32red Share Discussion Threads

[psmith1110] 20/6/2017 20:54

Got mine today too. Sorry to see 32Red go - it's been a good earner 💷

[davr0s] 20/6/2017 19:48

My cash arrived today (HL) - thank goodness

[spagboll] 19/6/2017 20:06

Nothing received. Just asked broker where it is. The announcement states 19th at the latest.......

[shaker44] 19/6/2017 16:52

Nothing via iweb yet. I expect funds tomorrow or wednesday

[psmith1110] 19/6/2017 16:28

Anyone had the cash yet ?

[psmith1110] 06/6/2017 20:30

At last .... I totally agree. I've learned my lesson - voting to accept meant staying in limbo for a bit too long for my liking.

[davr0s] 06/6/2017 18:44

Yes thank goodness. Note to myself next time is just sell! I was concerned that this might have unraveled and HL did their customers no favours by sending out a very misleading corporate action instruction. All learning points but at least this one's come good

[zodaz42] 06/6/2017 17:44

At last some positive news!
LONDON (Alliance News) - 32Red PLC shares will be cancelled from trading on AIM next month, after the recommended cash offer for the online gambling firm from Kindred Group PLC became unconditional in all respects as of Tuesday.

Red32 agreed to a GBP175.6 million takeover offer from Kindred at 196 pence a share in February.

32Red shares were down 0.3% on Tuesday at 196.0p per share. Shares are due to be cancelled from trading on July 7.

"The board of Kindred is pleased to confirm that all of the conditions to the offer have now been satisfied or waived, and the offer is now declared unconditional in all respects," said Kindred Group.

Acceptances representing 97.6% of the company's issued share capital have been received to date, and the offer will remain open to remaining shareholders until further notice. Settlement is due on June 19 to those who have accepted the offer before June 5, with any acceptances submitted thereafter receiving settlement 14 days later.

"32Red shareholders who have not yet accepted the offer are urged to do so as soon as possible," said Kindred.

32Red released its own statement that said: "The delisting will significantly reduce the liquidity and marketability of any 32Red shares not acquired by Kindred and the board therefore recommends those 32Red shareholders who have not already accepted the offer to accept the offer as soon as possible."

By Joshua Warner; [e-mail]; @JoshAlliance

Copyright 2017 Alliance News Limited. All Rights Reserved.

[shaker44] 05/6/2017 11:45

Poster on another site says they replied to his email saying funds should be paid shortly after June 7.

[psmith1110] 05/6/2017 11:22

As I understand it we are still waiting for regulatory approval from the UKGC. I did email them asking if they could provide any timescale for the decision but was told they couldn't as it was "commercially sensitive". Not helpful really as I only asked how long it might take as opposed to "are you going to approve it"

[davr0s] 05/6/2017 06:44

Didn't it go unconditional on 27 March?

[spagboll] 02/6/2017 17:26

Just got the response. They said the offer is now unconditional, I believe as of today which is why they only now responded. We should get more information on Monday. Hopefully telling us we will get the cash asap

[spagboll] 26/5/2017 11:55

Have messaged mine. Will let you know what they say. At least a lesson learnt not to be hasty in accepting an offer.

[davr0s] 25/5/2017 19:41

I asked my broker (HL) and they said I couldn't retract it and the shares were transferred into escrow many weeks ago - so believe I'm stuck unless someone knows to the contrary. A real pain

[spagboll] 25/5/2017 10:43

I see others are as frustrated as me. My understanding is that we can withdraw our acceptance of the offer, does anyone know if that is correct?

[shaker44] 12/5/2017 18:44

I guess ttr also were unaware reg clearance would take so long. Just have to hope it goes through and soon. Complaining won't get you anywhere surely?

[davr0s] 12/5/2017 11:58

I accepted the offer under the clear guidance that money would be received within 2weeks - that was 2months ago so less than impressed. I queried my broker HL and they said that the 2week timescale came from TTR. What were others told as I am inclined to put a complaint in as feel I've been mislead - but not sure who to complain to. I wouldn't have accepted the offer had I known it would take 2+ months but would have just sold

[zodaz42] 09/5/2017 10:52

It would appear that completion of the deal is subject to gaining approval from the the UKGC (UK Gambling commission). I guess they are going through a "fit and proper company" procedure, particularly sensitive for overseas control of British gambling interests.

[makinbuks] 05/5/2017 12:09

And todays announcement from Kindred clarifies that we are waiting for regulatory approval and no timescale other than "soon" is given. Somewhat unstisfactory

[makinbuks] 05/5/2017 12:07

Here's what iDealing told me:

I have checked myself and can confirm that iDealing accepted the offer for 32RED on your behalf on 22 March.

The shares are held correctly in Escrow, and are available to the buying party.

I note the Offer Update on 27 March



The Offer was declared unconditional as to acceptances as of this announcement.

The Offer has not though been declared "Wholly Unconditional as to Acceptances" where the 10 day rule - if the offer was subject to the London Takeover code , would apply.

This Offer is subject to the laws of Gibraltar, and so this might (though I am not sure that it does) have a bearing on the likely date of receipt of the offer proceeds.


We're still waiting the proceeds; we're correctly in place, and were so in good time.


We await further announcements.

[davr0s] 03/5/2017 12:46

Still no cash arrived and we have buyers at 199 - all very confusing

[mrchriss] 26/4/2017 13:16

Same here. Still showing as a holding in my ISA.

[davr0s] 24/4/2017 09:08

Anyone heard anything or seen any cash - it's 4 weeks since it went unconditional and HL indicated that payment would occur 2 weeks after then but it's a been a month now - just spoken to HL and they have no more update to give

[shaker44] 09/3/2017 14:59

Yep.doesn't seem.like much alternative now

[muffster] 09/3/2017 14:09

Anyone voting for.?