New Star Asset Management Share Discussion Threads

[jamie62] 17/2/2009 11:37

i too am holding until D-Day, praying for an increase offer on this woeful bid. I am annoyed that they accepted a lower offer on the basis that the deal would be done quicker. I suspect the real reason was that Hendersons were the only bidders prepared to offer continuous employment to staff.

[sprattyken] 17/2/2009 08:28

You have no choice. The restructuring deal has been voted on and passed by the shareholders.

Your shares will be bought in March for 2p, unless outflows are higher than predicted, in which case you could get less. That's my understanding.

I hold CFDs which need to be closed soonish. I don't know why I'm delaying - maybe there's a tiny chance that another buyer might appear? Who knows? I really must get rid of them!

[asmodeus] 17/2/2009 08:14

Yes, Steve,I'm keeping mine, but can't yet make out what the implications are for those who don't accept the offer. Will our shares be compulsorily purchased?
Will they just fade away at no value? Or is there any way in which they can participate in any future growth? Does anybody here know? And could there still be a higher offer? Anyway, the sum involved in accepting the present offer is so low that I just feel more inclined to take a chance.

[nicd] 16/2/2009 20:40

its worth so little, I may keep the few I have though the large chunk of CFDs wwill have to be closed out

[steviewo] 16/2/2009 20:35

Is anybody at all here thinking about keeping their holding to see if anything comes of it?

[sprattyken] 16/2/2009 13:36

I'm thinking about dumping ny CFDs with IGM.

Telephone trade so you either get a price or set a price, but it's only valid for the day.

Very slim outside chance that another insti might come in here, but I think it's all over.

[nicd] 14/2/2009 16:56

I am the same, been told shareholders have voted while not asked for mine - I have both shares in eTrade and CFD with IG, how stupid was that.

[knowing] 13/2/2009 17:42

Looking at another fund thats been hit IPI

[asmodeus] 13/2/2009 17:23

Have you asked them why they did not keep you informed, Gazza? (and nicd?)

[gazzastrip] 13/2/2009 15:52

I got nothing from either and whilst it wouldnt have made any differnece it would have been nice to have felt that my view/vote could have been cast. The whole thing is a sorry afair and probably a stitch up of private investors as usual.

[asmodeus] 13/2/2009 10:33

Gazza - they should have sent you a proxy form which had to be at the Registrars by 8th Feb.

[gazzastrip] 13/2/2009 09:07

I have just received an email from E Trade trhough whom i hold New Star shares telling me about the delisting. It says that shareholders have voted for it.

I didnt get a chance to vote (e trade are usually pretty good at telling investors about corprorate actions), plus i hold a small number with another stockbroker and received nothing from them either.

i dont suppose it would have made any difference but i did at least think i would get the chance to say yeh ar ney to the proposals.

Did anyone else take part in the vote?

[jamie62] 10/2/2009 10:49

all over red rover

[sprattyken] 10/2/2009 08:32

That seems to be it then?

Henderson New Star it is? Or will another player come and make an offer?

[the big fella] 03/2/2009 10:06

nicd - 1 Feb'09 - 20:06 - 1201 of 1204

50%, you are lucky, I stayed in from 100, could not believe the drop.

I would have a thought the Board that took the huge loan to pay as a dividend should be disqualified from holding such a position again. Where was the fiduciary duty to the company as a going concern?

Spot on - totally disgraceful, but there you go.

[knowing] 02/2/2009 13:37

spurberry it was in earlier press reports.

[spurberry] 02/2/2009 13:34

2p, is that all?

I got drawn to this today as I heard targets of 10p. Not show where they heard that

[nicd] 01/2/2009 20:06

50%, you are lucky, I stayed in from 100, could not believe the drop.

I would have a thought the Board that took the huge loan to pay as a dividend should be disqualified from holding such a position again. Where was the fiduciary duty to the company as a going concern?

[asmodeus] 31/1/2009 20:57

But what does this mean for New Star investors? What will happen to New Star funds under the guidance of its new guardian? Will New Star portfolios merge with Henderson? Who will stay and who will go? And will Henderson re-brand the New Star assets?
The long and short of it, is that 'it is too early to say, at this point,' according to a Henderson spokesperson.

see:



(Apology appreciated, Jamie)

[jamie62] 30/1/2009 16:13

sorry about that - reeling from a 50% loss on this dog ...

[asmodeus] 30/1/2009 16:02

Thank you Jamie. How charming. Much appreciated.I will re-examine the posts right now.

Edit yes - I've found it - Eburne's post 1192 must have missed it - sorry.

[jamie62] 30/1/2009 15:06

why don't you read the posts instead of asking to be spoon-fed. The offer is 2p per share in cash.

[asmodeus] 30/1/2009 14:45

...........Presumably we must wait for tomorrow's Press, then, to get an analysis.

[the big fella] 30/1/2009 12:16

What do you get when you combine 2 bad apples.... a pile of mush. One to steer well clear of in either guise.