Best Of The Best Share Discussion Threads

[n0rbie] 03/7/2023 08:37

“ What risks are their to holding this as a delisted stock?

I'm willing to hold forever really.”

You will have no way to sell them, so their value is effectively zero.

[peart] 03/7/2023 08:05

I'm not sure if the deal management struck with Sagi to go international went sour or whether Sagi or management simply changed their minds on it or perhaps Sagi is just a ruthless businessman who in his business operations, it's all about him and he will say or do anything to get his way. My suspicion is he's operated very ruthlessly with management who were foolish to get into bed with him. When they realised the awful terms he was offering for the expansion, they baulked and took the option offered which was to get out at a derisory price for the business. They have already done very nicely with it over the years, so let's get out and move on. Long term holders have done well with BOTB, my mistake was not realising how much Covid was accelerating things (going fully online almost as Covid started disguised this) and creeping into the early 30's when I should have sold, and secondly not seeing management selling a chunk at £24 as another time to get out and move on. Anyway, I got in at floatation which was 63p, so I've done well with this, but it's all ended with a rather bad smell to it all, or as they say a sting in the tail. Maybe management just quietly wanted out (of day to day running), but still hoping on retaining significant ownership, Sagi saw this and then seeing the weakness manipulated the situation to his advantage. Who knows, but the delays with the proposed international expansion and Sagi's pretty derisory offer point towards a situation where Sagi has been utterly ruthless. That's my best bet. Good luck to all the people who have posted on this board for years - it's been fun. I sold out, baring a capful, on Friday for 525p. My thoughts were we might be waiting until the autumn for 535p and by then I can cover the 10p on returns on new investments, which I have already with dividends coming before then. BOTB will be dead money until the 535p's finally land (as in no growth and no dividends), assuming they do.... I'm holding the capful (81 shares) as if it's cash and am happy to wait for those monies!

[investographer] 02/7/2023 19:42

As a delisted stock- he could easily get this company valued at a far lower market cap.Unfortunately, everyone associated with this stock is tainted. It is no wonder Slater cut his losses and sold out now, not risking further losses if this gets delisted.

[lemonade311] 02/7/2023 17:15

What risks are their to holding this as a delisted stock?

I'm willing to hold forever really.

However I'm concerned that because he's an Israeli, he could move the companies headquarters to Israel and then just do something like buyout the minority shareholders for less than the price right now and we can't do anything as he won't be in the UK.

Is something like this possible from him?

[investographer] 30/6/2023 13:55

One of Slaters worst ever investments. Got duped into buying shares for 24 GBPHopefully there will be some sort of investigation into the charlatans that organised this. One of the best cons that I have seen for many years.

[tabhair] 30/6/2023 13:11

Yep, all over now and almost no chance of the offer being bumped now that Sagi has 75%.

Company said it has 28 days to get the offer document out to shareholders as of the 20th of June. Hopefully this can all be wrapped up within two months.

[doctor888] 30/6/2023 12:34

Update:

Stancroft Trust 7.42%
Chelverton 4.97%
Canaccord 4.7639%
Peter Cushen 2.99% - who is he?
Maitland 1.98% (selling)

Slater sold out - looks like it's game over

[doctor888] 30/6/2023 09:21

Update:

Slater 8.77%
Stancroft Trust 7.42%
Chelverton 4.97%
Canaccord 4.7639%
Peter Cushen 2.99% - who is he?
Maitland 1.98% (selling)

yes, Oddo sold to Sagi - he now has 66%.

[feverfan] 30/6/2023 08:29

I think this is a done deal now that he gets 75 and then game over. He’s got 42% himself and would suggest more will cave now…given he’s got what 20% from directors, so 62% plus Oddo presumably accept so 65%. Only needs 10% more.

Edit: Oddo out…presumably to Sagi given sold at 535. Nice 3.5% turn for them in what a few days?!

[doctor888] 29/6/2023 20:59

Update:

Slater 8.77%
Stancroft Trust 7.42%
Chelverton 4.97%
Canaccord 4.7639%
Oddo 3.59%
Peter Cushen 2.99% - who is he?
Maitland 1.98% (selling)

I am hopeful that he will fail to get 75% to delist. Need to get rid of the independent directors.

[tabhair] 29/6/2023 16:37

GIL is now interested in, in aggregate, a total of 4,971,443 BOTB Shares, representing approximately 58.75% of BOTB's issued and to be issued share capital.

Assume Oddo also accept the offer that gets Sagi up to 62.34%.

Only 12.66% to go, should be achievable.

[n0rbie] 29/6/2023 16:22

"GIL also announces that it is declaring the financial terms of the Mandatory Offer to be final. As a result, GIL will not be permitted under the Takeover Code to increase the Mandatory Offer."

I like that they still have to include this nice and big in the same release:

"As stated in the Offer Announcement, the Independent BOTB Directors accept the advice of finnCap who have advised as to the financial terms of the Mandatory Offer. finnCap has on balance determined that, in their opinion, the financial terms of the Mandatory Offer are not fair and reasonable."

[slopsjon2] 29/6/2023 16:15

Sagi now has 38.67%

[doctor888] 28/6/2023 15:37

Updated

Slater 8.77%
Chelverton 4.97%
Canaccord 4.7639%
Oddo 3.59%
Peter Cushen 2.99% - who is he?
Maitland 1.98% (selling)

[fft] 28/6/2023 15:16

Suppose it depends on how long people think this will go on before being unconditional. If 3 months and you can make 6% elsewhere, then it isn't a great improvement and 6 months wait would be a neutral strategy (15/520 for 3 or 6 months).

[tabhair] 28/6/2023 13:47

Oddo run a merger arb fund, I imagine they are in this to accept the 535p buyout.

I bought a slug of this myself today at 519p as I can't see this not going through. I think there's a free option on the bid being topped up as well.

[doctor888] 28/6/2023 09:04

Oddo buying in - interesting.

Currently:

Slater 8.77%
Chelverton 4.97%
Canaccord 4.7639%
Oddo 3.59%
Peter Cushen 2.99% - who is he?

just over 25% here

[doctor888] 27/6/2023 16:35

Sagi still buying and now Octopus have sold out - disappointing.

[doctor888] 26/6/2023 15:26

Seems like the MM's are letting lots of large trades through - allowing Sagi to buy more below his offer price... Selling and buying with a tight spread: in terms of buys: 11410 shares on 20 Jun 2023, 10497 on 21 Jun 2023, 12037 on 22 Jun 2023, 20708 on 23 Jun 2023.

Currently:

Slater 8.77%
Chelverton 4.97%
Canaccord 4.7639%
Peter Cushen 2.99% - who is he?
Octopus 2.39%
Finncap - about zero (230 shares)

Seems touch and go re the 75% if all the above and enough retail investors vote against Sagi.

[jackson83] 23/6/2023 16:42

THE FOUNDER / INSIDE TRADING SOLD OUT AT 2800P. LOL .... BIG PROFITS


TIME TON SELL / SHORT IT

[jackson83] 23/6/2023 16:40

ITS ALL GOODS
HSAPPY TO BE SHORT SELLING STILL FROIM £32 NOW IN THE `£5 LOL ..


THE BAD HOLDERS WILL PRAY FOR A TAKEOVER AT 5.25p OR THIS WILL BE SOLD DOWN TO IOR THID IS HEADING INTO THE 400p's

[doctor888] 22/6/2023 22:12

@Peart @davidosh The fact that the offer document is called Project Bugatti demonstrates that the directors were in step with GIL.

@investographer GIL still needs 75% to take us off AIM. If we, Slater and the other IIs reject the offer, there is still hope.

@bridggar Agree. A lot of nonsense and scare tactics in the Project Bugatti documents. Who wouldn't sacrifice temporary cessation of dividends for the chance of future growth in earnings?

@feverfan Good spot. Could buy at 520p today. Suggests that their scare tactics have worked to some degree.

[feverfan] 22/6/2023 07:54

I’ve found a way for us all to get one over Sagi. You buy some shares, say 100 at £5.25. Sell them back to him at £5.35 and pocket the 10p = £10, minus £5 dealing commission leaves you enough for a drink. Drinks on Sagi! :) (This is not advice…)

[bridggar] 22/6/2023 07:36

Exactly this - its why the offer is full of threats. Bought more today.