Galileo Inn. Share Discussion Threads

[peea01] 15/3/2003 00:44

I think that you'll find that the offer will be rejected.

[mrkournikova] 15/3/2003 00:42

Hi,

Interesting piece from The Telegraph, thanks. Maybe Paul Davidson is not behind the bid afterall, that's if his comments of "not enough" and "two pounds would be better" are to be believed. This is Paul Davidson though.

I believe that Peel Hunt, Galileo's broker is sending out a letter to shareholders imminently about the approach that Galileo has received. Only an approach though, no firm offer made. Any firm offer would have the name and full details of company making the offer and comments etc etc...

Anxiously await further details. I'm almost certain that we can block this deal going through, that is the good news!!!

MrK

[peea01] 15/3/2003 00:34

what's the total now?

[croasdalelfc] 15/3/2003 00:01

Count me for 136k

[poolman] 14/3/2003 21:53

I`ve got 200,000 for the pot.

[mrkournikova] 14/3/2003 20:37

Hi,

I have been saying that we should wait for details of the approach before launching an action group or the like. Emotions? I don't know the word! The only reason I buy and sell shares is to make money, emotional views cut no ice with me!

I am going to wait, for details of the offer. But if this is an oportunist bid and Galileo are not in trouble we must seize the bull by the horns and press ahead in stoping this deal. I have been apart of action groups before and as shareholders we all have a right to be heard by management. Forming an action group and acting as a whole body is going to be the best thing if this is a duff deal.

But PLEASE I have been saying that we need to have full details of the approach and This approach might be the best we can hope for if this company is in dire straights!

This is imperative before launching an action group!!

Thanks

MrK

[scunny2] 14/3/2003 19:13

I have followed this BB for some time and i have to say the only person whom i i really read and agree with is hugepants. He has been right all along and is still right with his view that you cannot comment on an offer unless you know the full picture. My educated guess given the burn rates in GAI, Sensonic, FCS and the toothbrush company together with float costs at circa £500k a time would lead me to believe that the reason for delaying the annual accounts is because they will not get a going concern tick in the box as they have run out of cash. Hugepants is correct IMHO so a shareholder revolt might result in administration and nothing!!!! Think without emotion is my advice. If PD is the buyer he must be crazy.

[ginto] 14/3/2003 19:12

Lets wait for clarity from the company before we start setting up action groups and websites - I know it's difficult,but we all need to calm down and wait.

[eurofox] 14/3/2003 19:00

what sort of help are you likely to need?

[mrkournikova] 14/3/2003 18:04

There will be a seperate website that I'll launch for us to be as a whole shareholder block.

But as I say...details of the approach first!

MrK

[mrkournikova] 14/3/2003 17:59

Guys, Don't worry I'm just biding my time before launching an action group. I'll drum up media support etc etc but can a couple of people volunteer to help me /advice/opinions. But we'll all be in this together! Sreddy would be great if she has a spare moment or two.

But it's best not to jump into this head first, we need to know why and who the company/person that has approached Galileo is. It worries me that the price is so low! But it may be an oportunist bid. Only when we have the full details is it safe and wise to launch an action group.

I'm keeping a close eye on things first.

Hope no one minds me spearheading this whole thing. Someone's got to and I've got a few useful contacts. But it must be a whole team effort of every Galileo shareholder. There will be editorials etc...

Don't get too excited yet! This offer might be all we can hope for.

MrK

[cappagh] 14/3/2003 15:26

A few years ago, Sugar tried to buy out Amstrad
but failed because of a shareholders revolt.

[moneypit23] 14/3/2003 14:58

Hugepants - thank you for pointing out my spelling error - result of starting the weekend celebrations early.

[grebo] 14/3/2003 14:48

If the bid is from an unconnected outside source and all the directors think it's a fair price then I'd be happy to go along with it.

If this bid really is from the plumber, and if he won't let us see any results before considering a bid, then NO way will I vote for it.

[hugepants] 14/3/2003 14:45

I concur.

PS. it should be "sense" instead of "sence".

[moneypit23] 14/3/2003 14:30

Hugepants - agree with you, but it would make sence to see if we have enough clout should it come to it.

[jubjee] 14/3/2003 14:08

Don't expect we'll ever see the results.

[hugepants] 14/3/2003 14:04

Guys how can you try and block a takeover when you (nor anyone else it appears) has the foggiest idea as to the current state of the company? Maybe its a great offer. No one knows. Its ridiculous these clowns cant/wont publish the results.

[grebo] 14/3/2003 13:46

If anyone gets a letter about the offer, can they post a summary here as I have all my holding in a nominee account, so it's fairly likely I won't get the letter.

Thanks

[wicky] 14/3/2003 13:11

only 19000 but count me in

[eurofox] 14/3/2003 13:05

i think 10% is 8,750,0000

[ginto] 14/3/2003 12:34

From today's telegraph

Plumber's Spanish harbour
By Rosie Murray-West (Filed: 14/03/2003)


Former pipefitter Paul Davidson, the flamboyant trader also known as The Plumber, has swapped joining pipes for selling pipe dreams, setting up an estate agent to market luxury Spanish property.

His new venture, Cheshire Estates, sells property in Spain to the affluent inhabitants of Wilmslow, Cheshire. Speaking from his own Spanish villa yesterday, he said the newly opened business is "doing a bomb", and that "people wouldn't believe how well it is going".

"I'm sat here in Marbella," he continued. "I'm wondering whether to go out in my Lamborghini, my Ferrari or my Porsche. I can see my boats from here too. The weather is just perfect."

The opening of his new venture came as one of the businesses he floated, Galileo Innovation, received a 1.25p-a-share indicative approach from a party the company said was "serious".

Mr Davidson, who still holds a 15pc stake in Galileo, said the approach was "not enough", and that "two pounds would be better". Galileo, which invests in new inventions, has seen its shares tumble from 20.75p 12 months ago to an all-time low of 1.25p, down 0.1 yesterday.

The Plumber, who lives in Prestbury, Cheshire, when he is not in Spain, hit the headlines this time last year when it emerged he had made a spread bet on Cyprotex, a company in which he owned a 35pc stake.

The bet sparked an investigation by the Financial Services Authority after claims by Cyprotex shareholders that Mr Davidson's spread bet distorted the market in the stock, because the firm who took it had to buy shares to hedge its own risk.

Mr Davidson, who said at the time that he would never do another spread bet, said yesterday that the Cyprotex bet was still open.

"I'm just waiting for it to roll over again," he said. "Cyprotex is the best-value share in the market". Since Mr Davidson made his bet the biotechnology group's shares have fallen from around 30p to 3.25p. He admitted this had "not done much" for his spread bet.

The Plumber made his millions after inventing a device that joins pipes together. He then floated Oystertec, his pipefitting business, and put Angus Monro, the former head of Matalan, at the helm of the business.

Despite a highly publicised spat, Davidson has always insisted that relations between the two, who are neighbours in Cheshire, are perfectly cordial.

[kickstart] 14/3/2003 12:22

Hi all I dont tink I have posted on this thread but I have 310,000 shares and although I will wait and see this all looks very dodgy to me I have just come in late and got a shock when I read the announcement. Stinks IMOP. I am happy to put my weight behind any campaign if it does turn out to be fishy.
Howard