Dee Valley Grp Share Discussion Threads

[topvest] 28/1/2017 07:51

Well its all got rather bogged-down. Who is paying?

[redgog] 27/1/2017 23:51

Wont unduly hurt you to wait a few more days for your money, the date of the hearing was set for this Wednesday anyway.

If the so called protesters lose, a good percentage of the workforce lose their jobs. A bigger loss for them I would say.

[exbroker] 26/1/2017 20:57

Praipus No shares traded at those levels so the buyers could still be about. I don’t expect them to do anything unless the price drops or we get the result from the court. I hope the protesters are paying their own bills!!

[topvest] 26/1/2017 18:41

Well what a saga this bid is. Looks like the Court decision is getting bogged-down. Wonder who is paying for all of this?

[praipus] 26/1/2017 13:36

Did they get filled at those prices?

[exbroker] 26/1/2017 13:00

Hi Praipus
DVW trades on a part of the system for very illiquid stocks (sorry about the pun!)
4 times a day there is an auction when brokers can submit firm bids or offers to the market, it will, if they match up then trade them just as any of the other stocks trade. Last night there was a buyers of 10000 at 1706, 5000 at 1720, and 10000 at 1723.The market for choice yesterday seemed to be happier to buy them, given the large spread and price so would I!

[praipus] 25/1/2017 21:30

Pardon my ignorance what does "Well bid in the auction" mean? Something to do with Market Makers balancing their books?

MM's sell at bid price so does "well bid" mean lots of sellers?

[exbroker] 25/1/2017 21:10

I expect the answer after lunch on Friday. Well bid in the auction the PM

[hindsight_speculator] 25/1/2017 20:09

Court case concerning the Scheme has been adjourned until tomorrow.

[exbroker] 17/1/2017 14:58

Market not keen on buying any! I expect the price to drift up to the court case.

[topvest] 15/1/2017 19:15

Well could be like Journey plc then - can't see that the Court will allow this through given that Severn Trent have lost the vote. They will have to offer a cash bid instead, but will probably have to pay a little more, unlike the Journey plc offer.

[redartbmud] 15/1/2017 13:30

Exbroker

Apologies, you are correct. I misread the blurb from Severn Trent. I thought that they had said that their bid was final but they were commenting on the Ancala bid, rather than their own.
So much paper has been issued that it is now hard to see the wood from the trees!

[exbroker] 15/1/2017 13:05

redartmud
Where did you see that the SVT bid is final??? It is increased but not final, it is the Ancala bid that is final.
If SVT increase the bid then they will go to an offer not a scheme, no need for the court case then.

[topvest] 14/1/2017 08:26

Oh well looks like there is a chance that employees may have won and independence reigns! I'm not too bothered either way really.

[redartbmud] 13/1/2017 22:03

Having declared that they would not increase their bid, Severn Trent are prohibited from increasing their bid for 6 months, unless another party makes a bid at a price in excess of that on the table.
Those are the rules.

[topvest] 13/1/2017 20:40

Lets hope that Severn Trent are forced to pay a bit more. Serves themselves right!

[redgog] 13/1/2017 15:45

Exbroker

How do they get the extra 100 + shareholder votes they will require, if they lose the court case?

[exbroker] 13/1/2017 13:53

SVT can still up the offer and spring the AXA stock, then its game over.

[redgog] 12/1/2017 23:22

Yes you are correct it was Wrexham and east Denb water, forgot the merger in 1997, memory fades

Thanks for the info regarding the articles, If this is the case ( and I don't have any reason to doubt you) it makes the court case even more dubious if these are standard.

[hindsight_speculator] 12/1/2017 23:00

Re 504 it's a Companies Act condition. S899 Companies Act 2006. DVW has a modern set of Articles and was never a statutory water company (that was Wrexham Water plc which was previously Wrexham & East Denbighshire Water Company).

[redartbmud] 12/1/2017 22:16

Having given the matter due consideration, I am of the opinion that the shares should be suspended from 8.00am tomorrow, until the legal position is clarified. There is a great potential for a disorderly market.

[topvest] 12/1/2017 21:12

Yes, very interesting. 245 individual holders with 1 share each overturn a near 90% vote for the scheme. This is going to take a while. Quite a landmark case. On the face of it, the scheme fails. No doubt Severn Trent will come back with a revised cash offer if it does fail. Really is a bit of a landmark fight this between the three players: Severn Trent, Ancala and the employees. Quite amusing really!

[topvest] 12/1/2017 21:10

Yes, very interesting. 245 shares individual holders with 1 share each overturn an 88% vote for the scheme. This is going to take a while. Quite a landmark case. On the face of it, the scheme fails.

[redartbmud] 12/1/2017 20:38

Best drop your shares at current levels then as they will drop to £17.06 if the SVT bid lapses.

[redgog] 12/1/2017 20:20

Not sure but this could be a hangover from when the firm was a statutory water company.

The voting structure would have been known by DVW before any of this started, and SVT must have been aware. If the 400 have obtained shares and registered their votes correctly, then on what basis could any court retrospectively change the company rules to disqualify them.

Ancala would also have a view of this as well?

More twists and turns possibly, if the 400 count how could SVT change/win the vote going forward. They are making heavy weather of this, Liv must be worried.