European Nickel Share Discussion Threads

[puffintickler] 08/8/2012 18:33

The offer has been recommended by ENK, the "Independent Directors" who are recommending are, according to the announcement, Peter Rowe, Robert Gregory, Mark Hanlon, Paul Lush and Neil Herbert.

From the annual report

Mr Peter Rowe Chairman
Mr Robert Gregory Managing Director
Mr Mark Hanlon Finance Director
Mr Paul Lush Non Executive Director
Mr Neil Herbert Non Executive Director
Mr Guy Walker Non Executive Director

Only the NED Guy Walker is not on the list.

I guess they were all offered something nice to back such a lowball offer.

[eelanguilla] 08/8/2012 18:20

19 lol shouldnt that be 29 ......

[zangdook] 08/8/2012 17:57

deleted as irrelevant - info is further down the announcement.

[greenroom78] 08/8/2012 17:45

How likely is it that there would be a counter offer at this price?

With the cash on the books as well they are getting this at a major knock down price.

[zangdook] 08/8/2012 17:44

Nothing in the announcement about 'the board' recommend, only 'the independent directors'. Also no comment from ENK, only from the offeror.

[richscotsman] 08/8/2012 17:43

chaps - I hope you will be organised to make your vote count. This is embarrassing - I reccommended some friends buy into this for the long term value and this is the rubbish that the board come out with.

VOTE NO and let's try and get the board's feathers ruffled - might attend the AGM with my friends at this rate to ask some questions.

[giant steps] 08/8/2012 17:39

19p, what a disgrace

[zangdook] 08/8/2012 17:38

or the three year chart:

[richscotsman] 08/8/2012 17:34

I'm going home to kick the cat and then to make sure I have the necessary logins to hand for my trading accounts and Sipps to make sure I am ready to VOTE NO!

[zangdook] 08/8/2012 17:32

19p is not only a substantial discount to NAV, it's not even a respectable price if you look at the 2-year chart.

[richscotsman] 08/8/2012 17:30

Chip - please explain what you think about the directors of this company... I'll be telling the world why I am asking later.

[richscotsman] 08/8/2012 17:29

I think the Directors got offered a big fat pay rise/bonus from DCMI.

They are clearly taking the preverbial and it is fortunate for the geographic seperation just now because I feel like ripping their bloody heads off.

[zangdook] 08/8/2012 17:27

That's less than 5p in old money. They can't be serious. What happened to this:

With the closing mid-market share price on 26 July 2012 of 13.75 pence (A$0.207), and a net asset value of 28.0 pence per share (A$0.42), the company believes any offer would need to be at a significant premium in order to recognise the full value of the company's assets and significant technological expertise.

?

[richscotsman] 08/8/2012 17:25

NO NO NO and NO. I am raging.

[jezza123] 08/8/2012 17:00

agreed the BFS may well act as the spur for a predator to make their move, the question really is will it be delivered on time - clearly nothing will happen until after the agm given the directors will want to ratify their options first. Meaning I am surprised at the timing of their announcement of a potential takeover. In the meantime, I am more than certain that anyone who has put in a stop loss around the teens will get stopped out as the MM's will see their opportunity to add to their books (a classic tree shake)

[richscotsman] 08/8/2012 16:07

I don't give a monkey's what they call themselves... I am just counting down to the end of September for the BFS and hope the vultures do not descend before we get there....

The end of September is going to be great - building works complete at my house and the BFS will be out.... upgrade to a castle time???? (and then I woke up)

[zangdook] 08/8/2012 09:43

I don't see any change of status - he's non-independent, non-executive.

[richscotsman] 07/8/2012 15:42

well, whilst the vulture circles we still progress towards the BFS completion... tick-tock-tick-tock.... we should be a bit clearer by christmas...

[ian 50] 07/8/2012 15:20

Who knows what price Enk will support!!

I know no more than last weeks RNS

All I know is at some point we'll be taken out off our misery.