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Transware Share Discussion Threads
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|Thanks TT, someone said 51p on another board.
I was hoping to get a common response but looks I will have to ring the registrar
tomorrow, but thanks once again.|
|80p i think|
|As above please?|
|Anyone remember what the price was when these were spun off of Gladstone please?|
|yes indeed...another good call|
|what happened here?|
|Cheque arrived today - now to close the door on this unfortunate episode.|
|coastie - not yet. I think it went Unconditional on the 22nd sept and takes around 2 weeks after that. If nothing then ring Capita Registrars.|
|has anyone heard anything or received cheques yet?|
|Thanks for that Isis. I agree it is a sorry tale. I wonder if the FSA could investigate the circumstances surrounding this takeover.|
|aquila - I spoke to registrars the other day and the offer has gone unconditional and cheques will be posted around the 5th October.
Hope that helps with this sorry tale.|
|Any further news of payments? I have been abroad and only learnt of the takeover after the event so I didn't respond. Will I still receive the money anyway or can I hold out as a minority shareholder? Would appreciate any info.|
|I phone Halifax today and was advised it normally takes two weeks for them to recieve money from registrars. On receipt of this they forward on.
Was advice to phone back around mid month
|Any news on this?? I opted to sell my shares for £30 each - havent had any dosh yet - anyone know when we are likely to get it??|
|IS TRANSWARE BEING TAKEN OVER IF SO SHOULD I SELL MY SHARES|
|The forms have to be there by 2nd september if you wish to accept. If you do not accept and they get more than 90% (very likely as they already have 84.5%) it will be compulsory in anycase.
I have heard of minority shareholders sometimes being offerred a better deal in some circumstances when not accepting, but you can bet they have this sewn up - this has been planned for quite awhile imo.
If you are unsure then ring Capita Registrars on 0870 162 3100|
|I have also received this offer which I must accept/reject by 27th August. Any idea what happens if I reject?|
|ISIS, thanks for that, i have not recieved any paperwork due to not holding certs. Can you please advise on what is need in the way of paper work being filled in. Do we have to accept? or what happens if we do not ?
Least i bought a few 100k more before delisting so i may regain a little of what i lost on my orginal holding
|I have received the document in the post.
Oyster & Trident have set up Eastchase to buy the whole company. Oyster & Trident already own & have accepted 84% and Oliver Cooke who calls himself an 'Independent Director' (LOL) has reccomended the offer @£30- per share.
The Offer ends 2nd September.
This was all a set-up imo. the delisting and dilution to walk away with the whole company - you can guarantee it will be sold on or re-floated (maybe Nasdaq) at several times this price.
This is morally criminal, but I doubt it is technically illegal - they have worked to a ruthless plan.|
|It's in response to offer at £30 per share announced at 1pm yesterday. Not cutting and pasting here, it's too big (search announcements under "eastchase")|
|Anybody any idea of the implications of the above.|
12 August 2004
In accordance with Rule 2.10 of the City Code on Takeovers and Mergers,
Transware Plc announces that, as at close of business on 11 August 2004, it had
in issue 264,939 ordinary shares of #10 each.
As at the date of this announcement, Transware does not have an International
Securities Identification Number for these ordinary shares.
This information is provided by RNS
The company news service from the London Stock Exchange
Since de-listing the board has continued discussions with potential investors and have entered into an agreement with both Trident Capital (US venture capital company) and Oyster Technology who are an existing shareholder which has invested approximately £4 million.
The company had 7900 shareholders which over 5400 held fewer than 1000 shares. It was proposed that the company does a share consolidation. The share consolidation will have the effect of buying out all shareholders who hold less than 1000 shares.
Trident has invested £2,382,240 and Oyster has invested £1,500,000 for which they have been issued with loan notes. Oyster has separately invested £1117,750 in return for the issue of 3,925,500 shares. The proceeds of which will be used to finance the redemption of the differed shares representing the fractional entitlements which arise from the consolidation
The directors believe that the company sales strategy is being executed with increasing success by the new sales team. Resulting in a promising pipeline of new work for the first half of 2004.
The independent directors have also been made aware that Trident and Oyster, or a vehicle established jointly by them may consider making a bid in the future for all the company's issued shares. The company has engaged in no formal discussions and no formal approach has been received and there is no certainty that an offer will be made
It should be noted that one of the consequences of the consolidation and the conversion of loan notes would be that of reaching 90% acceptance level of the new ordinary shares to which such a bid relates may easily be achieved. The acceptance by shareholders holding 90% or more allows a bidder to compulsorily acquire the remain shares.
Oyster has appointed Martin Scully to the board. Both Trident and Oyster have right to appoint two directors to the board.
Raven & Cooke agreed to remain as non-executives for the time being