Hasgrove Share Discussion Threads

[bookbroker] 07/3/2014 07:28

Seems only Cestnous is aware of it, even III has not admitted to it!

[bookbroker] 07/3/2014 07:27

Believe this offer is a red herring, co. has stated they have no knowledge of any tender offer for shares, has been clarified by the registrar.

[bookbroker] 06/3/2014 17:01

I fully understand what you say Mick.., however this co. has made a further tender offer to acquire remaining shareholders holdings at a price of around 55p a share, this offer has been sent to certain broking firms and it appears not others, at least that is the case as I write, III being one of them that has received documents with the offer, there are other holders who have a right to tender their shares in the same manner, Capita say they were not aware of this offer, which is somewhat odd as it is the registrar who would normally be responsible for despatching these documents, hence other broking firms not so far receiving them.

[mickharkins1] 06/3/2014 13:09

bookbroker - I was left with shares after a screw-up from my broker and managed to sell them through James Sharp via a matched offer....I forget now how much (I would guess about 50p).

[bookbroker] 06/3/2014 13:04

Anyone else here hold shares in HGV. that find themselves in a similar position?

[bookbroker] 06/3/2014 11:51

III say that Hasgrove notified them directly, by-passing the registrar, not sure about the legality of that as far as FSA, hey ho, will wait for Capita to contact me!

[bookbroker] 06/3/2014 11:31

Bizarre, Capita Regitrars not aware of the offer, neither Barclays!

[cestnous] 06/3/2014 10:21

Bookbroker.

It's a corporate action so you should be able to trade through any broker.

"This is to let you know you have a Corporate Action on one of your holdings.

Security: HASGROVE ORD 10P
Description: Hasgrove Limited
ISIN: GB00B1FRDB45

Tender Offer Terms

You may tender some or all of your shares at a tender price of 55 pence per
share.

The tender offer is subject to scale-back.

Actions required by you

As this is a voluntary event, we require an instruction from you.

Should you wish to tender your shares, please provide us with your
instruction by 15:00 on 10 March 2014. Please specify the number of shares
you wish to tender.

If you do not wish to participate or we do not receive an instruction from you
by 15:00 on 10 March 2014, we will take no action on your behalf.

You can notify us of your instruction by calling us between 7.45am 9pm
Monday to Friday. Alternatively, you can send us a secure message. If you
chose the secure message option, please select Corporate Action from the
drop down listing.

Voluntary Corporate Action- Tender offer overview:

This is typically a Repayment of Capital by the Company. Shareholders are
given the option to sell some or all of their holding back to the Company at a
fixed price, or within a range of prices. This enables the Company to return
excess cash back to shareholders."

[bookbroker] 06/3/2014 10:19

Have heard that there has been a tender offer for the co.!

[bookbroker] 06/3/2014 10:08

I only know of a Manchester broking firm who deal in a few unlisted securities called James E Sharp(www.jamesesharp.co.uk), they were designated by Hasgrove to be the authorised dealer in the remaining securities, spoke to them at the end of January, they were a bit vague as to when they would accept matched bargains, but the individual suggested that they may start to deal with them around the March/April time onwards, do occasionally look at their site to see if they have added Hasgrove to the list of cos. that they offer matched bargains trades, last time a few weeks ago the co. had not been added to the list, but will have another look today.

[cestnous] 06/3/2014 09:35

iii have contacted me saying that I can tender my shares for sale with them at 55p, as can anyone left with stock from the devious actions referred to above.

[cornishman33] 06/8/2013 15:50

Thanks 100Laila for helping to reverse TDW's initial decision. I have to admit I originally phoned them to express my dismay and surprise that the tender offer had not been met fully, but I don't have the doggedness that you clearly have.

[cestnous] 03/8/2013 09:17

Thanks 100Laila. I'll keep pushing.

[100laila] 02/8/2013 18:31

Hi Cestnous

I had the same issue with TD as Cornishman33. I wrote several letters of complaint and got the issue escalated. I pointed out that the error that had been made by their corporate actions department in how the tender options had been presented. I also embarrassed them by explaining how their competitor, Hargreaves Lansdown, had not made this error etc. Note their initial reply tried to fob me off but eventually their compliance team stepped in. They explained they would be correcting the issue for all affected customers.

So don't give up on this and keep escalating.

Worst case contact Hasgrove to explore the option of getting them to buy them back.

[bookbroker] 02/8/2013 15:03

News to me, Barclays informed me that due to the scale-back the offer would be for around the above mentioned of approx. 65%, not happy with that and their response that there was little that could be done, feel that P.I's. have been shafted by the the board for accepting an offer that was not in the interests of shareholders, we've all lost money, but intrigued that cornishman receiving payment for remaining shares, anyone else in that situation?

[cornishman33] 02/8/2013 11:03

Chrisdonohue

I was in exactly the same position as you and was disappointed that the net result was about break even and not the 35% gain I was expecting. However last week TD Waterhouse contacted me and asked if I wanted to tender the remainder of the shares, so I obviously said yes. This morning I have received payment for the remaining shares. I assume you have had the same result. I do not know what caused this change of heart, and wonder if other brokers have done the same.

[cestnous] 16/7/2013 15:22

Chris

Interactive investor have done exactly the same with me and I have demanded payment for the lot. What rights do I have in the matter and do they have to pay?

Edit;
They have no w contacted me and completely refuse to do anything about it even though they acknowledged that I had instructed them to tender all my shares and they confirmed this. Next question; how does one get rid of delisted shares?

[chrisdonohue] 16/7/2013 14:05

Having confirmed that I would be treated as a Small Shareholder and receive the full amount at 82p, TD Direct Investing (previously T D Waterhouse) have now given me 64.88% leaving a 35.12% holding in unquoted shares. If you are in the same position, insist (as I have done) on receiving the full amount.

[wanttowin] 10/7/2013 23:55

I,m getting the full 82p with the Share Centre

[shanklin] 09/7/2013 09:06

HL stated that the operation of the tender for brokers with nominee accounts is at the discretion of the company initiating the tender. In this case, HGV gave permission for each nominee account to be treated as a separate shareholder.

[cockneyrebel] 08/7/2013 10:35

Probably saves money doing it that way that the brokers pocket no doubt - but that's a screw up imo.

CR

[madmix] 08/7/2013 10:31

As I mentioned elsewhere, Sippdeal also tendered "en bloc" unfortunately.

[cockneyrebel] 08/7/2013 10:22

All mine were sold, I did lob a chunk rather than take the tender tho as I thought I could make more in the meantime in this mkt.

Sounds pretty inept if a broker sold them en-block when there was a limit on the percentage that were going to be accepted in the tender.

I'd kick up a stink imo.

CR

[chester] 08/7/2013 09:49

After making a 2nd phone call and quite a bit of 'pushing' by me, they are now saying that my full holding was tendered at 82p.