Galileo Inn. Share Discussion Threads

[sreddy] 13/3/2003 16:31

I know someone else with 500k shares - so that's 1m - only 5m to go. Come on let's give him a scare.

[moneypit23] 13/3/2003 16:29

Well I've got 548,530 shares if that's any help.

[responsible lad] 13/3/2003 16:27

I sold of a 1/2 of my holding, think I will keep the rest now looking at the NAV.

[sreddy] 13/3/2003 16:22

If 'The Plumber' is trying to take the group private at a knock-down price because he sees hidden value (particularly in FCS), then as long as holders of 10% hold out we have the two following scenarios:

1. The bid fails as his probable 90% acceptance condition is not met and GAI go to plan B, whatever that is; or

2. He waives this condition and those who held out remain as minor shareholders in the private arena who, although illiquid (unless he buys us out at a higher price later) wait for the true value to out when he realises this by trade sale of the investments or even flotation again. 10% prevents him from compulsorily acquiring at the offer price those who did not reply or accept the original offer.

Right, I've got 3.13% - who's got 6.87% (6,011,250 shares).

Of course, he could just be scaring out sellers which he is then mopping up at 1.25p, in volume. Who knows? It will all come out in the end.

That's nice, PRM now up 2.75p (£11k movement) - takes some of the GAI pain away.

[bluemerle] 13/3/2003 16:20

I have e-mailed the company protesting that they are even considering such a low price.

[bluemerle] 13/3/2003 16:12

Isn't there anything we can do as a group? Surely, if the NAV is 5p it would be immoral, if not illegal, to offer less. We must count for something!!

[britishbear] 13/3/2003 16:00

Grebo,

See




This is a total stitch up where only the small retail investor is shafted. He knows there is hidden value. To make such a low bid is incredible.

[smartypants] 13/3/2003 15:53

well thats me gone boys !
lost 3 months wages....
going to take this off the screen now
see you on some other thread
all the best
hi silver away.......................

[grebo] 13/3/2003 15:40

British bear,

Where did you get the info that the bidder is the plumber. Nothing in the announcements about who it is.

[grebo] 13/3/2003 15:39

So the guy who has the best chance of hiding things from us, and probably has most influence in the delay of the results has decided to make an offer for the company ? Will ANYONE on here vote in favour, I certainly wouldn't.

[knopfler] 13/3/2003 15:36

i'm sure there are a few 'worst case scenarios' but what if the 1.25p offer is actually at a premium to the nav.

would people stop saying that the results 'have' to be out by the end of march - they don't 'have' to be out at all - the shares will just get suspended if they are not. they may even get suspended earlier - who knows?

i'm selling on march 28th if i don't read anything that will make me change my mind. should manage a mcdonalds with the proceeds.

[smartypants] 13/3/2003 15:25

may I make a sugestion
take GAI off your monitor/watch list
put it back on in a month see if its still there
it dosn,t hurt so much that way.

[sreddy] 13/3/2003 15:14

Doodle1,

I should have added a PS. To put things into perspective, my PRM going up just 2.25p today increases my profits by £10k and would recoup 4k of my GAI losses through loss relief at some point. GAI is very annoying and I keep thinking what I could have blown the cash on instead of throwing it away, but PRM just needs to go up 10p to make me feel better again. I am hoping for big things from PRM despite the dire markets, and it remains my largest holding by far. Please DYOR on this one and be careful - remember I am a risk-taker by nature.

Apologies for my enthusiasm on GAI - I still think my analysis if one or more of the floats happened was fine. I just did not expect the consequences of non-flotation to be apparently so troublesome given the previous announcements and noises from the company. Still, all is not lost yet. Let's see what develops - it could be positive.

[britishbear] 13/3/2003 15:07

Bidder is "The Plumber" Davidson.

STINKS - I hope you lot realise you are being shafted. Why not pull the floats and take it over and then float to keep all the loot.

Whenever I see Nav_Mike and TOM2468 on a board I sell as fast as possible ;-)))

[mrkournikova] 13/3/2003 14:47

Email is

Edited

Can you let me know when you've got it? Thanks mate!

Hmmmm I assume David Lloyd would not bid for Galileo...I thought he was only in it to make money.

MrK

[grebo] 13/3/2003 14:37

So come on GAI, release some results so we know how much cash is left.

Or are they planning to wait till after the takeover to show us how much we've been shafted ?

[kennethrich] 13/3/2003 14:33

who is it bidding for them..... david lloyd ?

[kennethrich] 13/3/2003 14:32

mrk email me lost your email mind you what changes thee allways losing stuff

[mrkournikova] 13/3/2003 14:27

Really sorry about this guys, I certainly never saw this coming and believe I have been conned by the directors. They certainly made me believe the Galileo success story. Too good to be true? You betcha!

Who's Bidding

Perhaps a MBO? Maybe this is why they ARE even considering an offer at 1.25p.

Perhaps last years bidder has returned now GAI are apparently so cheap?

Why Are They Bidding?

Galileo has blown all the cash? I can't see any other possible reason behind such a low bid.

Look to The Daily Mail on Wednesday 6th November 2002, the article says ...Though Davidson says the cash pile is intact.
This kept me believing and I don't believe this to be the fault of the reporter Cliff Feltham, I believe it to be more of Davidson's lies.

What To Do?

I have to hold on. In hindsight I wish I had sold out at 2.75p...I had the faith! Maybe it is best to hold on.

You can't even sell for 1.25p now so everyone basically has to hold on, what a shame. I'm devestated!

Results to 30th September 2002 still HAVE to be released by the end of this month and this should give us a clearer picture. Why are GAI making us guess all the time??

A disollusioned MrK

[kamlani] 13/3/2003 14:20

i am right in assuming that the WHOLE company including any stakes it has in others will go for 1.25p a share if they agree the bid? WTF! sorry for my language but i have been holding these since last year in a hope that they will sort out ALL my loss's to-date what about the other floations and so on? some one please tell me i have miss read this

[responsible lad] 13/3/2003 14:14

I may just sell my shares in the market for 1p. Can not be bothered to wait for the extra 25% since I am skint. I just needed any excuse to sell and I will.

[sreddy] 13/3/2003 14:14

£40k (less £16k of future tax savings - I have made other good gains this year, but some of the loss relief may only happen next year).

This is a very bland statement - not mentioning who and what happens if not accepted. Hopefully all will become clear when more details released - at least at the moment it doesn't say that if not accepted there are no alternative courses of action.

[cappagh] 13/3/2003 14:13

Well! I've sent my protest off.