Honestly - is that the best name they could come up with:
Alakazam Holdings
No wonder it took them ages to get the money together. Whose the CEO - The Great Soprendo? |
IG charge £100 for AGM attendance. Voting available online and free.
Hargreaves AGM attendance is free, but now organised via a third party. That is very sketchy at best. I haven't been registered a few times although I have notification via an email. That gets me in.
I was able to attend one meeting 'as a guest' but unable to vote or participate in events because I wasn't properly registered,
red |
Hargreaves Lansdown are excellent. They give you the option to submit instructions to how you want to vote. which I duly did.
By the way, I have no affiliation with HL whatsoever but I highly recommend them to anyone looking for an execution only stockbroker. |
Mine are in a nominee with an execution only broker, I expect they don't want the work of handling voting by beneficial owners (probably make it chargeable, like going to AGMs and voting, I must check) |
All I got from AJB was a note saying no action required and no opportunity to vote. |
approved at meeting this afternoon |
no - docs were posted on 17 Dec. Court meeting is today. |
That's the 28 days from the announcement on 11th Dec 24 up and no documents issued , here we go again! |
Are we sure this is a done deal , share price is creeping up or is this because the time is passing and there is less time to wait for cash? |
Maybe they could get rid of the BoD especially IST |
Far more on the money, though, is James Thorne of Columbia Threadneedle, with almost 12 per cent. He called the offer “absolutely ridiculous”, saying Equals had built a “strategic asset” worth “twice the price”. He said that, due to Takeover Panel failures in allowing 13 months of PUSU extensions, Equals shares had been allowed to atrophy with scant analyst coverage and some investors selling to “merger arbs”.
The result? The board is “selling this business with no premium whatsoever. If this goes through, the private equity owners will make a fortune”, thanks to a “distortion in the value of Equals that is egregious”. He “intends to vote against” the deal. Other investors should follow his lead.
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I think there's a good chance this deal gets rejected. If James Thorne follows through that's 12% voting against off the bat. The no's only need another 13% of the shares outstanding to block the deal.
I wonder will the offer have to be bumped slightly? |
Not an AGM....It is a court meeting and general meeting scheduled for the 8th Jan
Court Meeting
2:00 p.m. on 8 January 2025
General Meeting
2:15 p.m. on 8 January 2025 (5) |
WNWD has had an offer, pretty much came out of the blue and the share price indicates it's a done deal.
That's how bids should work and not like the bunch of clowns involved here. |
BTW, the 140p/share Equals bid hasn't yet got over the finishing line - with the AGM vote planned for the 8th Jan. Interesting times me thinks - excerpt from tweet by Paul Hill on 24/12 |
Is there any way of finding out how many irrevocable acceptances have been declared in respect of the bid? Just trying to get a feel as to whether the bid is likely to succeed or fall in the event a couple of the institutions decline the bid. |
I have held these shares for around 3 years. Takeout price is disappointingly low. I will not sell and will vote against the takeover. |
The share register is not static. Any shares one individual sells could be bought by multiple new buyers, thus making the holder of the one retained share vote irrelevant. |
Is this an opportunity to realise further value when we think we have been sold at too low a value? "Yes."And if you don't believe me, check out I3E where a scheme of arrangement was used to complete a takeover this year. See October RNS for published results which refers to the requirements to pass the necessary threshold. |
You sell all your Equals shares now for circa 135p apart from 1 Equals share which you keep. You will have a vote on whether the transaction should be approved next year. You vote "no." If there are say 100 shareholders holding Equals shares and 51 shareholders with just 1 vote each, vote "no" the transaction will not go ahead. |
The transaction does not get approval under the scheme if 50%+ in number of the shareholders reject the transaction. For example, if there are 100 shareholders in total and 51 of the shareholders vote against. This gives an opportunity to realise value now and buy back in at a lower value, if the transaction fails. How? Read the next post. |
Wishful thinking that a counter offer would come in after all this time.
The issue of valuation. It looks to me like it is being sold cheap but there was a lot of discussion about how much profit was coming from interest on deposits. OK at the moment but not good if interest rates fall.
I thought the Belgium acquisition would be transformational but not much news on that front.
Hence I sold out. |
I sold out yesterday, the market price seemed generous given only an extra 5p on offer to wait till Q2; no hard dates in announcement either.There is speculation here that a counter offer will emerge as company is being sold cheaply but for me alternative bidders have had a long time to think about this and sat on their hands. If they do exist, don't see why they would act now. |
Some interesting RNS coming out that show decent purchases since the announcement. Are they just going to take the 5p difference (how long will they have to wait though ?), are they expecting a counter offer (who though ?) or something else ? |
Paul Scott, who was not a holder, thinks that there is a chance of shareholders rejecting the deal (with only 16% irrevocable at this stage) and therefore suggests holders sell now rather than chance the deal lapsing next year. |
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