Eurasian Share Discussion Threads

[nolens volens] 21/4/2013 23:27

cfb2

Enrc are advising shareholders to do nothing. And as another poster pointed out earlier JN Financial trader, Rick Jones, says that investors should hold onto ENRC and only think of selling out for a profit if it goes up to the 350-400 pence level.

Everybody of course has to make up their own mind.

[nolens volens] 21/4/2013 22:29

Careful

As I said over on kaz bb , I actually do find it tedious reading details of folks trades on these bbs. However, you were the one who chose to give us all chapter and verse on your buys but no detail about your sells.

[cfb2] 21/4/2013 20:50

Here is the

The media are spouting more rubbish on ENRC than the BBs.

It was trading at 1,000 pence only about a year ago.

The price being over 1,000p a year ago is irrelevant. Ore prices made ENRC significant profit at that time.

The only bit in the Telegraph story I believe is that the offer is close to being funded. This would have be done quickly due to the FTSE 100 requirements for private shareholding being imminent.

I get the feeling that shareholders are being played so that this company can be taken private on the cheap. I just wonder what part the media are playing in this.

CFB

[nolens volens] 21/4/2013 20:10

careful would it be awfully nosey of me to ask what price you accepted for your Enrc shares as it will be an open book as to what price anybody gets who hangs around till the end if an offer does come in.

[nolens volens] 21/4/2013 19:38

Careful - Aye but you said on the kaz bb after you had sold that you would miss the thread and all you have done is post on it ever since and you are watching this like a hawk even on a Sunday night which is odd if you have no interest here. Relax and play more golf.

[careful] 21/4/2013 19:34

if you believe in ramping/deramping motives there is every reason for me to de- ramp.
i could buy back at a lower price if i believed that it worked.
That is not the case, but i make a simple point.

[nolens volens] 21/4/2013 19:26

Okay folks for those of you who don't read the kaz thread. Careful declared his sales of kaz and enrc on the kaz bb on Friday afternoon. Whether he sold them in the morning before heading to his golf is anybody's guess.

He has now said this evening on the kaz thread that he "acted on impulse" when he sold all his holdings in kaz and enrc on Friday afternoon but might rejoin the fray so we are getting nearer the truth. He can't seem to make up his mind whether enrc was £2.20 or £2.30 a share at the time of Friday's announcement.

DYOR but because somebody sold their shares here on Friday on impulse is no excuse for them to start deramping the shares. Good Luck All

[nolens volens] 21/4/2013 18:29

Careful

Just copied and pasted from my post on the kaz bb line 2 should read a guy who wanted to be out of these and kaz over the weekend. Enjoy the remainder of your weekend.

[nolens volens] 21/4/2013 18:26

Careful,

Now if I was of a suspicious nature, I would be thinking that here's a guy who wanted to be out of these and enrc over the weekend and who expected the usual Friday afternoon sell off and didn't come back after his liquid lunch as nothing much happens on a Friday aft.

Dangerous mistake to make. I was out for lunch this Friday myself but I keep an eye on thigs these days after I returned home on Friday 22nd March, 2013 to find my Cup shares had been decimated in the space of a few hours though they made up some of the lost ground on the Monday and lol on Friday 20th January 2012 I returned home to find my hmv shares up over 200% in about two hours between 1.00pm and 3.15pm ish.

I might think differently of you if you had declared your sells here and at enrc on Friday promptly but you didn't.

[nolens volens] 21/4/2013 17:44

"Glencore International Plc has expressed interest in ENRC assets in the past, said Jeff Largey, an analyst at Macquarie Group Ltd. in London, and "there are certain components of it they would find very attractive," especially in Kazakhstan, he said. The commodities trader and mining company might also be interested in ENRC's operations in the Democratic Republic of Congo, Largey said. Glencore's Chief Executive Officer Ivan Glasenberg commented on the decline in ENRC's stock at a Moscow conference yesterday. i.e Thursday "Its share price has fallen considerably on the back of commodity prices," Glasenberg said. "Will there be some form of consolidation in Kazakhstan with Kazakhmys with the copper, with ENRC with their assets? I don't know, but people will be looking at them."

[nolens volens] 21/4/2013 17:26

My first post on this thread though I have been reading it for a while. I am not sure why you are more active than ever Careful on this thread and the kaz thread after selling your shares in both companies on Friday. I spotted a lot of gaps in your knowledge when you were holding these shares but now you appear to know it all lol including the "fact" that there will be no rival bids when there has been serious interest in this company before from Glencore and their CEO was publicly commenting on the mining situation in Kazakhstan on Thursday in Moscow. So the oligarchs would not want to accept an offer they couldn't refuse lol.

I don't suppose you are thinking of trying to buy back in tomorrow? Would it be a little naughty of me to suggest that the Telegraph writer's friends and family might be looking to buy in here tomorrow. No nice holidays or anything planned with your "healthy profits" from Friday or any other shares on your shopping list with the sale proceeds.

[careful] 21/4/2013 12:30

jones has probably gone long.
it would be a huge premium of 75% over the market price at the time of the announcement.(about 220p)

[dmore2] 21/4/2013 12:12

telegraph is talking rubbish

"I certainly wouldn't be shorting it here," says JN Financial trader Rick Jones. "Because of how cheap they are, it is more than likely that there will be a takeover. It was trading at 1,000 pence only about a year ago."

Jones adds that investors should hold onto ENRC and only think of selling out for a profit if it goes up to the 350-400 pence level.

[careful] 21/4/2013 10:41

sunday telegraph says offer is likely to be well below fridays closing price.

[p bear] 21/4/2013 06:44

How old is the above quoting copper at $8,437/t. Now less than $7,000/t!

[ch1ck] 20/4/2013 20:01

Big article in the FT the three of them own 44% may be more now if they have been buying on Thurs and Friday. Broker are touting 400p which is 140p below the 540p listing price to settle with Kaz.That seems fair with no other bidder at the moment.I'm holding even thought I bought at 219 and doubled up on previous buys and will look to sell at 400 if there is no other bidders.

[aleks_atanasov] 19/4/2013 16:16

if they make a hostile general offer 50% is enough ... however thats very unlikely.

If they make an offer via a scheme of arrangement 75% approval from 50% of the holders is needed. however in order to take full control they need 90%...

i agree with al101uk its fair to say minority holders wont get sqeezed a lot.

And ENRC must issue an RNS now... most likely after the close.

[al101uk] 19/4/2013 16:02

55% is not enough...

Are there any key proportions of shares that affect my rights?

Broadly speaking, the key percentages are as follows. (The detailed position is slightly more complicated if not all classes of share carry the same voting rights.)

75% – you can force through any resolution at a general meeting of the shareholders, including a special resolution. Changes requiring a special resolution include altering the company's articles – the main constitutional document setting out how the company is to be run.
Over 50% – you can force through an ordinary resolution at a general meeting of the shareholders. One crucial power that this gives you is the power to force through an ordinary resolution to appoint or, importantly, dismiss directors (see 8). You therefore have effective control of the management of the company.
Over 25% – you can block any special resolution.
5% – you can require the company to call a general meeting. You can prevent the compulsory purchase of your shareholding following a takeover of the company. You can apply to the Department for Business, Innovation and Skills for the appointment of an inspector to investigate the company.

[ch1ck] 19/4/2013 15:55

The consortium owns 55% I thought

[al101uk] 19/4/2013 15:38

aleks,

I made the same mistake to be honest, thought they owned far more than they actually do and would be able to force through a deal that wasn't the best for the minority holders.

[al101uk] 19/4/2013 15:36

I'm guessing if the other four are in the consortium Kazakhmys will have a lot to say about the price that is paid.

Kazakhmys Plc - 334,824,860 - 26.00%
Mr Alexander Machkevitch - 187,836,250 - 14.59%
Mr Alijan Ibragimov - 187,836,250 - 14.59%
Mr Patokh Chodiev - 187,836,250 - 14.59%
Ministry of Finance of Kazakhstan - 150,047,116 - 11.65%

[aleks_atanasov] 19/4/2013 15:31

al101uk - if its via scheme of arrangement a 75% approval is needed. 90% if they want full control.

if its via general cash offer... only 50% is enough.... and guess what they already have it.... however i back off from my no 30% premium theiry because this is not what i first thought and now i am not sure.

[rees4] 19/4/2013 15:31

i should think the minority holders will be paid net asset value.

[just_a_beginner] 19/4/2013 15:26

well bought a little early at 268 on the 27/3 and possibly sold a little early at 291 but am happy to take the profit. Good luck to everyone, will be interesting to see where this leads...