Alkemy Capital Investments Share Discussion Threads

[puffintickler] 14/10/2015 13:33

Space

Yes, if the purchaser gets over 90% acceptances he can (and will) compulsorily purchase the rest, the price will be the offer price irrespective of whether the holder accepted or not.

BIGT
No, not despicable, just pragmatic. Companies taking over another are allowed to compulsorily purchase the rest once they have 90% in order to avoid small minority shareholders effectively being able to demand a higher price for their holding by threatening to keep their shares and thereby imposing high ongoing admin costs.

[spaceparallax] 14/10/2015 13:21

I'd be happy with that - it worked out very well at JCR.

[pj 1] 14/10/2015 11:03

Only if they get above 90%, otherwise you remain a shareholder in a private company?

[spaceparallax] 14/10/2015 10:58

Surely if the takeover happens, all shareholders will be entitled to the final price at which it is effected, irrespective of whether they have willingly accepted the offer or been forced to.

I was just confused over the two headline numbers, which essentially seem to say that more than half the shareholders reserve the right to accept any alternative offer. i.e. BB should either seal the deal with an enhancement or be prepared to be usurped by another suitor.

[the big fella] 14/10/2015 10:17

You may as well accept the 36p and move on. There is no point remaining a minority dissenting shareholder. At some point they will get 90% and can compulsory purchase your shares anyway. By dissenting all you are doing is delaying the receipt of your cash.

[pj 1] 14/10/2015 10:05

If my understanding of his is right (please check) then for any nominee accounts the default has been actioned which was to reject the offer.

As here is no timescale applied then any nominee accounts who did not accept run the risk of holding paper shares in an unlisted company (probably unable to sell ?)

[bigtbigt] 14/10/2015 09:47

Space parallax - you may have missed the bit that says "all remaining conditions to the Offer have now either been satisfied or waived."

They'll now take the 78% at 36p (and any more that agree soon), leaving other shares to drop in value. When they have >90% they can forcefully take the rest.

Sounds despicable to me

[puffintickler] 14/10/2015 09:46

162 M %100 shares in issue

126 M %78 accepted
(36 M 22% not yet accepted)

Of which:
57 M %35 irrevocable undertakings*
69 M %23 owned by BB (and those who have accepted the cash offer?)

* Big shareholders who have agreed to accept the offer irrevocably (unless a counter offer is made).

[spaceparallax] 14/10/2015 09:01

I don't understand the two headline figures in the RNS - can someone please explain?

[puffintickler] 14/10/2015 08:38

RNS Offer declared unconditional.

But still 22% of us out there.

[the big fella] 13/10/2015 11:48

I think they are pricing at a done deal.

[spaceparallax] 13/10/2015 10:38

Interesting to see that shares are being collected at prices so close to the current offer. It's looking ever more likely that an improved or competing offer will be made.

[spaceparallax] 12/10/2015 11:09

lets hope such practises receive the same level of scrutiny in future that issues like PIP and other dodgy dealings are currently experiencing. Just a shame that leechlike pseudo solicitors are makeing a mint from the clean up.

[pj84] 10/10/2015 23:57

IR35 and PJ1. My wife took a call from someone who asked to speak to me about shares but I wasn't home and quite rightly she assumed it was a scam. The caller persisted and she said to email me or post the details. The caller then quoted my SIPP and ISA provider through which I have nominee holdings in Alkane and again quite rightly she said you should have his contact details and ended the call. My provider has sent me the details to accept the offer or to take no action and I am fairly certain the caller wasn't from my provider and I had the same thoughts regarding data protection and how they knew I had a holding in a nominee account and my home phone number. I haven't accepted the offer and have no intention of accepting.

[mortimer7] 09/10/2015 15:55

Agree lageraemia. I've held since 2002, 128p!!
I'd pretty much written these off until the last couple of years when things started to look promising again, so I don't want to lose my holding at this juncture.

[spaceparallax] 09/10/2015 15:22

here, here

[lageraemia] 09/10/2015 14:20

They have zero chance of getting 90% with Pendragon, ODDO and the Maven guys already holding 8.4% between them and still buying.

I'd be happy to see this bid fail personally, having held/followed ALK since 1999, I'm prepared to wait. BB aren't even offering any near an all time high.

[ir35] 09/10/2015 12:18

PJ 1

Its not the first time this has happened to me when there has been a takeover offer. I cant remember who the message was from - it went on for a few minutes and I deleted it before I got to the end. The girl/woman that called had a foreign accent and kept calling them Alkine. It is usually some company hired by the bidder to call up everyone and push them into accepting.

I guess I will get another call in the next few days:).

[bigtbigt] 09/10/2015 10:23

With almost 80% in first push, and needing to convince only 1/2 of those not yet tendered via their second push, this will definitely go through.

But it does look like they may need to sweeten the deal a bit - which they probably always expected.

I predict a 44p final price plus/minus a penny or two. I.e., 20% more than initial offer

[puffintickler] 09/10/2015 09:58

Although arguably worth 50p+ i guess most remaining holders would sell short of that, a revised offer North of 40p should get them beyond 90% and give full control.

[spaceparallax] 09/10/2015 09:33

Interesting that they're falling short and having to extend. Let's hope there are more stubborn longtermers like me. Let them offer a decent price or leave us be to realise the true potential of the share.

[amont92051] 09/10/2015 08:24

What makes you say 'done deal'? they fell short and failed to get enough so they have extended the deadline in the hope they will get the rest.
If not they have three options
withdraw offer
increase offer
extend deadline again
Obviously no counter offers at this stage but that's not to say there wont be if this bid fails or we could just drop back to 24pps and carry on as before. WTFDIK.

[rivaldo] 09/10/2015 08:05

Looking like a done deal - 78% acceptances and getting a bit late for counter-offers!

[benchmark] 08/10/2015 22:27

Pendragon Capital - bought call options??