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LNT Lionheart

0.00
0.00 (0.00%)
Share Name Share Symbol Market Type Share ISIN Share Description
Lionheart LSE:LNT London Ordinary Share GB0030236409 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% - 0.00 -
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Lionheart Share Discussion Threads

Showing 201 to 222 of 375 messages
Chat Pages: 15  14  13  12  11  10  9  8  7  6  5  4  Older
DateSubjectAuthorDiscuss
11/2/2003
17:11
Pollock should of course immediately resign; and someone from the Auditors (Deloittes) should be appointed as acting Chairman to implement an EGM for approval of voluntary liquidation.

As from his past record it is unlikely that Pollock will do the decent thing of falling on his sword, it should perhaps be down to the M&G to try and do the right thing second time around by politely suggesting that Pollock now leaves the stage....

With this likely scenario, those picking up the stock at 132p should hopefully do quite well, quite quickly.

It will be a classic case of the smaller shareholders doing the right thing by not accepting; and, as ever, the appallingly overpaid fund managers (both M&G and Montanaro) having done the wrong thing by accepting and selling. It will soon be time for the M&G to try and restore a little of their tattered reputation.

skyship
11/2/2003
13:51
or do we aim for EGM ? (how many Shareholders required to do this ?)
asph
11/2/2003
13:49
when will the AGM be due ? please
asph
07/2/2003
13:59
Thanks ccraig, a sorry story at our expense, but he explains the situation rather well I think. Here's the full reference for anyone who wants a fair view of what appears to be happening:
mstrathern
07/2/2003
12:55
interesting post on MW site again
Think you guys and girls need to get organised to stop this. Have full support of most private investors even like me who have no shares but hate to see people get shafted like this

ccraig69
07/2/2003
12:54
interesting post on MW site again
Think you guys and girls need to get organised to stop this. Have full support of most private investors even like me who have no shares but hate to see people get shafted like this

ccraig69
07/2/2003
12:17
I dont think that Sigma will try and muscle in on smaller than say 75%. I should'nt think it's worth the agravation, after all they only have to pick up the shares they've been offered, then they can wait for the inevitable winding up motion at the next AGM, or if necessary they put a stooge forward to put up a motion. After that its go staight to go collect your 100+ grand for the motion being put up and collect the cash for all those lovely Lionheart shares that they've picked up. Et voila, for every Lionheart share they get they have effetively sold 1.48 Sigma shares at more than 50p when they're only worth 37p on the market at present let alone when a flood of new paper hits the street. They'll be laughing all the way to the bank.
mstrathern
06/2/2003
18:38
Hi
Just recieved my phone call and when i said Sigma just wanted Lionhearts cash the guy just laughed and said thankyou very much.
Interesting post om motlyfool board saying Sigma have to get 90% acceptance if they do not then they do not have to bid or if they get say 30% acceptance they can if they want take these up and have a 30% stake in Lionheart.
The auther does state that the deal stinks and in his oppinion the deal will not go through.
Regards

silver doller
03/2/2003
19:32
Also had the phone call from the party acting for Sigma who were just checking 'I had received the offer doc's'.
We must reject this offer and get the best deal for holders. We have the means of low cost communications here in this BB. why not call for an EGM and get it liquidated ?

coeur de lion
03/2/2003
16:18
tilton - max in msg 99 gave
which seem to different from City Insights, they list their phone as:
020 7392 4100
and from their site:
'In the past 24 months Salisbury Associates have been commissioned to provide services to 37 mergers and acquisitions both contested and agreed. The programmes provide have been custom designed to suit the needs of the particular client but are normally targeted at the retail investor. Our aim is to help our client reach the targets of unconditionally as to acceptance and compulsory acquisition in the shortest amount of time and at the least cost.'

So it sounds as if it might well be them.

mstrathern
03/2/2003
10:32
Can anyone provide more precise details on who rang them. The Salisbury people I knew are know City Insights, and are not involved. The financial PR to Sigma are College Hill.

If anyone can give me a name and number I will give them a call, to see what they are playing about at.

tiltonboy

tiltonboy
03/2/2003
06:39
maybe worried because they have been reported and evidence presented to the fsa and sfo for 'gross misrepresentation' amongst other things ?
cg1953
02/2/2003
13:56
Hi
The people at Salsbury seem rather worried to me, i wonder why. Could someone be waiting in the wings.
Regards

silver doller
02/2/2003
11:08
I won't be accepting either, I'm not giving my shares away at a discount

bb

bladeboy
01/2/2003
19:29
Got my phone call Friday evening. They said Lionheart shares were not worth much and that the offer was a good deal. I mentioned the fall in price of SGM but they did not want to discuss that. I'm not accepting the offer.

Madchen

madchen
01/2/2003
01:32
asp if Salisbury approached you and tried to convince you that the offer had 99% acceptance and you believe that they were misleading you then you should report them to the FSA. They are almost certainly acting for an interested party and therefore come under the FSA's jurisdiction.
mstrathern
31/1/2003
23:04
had same approach---------tried to kid me they have 99% acceptance on enquiry.
asph
31/1/2003
19:13
I have just recieved a telephone call from a company called "Salisbury something......" regarding my intentions with respect to the Sigma offer for Lionheart. I asked who they were representing and was told they were representing Sigma. I only have a very small holding in LNT.

So it looks as if Sigma have become concerned that the takeover may not succeed.

Has anyone else been contacted?

Update (19:23hrs, 31 Jan 2003):

I think this is the company but did not hear the caller say "associates" onlt "Salisbury"
.

maxwellsdemon
31/1/2003
17:00
There was a story on the Citywire site yesterday re the Judges Capital stake. Is it worth accessing, did anyone see it? Perhaps it was JC in for that 25000 @ 134.5p today.

Incidentally, hopefully you will all by now have seen the offer document. How on Earth did the Takeover Panel permit Pollock to state that tosh in his Recommendation Letter about the problem with a voluntary liquidation. It is at best disingenuous and at worst totally misleading. The truth is that in a very few weeks, six at the most, shareholders could receive a "Special Interim Distribution" CASH payout of 140p / share. This would leave c. £1.4m still in the pot for the liquidator to work with. What is more, the quote would continue, providing shareholders with further opportunities to sell as and when they saw fit!!

Pollock's statement has to be read to be believed; and we should all be writing to the Takeover Panel to castigate them for their total and utter ignorance of how markets work.

Am I wrong - if so - please put me right.

skyship
29/1/2003
11:22
I have just recieved on the Judges Capital Plc (JDG) intevention. So it looks as if things are beginning to warm up and hopefully if the major holdings have not changed too significantly the bid is set to fail. I have not recieved the offer document yet as my holdins are in iDealing and it takes them a few days to get such things out. However from what I can gather it appears to me to be a load of self-serving old 'Pollocks'.

Hopefully David Circurel will make a realistic offer, I note from the wire: 'Confident statement with Q3 results Judges Capital 102 1/2 up 4', so maybe their paper is worth more than Sigmas. But I think we need a bid with a cash element that is much higher than Sigma's two thirds offer(107p). Otherwise we would still be much better off waiting for the AGM, replacing Pollock and winding the company up.

>29/01/03
>
>MARK
>
>You will have read of the interesting intervention by Judges Capital ("JC")
>- the Jan'03 AIM listed investment vehicle run by ("DC").
>
>I take this as a highly encouraging move.
>
>JC appears to be backed by various big names; and DC has close links with
>Dawnay Day. It is quite possible that JC will seek to take a quantum leap
>in size by making a cash & underwritten shares offer for LNT. At the moment,
>JC is capitalised at just over £2m (2.1m shares issued @ 95p). A bid for
>LNT, even with two-thirds cash, would treble the size of JC; giving
>worthwhile firepower at a "formative" time in the markets. So, it could all
>make sense.
>
>The Offer document has now arrived, so I am going to be poring over that for
>much of today. Interesting that the pay-off to Peter Pollock has still not
>been enumerated - I'm amazed that the Takeover Panel have permitted that.
>
>more anon.....

Here is one of the RNSs from JDG:

RNS Number:6914G
Judges Capital PLC
28 January 2003



For Immediate Release 28 January 2003



Judges Capital plc

Related Party Transaction

The Directors of Judges Capital plc ("Judges Capital" or the "Company") announce
that the Company yesterday acquired 75,000 Ordinary shares in Lionheart PLC
("Lionheart") from David Cicurel (Investments) Limited ("DCI"), representing
1.04% of the issued share capital of Lionheart. The shares were acquired at a
price of #1.2973 per share, for a total cash consideration of #97,299, which
represents a no loss no gain basis for DCI.

The Company also made a market purchase of 200,000 Ordinary shares in Lionheart
at #1.34 per share for a total consideration of #268,000. This purchase,
together with the shares acquired for DCI, takes the Company's total interest in
Lionheart to 275,000 Ordinary shares representing 3.81% of the issued share
capital of Lionheart.

Since the disposal in November 1999 of the Croydex Company Limited and its
subsidiary companies, Lionheart has had no trading businesses and its only
material asset has been its cash on deposit. As at the 31 December 2002,
Lionheart had cash resources of approximately #11.6 million.

David Cicurel, Chief Executive of Judges Capital, has an interest in DCI and
consequently the acquisition of the shares in Lionheart from DCI is a related
party transaction. The Board of Judges Capital, excluding David Cicurel, have
consulted with Dawnay, Day Corporate Finance Limited, nominated adviser to
Judges Capital, and believe that the terms of the acquisition are fair and
reasonable insofar as Judges Capital shareholders are concerned.




Ends





For further information please contact:

Judges Capital

Alex Hambro, Chairman Tel: 020 7437 4037
David Cicurel, Chief Executive Tel: 020 7437 4037 Mobile: 07771 893 080


Dawnay Day, Corporate Finance

Gerald Raingold Tel: 020 7509 2301 Mobile: 07798 915 511
Sandy Jamieson Tel: 020 7509 4570 Mobile: 07818 022 400


CardewChancery

Melvyn Marckus Tel: 020 7930 0777 Pager: 07659 104 878
Tim Robertson Tel: 020 7930 0777 Pager: 07693 286 493



Note to Editors:


* Judges Capital is a new company established to invest in a small number of
quoted companies where the Directors believe an opportunity exists to
increase shareholder value and where the size of Judges Capital's stake will
enable it to influence the target to pursue this opportunity.

* Judges Capital was floated on the Alternative Investment Market earlier
this month.

Dawnay, Day Corporate Finance Limited ("Dawnay Day"), which is regulated by the
Financial Services Authority, is acting exclusively for Judges Capital as
nominated adviser to the Company and not for any other person. Dawnay Day will
not be responsible to any other person other than Judges Capital for providing
the protections afforded to customers of Dawnay Day or for advising any such
person in connection with this transaction.





This information is provided by RNS
The company news service from the London Stock Exchange
END


m.strathern@cranfield.ac.uk

mstrathern
28/1/2003
11:18
tiltonboy.
this is excellent news.
now watch lnt move up.
i wish they had moved
on fthm/hyc to block it.

cg1953
28/1/2003
09:29
perhaps there is an intention to stop the Sigma deal? ---------food for thought--cash back can provide a quick gross 15% return!
asph
Chat Pages: 15  14  13  12  11  10  9  8  7  6  5  4  Older

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