Share Name Share Symbol Market Type Share ISIN Share Description
Metnor Group LSE:MTG London Ordinary Share GB0003782249 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 22.00p 0.00p 0.00p - - - 0.00 05:00:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Metals - - - - 3.39

Metnor Share Discussion Threads

Showing 776 to 798 of 800 messages
Chat Pages: 32  31  30  29  28  27  26  25  24  23  22  21  Older
DateSubjectAuthorDiscuss
28/2/2013
20:52
If there's someone out there still holding on to his shares or knows of someone still holding, please let me know. It would make legal action a lot easier. Contact: jansen.zand@telenet.be
bedbel
18/2/2013
13:42
bermellon Your broker would have automatically accepted the offer . This is normal in such cases , since your only other alternative would have been to accept the very unattractive B share alternative . Because the Rankins held so many shares, the offer was bound to go unconditional . Two ex shareholders are currently taking legal advice on the circumstances surrounding the takeover . There may be a possibility of litigation at some point. You could contact Bedbel: see his post 94 0f 99 dated the 17th.of Dec. 2012. he will then keep you informed of any progress made.
roddiemac2
06/2/2013
11:42
Hi. I have a holding in Metnor which I did not want to sell at 25p, whch you so rightly say is derisory. I took them out of my Selftrade account to avoid them accepting the offer and received a Crest Certificate a couple of days later. Yesterday, I received a cheque from Share Registrars Ltd for the sale at 25P. At no time did I accept their offer. Has this happened to anyone else, and is the company action legal? I do not wish to crystalise the capital loss at this time, so did not sell. Any similar experiences or comments would be most welcome.
bermellon
21/12/2012
15:02
pvee, --The issue is not whether or not the offer will go unconditional; we know it will. The issue is can legal action be taken afterwards ?. With that in mind, I have so far only scratched the surface.it will not be possible for me to give a considered opinion until some time after the Xmas holiday. I do not think that the BOD have properly considered the interests of the minority shareholders , as they are required to do. Did you receive a letter from your broker including the information that Timec was a new co. set up by S Rankin , specifically for the purpose of the take over? I suggest , if you are interested in any progress we make , that you contact bedbel on the email address he posted .
roddiemac2
17/12/2012
23:37
From memory , I think if an action for unfair prejudice is taken , and is successful, the directors would have to pay any compensation out of their own pockets; they cannot use company funds.
roddiemac2
17/12/2012
22:11
You should contact ShareSoc at www.sharesoc.org as this sounds like unfair action against the minority holders. I see Spark advisory were involved in a similar situation previously where they were actually the nomads for a company then helped the directors undertake an MBO. I think that was at Morson so you may want to check that one out as shareholders were unhappy there.
davidosh
17/12/2012
20:56
Hey Roddiemac, I visited the latest agm. There were 4 other shareholders but I only have their names. I hope to receive the offer document tomorrow. Is there an egm scheduled or are they doing this without one? I'll send you a private mail. My mail: jansen.zand@telenet.be
bedbel
17/12/2012
19:41
Hello Bedbel. I hold 45,000. Certainly, we should stick together and try to do something about it. The original document from the co. was sent out on the 4th of Dec.: 21 days takes us to xmas; they have chosen their time well giving investors minimum time to get their act together.I only received a letter from my broker today. I have requested that steven Rankin ring me. he has emailed me saying he will ring tomorrow. The offer is unfair on two counts (1) the cash offer is nearly seven times less than the NAV. (2) The B shares are deliberately a poor substitute for the existing Metnor shares ,since they will have less rights than the A shares. Legal action is a distinct possibility, even if we have to create a precedent. Keith Atkinson confirmed that most holders have small holdings , and it is likely that they will take the cash . I know of one other small holder, but will speak to my broker ( Redmayne ) to see if they can help me get in touch with another seven holders with Redmayne. We do need to get in touch with as many holders as possible I will be out till 10pm. Let me have any thoughts you have on the way forward.
roddiemac2
17/12/2012
18:48
Hello, Nice to hear from this board that Rankin is again stealing from shareholders. First when he took Metnor private, then when he did a capital increase on his own (2010) at 12,5p and now this. I haven't received the offer but emailed Keith. I wonder if we can not stick together and try to do something abouth it. I own 60000 shares. If someone wants to start some legal action, I'm willing to part finance that. The problem is I'm living in Belgium and it is difficult to start some action from here.
bedbel
17/12/2012
17:42
pvee. We have been shafted. Last published NAV=£34.4m. The offer value is £5.04m. Because 89.7% of the stock is already owned by the Rankins, and 3.67% is held in the metnor EBT, this leaves 6.63% held by others . If all of these accept the paltry cash offer, it will only cost the Rankins £ 334,237 . Laughably, we are advised to accept the cash offer, because the share alternative has been devised to be an even worse deal. ( The B shares being offered under the share alternative have more restrictive rights than existing shares, and are worth less than the cash consideration ) The architect of this unfair offer is away skiing.His shares will be A shares.
roddiemac2
17/12/2012
15:58
I have not seen the full offer document , because my broker only sent me a precis belatedly. I have spoken with K Atkinson FD, and he said " TIMEC is a new company formed by Steven Rankin specifically , among other things , to consolidate the shares"( and get rid of all the small holders : about 11% ) Steven Rankin already holds 89% . The offer of 25p. is derisory , and is nowhere near the NAV of Metnor. Steven Rankin is conveniently on holiday skiing. I have asked Keith Atkinson to send me a copy of the document by email.
roddiemac2
17/12/2012
15:58
I have not seen the full offer document , because my broker only sent me a precis belatedly. I have spoken with K Atkinson FD, and he said " TIMEC is a new company formed by Steven Rankin specifically , among other things , to consolidate the shares"( and get rid of all the small holders : about 11% ) Steven Rankin already holds 89% . The offer of 25p. is derisory , and is nowhere near the NAV of Metnor. Steven Rankin is conveniently on holiday skiing. I have asked Keith Atkinson to send me a copy of the document by email.
roddiemac2
17/12/2012
14:22
pvee. how many do you hold? I have just received the letter. I will speak to K Atkinson this afternoon. Steven Rankin is out . This stinks.
roddiemac2
13/12/2012
12:43
25p for each share held or 1 B-share which have no voting powers, no right to dividend and no market
pvee
13/12/2012
09:29
What is the offer?
davidosh
13/12/2012
08:43
Have just received the 'generous' offer allowing me to sell my shares. Another example of shareholders being shafted by those at the top again. The offer bears no relation to the underlying value of the company nor its prospects going forward but my reading of the documents gives me the impression that I have no choice - like having a gun held to the head Seems to be par for the course for companies going ex-AIM and a valuable lesson for me in the future
pvee
10/5/2009
11:59
saw that it traded on friday at 23p, only 4k shares though regards
rainmaker
31/3/2009
13:19
825,000 at 30p!
ben value
29/3/2009
23:49
Has anyone asked how the directors are allowed to buy shares a few days before the final results are released ?
davidosh
29/3/2009
23:35
With tomorrow the last day of trading before delisting this could be very active if a bit "hairy" regards
rainmaker
28/3/2009
01:19
Thanks, to use a cricketing parlance, I think that's what they call a "googlie" regards
rainmaker
27/3/2009
18:41
Has anyone asked the company or Nomads why they are allowed to buy shares in a closed period and without the release of the results yet ?
davidosh
27/3/2009
17:28
Agreed HP regards
rainmaker
Chat Pages: 32  31  30  29  28  27  26  25  24  23  22  21  Older
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