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[stegrego] 07/2/2013 08:27

Jojo update...


GMA now 0.18...

[dontshootthemessenger] 07/2/2013 08:10

It's quite funny how it is obviously Jojo_jo behind that NotoHCLOffer username but he won't admit it.

Of course his credibility and integrity is under question already so why would anyone trust him to lead a shareholder rights group ?

[graham1ty] 07/2/2013 08:08

A decent broker would have a bid approach response sitting on their machine 24/7. It is just a holding statement, non committal etc

[dusseldorf] 07/2/2013 07:55

Graham1TY - There is probably alot to work through and perhaps the concert party didn't respond until 6pm. It's not easy wording an RNS which has various legal implications within a short period - there will probably be an RNS later today. I'm watching with a finger on the buy button...

[graham1ty] 07/2/2013 07:52

Why is there no holding announcement from the HLO Board straight away ?? Should have responded saying, wait and see, hear from us later, do nothing now....

[stegrego] 06/2/2013 18:03

Jojo,

You are a bloody liability IMO with your advice.... Also you are full of sh........


GMA RESOURCES - GMA
JoJo_Jo - 05 Feb 2013 - 10:31:19 - 2061 of 2183

Looks like probably hitting the 1p mark by close, then higher again tomorrow.

The fact is this Kazak miner could in reality end up being worth 10 x this somewhat arbitrary �40m figure, so the value here for GMA holders is very substantial indeed.

IMPO/DYOR
Jo


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GMA
JoJo_Jo - 05 Feb 2013 - 10:02:58 - 2058 of 2183
Held this pre-suspension (only paid 0.084p originally, near the bottom). Wrote it off. Now this! Added a few around the 0.14p mark. Looks like a no-brainer.

This looks like topping the 1p mark today/tomorrow. If the deal is worth �40m then we should settle between 1.75p - 2.5p, possibly quite a bit higher. Should get there within a day or two. Happy to wait/hold for 2.5p or higher.
IMPO/DYOR
Jo

.....................................

GMA
JoJo_Jo - 05 Feb 2013 - 15:40:44 - 2101 of 2183
It's been very strong, but if it doesn't pull back today, there's a good chance it will tomorrow.
Got out around 0.47p and had a great day, but think I'd like to see the dust settle now.
Good luck everyone.
IMPO/DYOR
Jo
................................


So it's going to 1p or 2 to 3p but then you sell out at 0.47p.
And price is now......
Oh no, it's 0.25p!!

Not sure how you call yourself an investor, you are a mere gambler. A fantasist. A bloody liability to have on any BB. You are worse than shorters x10.

[davidosh] 06/2/2013 17:57

If one has a shareholding that was once worth £100k and a top quality Bentley but is now worth less than a clapped out Datsun Cherry that may not get through the MOT surely being offered £50 more is neither here nor there ! The damage has been done.

It must be preferable to either stick with it until a shiny new car appears from the car wash or someone offers to put the second hand car salesperson to task for dressing up that Cherry ! Not to mention leaving their Abba collection in the CD case to double the value !!

[dusseldorf] 06/2/2013 17:26

dontshootthemessenger - The Creditor (bank) is not in control

The group holding all the cards is the concert party, they are the ones controlling what happens next, and they are the ones with the capital to turn the company around and a controlling vote - no concert party, no company, no bank repayment - SPLAT!

The bank simply wants the co. to keep on top of repayments or receive paydown to an acceptable level until they can. I've no doubt the concert party could wipe off completely the bank debt should they so choose but it's useful to offset repayment costs against tax liability

[dontshootthemessenger] 06/2/2013 17:12

And then they will have full control of the Liabilities.

Yeah good one Einstein.

The Creditors are in control here not shareholders.

[dusseldorf] 06/2/2013 17:10

One way to look at the cost of buying the outstanding co. is by multiplying the shares that the concert party do not own, by a potential offer price. I'm not saying it will be higher than indicated 0.54 minimmum, just pointing out compared to the £40m they sunk at 10p, it's peanuts

Price/share Cost
£0.005.....£1,165,725
£0.006.....£1,398,870
£0.007.....£1,632,015
£0.008.....£1,865,159
£0.009.....£2,098,304
£0.01......£2,331,449
£0.011.....£2,564,594
£0.012.....£2,797,739
£0.013.....£3,030,884
£0.014.....£3,264,029
£0.015.....£3,497,174

If I were concert party I would want to control the company outright, seems like whatever the offer, it's a small price to pay for full control of the business and taking it private.

[dontshootthemessenger] 06/2/2013 16:51

Hope jojo_jo didn't give the day job filing / gossiping with the other secretaries etc

[dusseldorf] 06/2/2013 15:53

Interesting to watch, I think if there is a clear sign of trading momentum I might buy in for the ride - let's see what the RNS today/tomorrow says. Likely an extention of a potential offer allowing sufficient time for an invitation for alternatives, or simply an offer with recommendation of the management.

I'm not sure how it works though if someone else wanted to bid and assume the debt - can the concert party effectively block other offers from being accepted given their sizable holding( if it means they don't get a return on their original investment)?

[begorrah88] 06/2/2013 14:35

You've got to feel sorry for the dead cat.

Not only did it not bounce at all when it hit the deck, it has now been squashed flat by the steamroller that was the RNS.

[jojo_jo] 06/2/2013 14:01

Stegrero,
I haven't heard back from the director after asking permission. If you can get a PM to me through ADVFN I'll send you it that way, although today's RNS makes a lot of it redundant. She certainly didn't give me any clue as to the 'offer' by the two main stakeholders notified via today's RNS.
Jo

[stegrego] 06/2/2013 12:17

1st RNS
The Board is exploring a number of options to safeguard the strategy of the business, including ways in which to further reduce the Group's cost base and improve its profitability. The Board remains convinced that the Company is pursuing the correct strategy and is considering all options for the best way forward and the options regarding access to additional capital for the Company. In this regard the Board has approached its two substantial shareholders to ascertain their appetite to provide additional capital to the Company and, while these discussions are on-going, they have indicated that they are supportive of the business going forward. However, no guarantee can be provided until the Company is able to ascertain the quantum of the fundraising needed and any terms on which such fundraising could be undertaken. A further update will be made in due course.

2nd RNS
The Board today announces that, in connection with its seeking an injection of further capital into the Company, it has received an indicative joint proposal ("Indicative Proposal") from Toscafund and ACE to acquire all the outstanding ordinary shares of the Company not already owned by them and their concert parties at a price in cash of at least 0.54 pence per share, being the closing market price of an HCL share on 5 February 2013. Parties acting in concert with Toscafund, ACE and parties acting in concert with ACE own, in aggregate, approximately 72.5 per cent. of the issued share capital of the Company. Subject to reaching agreement with the Company and the lending banks, Toscafund and ACE have indicated their joint intention to inject significant capital into the business following successful completion of an offer.

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My interpretation of the above to snippets from the RNS would be that they have held talks, are aware of the financial position and how much money is needed.

To then come in with such a proposal says to me that Tosca are totally holding all the aces here and it's on a 'like it or lump it' basis. Tosca have already taken very large risk and losses based on managements and directors (incorrect) forecasts, so are no doubt wanting to recoup what they can, but on very punitive terms.

The directors etc are probably just concerned about keeping their jobs. A few assurances within the negotiations would no doubt smooth the passage.

Jojo,

Still not seen hide nor hair of the wonderful email you got from the director.....

[jojo_jo] 06/2/2013 11:52

Yes OK, I did say small.
Jo

[jojo_jo] 06/2/2013 11:32

I think they'll just wait for now. They do hold a few shares between them, so have a small vested interest.
I expect at least one rival offer to come in.
We'll just have to wait and see.
IMPO/DYOR/NAI
Jo

[graham1ty] 06/2/2013 11:27

That may be their game to say this is only game in town. The banks will not blink ( they just want that further cash injection). Will the non-execs stand up for shareholders ? Will they demand more ? or if it is a lousy deal, will they look seriously at every alternative ?

[jojo_jo] 06/2/2013 11:27

Graham,
Agree not yet a formal 'offer'. Just put in to stabilise the price for now, and announced by the BOD to both advise the market and put a big 'FOR SALE' hoarding up. So not all lost yet for those under water. Best way forward for long-termers would be an all-share takeover at a substantially higher price by another listed company, or an improvement in trading leading to a withdrawal of the proposed offer, and a 'normalising' (re-rating) of the share price at a higher level reflecting said improvement in trading.

It will have the effect of putting a line under the price, while allowing for an uplift in the event rival interest materialises or trading improves sufficiently to prompt revision or wiithdrawal of the offer.

IMPO/DYOR/NAI
Jo

[stegrego] 06/2/2013 11:22

What happens then if Tosca say fek off? Banks wouldn't cough up the money needed or at least I doubt it