Best Of The Best Share Discussion Threads

[tabhair] 10/8/2023 15:24

Sagi now in control of 96.77% of the company.

"In accordance with the requirements of the Code, GIL has given notice that the Offer will close at 1.00 p.m. on
30 August 2023 and will no longer be capable of acceptance after that time."

Offers a final chance to cash out.

[danmart2] 26/7/2023 12:57

Indeed

4th august 1pm deadline

Never read an RNS that made it so obvious they will make life hell for anyone still invested

[n0rbie] 26/7/2023 08:08

It’s all over and time to move on. Such a shame to end this way.

[alfonsomg] 25/7/2023 18:53

Thanks danmart2

Such a shame, but nothing else to do here, at least for me. I don´t want to get trapped.

[danmart2] 25/7/2023 18:36

alfonsomg

99.9%

[alfonsomg] 25/7/2023 17:58

With an 80% ownership the chances of delisting are 100%?

[bridggar] 20/7/2023 12:44

Dereliction of duty from Hindmarch. Wouldn't surprise me if he is personally pursued by shareholders.

[triskelion] 20/7/2023 02:05

Hmmm... I see, so per the 14th July 18:00:02 RNS, GIL has including irrevocable undertakings "approximately 80.26 per cent. of BOTB's issued and to be issued share capital" (at that time) and "...A further announcement will be made regarding the expected date of Delisting in due course. ...." and urges remaining shareholders to cave in asap!
I have to wonder why certain shareholders found the offer irresistible.

[jackson83] 19/7/2023 05:52

SLATER PAID above 10 pounds average this is a scam company now

[jackson83] 19/7/2023 05:42

RE TAKEOVER NEWS


IT'S A WIN WIN for EVER ONE



UNLESS YOU PAID ABOVE 550P LOL

[jackson83] 19/7/2023 05:40

VELEY are going make millions and millions out of this TAKEOVER ... WAY TO GO BOYZ

[jackson83] 19/7/2023 05:39

this is a great takeover lol .. WE GOING BE MILLIONS RICHER .. THANK YOU BOTB

after I bought in at 17p in 2012

[n0rbie] 13/7/2023 11:16

Whoever put together today's RNS is incompetent, their URLs for the offer actually direct to the Bugatti website !

[lemonade311] 12/7/2023 13:36

How long will this buyout take until we are forced to sell?

[doctor888] 07/7/2023 12:33

Done deal for Sagi, but here is the latest update:

Chelverton 4.97%
Canaccord 4.7639%
Velay Financial 3.03% (buying)
Peter Cushen 2.99%
Maitland 1.98% (selling)

[n0rbie] 05/7/2023 14:19

The Velay one is interesting, just trying to make a quick buck flipping at 535?

[doctor888] 05/7/2023 11:29

Update

Chelverton 4.97%
Canaccord 4.7639%
Peter Cushen 2.99%
Velay Financial 2.98% (buying)
Maitland 1.98% (selling)

[bridggar] 04/7/2023 07:47

We shall see.

[feverfan] 03/7/2023 22:35

90% up he has squeeze out rights and has already said he intends to use them. He’s at 50 this morning plus management plus Stancroft sold today, it’s game over. IMO hitting 75 means he’ll hit 90 as all the IIs and most PIs (me included) go. Once he hits 90 he can squeeze you out so it’s just delaying the inevitable. This is sadly a done deal now and I have resigned myself to that. He ends with 100%.

[peart] 03/7/2023 17:33

I'm with you nOrbie. Whilst say the new owner say ends up with 95% with some shareholders holding onto 5%, management do not have to pay dividends. They could also dilute the 5% by say issuing options to controlling directors as a form of remuneration over time. With it not being listed I'm not sure they can simply demand the sale of their stock. Firstly, at what price, which judging on this transaction would be derisory, for whatever reason the main shareholder can drum up when dealing with a minor shareholder. A minority shareholder could perhaps take the owner to court to realise his/her holding, but at what cost and without a guarantee when undertaking such an exercise. Sagi has paid the minimum he could offer here, in my view, and he's not going to be generous with monority holders, who I guess he would view as an irritant, in the years to come. I'm not a corporate lawyer, but that's my understanding on this, and I appreciate that I could be wrong and will have left some detail out. The only way a shareholder would be guaranteed a cheque would be if Sagi sold the business outright in the future, then they would have to be paid. In the meantime, someone with say 95% of a business, quite rightly, has as good as total control.

[n0rbie] 03/7/2023 16:31

@bridggar - can you elucidate?

Unlisted companies have no obligation that I am aware of to provide a mechanism for you to sell your shares?

[doctor888] 03/7/2023 16:24

Update FWIW

Chelverton 4.97%
Canaccord 4.7639%
Peter Cushen 2.99%
Velay Financial 2.97%
Maitland 1.98% (selling)

[bridggar] 03/7/2023 12:08

Not actually true.