Investment Evolution Cre... Share Discussion Threads

[shiny1000] 22/12/2008 13:27

Funny when cawkwell takes a short position the mm's drop the share price but don't seem push the share price up when the fat evil goes long!!!

[napracc] 22/12/2008 13:16

Well they got a 97% take up for their rights issue earlier this year so the shareholders are obviously clued up. That must be a good sign because they would be bonkers not to participate in this takeover offer.

[madjock2] 22/12/2008 13:08

Anon - 22 Dec'08 - 11:24 - 18711 of 18720


I was having a look at the offer document from ONGC



Anon - 22 Dec'08 - 11:43 - 18715 of 18720


I'm not a lawyer but it looks like ONGC left a lot of wiggle room in the conditions to the offer




Anon

Before you waste your time in the future reading contract documents and scanning clauses please make yourself aware of the basic rules of contract law,and most pertinently what the outcomes are when someone attempts to break it. It will save you a helluva lot of time

[alexx] 22/12/2008 13:01

Evil
Don't see anything wrong with changing mind. This is precisely what many men are incapable of doing.

I wasn't short previously but have now taken a small long position.

[spob] 22/12/2008 12:13

Forget the price - the price will only close up when the RNS comes through

[spob] 22/12/2008 12:10

FT alphaville says they are hearing that more than 90% have verbally tendered so will likely go through.

[imperial3] 22/12/2008 11:54

People would feel more secure,if the price would be nearer the offer price,and not this disparity.Hence,the current nervousness.

[anon] 22/12/2008 11:43

I'm not a lawyer but it looks like ONGC left a lot of wiggle room in the conditions to the offer. 90% refers to the acceptance condition, not the rest of them. Any lawyers care to comment ?

[yuka] 22/12/2008 11:42

Cesar - it's called trading. You are allowed to change your mind.

[davius] 22/12/2008 11:31

Over 90% acceptances means that the offer goes unconditional, too late for them to pull out.

[anon] 22/12/2008 11:24

I was having a look at the offer document from ONGC. Apart from the loss of face and bad feelings caused to Imperial shareholders, what is to stop ONGC from dropping the offer even if 90% is acheived ? I could not find a financial penalty termination fee for ONGC. There is a financial penalty that Imperial would pay if Imperial terminated the offer process.

[davius] 22/12/2008 11:15

Since holdings of 1% or more must be declared it would likely be soon apparent what was going on. And I wonder what the takeover commission would have to say about them intentionally causing the bid to fail?

They could do it on the quiet, with a dozen entities all buying the shares to keep under the disclosure holding. But then they'd also be taking a £60m hit were the shares to halve. And if they shorted the bought shares, the buyers would have the right to accept the deal.

[miamisteve] 22/12/2008 11:13

Probably a couple of billion dollars in fines and 12 years behind bars.

[wshak] 22/12/2008 11:11

Simon Cawkwell has now gone long

Finally, and on to the stocks, I bought Imperial Energy (IEC) on Friday at £9.90. I am persuaded that this deal is going through.

[imperial3] 22/12/2008 11:10

What is there to stop ONGC,acting through financial intermediaries,accummulating shares in the open market,to exceed 10% and hence causing the bid to fail?

[shiny1000] 22/12/2008 11:07

Imperial...from Mr Hamilton of imperial energy....group finanace director.

[yuka] 22/12/2008 11:02

Wait and see if he is right first. Chicken counting is a dangerous pasttime.

[miamisteve] 22/12/2008 11:00

He's traded it well.

In hindsight seems obvious that there was going to be a period of doubt immediately after the offer document was posted where shorters could stoke up a few scare stories.

[alunmorris] 22/12/2008 10:56

Simon Cawkwell is now long.
LOL!

[imperial3] 22/12/2008 10:42

Where has it been reported that everything is going well? Have you some up to date information on this?

[shiny1000] 22/12/2008 10:37

Word is everything is going well, forget the daily nuances....this should be wrapped up as most institutions don't file everything in until a day or two before deadline.