|Local Radio Company
||EPS - Basic
||Market Cap (m)
Local Radio Share Discussion Threads
Showing 101 to 122 of 125 messages
|You don't have to sell; but you'll be left as a minority shareholder and UKRD can delist the shares if they choose. Not a great position to be in.
Personally I've accepted the 4p, though I still think it's pretty shoddy that an auction-type arrangement wasn't done by the LSE, a la Enodis or IEC: would have gone higher than 5p, let alone the 4p we've been stuck with.|
|Forgive my ignorance - i own shares in TLR and nice that they have gone up but it seems too cheap for me and I dont want to sell. Do I have to sell if it goes unconditional - what does the unconditional mean?|
|And there's Hallwood's withdrawal.
Taken up the 4p here, but highly aggrieved.
"Further to UKRD's announcement on 12 May 2009 that the Second Revised UKRD Offer
at 4 pence per TLR Share had been declared unconditional, Hallwood regretfully
announces that Hallwood's Second Revised Offer, which was announced on 5 May
2009, is withdrawn.
Such withdrawal is effected with the consent of the Panel, owing to the fact
that it is no longer possible for Hallwood's Second Revised Offer to obtain
acceptances in respect of TLR Shares which, together with TLR Shares acquired or
agreed to be acquired before or during the Second Revised Offer, carry in
aggregate more than 50 per cent. of the voting rights normally exercisable at a
general meeting of TLR.
Hallwood is not going to accept UKRD's offer of 4 pence per TLR Share.
Commenting on the withdrawal, Anthony Gumbiner, Chairman of Hallwood and
Non-executive Chairman of TLR, said, "It would be ungracious of me not to
congratulate UKRD on its victory and I wish UKRD well. To fight and win a
contested takeover battle is no small thing especially in the middle of the
recession. I will do all I can to make the Board transition as easy as
|I don't think this is the end of this yet. They have over 50% but it will be real pain for them to push anything through without over 75% support. I think there is still more to come from this episode.|
|Oh no! UKRD have crept over 50%, and declared it unconditional. What a con! So 4p, not 5p, is the final bid. Pah. Welcome to AIM - should have been done as an auction, would have gone even higher than 5p.|
|Heck you're right - all happened last night after close, missed it. A 4p offer and then a 5p trump. Hallwood seem really keen.
|your behind the times. that 4p offer was trumped by a 5p offer about 20 minutes later.|
|Hallwood's 3.5p the best on the table but UKRD just paid 4p for more, so their next bid can't be below that.
My only worry is two large shareholders, with enough to block each others' bids, create an impasse that leads nowhere. LSE should be conducting this as an auction, a la Enodis.|
|That article is nonsense. Situation made worse from a bid - er no. ITs that Hallwood are trying to get this company on the cheap!!! No way am I agreeing to a takeover at 2.5p|
|THE future of Sunderland and Durham's own radio stations is uncertain today, after shareholders in their parent company rejected a rescue plan.
The Local Radio Company, which owns Sun FM and Durham FM, had planned to hold a sell-off of shares in a bid to raise more than £1.5million it says it urgently needs to survive.
Without a cash injection by the end of the month, the company could be forced to cease trading.
Shareholders rejected the plan at an extraordinary general meeting, dashing the firm's hopes of a stay of execution.
The situation has actually been made worse by the costs associated with organising the share offer and assessing a bid for the company from the rival UKRD Group.
UKRD Group Ltd, a multi-media business which operates six local commercial radio services, made a £1.44million offer for Local Radio last month.
The firm already owns more than 13 per cent of the stock and says it has undertakings from other shareholders that would take its holding to more than a third.
|The Local Radio Company (TLRC) has urged shareholders to reject a £1.44m bid from rival UKRD Group, saying it has found an alternative capital injection.
According to reports, Investment house Hallwood Financial, which already owns a 28% stake in TLRC, has bettered UKRD's efforts with a 2.5p per share cash offer, valuing the company at £1.8m.
Furthermore, Hallwood has promised a £1m working capital loan at 10% interest per annum to help keep the group afloat if the UKRD offer is rejected.
If the offer is accepted by more than 90% of TLRC shareholders, this will mark the end of its AIM listing.
TLRC non-executive chairman Anthony J. Gumbiner is chairman of Hallwood, whose shareholders include his family trust.
The company's independent non-executive director John Perriss has already written to shareholders urging them to reject the UKRD offer.
On April 1, TLRC said it needed to raise more cash by the end of this month to stay in business after shareholders voted down a plan to raise £1.51m with an open offer.
Last week, the directors of Jazz FM, led by chief executive officer Richard Wheatly, agreed to buy the station from TLRC.
The deal has the backing of GMG, which relaunched the station last autumn under a joint agreement with TLRC.
GMG is also selling the name and intellectual property rights to Jazz FM and its backers.
The agreement follows an announcement made by TLRC on 8 January that it was in talks with a consortium headed by Wheatly.
"We are thrilled to have reached an agreement with TLRC and GMG and to have attracted new significant investment into the business," said Wheatly.
"The successful fundraising reflects the faith that our backers have in the abilities of the management team and our business plan and we look forward to building Jazz FM into a world class music business."
TLRC operates 20 stations.|
|Looks like we are in a bidding war. This is worth a lot more in my view.|
|lets hope someone else comes in with a higher offer... seems to me that there is huge value here and the financial position of the company is being misrepresented by those in charge.|
Voucher sales from various local radio stations - TLRC have a couple on there|
|Anyone else out there with a view on this treatment of minority shareholders?|
|anyone seen the size of hte buy-back on this?|
|Charles Stanley has changed this share to a "STRONG BUY" on the 23rd nov 06. Something is going on with this one.|
|How much £ have they made so far Sean?|
|TLR still looks a mess! Trading's taken a turn for the worse in recent weeks I gather.
Who on earth bought a million shares on Friday - does anyone know?|
|Quite an act of faith by Goldman Sachs - purchase of 4.5mn shares reported after close yesterday. I've added in hope this could take off now.|
|I spoke too soon!|
|People have been buying today!!! But the graph has only ever gone one way from what I can see.|