Boostgold Discussion Threads

[nevar] 10/3/2010 19:56

anyone want to buy 3.5m at 35p?

[isis] 10/3/2010 16:48

The bid went up from 100k @34.01 to 250k @34.01 so there is a big buyer still out there.
When Director options are taken into account Constellation only have 40%.

[isis] 10/3/2010 15:47

Constellation can still lose this as it will take more than one large shareholder to get them over 50%.

Obviously everyone would take the higher bid once it is confirmed so they need to do that ASAP.

I'm sure GLD will communicate something pretty quickly - nothing happens for months and then it all kicks off!

[davidosh] 10/3/2010 15:21

grahamburn....good point but the company have to notify the market once they are notified of a change in holding. I doubt SZ is very happy with him selling to Constellation.

[isis] 10/3/2010 15:20

Seems a little too coincidental to me. After all he did sell them to Constellation and it was just after their announcement.

I thought it was 3 days to announce holding changes but might be different for AIM.

I thought he was one of those who didn't want Constellation, things are changing all the time here though.

[grahamburn] 10/3/2010 15:15

Is the timeline of Stokes' holdings RNS significant? Just after the Offer Document posting RNS. Or pure coincidence?

[isis] 10/3/2010 15:08

phillis - what kind of nob are you?

It was only announced half an hour ago!

LOL

[phillis] 10/3/2010 15:06

No response yet from the Company
Shambles or playing a long game/
The former methinks

[davidosh] 10/3/2010 14:45

I see that Jeremy Stokes has now owned up to selling out to Constellation but it took him over a week to do so. Slow notification and breaking the LSE rules which is naughty for an ex director of the company. He never attended board meetings or AGMs so I guess we should not expect too much.

[grahamburn] 10/3/2010 14:31

RNS on Constellation posting offer document just released. At a price of 33p. Responses required by 31 March - just need the odd 3m shares to make it unconditional.

[ldmachin] 10/3/2010 12:26

Someone must have a good broker getting all those shares at dead on mid-price. Usual crooked games. One rule for us, one rule for them.

[greengiant] 10/3/2010 12:18

Expecting to see another RNS from Millenium today. I wonder what their agenda is?

gg

[greengiant] 09/3/2010 13:01

grahamburn, the issue for me is that Millenium keep offering money for my shares now - to me it is only a question of time before I sell them (when they hit my price of course)

dd - I am comfortable with next years tax position, I am going ex-dom :-), not because I don't want to pay UK tax, but I live abroad for most of the year now.

isis - interesting how they are REALLY struggling to get any shares, what was it that they added? 50k? You would have thought that if they wanted to build a big position they would have paid me my price :-)

gg

[isis] 09/3/2010 11:38

More buying:-


Name of person dealing(Note 1) Millennium Partners, L.P.*
=-----------------------------------------------------------
Company dealt in GLADSTONE PLC
=-----------------------------------------------------------
Class of relevant security Ordinary Shares
to which the dealings
being disclosed relate(Note 2)
=-----------------------------------------------------------
Date of dealing 8 March 2010
=-----------------------------------------------------------




2.INTERESTS, SHORT POSITIONS AND RIGHTS TO SUBSCRIBE





(a) Interests and short positions (following dealing) in the class of relevant security dealt in (Note 3)



Long Short
=--------------------------------------------------------------------------
Number (%) Number (%)
=--------------------------------------------------------------------------
(1) Relevant securities
=--------------------------------------------------------------------------
(2) Derivatives (other than options) 1,510,000 3.13%
=--------------------------------------------------------------------------
(3) Options and agreements to purchase/sell
=--------------------------------------------------------------------------
Total 1,510,000 3.13%
=--------------------------------------------------------------------------

[isis] 09/3/2010 11:29

36p is a bit different from 25p - that's about 40%!

I notice in the meantime Vantis has lost 2 thirds of it's value.

[davidosh] 09/3/2010 10:07

gg....I would be careful with your CGT tax planning as the current situation with income tax high rate moving to 50% after April 5th and CGT at 18% suggests that the latter will be moved again to bring it closer in line. Why not hedge your position if the outcome is known before 5th April by moving some of your holding to a spreadbet. I can explain if you give me a call.

[grahamburn] 09/3/2010 09:55

GG. Re: your post 3319; really can't see an offer being done and dusted (ie approved/unconditional) in four weeks. Constellation haven't even sent out their initial documentation yet and there would need to be at least 21 days thereafter, without the complications that are already in the public domain. The only potential disadvantage in this would be an upward change in CGT in the next tax year which is a real possibility, I fear.

[davidosh] 09/3/2010 09:48

gg... Agreed I was waiting for that 13% info too. I am even more surprised as we are within a takeover period and it is seen as even more important to notify so individuals can get into trouble for failure to do so.

[greengiant] 09/3/2010 09:13

Also, somebody is being very naughty and not releasing a RNS regarding the sale of the 13% to Constellation.

gg

[greengiant] 09/3/2010 09:12

I don't understand - someone please help me. I thought the options had to be exercised prior to them being included in the calculations.

gg

[greengiant] 09/3/2010 08:26

Phillis,

EBITDA seems to be the new measure these days, but I was always an EBIT person for the simple reason that the Depreciation charge eventually has to reverse as you purchase new assets that replace those that have come to the end of the useful economic life.

luckybullboy - I know it was suprising for me to see, but def. went up at Finals.

egoi, I think they have supported the offer at 36p only so much as this is the largest offer. I would support it too, if there was no other offer forthcoming. I can't see Constellation offering anything other than a smidge over 36p. I was also told yesterday that when this process started GLD board had been told that Constellation were a seller. This may explain why they never factored in a bid from Constellation. In which case, very sneaky but very clever way of doing it.

All in all, I have no idea how this will pan out, but I am hopeful that as and when it does it is after 5th April - no point in paying your tax 12 months early for the sake of a month!

gg

[egoi] 09/3/2010 08:04

Why would the Board recommend acceptance of 36p if they thought it was worth more?

Isis you're the resident expert at smoke and mirrors, over to you for that one! ;-)

[langland] 09/3/2010 07:53

Isn't ther some takeover panel rule that bids have to be increased by a certain percentage? Otherwise, we could go up by halfpenny at a time. Someone needs to check the rules. Sorry, but I do not have the time.