Global Marine Energy Share Discussion Threads

[pomp circumstance] 19/12/2007 21:03

thats not right, they cant offer MORE in the open market.

look at pearl they have been upping their stake in RSl at lower prices than the bid they have made.
If people want to sell up before the bid is final thats up to them, but the buying co cannot offer to buy one blokes stake at a higher price than they offer everyone else!

[cyberpost] 19/12/2007 20:58

pbracken..i stand corrected. I believe they arent allowed to buy the stock in the open market at any price less than the offer they have officially made (eg 16p).

Anyway its good news... the deal is as good as done. As it was released after market close (the buyer) the price could be marked up tomorrow.

[pomp circumstance] 19/12/2007 20:28

done deal then! EMER have protected themseves against a predator!

[murtceps7] 19/12/2007 19:52

Maybe they think they will be able to keep them ? In which case so will we

[volvo] 19/12/2007 18:09

Well there you have it.Our purchasers through Fairfax has bought Gartmores shares.It is a done deal and the markets have not priced this yet.

[pbracken] 19/12/2007 15:36

It doesn't; I was clarifying an ealier post between cyber and me.

But the fact that SOMEONE has bought the shares adds credence to the view that the current share price is an anomaly, and one to take advantage of. Except, the MMs will sell you next to nothing without a hefty premium, which tells its own story.

[pomp circumstance] 19/12/2007 15:30

where does it say they have bought the shares?

[pbracken] 19/12/2007 15:04

As I thought, EMER is allowed to BUY shares in GME.

[volvo] 19/12/2007 14:45

Thats the sale confirmed.Who bought them.

[volvo] 19/12/2007 14:21

Pomp three options here

The Gartmore shares were sold to a intermediary of EMER to bolster the buy out.

As you say a third party has bought them and is going to over bid EMER.

Someone bought them to make .5p.This is unlikely.

Either way the 15.5p is the going rate.

[pomp circumstance] 19/12/2007 12:27

Think bigger here.

GARTMORE supported the EMER bid, now someone has come along and just before the results and bought Gartmores shares for 15.5p.

EMER no longer have the support of the shareholders for their bid, unless its been transfered by the share trade.

What this could mean is that we have ANOTHER BIDDER, who have just picked up a big lump of shares for less than they will eventually have to bid to out do EMERs 16p.

They are also only a few shares away from having 30% plus.
Which means they could show their hand very soon if they buy any more!!

Of course it could be just Gartmore moving the shares from one fund to another so the price is irrelavant, so is the trade and so if the last 10 lines ive typed!!!

But speculation is what we're here for and Im betting there is another bidder in the background!!

[pomp circumstance] 19/12/2007 12:11

we shoud find out very soon who bought them!

[steves2] 19/12/2007 11:15

Volvo / PB - thanks I see the light now.....

[pbracken] 19/12/2007 10:49

steves2 - look at what you DO know. Gartmore has sold its stake (a THIRD of the company) for a 40% premium to the then share price. Now, if you want to take that as a negative, be my guest. But anyone who doesn't see that GME is now a very good bet needs their head examined. I know a good doctor.

[volvo] 19/12/2007 10:47

steve it is the price they got that was the most important part.

At 15.5p at this stage that is full price.

Starting to look like at least 15.5p for anyone buying today.

Who bought them?

Think your buy Owl will come ok.

[steves2] 19/12/2007 10:31

Why would Gartmore sell out? what do they know?

[murtceps7] 19/12/2007 07:31

Owl says he is back in :-)

[pomp circumstance] 19/12/2007 07:03

Who has bought Gartmores 20.99million at 15.5p to get a profit of 0.5p per share or 110k pounds?

Yesterday Trade
0 A3001YDJE7 15.5 20992498 O 11.5 11.75 15:19:41


Previous Info



1. KEY INFORMATION
Name of person dealing (Note 1) Gartmore Investment Management Limited

Company dealt in Global Marine Energy plc

Class of relevant security to Ordinary GBP0.025
which the dealings being
disclosed relate (Note 2)

Date of dealing 6th November 2007
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 20,992,498 (29.04%)

[cyberpost] 18/12/2007 17:23

oooops.. sorry owl. should read 500k

[gwp23] 18/12/2007 16:59

back in with a guaranteed spread bet....can't lose on this one

[the_owl] 18/12/2007 16:57

cyberpost - 500,000,000 ??

[pbracken] 18/12/2007 16:37

OK cyber - but overhang is an odd description for Gartmore's holding.

[cyberpost] 18/12/2007 16:26

pb

EMER cant buy any stock....unless its for 16p. thats the rules.

some other institution has bought the stock. There was an overhang of stock... my broker told me. Thats why was i was able to by 500m shares so easily.

[pbracken] 18/12/2007 15:33

No overhang - Gartmore have sold its stake to EMER or some other organisation. The deal's on.

[cyberpost] 18/12/2007 15:28

stock overhang clearance seems to have pleased the market makers