Emblaze LD (DI) Share Discussion Threads

[landsker] 25/2/2014 11:36

waterloo, your right emblaze is not doing anything in the ukraine but emblaze is now just another of mr granovskys interests and he most definatley is very involved in the ukraine

[scallywag] 25/2/2014 11:30

waterloo01 >
earlier on in the thread you said: "On a separate note. Barclays have still not resolved the cash payments in the 75p saga. Really poor and does not reflect well on them. Shambles really and says something about the way they work their back office."
Can you please expand on this? I tendered all the shares held in my Barclays account at 75p. It now seems that 370 (out of a total of 3000) were sold at a notional price of 56.25p. I queried this with Barclays and the answer I received was that the 370 shares were actually sold at 75p, but that an Israeli tax of 25% was applied. They claim that they emailed clients advising them of the tax, and attaching some Israeli tax form which would be their equivalent of the US W8-BEN. However, I am 100% sure that I never received this email. I told them that in this situation they should have phoned their clients directly.
Incidentally, I am a holder from the dotcom days when the shares peaked at over £30 (although I actually bought them at around the current price.....)

[waterloo01] 25/2/2014 11:18

Landsker, with respect, what utter rubbish re Ukraine. The share price dropped before it all really kicked off and the company has, and is highly unlikely, to be doing any business there.

[landsker] 25/2/2014 11:04

i am sure in theory they would love to keep the share price down in the high 30's thus enabling them to buy up stock cheaply and increase their holding , however the amount of buying has been miniscule, mainly because not many people will sell at this level

if as you suggest it is the company that has guided the share price to these low levels on purpose as far as its logical there can only be one purpose for that, to make forced takeover of the company easier and cheaper, but then again you have people on here saying they cant do that for less than 75p now by law

nobody knows whats going on here, the reason for the huge drop in the share price in my view are two things, a perception by the market that they are about to spend the cash and trouble in the ukraine, this really is more of a ukraine company now even if technically its israeli

[checkers2] 25/2/2014 07:30

The team buying up the stock, are interested in keeping the share-price down, and get control of the cash on the b/s as cheaply as possible.

My point was that they are doing a good job, that is all. This may be irratating of course to us holders landsker :)

[colinhy] 24/2/2014 21:04

24 Feb 2014

Granovsky thinking about investing in one of the leading food companies in Israel, Willi-Food International, Ltd

[landsker] 24/2/2014 16:51

doing a good job at keeping the share price down ?????

WTF does that mean

[checkers2] 24/2/2014 14:33

Thanks Cjohn, thanks for this update.

So far then they are doing a good job at keeping the share price down, wouldn't you say ?

It is defintely not running ahead of itself and the recent tender offer of 5% was deliberate I think at keeping the price down, and managing the share price expectations.

Do you know if they have the same rules as London on concert parties in Israel?

[cjohn] 24/2/2014 12:16

BLZ are subject to Israeli Company Law. The threshold for a mandatory offer is 45%.

Again, no offer can be made at below a price previously offered. In BGI's case this is 75p.

[landsker] 24/2/2014 10:01

whats the offer going to be 40p ?

i would definately take 60p now, had enough

[gclark] 24/2/2014 09:41

So they now have 34.68% of the voting rights for Emblaze. That seems to be above the 30% threshold for making an offer for the whole company?
Seems like another matched trade of around 330,000 shares at 39.5p.

[cjohn] 21/2/2014 12:31

I think you are right Checkers 2.

The fact that call options have been extended at a price well north of the current share price by buyers much closer to the action than PIs should also be a clear indicator to all.

[gclark] 21/2/2014 12:17

probably a matched trade I think. The amount and the price indicate that to me. If it was either a buy of 1m or a sell of 1m then I think the share price would move.

[waterloo01] 21/2/2014 11:36

1m trade. Surely a buy?

[checkers2] 20/2/2014 20:03

Hi CJohn
" Any further offer for BLZ shares from the same party, by law, has to be at 75p or above."

This was a very reassuring post, in these unsettling times.

We are talking about Israeli company law right? I have also confirmed that they also need over 90% to do a compulsary purchase under Israeli company law.

[waterloo01] 20/2/2014 17:41

FWIW, I've had some communications with the company (Hagit has left) and they are significantly more open to communication than previously. They confirmed the cash is still in the bank as stated in the last published financial statement. They are actively looking at deals.

As to the fear of them taking the money and running (and I guess the main reason the share price is under 40p) it would make little or no sense for them to do this and today's RNS confirms this to me (if not others) as they keep on paying for shares at a premium.

On a separate note. Barclays have still not resolved the cash payments in the 75p saga. Really poor and does not reflect well on them. Shambles really and says something about the way they work their back office.

[gclark] 20/2/2014 14:44

how are Israel 18 and BGI connected? BGI now have 25%, and Israel 18 are taking up options of around 8% (a very rough calculation). So maybe combined would have over 30% and then would have to make a full offer if they are related parties, or whatever the term is? And it is the takeover rules rather than Stock Exchange rules that companies adhere to with regard to takeovers, from my understanding now. All in my complete bewilderment - AIMCB

[landsker] 20/2/2014 13:16

this is not a tech company anymore its just a pile of cash and the only way they can profit is to get the cash for less than they paid for it, which means screwing the small shareholders who hold the remaining shares, it would not surprise me in the least if we are forced into taking 40p or less

[moneyman18] 20/2/2014 12:25

Can they continue to pay off the large shareholders and offer us guys market price ?

[adg] 20/2/2014 11:58

I really dont have a clue what is going on tbh, all this is so way above my understanding that i am now totally out of my depth even trying to understand it all - what i fea (see coming)is an impending announcement stating that they have reached a certain % holding, are taking it private and any remaining shareholders get next to zilch...

anybody actually understand what can/can't be done as they build their stake?

[jozz] 20/2/2014 11:06

Colinhy

Including the additional sums :

As consideration for the extension of the period for exercise of the Fortissimo
Call Option, Israel 18 will pay, in addition to the above:

* a sum of US$ 250,000 together with payment in relation to each of the March
Instalment and the April Instalment; and

* a sum of US$ 700,000 upon the completion of the purchase by Israel 18 of
all of Fortissimo's holdings in the Company or by the 31st of December,
2014 - whichever is earlier (the "Completion").

They are paying $14,240,150 for 8,883,757 Shares

So more like £0.96 per share

Does this now set £0.96 as the minimum they could forcibly take us out at ?

I would take £0.96p

Jozz

[colinhy] 20/2/2014 09:48

Fortissimo selling for around £0.90/BLZ share




Pursuant to the Amendment Agreements,
Israel 18 expects to exercise the Fortissimo Call Option in accordance with the
following time-line and for the following prices:

* 3,342,233 shares of Emblaze for consideration of US$ 5,000,000, which
Israel 18 has already paid. In this regard it should be noted that the said
portion of shares have not yet been transferred to Israel 18 and they are
expected to be transferred to Israel 18's account within the next few days;

* 2,770,762 shares of Emblaze for consideration of US$ 4,145,075, which
Israel 18 expects to pay by 31 March, 2014 (the "March Instalment"); and

* 2,770,762 shares of Emblaze for consideration of US$ 4,145,075, which
Israel 18 expects to pay by 30 April, 2014 (the "April Instalment").

RNS

[landsker] 20/2/2014 00:21

try telling that to somebody who bought for the first time 3 weeks ago

[checkers2] 19/2/2014 18:45

Good to see you on this thread Richard. How are things? It has been while since we last spoke, and you still need to give me those free flight tickets you promised.

This investment may well fall into case (2) here, but nevertheless because of the sheer cheapness of the stock may turn out to be a good one, independant of market sentiment. If you can't live with the uncertainty it isn't for you maybe...

I for one think this has a good risk profile...ie the chances of making a profit are greater than that of loosing.