European Nickel Share Discussion Threads

[tmc25] 30/8/2012 15:23

Just sold my holding 101,427 shares. Used fill or kill order, they executed at 19.1 pence. I only asked for 19.03 pence, but they seem to be generous today.

Also Market Makers must be working for someone, my shares were immedeately split into 2 portions: 59,427 and 42,000 (one showing as a sell, onother one as a buy)and resold to someone at 19 pence.

I wonder may be MM got wind of a better offer coming, that is why they do not mind paying a bit extra over 19 pence.

Have been holding these for 4 years, what a waste of time.
Good lesson for me though not to invest in dodgy companies operating in exotic locations.

Good luck to all remaining holders.

I hope you will get a better offer from these crooks.

[jezza123] 30/8/2012 15:08

LOL - Benson384 you're a funny guy.

[zangdook] 30/8/2012 12:32

ISTM the board ought to have proposed that motion at the first opportunity after the merger with Rusina, or as part of the merger process.

[benson384] 30/8/2012 12:27

Interesting that Resolution 10 was defeated, which would have brought us under the Takeover Panel Code Rules,giving protection to smaller shareholders......

[metex] 30/8/2012 11:30

30 August 2012

Result of AGM

30 August 2012 - ENK PLC ("ENK" or the "Company") (AIM, ASX: ENK) announces that at the Company's AGM held today, 30 August 2012, resolutions 1,2,3,4 and 5 proposed to shareholders were duly passed and resolutions 6,7,8,9 and 10 were rejected.

[richscotsman] 30/8/2012 11:14

...correction.... 5 positive RNS's ... I can't count... and trading at a fifth of the (admittedly biased) broker valuation.... Lets hope the vultures don't swoop over at SLE as well...

[metex] 30/8/2012 11:04

richscotsman....seems like a sensible move.

Waiting on news from AGM too!....DYOR.

[metex] 30/8/2012 10:45

AtlanticBridge....the ENK management?....no comment!....DYOR.

[atlanticbridge] 30/8/2012 09:30

IMO Management should have kept their eyes on the share price These vultures have been circling for years and not very quietly either.

[mark_jm] 29/8/2012 19:40

I thing DMCI etc have been watching this for a long time. They have tabled an offer at the worst possible time for enk share holders and best posible time for them selves. Thy must have had pre bid acceptances sufficient to give them close to 50% or above, so how can the diretors fight. The directors themselves wil loose out at 19p (Check the histry of director purchases, so they must be talking to other interested parties, but as time goes by and DMCI clear take all the slack any counter would have to be at or above DMCI's eventual sell target price, ( probably a lot hihger than 19p) - not looking so likely at present. A good BFS would have de-risked this and pushed the price higger, but you have to factor in risk associated with finding an oftake partner and finance to arrive at the final valuation a that point, and thats a matter for the market so who knows if the price may have gone over 19p even with a good BFS.

I would also say that staff commitment is probably going to effect the finalisation of the BFS now, so it all lay into the hands of DMCI. Our only hope is a last minute counter bid from some one thathas an alterior motive to own ENK - an any one think of any one like that? There is always the chance they wont get the 90% required to delist, but what will hapen to the shares if theres omly 15% free float, probably downside pressure due to lacj of demand, unless of course the remaining holders stand solid and wait for DMCI to sell on in 12 months with a finalised project on their hands.
I'd say its now a race between the BFS and the 14th Sept offer deadline.

DMCI have raped us PI's following long stint of loyalty to ENK - F_____S. I wouldnt blame the Board for this necessarilly blame DMCI for underhand dealings and ignoring shareholders interests in favour of their own. Come on the Board - find a counter bidder fast

[richscotsman] 29/8/2012 14:50

.... Just found 323000 of these that I forgot I had in addition to those in my sipp in a trading account I don't use very often.... Some more no votes there then....

[benson384] 29/8/2012 10:13

Even 25p would be a great deal for DMCI...............these were trading over £1, and that what on a project basis, as opposed to being +50% down the road to seeing it turned to reality, up and running.

[richscotsman] 28/8/2012 19:18

Given all that has gone on I would settle for 25p and a free shot at the directors kneecaps....

[ian 50] 28/8/2012 17:18

They want the shares and are pushing the price up by themselves

Creating there own market

It could ironically go higher

Benson 384 you make sense whether it pans out like
Thatvim not so sure

[benson384] 28/8/2012 15:58

Maybe MM's who have to square there books ? i.e. are short of the stock.
Not enough volume to be another predator, me thinks.

[tmc25] 28/8/2012 15:56

They are currently offering 19.03 to sell. Why are they so generous and offering more than the official offer price?

[benson384] 28/8/2012 15:45

Having read....the offer document, I get the impression that the Non-Exec's are only endorsing the bid as it is the only offer on the table, and the potential to be left as minority shareholders with no say.
It is the only reason, from a shareholder view that they have endorsed the offer, when the Co.has enough cash resources to take this Co.further. Talk about pouncing before the goose has delivered.....
90% I reckon is going to be hard to find. If there was no funding,no equity raising in place, which the document actually says "discussions are going well" then ok. If on 30/08/12 an acceptance of say 65% + or -, then the bean crunchers may tell their shareholders a little bit of common sense..."The bid undervalues the company by 50%....." as it stands at this moment.
Any thoughts ?

[ian 50] 28/8/2012 14:06

1 hour later 18.87p

[togglebrush] 28/8/2012 13:54

Barclays

Valid at 13:50, 28 Aug 2012
Stock information Value
Buy price______________ 19.25p
Sell price_____________ 18.75p
Change +0.13p
Volume of shares 3,316,404

[ian 50] 28/8/2012 13:02

Sp dropped now 5% spread

[ian 50] 28/8/2012 12:18

Either the BOD's have either given up co
Completely or

There's a rabbit coming out the hat

I won 't hold my breath

NB share pr 19.04p. ???

[richscotsman] 28/8/2012 07:24

Ian... Take a look at Sle this morning.... At least they have a bod who earn their keep.