Prosperity Minerals Share Discussion Threads

[fft] 17/7/2013 16:00

unless stock trading is not being reported, the volumes going through will not make much difference.

[celeritas] 17/7/2013 12:38

Lim will be mopping up any loose stock, still circa 22p in it for new buyers.

[fft] 17/7/2013 10:00

glad I picked up an extra 60k on Monday then !

[dr contrarian] 17/7/2013 09:44

fft same here - think the idea is to pick up the loose stock first at the current price whilst at the same time restricting those who wish to buy.

[fft] 17/7/2013 09:27

Tried putting through an electronic buy order this morning, and it wont quote me for 5k or 10k. No problem doing this on Monday. is anyone else able to get online quote for 5k or 10k ?

interestingly, 2 MM's have moved up on the bid side this morning, despite the lack of trades published so far.

[topvest] 16/7/2013 20:21

The price will stay below 130p in my view until the cash rolls in as Wong has quite a track record in deals being on / off / renegotiated. There is no certainty that an offer will be forthcoming.

[celeritas] 16/7/2013 14:53

At least we now know what is happening, no more wondering when it will happen.

[edmundshaw] 16/7/2013 14:07

I've also added. If the purchase goes ahead, simple profit. If the PIHL purchase falls through, this is still tremendous value for 2014, though I will be rather overweight in this stock.

[celeritas] 16/7/2013 12:52

I've added phil.
The minimum will be the put option price which just happens to be 130p, it may get sweetened yet as Wong knows he is doing long term holders a disservice, then again would his morals really trouble him.
The share price hit 90p recently so the current price is hardly much higher.

[philjeans] 16/7/2013 11:38

So nobody else fancy a free 25% uplift here?

How could they justify reducing the offer price? And it's possible they could increase it, if we all shout loud enough.

I'll be adding again at this price.

Medium risk/ high reward.

[edmundshaw] 16/7/2013 11:07

2p final dividend looks bad now. Wong is in part using PMHL's own cash to buy it out. And just before the big - already known but not yet booked - property profits. Cannot blame Wong for buying PMHL and dropping the AIM listing, but it is not a fair price. He could afford to be fairer.

[topvest] 16/7/2013 09:26

I wonder whether we will ever get the final dividend, given its not payable for several months!!

[topvest] 16/7/2013 09:25

I don't think that you can blame Wong really. It's been on AIM for quite a while and paid a dividend every year. If the valuation is very poor, then it's in PIHLs interest and Prosperity shareholders' interests to merge the two businesses.

[celeritas] 16/7/2013 08:57

aim is an unnecessary cost and more time consuming with the added paperwork.
Wong could have done something to close the NAV gap blaming the undervaluation as a reason. All part of the plan in my opinion to get pmhl cheap.
Hopefully this is a tester offer with the full price closer to 150p

[philjeans] 16/7/2013 08:48

Although the bid is derisory at approx one third of the net assets, I can't see it failing, or going through at less than 130p.

This has been Wong's strategy all the way through, as the share price has become more and more out of line. So at this give-away figure, why wouldn't the boards of both companies; the bank and us, refuse to accept? This is Wong's chance to grab a huge amount of profit and cash at a discount of 66% plus!!

We all know it should be more like 300p but he's got over 60% and it's HK take-over rules , not LSE.

Just nabbed another 15k - the gap is unrealistic.

[celeritas] 16/7/2013 08:09

Looks like I was right with the dividend, I bet it rises substantially once pihl have the whole of pmhl.

[fft] 16/7/2013 00:46

surprised by the low volume in PIHL on Monday. about the same as a normal day, and no real increase in price.

[dr contrarian] 15/7/2013 16:39

Been out most of the day today .... wasn't expecting offer news today ...

Up 31% today and hopefully more to come, well done to all those that stuck with the shares.

A 130p bid undervalues the companys assets, however I think most shareholders here were aware that the Chairman and PIHL had the voting power to push through an opportunistic bid of this nature at some point.

[edmundshaw] 15/7/2013 15:56

BTW, more information from the PIHL announcement. Just adding a link here to be sure everyone has had a chance to see it.

[celeritas] 15/7/2013 15:52

try, I added when the price fell back, really it's a gamble on if the deal will go through or not.
Why won't it, money won't be a problem so that leaves shareholders, most will be glad to get out to tell you the truth, it's such a frustrating stock, so I do think 130p will be accepted. I would have been happier with 150p+ but expected Wong to try and get pmhl cheap. Really it matches that put option granted to LIM. Lim have probably been buying to pass this through with little recourse.

[trytotakeiteasy] 15/7/2013 13:45

Cel - still a buy at these levels?? What do you think

[fft] 15/7/2013 13:17

There are sellers around. I have been able to pick up a reasonable amount at the mid price in chunks of 10k a time. Downside appears limited.

[celeritas] 15/7/2013 12:25

Hopefully the deal is made a little sweeter than 130p.

Raising funds, what a load of rubbish, like pihl will have any trouble with all the cash pmhl has. Just a temp loan is needed.

[fft] 15/7/2013 10:26

Normally, the potential acquirer would also be buying stock in the market to help/make sure that the bid was successful. It would also save them money compared to paying the full t/o price.

In this case, the bid has to be approved by PIHL shareholders, so that I am not sure that they can do this. The holding they have could also be an issue, until after the formal vote.

At the moment, it does seem a slam dunk to buy at 1.05 and sell at 1.25 in a months time in the market.