Centrom Share Discussion Threads

[storming norm] 21/5/2009 23:17

2magpies - did not realise that - does that mean that by accepting the 75% Maymask have avoided the prospect of liquidation?

[2magpies] 21/5/2009 22:50

storming norm

they are NOT 'going into liquidation'

They will continue to trade (remember they said they would be moving offices?)

Also, most of the staff (if not all) are being kept on -- I believe.

Why would they do that?

Got the co on the cheap @ £50k?

I should say so.

Minority shareholders will still be due dividends etc,

strictly imo

[storming norm] 21/5/2009 22:37

The RMS states:

"When cancellation occurs it will significantly reduce the liquidity and marketability of any Centrom Shares in respect of which the Offer has not been accepted and the value of any such Centrom Shares may be adversely affected as a consequence."

The reduction in "liquidity and marketability" means you will not be able to trade the shares. At the current value - so what.

The consequences of not accepting the offer are, in my opinion, as follows:

1. As a private company they will not own it all - it will be a thorn in their side, and if they re-enlist the value of shares would be enhanced.

2. They would go into liquidation - in which case their actions would be investigated.

3. They offer a significantly enhanced payment to aquire the remaining shares.

4. They find another way to try and screw us.

The main thing is to hold onto your shares.

[2magpies] 21/5/2009 21:12

How bloomin' amazing!

They have to get another 21million(odd) shares to get to the 90%

I can't see that happening. They're getting desperate.

In approximately 1 month they have received just 5% more acceptances (probably hapless nominee holders closed out by 'default').

Get another 10% in the next 14 days?

They say that delisting will affect the value of shares: I would laugh if that wasn't so stupid. The bid was at a 90% (yes 90%) discount to the then prevailing share price

purrleeze

[englishbeakfast] 21/5/2009 20:39

ooops ! that is what happens when you get impatient with BT Broadband !

[englishbeakfast] 21/5/2009 20:38

IF YOU ARE WITH SELFTRADE YOU WILL HAVE TO NOTIFY THEM THAT YOU DO NOT WANT TO ACCEPT THE OFFER - OTHERWISE THEY WILL ACCEPT BECAUSE CENTROM RECOMMEND IT !

thought it was worth putting in capitals

[englishbeakfast] 21/5/2009 20:38

IF YOU ARE WITH SELFTRADE YOU WILL HAVE TO NOTIFY THEM THAT YOU DO NOT WANT TO ACCEPT THE OFFER - OTHERWISE THEY WILL ACCEPT BECAUSE CENTROM RECOMMEND IT !

thought it was worth putting in capitals

[englishbeakfast] 21/5/2009 20:38

IF YOU ARE WITH SELFTRADE YOU WILL HAVE TO NOTIFY THEM THAT YOU DO NOT WANT TO ACCEPT THE OFFER - OTHERWISE THEY WILL ACCEPT BECAUSE CENTROM RECOMMEND IT !

thought it was worth putting in capitals

[englishbeakfast] 21/5/2009 20:38

IF YOU ARE WITH SELFTRADE YOU WILL HAVE TO NOTIFY THEM THAT YOU DO NOT WANT TO ACCEPT THE OFFER - OTHERWISE THEY WILL ACCEPT BECAUSE CENTROM RECOMMEND IT !

thought it was worth putting in capitals

[storming norm] 21/5/2009 18:54

Yes - Hang on it there - we'll make them accountable yet.
Remember if you are with Selftrade you will have to notify them that you do not want to accept the offer - otherwise they will accept because Centrom recommend it.

[29palms] 21/5/2009 18:36

LOL!!!
They have only managed to get to 80.61% acceptances for the offer as at 19 May
There is still 42 million shares out there with SI's

I'm one of the holdouts and as long as they cannot compulsory purchase the remaining shares will continue to be!!!

[deka1] 20/5/2009 09:04

well done guys , dont make it easy for them, mine are in

[andrbea] 20/5/2009 08:43

I've emailed too, to defy the Management.

[englishbeakfast] 20/5/2009 08:39

I've just e-mailed confirming my 478,937 shares.

[induna123] 19/5/2009 09:52

Thanks mate. I've added mine. Surely with the share price going up this must be a good sign.

[storming norm] 18/5/2009 20:19

To anyone interested a group of shareholders who collectively hold more than 10% of CET have banded together on the Interactive Investor website to ensure that the board do not get the 90% they require.
If you wish to add your shareholding to their list they can be contacted at [e-mail]

[jumpin] 18/5/2009 00:00

go to


for very small amount of money.. 50p or a £1 a document you can get access to lots of documents the company has presented

[2magpies] 14/5/2009 21:05

If CET have acceptances for 75%, they need another 30million-odd shares to get to 90%

That's an awful lot of shares yet to be sold, and a tall order, imo, given the very short time left.

And it's anybody's guess what will happen.

[induna123] 12/5/2009 19:38

Do you know if anyone has written to the takeover board? I think CET should have been under obligation to comment on the share price raising so high as 'the doctor' says, I believe it peaked at about 0.8p after the offer which is about 35 times the offer from Maymask. I would be very unhappy if I have bought in after the anouncement.

[tomboyb] 10/5/2009 12:17

did someone mention that if the company went into administration that there would normally be an investigation? if so would that explain such a derisory offer for current shareholders?

[2magpies] 10/5/2009 11:31

the_doctor

you may have hit upon something there.

At the time that the company's share price was trading at 0.23 (ish) the Board knew that discussion about the takeover were taking place which would result in a much, much lower bid -- it was eventually made at a tenth, yes a TENTH, of the prevailing price.

The Board should have issued an RNS to the effect that the share price level was not justified (or knew of no reason why it was at that level).

Something else to say to the Takeover Panel:




Also alert AIM Regulation:

[the_doctor] 09/5/2009 16:06

It wouldnt surprise me if folk in the know first pushed up the price as soon as the bid was announced, to allow them to offload. The initial high price would give folk the impression that this was around the bid price.

The company barely gave any indication of how severe its problems were in the run up. ie. indications that any bid price would be so low.

I feel sorry for holders here, but especially any that bought high up after the bid was announced

[the_doctor] 09/5/2009 16:03

Call Maymask
Call the house brokers
Call Malone

At least hear any reasons they might have first