China Biodiesel Share Discussion Threads

[taurusthebear] 11/6/2010 10:48

Well, I think it should be possible to pick up the divi and then sell for 16.5p, if the tender offer goes ahead. But at the moment the MMs seem to be dealing by supply and demand, so may have to wait a while to exit with a large number of shares. :0)

[aim11] 11/6/2010 10:32

does any one else here own this one via s/bet?

[qipincha] 11/6/2010 10:30

so the share price plus the div, we should get around 16.75p/share on 14th July? or maybe more? as pound is weak

[qipincha] 11/6/2010 10:28

I think I will accept the offer, just confused about the date.
It's still my best investment so far
bought in between 3-5p last year

[tim00] 11/6/2010 10:10

I would recommend you accept the offer, unless you don't mind holding the shares for around 5 years with little possibility to sell the shares in the interim. You will however probably receive dividends in the interim. But there are other shares with at least as good prospects. If you hold shares via a broker etc just follow their corporate actions.

[qipincha] 11/6/2010 10:04

i am confused about the date in the RNS

Tender Offer commences
11 June 2010

Tender Offer Record Date and record date for the final dividend for the year ended 31 December 2009
close of business on 23 June 2010

Transfer to escrow account of tendered Depositary Interests settled by
1.00 p.m. on 23 June 2010

Latest time and date for receipt of Tender Forms from Certificated Holders
1.00 p.m. on 25 June 2010

Announcement of take-up level under the Tender Offer
28 June 2010

Latest time and date for receipt of Forms of Instruction for the Extraordinary General Meeting
9.00 a.m. on 1 July 2010

Latest time and date for receipt of Forms of Proxy for the Extraordinary General Meeting
9.00 a.m. on 4 July 2010

Extraordinary General Meeting
9.00 a.m. on 6 July 2010



Purchase of Tender Offer Shares under the Tender Offer and completion of the Repurchase from Evolution
14 July 2010

CREST accounts credited with, and despatch of cheques for, Tender Offer proceeds and the final dividend for the year ended 31 December 2009
14 July 2010

Cancellation of admission of Ordinary Shares to trading on AIM
7.00 a.m. on 15 July 2010

Cancellation of Depositary Interest facility and Despatch of share certificates to those holders of Depositary Interests on the date of the cancellation of the Depositary Interest facility
23 July 2010

------------------------------
Does that mean that we should accept/reject offer between 23-25 June?
and we should be able to receive money on 14th July?(both share price and div)

[tim00] 11/6/2010 09:49

Yes, they've had a storming H1 but don't now have to publish the results! Still, I'm not that unhappy as I need funds to invest in other stocks.

[qipincha] 11/6/2010 09:39

As set out in the preliminary results of the Company for the year ended 31 December 2009 published on 19 April 2010, the Company experienced a strong recovery in trading during the second half of 2009. This recovery has continued into 2010 with increased sales volumes and higher year on year margin performance.

[qipincha] 11/6/2010 09:38

For simplicity, the Company has determined to align the record and payment dates for both the Tender Offer and the final dividend for the year ended 31 December 2009. Accordingly, the record date and payment date for the dividend for the year ended 31 December 2009 have been changed from 18 June 2010 and 5 July 2010 to 23 June 2010 and 14 July 2010, respectively, to align them with those of the Tender Offer. Whether or not Shareholders tender their Ordinary Shares under the Tender Offer, they will still be eligible for the dividend.

[qipincha] 11/6/2010 09:35

the company should trade on Chinese stock market, will be more successful

[qipincha] 11/6/2010 09:32

so we are not going to have any dividend?

[zangdook] 11/6/2010 09:31

? 100%, surely.

[qipincha] 11/6/2010 09:30

16.25, far from my target
:(

[woracle] 11/6/2010 09:28

LOL qipincha, just wait and accept the offer. Its as good as ure gonna get ;) 99% chance it will go through.

[qipincha] 11/6/2010 09:26

so what shall we do then?

[tim00] 11/6/2010 09:00

There's an arbitrage opportunity for MMs or hedge funds even; as you say as delisting approaches the bid price should rise to about 16p. We saw that with Rift Oil when a takeover was announced, suddenly all kinds of investment funds started buying in bulk for a halfpenny gain!

[taurusthebear] 11/6/2010 08:56

Cannot seem to sell any shares online, even at 14p. I assume that will become easier as the delisting is approved and approaches, as they should be picked up as part of the tender, at cheaper than the offer price. :0)

[robandkerry] 11/6/2010 08:52

Yes Mr Ye is sitting pretty.

[tim00] 11/6/2010 08:47

Mr Ye gets a good deal. He can buy back all the shares for less than the cash currently held by the company. No need even to borrow. Shares were initially sold for 85p on AIM at IPO 4 years ago, but none of the original institutional shareholders remain now.

[tim00] 11/6/2010 08:41

LOL! I could only get 10k at 12.

[robandkerry] 11/6/2010 08:34

Just put an order in for 50k but i doubt it will get filled.

[tim00] 11/6/2010 08:23

TTB, the divi is worth 0.25p per share, so the offer is effectively 16.75p. I managed to pick up some more at 12p before anyone noticed.

[zangdook] 11/6/2010 08:22

You can buy at 14, if you want a quickish 15%. I would but I'm skint.

[taurusthebear] 11/6/2010 08:18

Another Chinese company gives up on xenophobic AIM. Hopefully should get 16p for our shares, at least! :0)

[jailbird] 11/6/2010 08:12

yep that is the positive unlike what happened with INVOCAS