Northacre Share Discussion Threads

[fig1] 28/1/2013 11:17

i bailed at 94p but the whole thing does seem to be progressing a little too smoothly at the upper echelons of management(at the expense of pi's of course).

[troutisout] 28/1/2013 11:16

Guys, too many people here going on about FSA, regulations, Director's responsibilities, etc. This is the AIM market and I am sure some of you have been around for long enough to realise that the regulations are so loose that it would be hard to do anything. I have over the years been involved in far worse scenarios and never has anyone been brought to book, so please take off the 'rose tinteds' when it comes to the rules and regulators.

[daneswooddynamo] 28/1/2013 11:16

not sure what this witchhunt over km's role is. He could just as easily be deserving of the plaudits if his initial approach has been the catalyst for the sale process. The puzzle is why the directors supported the abu dhabi approach at supposedly the same price as ken's approach. Its possible that ken's backers did not at the end of the day come up with the necessary finance or perhaps that he was not able to garner good enough terms personally from them. He might then have decided to change tack, work out a potential payoff from nta once spadille take over or even join forces with damac.

[troutisout] 28/1/2013 11:12

NODDY,
so what about Spadille?
They have all formed new companies to pursue the takeover.

The name calling is unnecessary as none of us know what has and is going on, for all you know KM's interruption could have forced ADCM into a greater offer already.

[joe say] 28/1/2013 11:08

spot on brando

are you listening/reading FSA ?

[brando69] 28/1/2013 11:02

maccrae's role needs to be investigated...

[noddy31] 28/1/2013 11:00

KEN AND RIVERVIEW WERE NEVER IN IT FROM THE OUTSET.

RIVERVIEW WAS SET UP IN NOV.

KM APPOINTED DIRECTOR IN JAN.

A SHELL OF A COMPANY WITH NO HISTORY OR ASSETS WAS GOING TO RAISE FINANCE TO BUY HIS BOSSES BUSINESS.

KM = CUCKOO

[daneswooddynamo] 28/1/2013 10:54

reckon we will find out over next 48 hours and still reckon a slightly increased offer from spadille to get damac on board is most likely option

[sami69] 28/1/2013 10:54

ken mcChicken...

so sad when you resort to name calling...

[brando69] 28/1/2013 10:46

v terse statement

wonder if he knows that damac or abu dhabi are about to up the ante

[brando69] 28/1/2013 10:43

well done ken maccrae - doing a stirling job for your shareholders... what a twit!

[jamie62] 28/1/2013 10:30

Opportunity to drop the bid!

[daneswooddynamo] 28/1/2013 10:29

no surprises there

[jamie62] 28/1/2013 10:27

So RiverView out of it

[dupree] 27/1/2013 11:17

Nice one Joe Say. I mean the idea, not the sue-ing. Looks like an alternative to selling the company off at a discount, even if the discount were, per se, justifiable. But I agree with fireplace that maybe it's not the sort of solution any of the protagonists are looking for.
It is our own company's finance director who suggested that waiting for the sales was maybe a problem, that could be addressed by selling the company..to him..

[brando69] 27/1/2013 10:30

whatever damac's motives - good on them - at least they weren't ready to drop their pants and take a rogering for 96p like some

[fireplace22] 27/1/2013 09:08

NTA, wont have much say in the sale of the last flats, Minerva (and the housing market) will determine that. The slow market has played into their hands but I doubt they contrived to delay.

[joe say] 27/1/2013 08:26

but given their legal responsibilities if this is an available option they HAVE to consider it

If they dont then they've failed and can be sued

[david77] 27/1/2013 08:19

The directors don't want the last few sold. They lose their bargaining chip in their aim of getting the assets cheap.

[joe say] 27/1/2013 08:07

bit off the wall - but is there anything preventing NTA buying the flats (in Treasury stock fashion) such that the profit clauses are triggered and the flats subsequently sold at a later time ?

[dupree] 26/1/2013 15:31

Trout, he's got a bloody nerve that Ken imo. Give a man a job and then he tries to buy your company for 96p. I feel (subjectively) there's something in your theorisms
good point fireplace about the flats- this shenanigans, according to macrae's spiel, is to be helpful to those of us who can't be bothered to wait around for three flats to be sold in case it takes a while; an argument I found a trifle flimsy- their job surely is to (seek to) compromise as seems advisable between getting the best price for flats on one hand, and on the other taking steps to get them all sold so investors in NTA can get their reward.

For the finance director to come out and say, look guys these flats are gonna hang around on the market a while, so tell you what, I'll give you 96p now, save you having to hang around, well I don't like it.

[daneswooddynamo] 26/1/2013 12:55

presumably we will get some sort of resolution this week with hopefully damac encouraging spadille to up the ante a bit in return for damacs support and they can get on with it

[fireplace22] 26/1/2013 12:42

Just three flats left now (savills, hamptons). Not that it will effect us now I suppose.

[joe say] 25/1/2013 17:20

fradulent practice and clearly falls foul of the Companies Act 2006

[fireplace22] 25/1/2013 17:20

I'm prepared to believe anything of this lot.