Investment Evolution Cre... Share Discussion Threads

[squintyflinty] 16/12/2008 14:00

If you already have instructed companies like Jarvis Investments or T D Waterhouse etc to accept the offer, make sure that you chase them up to execute your instruction with immediate effect. I have a nominee account with Jarvis and I asked the corporate action department if they had received my acceptance letter. They said that they had and it would be submitted electronically on Dec 29th.I told them that this was unacceptable espescially in light of today's RNS.If we relly on companies like Jarvis to act like this,they will take it to the wire.I have since reported them to Merryl Lynch for not acting immedately upon receiving clients instructions.They in turn will approach these companies in order to eliminate any delay in registering our votes

[katsy] 16/12/2008 13:58

IECA according to ADVFN the volume is zero.

[abcd1234] 16/12/2008 13:50

"Don't know if anyone uses Jarvis.I haven't received any forms so I rang them and they said they'd post them."

.... and people pay those guys for a "service" like that?


(p.s. well done serratia for chasing them)

[serratia] 16/12/2008 13:44

Don't know if anyone uses Jarvis.I haven't received any forms so I rang them and they said they'd post them.I'm not sure they will get to me and back by friday.They also said they will not accept phone/e-mail confirmation.I wonder how many others will be ignored?

[debbiegee] 16/12/2008 13:26

Assented trading facility puts a whole different light on the deal.


I think many have juggled positions and will be thinking from now to open T20 trades.I know I sold trades that were due at the end of last week and the begginning of this.

I would expect a rise a day from now as traders pile back in.
NOTHING TO STOP ANYBODY VOTING NOW!!!
please take a minute to vote even if you wish to adjust your holding further down the line !!!

[abcd1234] 16/12/2008 13:24

"allows Imperial Energy Shareholders who have
accepted the Share Offer to continue to trade in
these shares."



yep, they're on the ball
Imperial Energy dispell each myth/potential difficulty as it arises

[weektraderonholiday] 16/12/2008 13:20

seen latest rns? Great idea!

[togglebrush] 16/12/2008 12:44

Stuart14:- I get the raw data from ADVFN (Price Data Downloads: Option IEC, OHLCV, dates etc) and then use an Excel Spreadsheet.

[jac1104] 16/12/2008 12:35

Only Capita Registrars will have an official tally of the number of shareholders who vote for the Tender Offer.
They will inform Deutsche Bank, ONGC's advisors once the 90% threshold is received, who in turn is obliged to inform Merrill Lynch/RBS, Imperial's advisors.

Most private shareholders hold Imperial shares in nominee account. The majority of nominee accounts can accept the Tender Offer online/email/phone to their broker.

The few shareholders who hold share certificates in Imperial (ie physical paper share certs that your broker will have sent to you) will receive the Tender Offer by mail from the Registrar, and you will have to send back the Acceptance Form via post - recorded signed for delivery given the festive period and potential postal strike.

Hope that clears things up

[sailor9] 16/12/2008 12:32

Katsy:

Achtung, Achtung ;-)

Aaaand action ! (in a Hollywood accent)

[katsy] 16/12/2008 12:27

Acton Acton, in a German accent!

[sailor9] 16/12/2008 12:22

News for all shareholders in Germany !!!

Finally, I received the formal takeover offer. My German "Sparkasse" sent out the letter by post yesterday.

To take care of the long post running time, they send me also a copy by email.

This is a text copy:

---------------------------------------------

TERMINSACHE: EINGANG BIS 22.!2.2008 - 12:00 UHR
ABFINDUNGSANGEBOT

Nominale Wertpapierbezeichnung
Stück xxx Imperial Energy Corp PLC, Registered shares LS

Sehr geehrte Damen und Herren,

als Aktionär der Gesellschaft erhalten Sie ein Abfindungsangebot:

Abfindungspreis je Aktie: GBP 12,5
Übernehmende Gesellschaft: Jarpeno LTD., eine Tochtergesellschaft der ONGC Videsh Ltd.

Die Annahme des Angebotes unterliegt für Übersee-Aktionäre bestimmten Restriktionen. Nährere Informationen dazu liegen uns nicht vor. Bitte überprüfen Sie selbst, ob Sie unter Berücksichtigung der Restriktionen berechtigt sind, am Angebot teilzunehmen.

Wenn Sie an dem Angebot interessiert sind, benötigen wir Ihren ausgefüllten Dispositionsauftrag spätestens am 22.1.2008, 12:00 Uhr. Ohne Ihren Auftrag werden wir in diesem Fall nicht tätig.

Abgerechnet wird u den üblichen Provisonen.

Das Angebot wurde in den Wertpapier-Mitteilungen bzw. von unserer ausländischen Depotbank oder vom Emittenten veröffentlicht. Wir sind verpflichtet Sie hierüber zu informieren. Dieses Schreiben stellt keine Empfehlung dar.

Ihre Fragen beantworten wir gern.

Mit freundlichen Grüßen

Sparkasse xxx

-------------------

In case any client with a German depot, who owns Imperial Energy shares and who has not yet received an offer:

Pls. make alarm at your bank. Call them or visit them. They are "verpflichtet" to inform you !!! I shall do it hard with my other banks in Germany and Switzerland, where I have also Imperial shares.

Remember:

CASH IS KING !

Pls. do it like I: vote immediatly with yes for the Offer.

If you do nothing, your voting right does not count. Then the 90 % might be missed and the cash might not be paid out to you...

[katsy] 16/12/2008 12:19

It would've been nice to have a percentagometer showing the progress of the vote on a hourly progress.

PS I assume volume should slowly diminish as time goes by as more shares are locked once pledged. Is it possible to see a short squeeze of the VW like. Maybe we can trade at £15

[stockeye2] 16/12/2008 12:15

Lucky you.....

Will see if I can get them on line.

[stockeye2] 16/12/2008 12:07

abcd, thanks for clearing that up.
Would be nice if everyone does respond by 23rd that way we might even cross the line before the closing date - fingers crossed!

[abcd1234] 16/12/2008 12:04

Stockeye, it would be most useful if u phone ur Client Services a/c mgr at BarclaysStockbrokers, and advise him/her to tell the Corp Actions team, that the general phone enquiries desk is giving out the wrong dates etc ... (left hand, not knowing what the right hand is doing etc ) ....I'm not in the UK at the moment so can't do so myself

[stuart14] 16/12/2008 12:01

Togglebrush, I find your volume data really interesting. Do you collate it yourself, or is there a site you go to for it? Thanks in advance.

[abcd1234] 16/12/2008 11:57

stockeye

not sure who u spoke to, but below is the Barc letter

this has been sent to all clients, and emailed to all overseas ones (who will also get it by post)

Note that they stress repeatedly, and in caps, 23rd Dec to reply


~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

##################################################

THIS LETTER IS IMPORTANT. IF YOU WANT TO MAKE AN ELECTION UNDER THE
CORPORATE ACTION YOU MUST DO SO BY 23 DECEMBER 2008.

We have been notified that Jarpeno Limited (Jarpeno), a wholly owned subsidiary of ONGC Videsh Limited,
has made a recommended cash offer for the share capital of Imperial Energy Corporation plc (Imperial).

TERMS OF THE OFFER

FOR EACH IMPERIAL SHARE YOU HOLD YOU CAN ELECT TO RECEIVE £12.50 IN CASH.

For example, if you hold 100 shares, you can elect to receive £1250.

As a guide, the last closing price of an ordinary share on 11 December 2008 was £10.61.

KEY DATES

23 DECEMBER 2008 - FINAL REPLY DATE

The funds are expected to be received within 14 business days of the offer being declared unconditional in all
respects.

We will endeavour to release the offer proceeds to your account within 5 business days of receiving them.

We wish to remind you that in accordance with our terms & conditions, funds which are in the Cash
Management Service facility within your account are held on the understanding that they are for the
purposes of dealing.

OPTIONS AVAILABLE

CONTINUED............
1. ACCEPT THE CASH OFFER FOR ALL OF YOUR SHARES
2. DO NOTHING AND RETAIN YOUR SHARES AT THIS TIME

WHAT ACTION YOU NEED TO TAKE

If you want to accept the cash offer, your reply must reach us by 23 December 2008.

You can provide instructions in any one of the following ways. Due to the possible delays caused by
Christmas post we recommend that where possible you give your instructions online.

- GIVE YOUR INSTRUCTIONS ONLINE AT www.stockbrokers.barclays.co.uk.

- Login and select the 'Contact Us' link at the top right hand side of the page
- Choose 'Corporate Action - Instruction Only' link from the list of 'Instructions' options
- Choose the appropriate account from the dropdown list
- Enter the Stock Name
- Enter the Corporate Action Letter Reference 200801904, as without this number we
may not be able to action your request
- Input your instructions. Please ensure that you type clear instructions in the box or we may not be able to
take any action.
- Select the Green 'confirm' button to send your instruction and we'll send you an email confirmation that
your instruction has been received.

OR

- Give your instructions using the enclosed reply slip.
Complete the form and send to us in the enclosed envelope to Corporate Actions Department, Barclays
Stockbrokers, Aurora Building, 120 Bothwell Street, Glasgow, G2 7JT.

OR

- Give your instructions by telephone.
Call us on the number at the top of this letter with your instructions, quoting Corporate Action Letter
Reference 200801904.

ADDITIONAL INFORMATION

Please note the offer is not being made to residents of Canada, Australia or Japan.

If you are not resident in the UK, you may be subject to laws of your own country that require you to seek
permission before accepting the offer. Overseas shareholders are advised to consult their own financial
advisor with regard to this offer.

CONTINUED............
The summary of the full document might contain information that is important to you. You can obtain a copy
of the full document from the company website at www.imperialenergy.com.

*Calls to 0845 numbers will cost no more than 4p per minute, plus call set-up fee of 6p (current at November
2008) for BT residential customers. The price on non-BT phone lines may be different. Lines are open from
8am to 6pm Monday to Friday, (excluding bank holidays). If you are calling from outside the UK, please call
00 44 141 352 3971. For your protection and ours, to check instructions and maintain high quality service
standards, we may record and monitor calls made to or from Barclays Stockbrokers.

#########################################

[miamisteve] 16/12/2008 11:52

I'd guess the vast majority are held in Crest.

[stockeye2] 16/12/2008 11:52

Is anyone else a Barclays client?

They don't seem to be on the ball this morning. Called them up re my stock and they said closing is 5th Jan where as it's quite clearly the 30th Dec.

Called them back after speaking to IEC and I gather they've had ML and RBS on the phone setting them straight that it is the 30th Dec.

Not often you hear Barclays being apologetic but nice even if once in a while!

[abcd1234] 16/12/2008 11:51

No, you are correct, they do it electronically steve

[miamisteve] 16/12/2008 11:49

Haven't fully understood where posting comes into it. What % of holders will have to physically post share certificates.

If shares are held by a nominee and we accept do they then have to post the certificates out? I'm assuming not and that most of it is handles electronically.