New Star sold down its holding

[williebiz] 07/3/2008 14:37

23.72% above + Premier's stake 25.62% + RAB's stake 9.27% = 58.61%, call it 57% after today's share issue.

Premier can get control pretty soon if it wants. Just has to offer enough to RAB and the holders above, I'd suggest RAB will want to make at least 10% after costs which gives a minimum offer price of circa 128p and possibly quite a bit more..

[williebiz] 07/3/2008 14:36

The HYDG scheme will lapse soon (the scheme is unworkable with Premier holding more than 25%).

All the above holders - 23.72 % or slightly below that after today's share issue - will then be free to sell to Premier.

[williebiz] 07/3/2008 14:34

3 Hydrogen has received irrevocable undertakings to vote (or procure
the vote) in favour of the Scheme at the Court Meeting and the resolutions to be
proposed at the Imprint EGM from other Imprint Shareholders in respect of
9,090,368 Imprint Shares in aggregate, representing approximately 23.72 per
cent. of Imprint's entire existing issued ordinary share capital. Details of the
irrevocable undertakings are as follows:



3.1 Artemis Investment Management Limited has irrevocably undertaken to
vote in favour of the Scheme at the Court Meeting and the resolutions to be
proposed at the Imprint EGM in respect of 1,205,000 Imprint Shares representing
approximately 3.14 per cent. of Imprint's current issued ordinary share capital.



3.2 Gartmore Investment Limited has irrevocably undertaken to vote in
favour of the Scheme at the Court Meeting and the resolutions to be proposed at
the Imprint EGM in respect of 3,101,010 Imprint Shares representing
approximately 8.09 per cent. of Imprint's current issued ordinary share capital.



3.3 Baycliffe Limited has irrevocably undertaken to vote in favour of the
Scheme at the Court Meeting and the resolutions to be proposed at the Imprint
EGM in respect of 2,325,358 Imprint Shares representing approximately 6.07 per
cent. of Imprint's current issued ordinary share capital.



3.4 Brian Hamill has irrevocably undertaken to vote in favour of the
Scheme at the Court Meeting and the resolutions to be proposed at the Imprint
EGM in respect of 2,459,000 Imprint Shares representing approximately 6.42 per
cent. of Imprint's current issued ordinary share capital.



4 The undertakings referred to in paragraph 3 above will cease to be
binding if the Scheme lapses (unless Hydrogen then makes a takeover offer for
Imprint within 14 days). The undertakings will, in certain circumstances, also
cease to be binding if a competing offer is made for Imprint which exceeds the
value of the consideration offered by Hydrogen pursuant to the Acquisition by
more than 10 per cent..

[apatel21] 07/3/2008 14:29

Is it likely to go to auction again? between HYDG and Premier this time. OPD would just be silly to enter the race unless they want to make fools of themselves once again ; )

IMHO, i think Premier have put the ball firmly in their court with the purchase of their large stake and i would be very surprised to see HYDG return with an offer or enter an auction process. Hence, the recent exit by so many canny investors.

[williebiz] 07/3/2008 14:15

RNS Number:6413P
Imprint Plc
07 March 2008


Imprint Plc ('Imprint' or the 'Company')


Offer update


The board of Imprint (the "Board") notes the announcements released by Premier
Group ("Premier") on 4 March 2008, pursuant to Rule 2.5 of the Takeover Code,
relating to an all cash offer for the issued and to be issued share capital of
Imprint at 115 pence per Imprint share and on 6 March 2008, pursuant to Rule 8.1
of the Takeover Code, stating that Premier has an interest in 25.62 per cent. of
the issued share capital of Imprint.

In light of these announcements, the Board has today withdrawn its
recommendation of the proposals for the acquisition of Imprint by Hydrogen Group
plc to be effected by way of a scheme of arrangement.

The Board is reviewing the offer situation with all three offerors and their
advisers and will make a further announcement in due course.

[williebiz] 07/3/2008 13:56

Buffin - no idea why Premier didn't buy more @ 115p yesterday and on the 5th. Probably down to funds available and agreement with financiers.

Eg along the lines: 'you can buy X number to block HYDG then please demonstrate to us that you'll get >75% and we'll provide the remaining finance.'

[williebiz] 07/3/2008 13:53

RAB now up to 9.27%

[buffin] 07/3/2008 13:53

The interesting thing is that they got less than 115 for them (113.5). So Premier, having got enough to block Hydrogen, are in no rush to pay the full 115 to get more.

Still no reaction from Hydrogen, I see.

And our board seem transfixed in the headlights, still recommending a lower cash offer without any explanation, and still - allegedly - unable to find out whether they can publish the results.

If the EGM gets held, it could be one of the more interesting events of the year.

[williebiz] 07/3/2008 13:26

INVESCO sold 570K

[williebiz] 07/3/2008 13:05

Barclays also make reference to the option of withdrawing or changing my election in the latest bid missive received today, so that is clearly allowed by them.

[apatel21] 07/3/2008 11:55

To those i'm making nervous with my comments recently i apologise.

[apatel21] 07/3/2008 11:52

sorry Priveleged i didn't take a name (whoops might me a mistake !). The guy on the phone was very genuine in trying to help and i'm confident he is going to try and withdraw my acceptance. It will take a few days.

I think its worth ringing and telling them that you've talked to another TDW customer.

IMPORTANT - if you are a select trader make sure you ring that number as the guys on the phone are much more knowledgeable and cutomer focused. My mistake on Monday was i phoned the normal number.

[privileged] 07/3/2008 11:47

apatel21 - agree completely. Who have you spoken to at TDW? They are supposed to be calling me back as i have faxed the document to their corporate action department demonstrating the 18 March deadline but they are yet to respond

As you say, not sure i will actually sell given small fall back in price but it would be good to have the option to bank the cash if i need to if other opportunities arise.

[apatel21] 07/3/2008 11:31

TDW - have said they will now try. If only they did this on Monday when i 1st asked. Hmmm, with the price now having dropped a fair bit, i'm undecided about what to do but at least i'll have the option to sell if i wish to.

[steveford77] 07/3/2008 11:24

Just to report that Hargreaves Lansdown have let me withdraw my acceptance of the Hydrogen partical cash alternative and I can now sell my shares. Not minded to yet though.

[williebiz] 07/3/2008 11:20

Could be right on closing the long position.

[apatel21] 07/3/2008 11:12

sell if your worried

i would if i bloody could. damn TDW !

[evilblues] 07/3/2008 10:49

Apatel,you need to calm down with this,sell if your worried,or play it out - but your jittery posts cannot be helping you.

[apatel21] 07/3/2008 10:44

Bid/Offer now 111/112 ? worrying

[apatel21] 07/3/2008 10:14

williebiz - is that not him just closing his long position?

[williebiz] 07/3/2008 09:55

RNS OK now we know for sure there were significant quantities bought 112-113.5p yesterday