B.s.d Crown Share Discussion Threads

[moneyman18] 15/11/2016 11:19

YET it appears that shares are still being traded in large amount, unless I miss read the latest share declarations

[hotfinance14] 14/11/2016 17:21

Thanks for the overview.

[gclark] 14/11/2016 17:07

There are two groups here, the Willigers and the current Board, who are fighting for control of the company. One of the things I was told at the AGM, and it was clear from the body language and communications, that they are in dispute with each other, legal suits are flying.
You have to decide which you support - I was warned to be careful what I want, and others need to be clear as to what they want.
The current Board have been in control of the company when large sums of BSD, and now I believe WilliFoods, money has been used as collateral on loans, and the financial institutions involved take the view that the money is now gone, until the loans are paid back. That will be resolved in court, but it may mean none, some or all of the money will be returned. My expectation is for none-some to be returned. Others on this BB seem to believe that loads will be returned, mmmm.
So the Board were reluctant to allow this Tender Offer and I was surprised it appeared on the BSD website even, as it is some shareholders seemingly trying to wrestle control of BSD from the Board.
The Board did take this legal action, and may be winning, perhaps, who really knows. Maybe the tender offer will need to be changed. At worst, we just get our certificates back. I do see this as a last way out, to be honest.
But when you make comments, you need to be clear as to who you are referring to, the Board or the petitioners trying to wrestle control from the Board.
If you haven't sent in your shares, I would wait a couple of days, you have until 21st, to see if there is a response from the Willigers.
AIMHO

[hotfinance14] 14/11/2016 16:26

Has the tender offer been cancelled ?

[ragewarrior] 14/11/2016 15:47

They are a useless bunch of tosses...

[grahamburn] 14/11/2016 15:16

Bit late in the day, but hardly unexpected!



Anyone who has joined the tender offer has my sympathies if the company are successful.

[milosmilos] 14/11/2016 11:20

@ragewarrior
The offer is open until 21 Nov

[m welsh] 08/11/2016 10:53

See Taagidim Ltd has sold 5,598,000 shares, which leaves them with "0", does this mean they must have sold them to Yossi Willi Management !!

[gclark] 06/11/2016 22:28

no, it was extended. You have until the 21st Nov I believe. Look at the website, info given above

[ragewarrior] 06/11/2016 16:55

Is this offer now closed, I have some certificates. ?

[gclark] 06/11/2016 11:56

I have already sent my certificates, some of which came from Halifax so with BSD on them, but an older one I am pretty sure still said Emblaze. Grahamburn seems to know loads about all this, so maybe see if he responds.

[gwpaterson] 05/11/2016 17:37

Did B.S.D issue new certificates after the change of name? I only seem to have one for Emblaze and need to return it to complete the election.
Cheers.

[hotfinance14] 31/10/2016 16:27

Found it..cheers.

[gclark] 31/10/2016 16:26

One final point of information, I did speak to Yossi Willi people at the AGM, which is when I heard there might be a tender offer. The point was made to me that there is only around 20% (may be a bit more) of free floating shares in BSD as all the others are in the hands of BGI (do they have around 40-45%?), who are considered the 'controlling shareholder' (even though they technically don't have over 50%) and current and past directors, and some with Yossi Willi already. That is why the expectation is low. It is not anticipated that any larger shareholders are selling, sometimes because they have other interests in not selling, options, are suing somebody else and all kinds of things!

[gclark] 31/10/2016 15:38

in the left column on that page - it says 'search BSD' and then 'share price information ... etc ' - click the last on the list 'Tender Offer'

[hotfinance14] 31/10/2016 15:30

GClark..where were the documents on the BSD website to complete the offer ?

I tried :

hxxp://www.bsd-c.com/investors

but could not see anything.

[grahamburn] 31/10/2016 09:19

Stand corrected - misread the RNS.

Presumably the situation if less than the minimum percentage is tendered must be in the Offer Document which is available on the BSD website. Can't be bothered to go through it in detail, partly because the sudden reduction in the minimum amount acceptable implies that Yossi Willi aren't confident of getting much more than that figure.

But who knows with the company......

[gclark] 30/10/2016 17:25

I have re-read the RNS and the 6% is the minimum, so going back to my original point, I am unsure as to what happens if under 6% are offered. Maybe it is up to Yossi Willi to decide.

Everyone makes their own judgement as to what is likely to happen in the future.

[waterloo01] 30/10/2016 17:01

Graham, not involved here but not sure you are right. I think they have reduced the minimum they would buy to 6% not the maximum which remains 20%

[grahamburn] 30/10/2016 14:43

Yossi Willi are willing to purchase UP TO 6% of the share capital at 27.5p

If fewer than that are tendered, then presumably all your shares will be bought up.

However, be careful what you wish for, gclark, because if MORE THAN 6% of the share capital are tendered, then all tenders will be scaled back pro rata so that the total number of shares bought adds up to that 6%. So, for example, if shareholders holding 12% of the total shares tender these, only half of your holding will be bought and a new certificate for the remainder will be returned to you. (Obviously, the more shareholders who try to offload their shares in this tender, the fewer of every individual shareholder's shares will be accepted - ie if everyone tendered their shares, only 6% of your shares would be bought!)

That would also mean there would be higher costs to sell those shares in certificated form should the shares ever be relisted than if they had remained in a nominee account.

That's why, sitting tight might well have made more sense at this stage, especially if the company is worth considerably more should the funds be recovered with compensation. That is especially relevant to small holders.

[gclark] 30/10/2016 10:56

Sent off my shares and the tender form and tax form on Friday. I don't believe any tax will be deducted.

I'm not sure if there is a minimum % acceptance level (is it 6% now?) that needs to be achieved for any shares to be accepted under the offer, but if there is, then I urge others to accept, of course, if they want to!

My reasoning is that when the shares were suspended and the news about the cash being used as security on loans became more public knowledge, I feared I might not get anything back from the shares. That is why I attended the AGM. In light of all the uncertainty, 27.5p is ok for me.

AIMHO

[moneyman18] 25/10/2016 12:19

What is clear is that no one else is making any other offers

[plake] 23/10/2016 21:01

Thanks for your input.

[waterloo01] 23/10/2016 18:34

No shares anymore but generally a bird in the hand (especially when it comes to this lot of crooks). My impression is the Willi bros wan their business back but paying a great deal less than they sold it for. If you want to be involved in a Kosher food business, then OK, but I doubt many investors are in Emblaze/BSD for that reason.

Might be a pot of gold IF they can get the money out from the Ukraine (?) via Mein bank, but I doubt it.

[moneyman18] 23/10/2016 15:17

The only reason I mention anything is that a long time ago there was a company called Danka. I owned several million shares and I remember selling them for 1p, just before they were suspended. Then several years later that company was sold, IF I had kept my shares I would been a millionaire, I don't know that for a fact but the info makes me think that would be the case.

These guys from what I can work out were involved in DANKA, either that or I have mixed them up with other people, which is also possible,

Other than that hunch I know nothing. I did a while ago try to ask for a view from people involved but they were very formal and would not even consider giving any view.

I guess only the future will tell you what you should have done,

But if that did happen and you sold now, at least you will have a story to tell ( the one that got away)