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Quintain Estates Share Discussion Threads
Showing 7426 to 7449 of 7450 messages
|jazza 5 Sep'15 - 09:14 - 6972 of 7005 2 0 edit
Elliot made £millions profit in just a few days.
I think that's all the thanks they need!
My extra gain is somewhat smaller but welcome nonetheless.
|shorttracker.co.uk shows an outfit called AlphaGen Capital Ltd acquired a short position of 0.65% on 12th August 2013 and appeared to have forgotten about it.
That is three days before I acquired my first holding of Quintain at 89p so AlphaGen appear to have paid a heavy price for their paralysis.
When the Lone Star bid was announced Quintain was my largest holding and it has taken about ten trades to reinvest the proceeds.
Before the thread fades away I would like to take the opportunity to thank the people who posted wise comments from time to time and helped me try to figure out what was going on at Quintain.
In the Sherlock Holmes story Silver Blaze about the dog that didn't bark, Holmes asserts that if a set of events can only be explained with a single explanation that that must be what happened.
So in the case of Quintain, the clutter of different investments was gradually sold off, the development at Wembley was painfully slow, no dividend was paid and the stock priced at way below asset value.
QuePassa was one person who put his finger on the only explanation that fitted and in retrospect it was obvious. It is possible that Lone Star was in the frame for some time. So many thanks to QP - it is difficult to figure out investment opportunities without seeing other opinions.
All the best to all ex-shareholders and hope to see your comments elsewhere in the future.|
|my guess is you have hit the nail on the head.
someone desperate/forced to close out a short position or required to deliver stock and has to pay up to get the stock.
well done you! I wouldn't lose too much sleep about it.
look on the bright side. you have helped them out at only a 2p premium over the takeout price.
sometimes closing a short under force can be incredibly expensive when stock is in negligible supply.
ALL IMO. DYOR.
|The bidco cannot pay more than 141p..end of.[unless it then increases the bid price for all shareholders]
I sold mine today for 143.25,which feels a bit uncomfortable inasmuch as this seems too good to be true and,therefore, possibly is.
My best guess is that some arb took a view,went short a while ago,got caught out and is now struggling to cover the short and having to pay up to find anyone who still has stock other than the bidco.
I welcome anyone who can tell me what I've missed here.My stock was non-assented.|
|Well done deadly I managed to sell my 35K in the market for slightly more than the £1.41 offer (including the dealing charge - wish I had held out a bit longer now! I wonder if they are getting a broker to buy shares in the market in the hope that they hoover up all of the outstanding shares to avoid the expense and presumably hassle of going to the High Court? I expect they will pay the broker £1.41 for each share acquired and then compensate him for the losses incurred and his time and trouble. It does all seem rather bizarre.|
|i've just sold 8k shares at 142.75p.
Is there a better offer on the cards?
Or who is buying at that price?|
|Ok thanks for clarifying QuePassa|
Under takeover rules, even if you don't accept, you will ultimately be bought at out by compulsory purchase at 141p.
This is because they received more than 90% acceptances which gives them the right to buy out any residual shareholders.
Either you accept the offer which is still open in which case you might get the money more quickly or you don't accept the offer in which case you will be bought out anyway but which might take longer for you to get the money.
Please verify all of the above for yourself.
Read the RNS dated 8th. October which explains it all.
Either way, your shares are going and you will get 141p.
ALL IMO> DYOR.
What happens if you haven't accepted the second offer at 141p? Would you be forced to accept it and just get the monies as if you would have accepted it?
Thanks for your help.|
|Money in Selftrade/Equinity account d/d 14/10|
|Money paid out today with TD Waterhouse|
From a reliable source of someone who accepted the original offer that they have today received their takeover money.
2. Any Quintain bondholders may be in for a nice windfall according to this article.
ALL IMO. DYOR.
|I just got 142.1p per share for my holding. I put a sell limit via Barclays a few days ago at 141.2p to see if I could get my money out early and got an extra penny on top. I noticed the price has been spiking briefly recently. I suggest others try the same. Someone must be hoovering them up but there is no chance of a last minute higher offer IMO. Interesting.|
|At current price looks like Quintain would have made it into FT250 index next time around.|
|Assuming this is going to go through, do we have any idea on when the payout is likely to be?|
An interesting option.
I am still trying to figure out if there is more mileage in residential real estate in the UK. The prices are now high, there is a high transfer tax/stamp duty which has discouraged buyers, the new taxes on buy-to-let investors will gradually kick in and ensure a stream of sellers and the outcome of the Tom and Jerry Show or its successor, currently playing in Brighton, could discourage all economic activity in the UK as the next election approaches.|
|Some buying at or above the offer of 141p.
Another bid possible?|
|Yes well done QP and thanks for all your efforts|
|And for the future: Urban and Civic (formerly Terrance Hill)? Comments welcome.|
|Thank you very much indeed for your comments. Really appreciated.
Elliott were not there at the beginning in any way and were very late to the party but did indeed deal the final swift blow for which they have taken a lot of credit.
And Elliott perhaps made a lot of quick money. Maybe ten million dollars or more in barely a week ( 74million cfd shares x 10p give or take). Well done them.
I believe the eventual course of events was however influenced heavily prior to their arrival on the scene by the two failures where Lone Star/Quintain did not get the shares they needed at First or Second Closing.
Elliott weren't around then. Others, mainly private investors, were at that time doing the work and drawing the battle lines.
You normally see private investors taking a lead from institutional activity on M&A. In this case however, it is my personal view that some clever hedge-funds took the lead from private investors and that Elliott subsequently and astutely capitalised on this.
Shareholder activism at the private investor level is a force to be reckoned with going forward where I shall perhaps be taking a growing interest into the future. - Anyone wishing to send me a private email in this respect via ADVFN may do so.
Congratulations on the "nice" problem of having to worry about Capital Gains.
( Makes good use of your £11,100 annual CGT allowance and crystallise any portfolio losses elsewhere to offset gains).
Good luck to you and other holders.
ALL IMO. DYOR.
|I second Investoree in thanking Quepassa for his efforts in drumming up support.|
|QuePassa - thanks for all your posts and encouragement on the QED BB which combined with Elliotts circa 14% stake probably contributed to Lone Star making an increaed offer on what was clearly an opportunistic under priced bid supported by QED's weak/greedy management? I have decided to sell my 34,990 shares in the market this morning for slightly more than I would have received from the unconditional offer settlement - including dealing charges and the PTM levy.
My only problem now is that I will be lumbered with paying a substantial CGT bill next year as I also had my CSR shareholding taken over recently. My well laid plans to pay minimal CGT seem to have been thrown into total disarray.
Good luck to all ex QED holders (especially long term holders) on wherever you decide to invest the proceeds!|
|Its all over here boys.... a bit disappointed with my 3.5 fold profit....|
|Not so sure about that.
Certain foot-soldiers put up a great and unstinting fight against an opportunistic assault.
The other side tried to breach the walls twice but failed miserably on both attempts.
The heavy artillery may have come to the rescue in the end but in my view are unlikely even to have put in an appearance without the groundwork having been laid by the rank-and-file.
Whilst individually the foot-soldiers have a weak voice, collectively they can have a very strong voice when united. Even a small number of foot-soldiers can make a significant difference to an outcome.
ALL IMO. DYOR.