Imperial Chemical Industries Share Discussion Threads

[donkeystone] 16/1/2008 13:39

FWIW cash arrived today

ttfn

[randomwalker] 09/1/2008 07:36

anyone got their cheque yet?

[jeffian] 28/12/2007 20:48

Ooops! Thanks DF.

[deanforester] 28/12/2007 18:03

He'll have a job selling. They have been suspended since 19th Dec, and will de-list before 7th Jan. The register will be frozen.

[jeffian] 28/12/2007 16:06

In my experience, it usually tends to be close to the 'deadline'. I doubt you'll get it much sooner. If you need cash urgently, you can still sell in the market; you'll only lose a few p of the bid price and your dealing costs.

Regards, Ian

[daveram13] 28/12/2007 14:37

Thanks jeffian. I just hope its within a week of the effective date.

[jeffian] 27/12/2007 23:36

daveram13,

"Expected timetable of principal events -

Effective date..............2 January 2008

Latest date for despatch of cheques..........within 14 days of the Effective Date"

[daveram13] 27/12/2007 17:59

What date will they pay out, as i need to get hold of the cash urgently.

[tourist07] 20/12/2007 20:47

Tada! Divi in the bag and £6.70 coming on the 3rd, so long ICI.

[deanforester] 18/12/2007 17:43

From the scheme of arrangement:

The following dates are subject to change:
Court Hearing Date (to sanction the Scheme) . . 17 December 2007(5)
Last day of dealings in, and for registration of
transfers of, ICI Shares . . . . . . . . . . . . . . . . . 19 December 2007(5)
Scheme Record Time . . . . . . . . . . . . . . . . . . . . 6:00 p.m. on 19 December 2007(5)
Record Date for payment of the second ordinary
interim dividend . . . . . . . . . . . . . . . . . . . . . . 6:00 p.m. on 19 December 2007(5)
Court Hearing Date (to confirm the Reduction of
Capital) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 December 2007(5)
Effective Date . . . . . . . . . . . . . . . . . . . . . . . . . 2 January 2008(5)
Cancellation of listing of ICI Shares . . . . . . . . . . by no later than 8:00 a.m. on 7 January 2008(5)
Latest date for despatch of cheques/issue of
Loan Notes and settlement through CREST . . within 14 days of the Effective Date

From

The board of ICI announces that on 17 December 2007, the Court sanctioned the
Scheme to effect the recommended acquisition of ICI by Akzo Nobel. In order for
the Scheme to become effective in accordance with its terms, the Court must now
confirm the Reduction of Capital at the Court Hearing which is scheduled to take
place on 20 December 2007.

Dealings in ICI Shares on the London Stock Exchange are expected to be suspended
at 5:00 p.m. (London time) on 19 December 2007. It is expected that the Scheme
will become effective on 2 January 2008 and that ICI Shares will cease to be
listed on the Official List and their admission to trading on the London Stock
Exchange will be cancelled at 8:00 a.m. (London time) on 3 January 2008.

Upon completion of the acquisition, holders of ICI Shares will be entitled to
receive 670 pence for each ICI Share held at the Scheme Record Time (6:00 p.m.
(London time) on 19 December 2007) and, to the extent that they are entitled to
receive Loan Notes under the Loan Note Alternative, £1.00 of Loan Notes for each
£1.00 of cash consideration to which they would otherwise be entitled under the
Scheme. Holders of ICI Shares will also receive a second ordinary interim
dividend of 5 pence for each ICI Share held at the Scheme Record Time, in
relation to the period from 1 July 2007 to 31 December 2007, provided that, if
the Effective Date falls prior to 31 December 2007, such dividend will be paid
pro rata by reference to where the Effective Date falls between 1 July 2007 and
31 December 2007.

Elections for Loan Notes have been validly made with respect to 15,640,757 ICI
Shares. Loan Notes for which elections have been made have an aggregate nominal
value of £104,793,072. ICI confirms that this exceeds the minimum threshold of
£20 million in aggregate nominal value of all Loan Notes to be issued as set out
in the Scheme Document.

The Effective Date is expected to be 2 January 2008. Settlement of the cash
consideration and the issue of certificates in respect of the Loan Notes under
the Loan Note Alternative are expected to be effected within 14 days of the
Effective Date

So, not delisted, but trading ceases tomorrow. Delisted on 3rd Jan.

[tourist07] 18/12/2007 16:45

Well, as I understand it, its delisted tomorrow so lets hope they got out ...

[jennyj] 07/12/2007 11:35

No idea but 11.8% is huge on a company this size.

[tourist07] 06/12/2007 13:30

Interesting question Jenny! Only reason to be short would be if competition clearance is problematic. I noticed that EU clearance didn't come through on expected date and no announcements ... any thoughts?

[jennyj] 04/12/2007 13:23

whos short?

[highlander2] 21/11/2007 09:45

Last day of dealing and registration of transfers
is 19th Dec - cancellation of listing is 7th Jan 2008.

[tourist07] 08/11/2007 14:13

Hahaha, I'm with you ... especially as not at 662.5 ... hard to credit!

And anyway, what the hell would I do with the money in this market? 1% plus may be a real market beater over the next few months!

[jeffian] 07/11/2007 20:16

Yes, but the whole upside's less than 1%! Anything goes wrong with the deal and that extra 1p is going to look a bit expensive.

Regards, Ian

(Having said that, I hold some and intend to wait for the offer to conclude)

[tourist07] 07/11/2007 20:01

I hold a lot of these, and my trading plan was always to start selling at £6.65. Don't really see any reason to move from that at the moment. And when we are talking about a max price move of 6p, well 1p is 16.67% of the upside!

[jeffian] 07/11/2007 14:35

What, for 1p on £6.64? Blimey, you fine-tune your investment decisions, T07!

[tourist07] 07/11/2007 12:59

Ahhh, but these are serious Dutchmen ... i'm with you DS, for now at least. If it goes above 665, then I may be tempted.

[donkeystone] 06/11/2007 18:43

Tourist07

Two recent situations

1. cs. to tata now that's a yes

2. Sainsbury and the Qataris now thats a no

FWIW I would stay in

ttfn

[tourist07] 06/11/2007 14:37

ICI vote a cert.

All that's left is regulatory approvals. Europe & US expected this month, Canada few weeks later.

Interesting dilemma .... whether to hold on for the extra 6p to the bid price and a share of the Final Divi. Thoughts anyone?

[56richard] 05/11/2007 14:42

so is that what we're waiting for now tourist?

[tourist07] 05/11/2007 12:53

ICI EGM and Court meeting tomorrow morning.