European Nickel Share Discussion Threads

[tourist07] 05/9/2012 22:48

I love the "keep 1 share" strategy!

I can imagine it would cost well over 100 quid per shareholder to go through all the paperwork and legal costs of the compulsory purchase ....

..... can´t stop laughing at the thought, I´ll keep one for sure.

[richscotsman] 05/9/2012 20:59

Tom

I really suggest you exit IMHO. If they delist and have control then they have all the power and you will have no clue as to what is going on day to day. I traded through ope recently in a similar situation but it kept its listing.

The question you should ask yourself is whether you want to own shares in a non-listed foreign owned company and what resources you have to pursue legal action in the event they screw you.

Best off selling up and finding a way to make sure the bod pay.... Somehow, at some point.

Nuff said and good luck. Don't forget to leave 1 share if you do sell.

Rich

[tomandgerry] 05/9/2012 20:32

Re post 7691
Do I take it that nobody has an opinion or just that nobody cares? Genuinely wonering if I have a realistic choice. I hold just short of 213k shares.

Tom

[richscotsman] 05/9/2012 19:04

Too late for me but I will buy 1. Sle looking extremely promising and abc results due tomorrow so on to pastures new. I still bear a grudge however.

[eelanguilla] 05/9/2012 18:11

richscotsman
5 Sep'12 - 08:55 - 7694 of 7695

hmmm.... thinging about buying back in...

an investment of 19p would get me on the books.... and if others did the same... it would buy access to what happens going forward... although unfortunately it might provide them with an administrative burden.... shame.... lol

....

actually that gave my an idea - what to stop me selling and leaving 1 share left lol

[richscotsman] 05/9/2012 08:55

hmmm.... thinging about buying back in...

an investment of 19p would get me on the books.... and if others did the same... it would buy access to what happens going forward... although unfortunately it might provide them with an administrative burden.... shame.... lol

[togglebrush] 05/9/2012 06:30

Yesterday was NOT the FAT LADY singing just a Poker Player SWORD RATTLING

By my Calculation, using a back of a Beet Mat, the position is roughly:-

Shares owned___________Time of Offer The %____Y'day_______The %

Offeror Original_______30,472,068___11.6%_____30,472,068 11.6%
Offeror Bought since__________________________38,961,756 14.9%
Undertakings Original__88,769,093___33.9%_____88,769,093 33.9%
Undertakings Added_______________________________794,317 _0.3%
'
Major Investors_______134,831,239___51.4%____103,005,769 39.3%
Private Investors_______8,031,603____3.1%________100,000 _0.0%
=====================================================================

Total_________________262,104,003__100.0%____262,104,003____100.0%

Errors and Omissions excepted

Bear in mind that Montoya Investments, largest supporter and shareholder, made substantial share purchases in Mid-September 2011 when share price was around 16.75 per share and so has only a small profit advantage. Other concert party members may also be vulnerable to higher offers.

Assumes small Private Investor holding has all but disappeared

The twenty or more Major investors have muscle and legal departments, Hence may be less inclined to be worried by Aggressive Asset Strippers.

[eelanguilla] 04/9/2012 20:45

Just a list of names of the directors is needed ........

[tomandgerry] 04/9/2012 20:29

I am a bit bemused. Opinions anyone?? Does this efectively mean, as I think it does, that it is all over and that I have little choice (other than hold out in a delisted entity with uncertain exit options) but to accept the 19p offer?

Tom

[richscotsman] 04/9/2012 19:03

Oh well... The Fsa should still be after chip... That should soften the blow.

[rrr] 04/9/2012 18:30

Appalling. I must read the small print before buying shares in future -

'The Offer is not subject to the City Code or the jurisdiction of the Takeover Panel and this announcement has not been prepared for the purposes of complying with the City Code.'

[benson384] 04/9/2012 16:40

Can they still do the compulsory acquisition of shares when they did not get 90% ? Think we are in a status quo scenario now....
Good to see the non execs. have earned there pay................paid by the shareholders of course. Next stop part of the coalition govt. with there track record !!!

[drewz] 04/9/2012 15:50

Complete and utter disgrace.

Majority shareholders, complicit with directors, tear up the takeover rules to suit themselves and shaft the minority shareholders.

Why has Gregory had nothing to say about this daylight robbery of the minority shareholders?

How can the directors recommend takeover of 28p worth of assets for 19p without a word of explanation?

What secret deals have been done with directors behind minority shareholders' backs?

They intend to take the company private asap so any inconvenient truths can be buried out of sight.

[giant steps] 04/9/2012 15:32

What a disgrace (from DMCI announcement 4th Sep 2012)

"
Therefore, together with the 53,981,824 Shares, representing approximately 20.6 per cent. of the entire issued share capital of ENK, owned by the Joint Offerors on 22 August 2012, the Joint Offerors now own or have received valid acceptances in respect of a total of 159,100,234 Shares, representing approximately 60.7 per cent. of the existing share capital of ENK.

The Joint Offerors have today determined that the 90 per cent. Acceptance Condition will be waived and treated as satisfied. In addition, the Joint Offerors confirm that all the other Conditions to the Offer have been satisfied or waived and, accordingly, the Offer has become wholly unconditional.
"

[tomandgerry] 31/8/2012 19:32

Not quite sure why, but I am holding out for now. I feel that there is a few bob more to be had yet, before they get to where they want to be. Not a very reasoned approach, just instinct with a dash of old fashioned stubbornness.

Tom

[vosene] 31/8/2012 14:33

If anyone still has the stomach for a Nickel laterite investment, come join me at Horizonte. The tumbleweeds are blowing across the message board over there. They released a PEA the other week which should provide enough bedtime reading to last a week - it's a link on the following page


They are also presenting in London in 2 weeks.

They had this to say on the AHL/ATL process, interesting contrast with ENK:

In the PEA study we looked at three process options; Rotary Kiln Electric Furnace; Atmospheric Tank Leach and Atmospheric Heap Leach ('AHL'), to ensure that we had evaluated all the mainstream process options available in the market place. All three processing routes returned solid project economics however due to the high technological risk associated with the AHL process the Company is only pursuing the RKEF and ATL processing routes.

[richscotsman] 31/8/2012 14:27

Tsunami alert in the Philippines... Triggered on the eastern side though.... May be as well you sold out when you did.... Best of luck all.

[frogkid] 30/8/2012 18:19

more likely the concert party are paying over the odds for them. Of course they are not allowed to do that unless they increase their offer but who is going to enforce that ? I am also out as previously mentioned

Best of luck guys

frog