Gtl Resources Share Discussion Threads

[caveat_emptor] 01/11/2011 08:53

Like I said....
If you have the cash..... you have the patience...

[clunes100] 01/11/2011 08:44

You could follow the money but I assume that you would then be invested in the a much larger investment vehicle, so even if GTL was a roaring success, investors would only partially benefit unless the rest of the portfolio was also a roaring success. In the meantime, I assume there is no reason why the company and other major shareholders can't pick up any shares sub £1, effectively at a discount.

[caveat_emptor] 01/11/2011 08:41

These fund managers know that the longer they wait,
the more people will suss out what is going on.....

[caveat_emptor] 01/11/2011 08:22

How can it fail?

It has been designed to succeed...it is only the 51% who are limiting the sale
until April.

[clunes100] 01/11/2011 00:14

I am afraid that I left today in profit but dissappointed. This seems to be a done deal and until this deal breaks down (unlikely - it is too good for the predator to give up easily) the shares are capped at £1. Even if someone else shows interest, if the predator has non renegageable committments from the board and 51% of the shares it would seem to be sown up. Unless they cannot come up with the cash, but the deal is so good it is probably bankable and the £32m only represents a single figure % of the parent invest ment assets.

I have swapped into more VOG and a few RRR and AEX, one gas producer in the short term, one small gas producer with prospects and a gold miner with prospects - forgive the pun.

If this GTL takeover fails, I'll be back.

Good luck

[aceuk] 31/10/2011 20:07

As far as I can see you(we) haven't got to do anything for the moment - with 51% effectively in the bag there is a very strong likelihood SIVA (or whatever it's called) will take control BUT the RNS does say something about the possibility of the whole thing lapsing come April. That's six months at the end of which you get a quid or keep your shares in a listed entity.

I will wait.

[fk2] 31/10/2011 19:03

Caveat, does the email refer to Praire Gold ?

[caveat_emptor] 31/10/2011 18:34

See copy letter below.

[ljsquash] 31/10/2011 18:15

Yes £1 cash unless another bid.
Can take in private shares but only if there is sufficient uptake to make worthwhile. (Gambling on what will be a private company looking to make a profit and much less access to information)
A meeting explining any choices will have to occur in fairly quick order due to set dates given (I haven't read in detail).

I consider this a total let down by the BOD and wonder if they have been kept on or getting a remuneration package for their capitulation?
I have tried to phone today but only got Buchanan and no returned call even from them!

Just hope this inspires a counter bid from a real ethanol company.

AIMO and my view etc

[caveat_emptor] 31/10/2011 17:52

Is there to be an egm?

[mesquida] 31/10/2011 15:53

SPACEPARALLAX - of course an unquoted vehicle will not suit everybody, but I have seen this happen before and it can be very profitable. In the case of REDBUS going private and then coming back as TELECITY just one year later my investment multiplied five times over and above the cash value of the original bid. But obviously I was completely in the dark for one year! Question is, why do you think Christopher Mills is taking it off market, and do you trust him to look after the interests of minority shareholders during the time that it is off the market. Personally I suspect that he will tidy it up a bit before engineering a trade sale at a substantial premium to today´s valuation. But as I keep saying, being in an unquoted vehicle will not suit everybody.

[mesquida] 31/10/2011 15:44

Well done cerrito - you finally got there. Now try looking at the history of DOWDING&MILLS.

[cerrito] 31/10/2011 13:25

Googled Christopher Mills and sees he runs North Atlantic Value

[cerrito] 31/10/2011 13:20

I an assuming that SINAV have been in discussions with Henderson/Gartmore about all their large illiquid holdings and reached agreement pretty quickly and having got North Atlantic Value on side it was difficult for the Board to make a heroic stand, given the atomized nature of the remaining 50% shareholding.

[spaceparallax] 31/10/2011 12:02

Mesq,

The problem with staying aboard is the problem of liquidity.

[wrights] 31/10/2011 11:30

I have held for a number of years, I have a rather upsetting average buy of £2.30. Been waiting for something exciting to happen with these, looks like it finally has. OK silly question time, what is the general opinion of what will happen to the share price when this has all gone through(lack trading knowledge hence my nice big buy average)??

[ljsquash] 31/10/2011 10:29

I paid £2 + for some of my first shares here agree the agreement by the board is strange unless they are all retained?
Only hope would appear another offer - here's hoping?

[mesquida] 31/10/2011 09:53

But you have the option to stay aboard and enjoy the ride - for sure Christopher Mills has some game plan - look what happened at DOWNING&MILLS.

[spaceparallax] 31/10/2011 09:11

I'm not surprised by the bid but like others am surprised that Management haven't held out for a lot more. I'm getting a bit hacked off with people snapping up my favourite holdings.

[puffintickler] 31/10/2011 09:10

Just to be clear I own this share and at 100p will be some 30% in profit. But I did not have only +30% in mind when I bought.

[puffintickler] 31/10/2011 09:07

Just saw this, I am very surprised that management would accept an offer that undervalues the company by some 50%.

The price negotiated is pathetic. It is just over one half of the net asset value excluding goodwill. No wonder SINAV reckons it is a good deal.

I reckon it is worth nearer 1.40, maybe more but in the current climate one cannot expect any offer to be full value.

Why do the directors recommend the offer? A premium to the recent share price is meaningless as the current share price is way too low weighed down by the poor margins of a year ago. Compared to current cash generation the offer is too low.

[mesquida] 31/10/2011 09:00

No - it is pretty straightforward - the major shareholder feels that the market is consistently undervaluing his investment so he is taking it private. If you want to stay along for the ride then that option is open to you. How is that a bad smell?

[p@] 31/10/2011 08:45

Something smells bad about this.

[mesquida] 31/10/2011 08:43

Cerrito - SINAV is a vehicle established solely to facilitate this deal - therefore it is no surprise that you have never have heard of them. But presumably you have heard of Christopher Mills, and perhaps you might be able to recall the history of DOWDING&MILLS. Clearly unquoted vehicles do not suit everybody, but there are often substantial rewards to be had away from the very public glare of the stock market!