Goodwin Share Discussion Threads

[shanklin] 11/6/2023 15:51

Thank you gdjs100

HL have now processed mine

[gdjs100] 11/6/2023 13:10

I have two lines on my HL SIPP portfolio view - one assented line with "accepted", and one assented line with "rejected".

[shanklin] 11/6/2023 12:12

No sign of it on my HL SIPP.

[gdjs100] 09/6/2023 19:01

HL allocations are now in.

[garbetklb] 09/6/2023 18:41

Missed that - thanks

[gdjs100] 09/6/2023 10:12

They updated it in the most recent RNS to 7/6.

[garbetklb] 09/6/2023 08:16

To be fair, we were told that this would settle 14/06/23? AJ Bell surprise - they are normally slow with everything! And, despite being very cheap, Iweb are normally very efficient.

[shanklin] 09/6/2023 07:27

It would be nice if HL could get their a&^e into gear on processing the tender results.

[garbetklb] 09/6/2023 01:03

I've received results of tenders for II & AJ Bell for accounts I look after for various family members; in all cases I tendered 100% of the holding :

II - SIPP & JISA both 45% tender rate

AJ Bell - Trading account 42% tender
AJ Bell - SIPP 63% tender

All of these are higher than I initially guessed - and a bit higher than I estimated. Probably due to few people tendering for a basic allowance.

The very high figure for the AJ Bell SIPP shows that it is held in a different nominee account - and very few people tendered.

I'm still awaiting Iweb

[jaf111] 08/6/2023 10:40

Moneies in with II….I tendered 100% and received 45.3% payout……

[alexisk] 07/6/2023 15:50

I put 100% of my Goodwin holding, held through EQI, up for purchase in the tender and have just heard from EQI that approx 37.5% of the shares I tendered above the 2.34% guaranteeed minimum have been accepted for purchase by the company. I will be buying those shares back in the market in due course.

[cfro] 02/6/2023 15:57

I see ii's Richard Beddard also declined the tender offer too.

[garbetklb] 01/6/2023 10:25

I don't think there will be another RNS - we know what we need to know. And the RNS explains the mechanics - inc the pro-rata additional take.

Anyone tendering 2.34% of their holding will be fully satisfied

Anyone tendering over 2.34%, will have 2.34% taken. For any shares tendered above this will have their offered shares scaled down to the extent needed to satisfy the overall take of 180,000 shares. In the example I gave above it would result in about 36% take up of these excess tendered shares.

I suspect they won't look through the shares held in nominee accounts to the individual underlying shareholders, so the percentages for different nominees will differ - possibly markedly so.

But overall, that's how it should work. And I doubt anyone who tendered will be disappointed - especially as they can still buy back shares at below the tender price.

[cfro] 01/6/2023 09:27

My maths isn't great but i do know that 411,371 does not go into 180,000 Lol..

Therefore there will be many disappointed investors. There are one or two important figures we don't know however like the total number of shareholders in GDWN and the total number of shareholders who tendered.

We will have to wait to find out.

[garbetklb] 31/5/2023 18:39

I bought extra shares immediately the tender was announced, then tendered my whole holding. I will have 2.34% taken, then the balance of 97.66% of my shares will go into a pot.

The proceeds of the pot will be determined by how may people didn't tender at least 2.34% - and we know the family didn't, nor did cfro; and I suspect a lot of other shareholders.

Overall 411,371 shares were tendered. Let's say 50,000 shares were tendered as 2.34% qualifying - in fact I suspect the figure will be less.. That leaves 361,371 excess shares tendered and Goodwin having 130,000 shares left to buy back.

So, IF spread evenly, they will buy back a further 130,000/361,371 = 36% of shares tendered in excess of each shareholder's guaranteed 2.34% allocation. So the uptake should be around 40%.

In advance I'd guessed at 25%, so I've been left with a smaller shareholding than I wanted - so bought a few more back this morning.

Because of the way the Nominee system works, it won't necessarily be even - but shouldn't be too far off. I'll update with the % allocated across the 3 platforms that our family use once known - Iweb, Interactive Investor, AJ Bell.

[gdjs100] 31/5/2023 18:18

Anyone who elected for more than 2.34% will get at least some more, as we all know the Goodwin family didn't tender, nor did many others.

[cfro] 31/5/2023 16:30

The guaranteed entitlement was only 2.34% with the maximum shares being bought 180k.

If it's therefore over-subscribed which ii has been by 229% then many investors if not all will be scaled back.

I would be interested to hear if any investors did manage to get away more than 2.34%?

[garbetklb] 31/5/2023 14:58

But it wasn't 2.34%. About twice that guaranteed because the family were not participating. And, in reality, somewhere around 40%.

[cfro] 31/5/2023 09:12

As i suspected it was considerably over-subscribed at 229%. Not surprised when such a good price of £48 was offered..

I never bothered tendering any of my shares because 2.34% simply isn't worth it. I have no interest in selling on the contrary i intend to add to my holding in the future if anything..

[redartbmud] 31/5/2023 08:16

JAF

Maybe not at current prices, but there will be a top up demand if and when the share price retreats, for whatever reason.

red

[jaf111] 31/5/2023 07:15

No surprise but tender offer well supported….will be interesting to see how many people now buy back the shares that they tendered…..

[cockerhoop] 30/5/2023 10:55

Yes, results should be announced tomorrow morning.

[arregius] 30/5/2023 07:21

Gdwn tender offer due today

[jaf111] 09/5/2023 16:07

Good point Garbetklb

[garbetklb] 09/5/2023 16:02

And the position MAY be complicated by the fact that most private investors will be holding the shares in a Nominee Account (eg Hargreaves Lansdowns, II, AJ Bell etc). Whether the tender will look through the nominee to the beneficial shareholders, I don't know.
Certainly, in a previous tender situation I was involved in, the % allocated varied v significantly by platform.