Boostgold Discussion Threads

[isis] 25/3/2010 12:02

Wed 15:09
Trafalgar Asset - Rule 8.3 - Gladstone PLC
BZN
FORM 8.3

DEALINGS BY PERSONS WITH INTERESTS IN SECURITIES REPRESENTING 1% OR MORE

(Rule 8.3 of the Takeover Code)

1. KEY INFORMATION
Name of person dealing(Note 1) Trafalgar Asset Managers Limited
Company dealt in Gladstone PLC
Class of relevant security to which the dealings being Ordinary Shares
disclosed relate(Note 2)
Date of dealing 23 March 2010
2. INTERESTS, SHORT POSITIONS AND RIGHTS TO SUBSCRIBE

(a) Interests and short positions (following dealing) in the class of relevant security dealt in (Note 3)
Long Short
Number (%) Number (%)
(1) Relevant securities
(2) Derivatives (other than options) 1,450,122 3.0%
(3) Options and agreements to purchase/sell
Total 1,450,122 3.0%
(b) Interests and short positions in relevant securities of the company, other than the class dealt in (Note 3)
Class of relevant security: Long Short
Number (%) Number (%)
(1) Relevant securities (2) Derivatives (other than options) (3) Options and agreements to purchase/sell Total

(c) Rights to subscribe (Note 3)
Class of relevant security: Details
3. DEALINGS (Note 4)

(a) Purchases and sales
Purchase/sale Number of securities Price per unit(Note 5)
(b) Derivatives transactions (other than options)
Product Long/short(Note 6) Number of securities(Note 7) Price per unit(Note 5)
name,e.g. CFD
CFD Long 100,000 0.335 GBP/Unit
(c) Options transactions in respect of existing securities

(i) Writing, selling, purchasing or varying
Product Writing, selling, Number of securities Exercise Type, e.g. American, Expiry
Option
name,e.g. call purchasing, varying to which the option price European etc. date
moneypaid/received
option etc. relates(Note 7)
per unit(Note 5)

(ii) Exercising
Product name, e.g. call option Number of securities Exercise price per unit(Note 5)
(d) Other dealings (including new securities) (Note 4)
Nature of transaction(Note 8) Details Price per unit (if applicable)()(Note 5)
4. OTHER INFORMATION

Agreements, arrangements or understandings relating to options or derivatives
Full details of any agreement, arrangement or understanding between the person
disclosing and any other person relating to the voting rights of any relevant
securities under any option referred to on this form or relating to the voting rights
or future acquisition or disposal of any relevant securities to which any
derivative referred to on this form is referenced. If none, this should be stated.
Is a Supplemental Form 8 attached? (Note 9) NO
Date of disclosure 24 March 2010
Contact name S.J. Maidens
Telephone number 0207 534 6004
If a connected EFM, name of offeree/offeror with which connected N/A
If a connected EFM, state nature of connection(Note 10) N/A
Notes


The Notes on Form 8.3 can be viewed on the Takeover Panel's website at www.thetakeoverpanel.org.uk

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Wed 15:09
Trafalgar Asset - Rule 8.3 - Gladstone PLC
BZN
FORM 8.3

DEALINGS BY PERSONS WITH INTERESTS IN SECURITIES REPRESENTING 1% OR MORE

(Rule 8.3 of the Takeover Code)

1. KEY INFORMATION
Name of person dealing(Note 1) Trafalgar Asset Managers Limited
Company dealt in Gladstone PLC
Class of relevant security to which the dealings being Ordinary Shares
disclosed relate(Note 2)
Date of dealing 23 March 2010
2. INTERESTS, SHORT POSITIONS AND RIGHTS TO SUBSCRIBE

(a) Interests and short positions (following dealing) in the class of relevant security dealt in (Note 3)
Long Short
Number (%) Number (%)
(1) Relevant securities
(2) Derivatives (other than options) 1,450,122 3.0%
(3) Options and agreements to purchase/sell
Total 1,450,122 3.0%
(b) Interests and short positions in relevant securities of the company, other than the class dealt in (Note 3)
Class of relevant security: Long Short
Number (%) Number (%)
(1) Relevant securities (2) Derivatives (other than options) (3) Options and agreements to purchase/sell Total

(c) Rights to subscribe (Note 3)
Class of relevant security: Details
3. DEALINGS (Note 4)

(a) Purchases and sales
Purchase/sale Number of securities Price per unit(Note 5)
(b) Derivatives transactions (other than options)
Product Long/short(Note 6) Number of securities(Note 7) Price per unit(Note 5)
name,e.g. CFD
CFD Long 100,000 0.335 GBP/Unit
(c) Options transactions in respect of existing securities

(i) Writing, selling, purchasing or varying
Product Writing, selling, Number of securities Exercise Type, e.g. American, Expiry
Option
name,e.g. call purchasing, varying to which the option price European etc. date
moneypaid/received
option etc. relates(Note 7)
per unit(Note 5)

(ii) Exercising
Product name, e.g. call option Number of securities Exercise price per unit(Note 5)
(d) Other dealings (including new securities) (Note 4)
Nature of transaction(Note 8) Details Price per unit (if applicable)()(Note 5)
4. OTHER INFORMATION

Agreements, arrangements or understandings relating to options or derivatives
Full details of any agreement, arrangement or understanding between the person
disclosing and any other person relating to the voting rights of any relevant
securities under any option referred to on this form or relating to the voting rights
or future acquisition or disposal of any relevant securities to which any
derivative referred to on this form is referenced. If none, this should be stated.
Is a Supplemental Form 8 attached? (Note 9) NO
Date of disclosure 24 March 2010
Contact name S.J. Maidens
Telephone number 0207 534 6004
If a connected EFM, name of offeree/offeror with which connected N/A
If a connected EFM, state nature of connection(Note 10) N/A
Notes


The Notes on Form 8.3 can be viewed on the Takeover Panel's website at www.thetakeoverpanel.org.uk

More
Wed 15:08
Trafalgar Asset - Rule 8.3 - Gladstone PLC
BZN
FORM 8.3

DEALINGS BY PERSONS WITH INTERESTS IN SECURITIES REPRESENTING 1% OR MORE

(Rule 8.3 of the Takeover Code)

1. KEY INFORMATION
Name of person dealing(Note 1) Trafalgar Asset Managers Limited
Company dealt in Gladstone PLC
Class of relevant security to which the dealings being Ordinary Shares
disclosed relate(Note 2)
Date of dealing 18 March 2010
2. INTERESTS, SHORT POSITIONS AND RIGHTS TO SUBSCRIBE

(a) Interests and short positions (following dealing) in the class of relevant security dealt in (Note 3)
Long Short
Number (%) Number (%)
(1) Relevant securities
(2) Derivatives (other than options) 1,350,122 2.79%
(3) Options and agreements to purchase/sell
Total 1,350,122 2.79%
(b) Interests and short positions in relevant securities of the company, other than the class dealt in (Note 3)
Class of relevant security: Long Short
Number (%) Number (%)
(1) Relevant securities (2) Derivatives (other than options) (3) Options and agreements to purchase/sell Total

(c) Rights to subscribe (Note 3)
Class of relevant security: Details
3. DEALINGS (Note 4)

(a) Purchases and sales
Purchase/sale Number of securities Price per unit(Note 5)
(b) Derivatives transactions (other than options)
Product Long/short(Note 6) Number of securities(Note 7) Price per unit(Note 5)
name,e.g. CFD
CFD Long 100,000 0.34 GBP/Unit
(c) Options transactions in respect of existing securities

(i) Writing, selling, purchasing or varying
Product Writing, selling, Number of securities Exercise Type, e.g. American, Expiry
Option
name,e.g. call purchasing, varying to which the option price European etc. date
moneypaid/received
option etc. relates(Note 7)
per unit(Note 5)

(ii) Exercising
Product name, e.g. call option Number of securities Exercise price per unit(Note 5)
(d) Other dealings (including new securities) (Note 4)
Nature of transaction(Note 8) Details Price per unit (if applicable)()(Note 5)
4. OTHER INFORMATION

Agreements, arrangements or understandings relating to options or derivatives
Full details of any agreement, arrangement or understanding between the person
disclosing and any other person relating to the voting rights of any relevant
securities under any option referred to on this form or relating to the voting rights
or future acquisition or disposal of any relevant securities to which any
derivative referred to on this form is referenced. If none, this should be stated.
Is a Supplemental Form 8 attached? (Note 9) NO
Date of disclosure 24 March 2010
Contact name S.J. Maidens
Telephone number 0207 534 6004
If a connected EFM, name of offeree/offeror with which connected N/A
If a connected EFM, state nature of connection(Note 10) N/A
Notes


The Notes on Form 8.3 can be viewed on the Takeover Panel's website at www.thetakeoverpanel.org.uk

[nevar] 25/3/2010 10:54

So

Is the assumption by the market that Constallation taking control a good thing?

i.e. Buy at 34p and watch the share price go up as they take over and get rid of the said problem, then cash in.

Had Constellation been at 35p then I think we would all be on holiday .. have they been miserly again by just a few pence?

[moorsie2] 24/3/2010 16:21

meant to type 24 hours!

[grahamburn] 24/3/2010 15:59

Moorsie2. Don't know where you get the "next 4 hours" from as there is a couple of days leeway usually.

However, you are correct that Constellation will not state - indeed are not allowed to - the level of acceptances between the start of the offer period and the final date for acceptance. It is also, unlikely, that Martin would have been obliged to instigate an RNS solely as a result of signing the Constellation acceptance form.

All-in-all, the holding has probably gone elsewhere. So an R NS should come out in the next couple of days, unless the holding was split between different new holders.

[moorsie2] 24/3/2010 15:41

Grahamburn is correct

If it went to Constellation then we would not even have been notified I guess.

However if we do not get an RNS within the next 4 hours from the acquirer then it does look like it was Constellation.

Oh the intrigue

[bobthetrader] 24/3/2010 15:37

You are probably correct graham but I'm not sure exactly how the process works, having never been involved with this before. We also do not know the price he sold at.

[grahamburn] 24/3/2010 15:24

Bob. Doubt Martin sold direct to Constellation. The offer period is in process and he would have simply completed the acceptance procedure. Constellation are definitely not allowed to pay more than offer price in the market and don't think they are allowed to purchase in side deals once the offer is in process.

[strollingmolby] 24/3/2010 15:05

Rather optimistic! Gladstone are scheduled to present at the Growth Company Investor show on 9 June.

[bobthetrader] 24/3/2010 14:35

If his shares were sold to Active Network, should we not be told very soon?

I make his holding to be in the region of 5%.

If they have been sold to anyone other than Constellation we are ok!, but if not we could be very close to a victory for the Canadian company.

[grahamburn] 24/3/2010 14:14

Apologies, isi. Missed the question mark!

[isis] 24/3/2010 14:13

Trade Date Time Price Volume Type Consid.
24/03/2010 13:10:29 33.10 3,848 O 1,273.69
23/03/2010 16:07:22 33.50 100,000 O 33,500.00
23/03/2010 14:46:40 33.10 3,835 O 1,269.38
23/03/2010 13:45:00 33.10 6,000 O 1,986.00
23/03/2010 11:14:47 33.10 8,000 O 2,648.00

[isis] 24/3/2010 14:11

That's why I put a ? mark.

Don't know.

[grahamburn] 24/3/2010 14:07

How do you know it's Ace Network who acquired them? No evidence one way or the other from the recent announcement.

[isis] 24/3/2010 13:58

Looks like Derek Martin has sold to Ace Network?

Gladstone PLC
Holding(s) in Company
RNS Number : 1125J
Gladstone PLC
24 March 2010




24 March 2010

Gladstone plc

("Gladstone" or the "Company")

Holdings in Company

The Company was notified on 18 March 2010 that Mr. Derick Martin disposed of 2,588,208 Ordinary Shares of 1p each in the Company. As a result of this disposal Mr. Martin no longer has a holding in the Company.

- Ends -

For further information:
Gladstone plc

Dr. Said Ziai, Chairman and Chief Executive
Tel: [phone]
Nicholas Montgomery, Head of Group Finance
www.gladstoneplc.com

Nominated Adviser to Gladstone:

Grant Thornton Corporate Finance

Gerry Beaney
Tel: [phone]


Financial Advisers:

Deloitte Corporate Finance

Jonathan Hinton / Léonie Grimes
Tel: [phone]

[clocktower] 24/3/2010 10:52

How much does every penny add to Said`s option value?

[isis] 23/3/2010 17:07

The market still thinks another deal is on - well someone is buying them.

I can only imagine very small holders accepting the offer to save on dealing costs, I think they need another 10% because of the Director options so not quite as simple for Constellation as it looks.

[mikey34] 23/3/2010 16:59

Bob the Trader,

Don't even think about accepting at this stage IMO.

[moorsie2] 23/3/2010 10:52

Said has to come up with something very soon or else holders will be resigned to accepting 33p. But I do agree with DD that we should not make it easy for Constellation therefore do not accept their offer this time around.

[isis] 23/3/2010 10:41

Still buying:-

Trade Date Time Price Volume Type Consid.
23/03/2010 10:18:18 33.10 1,000 O 331.00
23/03/2010 10:03:48 34.75 7,000 O 2,432.50
22/03/2010 15:54:45 33.52 40,000 O 13,408.00
22/03/2010 13:39:34 33.52 6,722 O 2,253.21
22/03/2010 12:28:53 33.52 1,000 O 335.20

[davidosh] 22/3/2010 23:38

It is not in shareholders interests to accept any offer just yet so certainly do not accept by the first deadline. It will still be there after that date and may be increased if there is a competing bid.

[bobthetrader] 22/3/2010 20:28

isis...

Thanks!

If Constellation do extend the offer let's hope Active Network make a decision soon after. Even if Active pull-out I would rather know sooner than later as this has dragged on long enough.

Gladstone has probably been in talks with potential bidders since about Oct/09, that's approaching half a year. Let's not forget all the time and effort spent at the end of 2008 defending off Constellation.

I was hoping an offer would come this week!

[isis] 22/3/2010 18:57

Bob - if they get over or below they will extend the offer anyway. I think they can do this 2 or 3 times.
Over 50% gives them control of the Board but they need 90% before it is compulsory.

I'm hoping we have news soon - well aren't we all!