Brown (n) Share Discussion Threads

[red ninja] 10/2/2023 17:37

Oh Jackson83 go back to your nursery school class before they miss you and get you to wear the dunces cap again.

[red ninja] 09/2/2023 14:52

Maybe, no recent sign of Frazers buying and no rush for the Alliance family then.

I also note yesterdays RNS for Monecor (London) Ltd Trading as ETX Capital, saw a very small decline in their holding when direct + indirect holdings considered.

Still maybe the partly will resume shortly...

[ianb5004] 09/2/2023 14:31

Is the fun over. Volumes fell off a cliff the last two days. Buyers dried up completely so far today. Maybe if it drifts down a little they will be back? Must have been very over bought?

[no dice] 07/2/2023 17:46

Yes, only if you have bought >10% in the last 12 months.

[smithie6] 07/2/2023 16:36

does it only apply if buy >10% in the last 12 months or all the time, to any party that makes an offer for a company ??

[ianb5004] 07/2/2023 16:11

Smitie6 - i have sort advise on takeover rules and you post is spot on. The highest price paid for shares in previous 12 months sets the minimum that must be offered to shareholders for the remaining shares. In this case (so far) that price is 41.75p.

Im not convinced thats the reason for the recent buying though.

[eeza] 07/2/2023 15:27

smithie - it's the %age bought in the 'last 12 months' that's relevant.

[smithie6] 07/2/2023 15:13

"no dice" wrote

"but not Alliance & Co. (<4% in last 12 months)."

hxxps://www.nbrown.co.uk/investors/aim-rule-26

states that the Alliances listed own 56%, at the date of that info

so, your text saying '<4% held by Alliance & co.'

is perhaps wrong....except if you are talking about the % of the co. bt within the last 12 months.

-----

while I would agree that the text of the rule is not 100% clear perhaps.

I had thought that any buying of shares by a holder of >10% in a 12 month period would set the minimum price they had to pay if they submitted a takeover offer
but phps the rule only applies if they buy >10.00% during a 12 month period

hmmm

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I'm not an expert on takeover rules.

[no dice] 07/2/2023 13:55

Re. Offer price: "...if an interest
carrying 10 per cent or more of the voting rights in target shares
is acquired for cash during, and in the 12 months before, the
offer period, all shareholders must be offered cash at the highest
price paid during that period (Rule 11.1(a))."

As of today this will apply to FG (>10% in last 12 months) but not Alliance & Co. (<4% in last 12 months).

[smithie6] 07/2/2023 13:47

"Two NEDs now stepping down at AGM in July"

phps to avoid the headaches, responsabilities & work of being a NED (phps without any extra pay) during a takeover process ??

[ianb5004] 07/2/2023 13:45

Thanks for imput. Very useful.

Frasers own 17% not 10% HL also own 3.4%

[smithie6] 07/2/2023 13:41

I don't claim to be an expert on takeover offers but here are my opinions on some of the rules.

-----
Any offer must at least equal the highest price they have paid in the prior 12 months (as someone else also recently posted).

which I think is 41.75p, "so far"...it has risen a lot...& looks set to keep going imo...

They have "no" obligation to offer a higher price.

Whether other shareholders accept/reject any offer, for the shares they own, is up to them.

If the Alliance concert party were to own >= 90% of the votes then they can do a compulsory purchase of any shares they don't own. Since Ashley owns >10% then the Alliance concert party can not possibly own >90%, unless Ashley sold to the concert party.

[smithie6] 07/2/2023 13:34

Ianb5004

"My understanding is if The Alliance family wish to take BWNG private then they have to buy out shareholders at a premium to the current share price"

You plug your understanding out of thin air ?

You used your left arm or your right ?!

[no dice] 07/2/2023 13:30

Two NEDs now stepping down at AGM in July.

[no dice] 07/2/2023 13:26

Just over .

[ianb5004] 07/2/2023 13:23

My understanding is if The Alliance family wish to take BWNG private then they have to buy out shareholders at a premium to the current share price.
This is from basic research on the internet.
Its nothing something thats happened to any stocks ive owned in 30 years.
Any experts in this procedure?

Of course there is nothing to suggest at this stage that is the case. It may well have more to do with block Fraser group from loading up at ridiculously low prices.

Bwng group still trading at a discount of 35% to its NAV.

[smithie6] 07/2/2023 13:21

anyone know what % of the co. the Alliance concert party now own ?

[creditcrunchies] 07/2/2023 12:49

The Alliance's have enough to block Ashley completely he'd have to go in for a high bid. They always buy on the cheap so can't see it personally

[outsizeclothes.com] 07/2/2023 12:13

A new Alliance 'floor' has been set, for 12 months at least, at the 41.75p Joshua bought at for any potential bid, as they can't bid to take it private under that price now.
To me though, it looks like taking the Company private was their intention all along, only the Mashley has spoiled things for a very low bid.

[ivancampo] 07/2/2023 11:53

More stock for the lady and Joshua getting in on the act as well.

[dicktrade] 07/2/2023 11:53

Another two RNSs showing the Alliances buying another 1,000,000 shares in the 40s