Independent News & Media Share Discussion Threads

[caveat_emptor] 15/5/2012 08:54

I will be interested Leslie, in seeing how you spin
against the certainty that the votes in favour of
DOB's position are acting in concert.

Keep trawling and you'll find something to counter
that argument.

Meanwhile, people would do well to reflect that half of the
Jamaican budget of $612 billion goes first to service debt.

Unless the people to whom that debt is owed are "BURNED" all
over the GLOBE the world will go bust!!!

The world will go bust anyway, without "burning" anyone....so
the Greeks may as well just get on with it, and start this global
tsunami.


Even the ordinary people of America will have to stand up to
the wealth owners who hold millions of their fellow countrymen
in chains will have to be "burned"

Really very simple!!!

PS: Has the English dictionary accepted this new meaning of the
verb "to burn"..............?

[lbo] 14/5/2012 16:21

Investec saw no sign of a takeover and sold out and could only find one buyer. DOB could have bid 35c for the whole company (a huge premium) when the shareprice was 20c yet they did not! Instead he bid for a few more shares to gain control ahead of the AGM yet not have to bid. As was in two articles linked earlier:

"The South African bank had been seeking to sell down its position at prices as low as 25c in the last six weeks but was unable to find a buyer"

"Mr O'Brien also said he had "no intention" of making a bid for INM as he had already lost €500m-plus on his investment in the company"

[lbo] 14/5/2012 16:17

70c not a chance! At most worth 35c on an EV/EBITA of 8 adjusting for APN! No wonder Investec could find no buyer except DOB for the shares





Its assets came to €573.7m (this is with the APN shares valued in the INM balance sheet at A$1.68 a share and on the market they are half that) so in reality assets only max €473.7m
Its liabilities to €596.5m
The company therefore had at least €122.8m of net liabilities and is balance sheet insolvent.

[dontlisten] 14/5/2012 13:28

Crazy goings on here.. This share is currently trading at under 4p in relation to the pre consolidation price.. A massive amount of shareholders bought a lot higher than 10p a share before the consolidation why would they take a 70c a share offer. What percentage of holders would have to sell if a takeover was made

[sleepy] 13/5/2012 19:13

No and the Irish Takeover Panel
Yes if he is found to be acting in concert with another shareholder(s) and together they hold 30% or more of the equity. He currently has over 29%

[caveat_emptor] 13/5/2012 14:56

If he emerges from the AGM supported clearly by others,
are two or more parties acting in CONCERT?

In which case whose responsibility is it to say so, and
must he be called on to make a bid?

[lbo] 13/5/2012 12:19

According to documents, Mr O'Brien stated that he would "definitely" vote against the re-election of Mr O'Reilly and other board members at the crunch INM annual general meeting.

Mr O'Brien also said he had "no intention" of making a bid for INM as he had already lost €500m-plus on his investment in the company.

[caveat_emptor] 11/5/2012 20:12

Someone has to be holding those 5m shares....

[sleepy] 11/5/2012 19:06

Are there any similarities between Denis O'Brien's involvement in INM and his involvement with mobile phones in Ireland?

[caveat_emptor] 11/5/2012 17:53

Pioneer asset management just sold 5m shares and reduced
down to 3.22%

[caveat_emptor] 10/5/2012 06:39

Digicel complained that the raid had done "reputational damage", both in Jamaica and internationally.

[lbo] 08/5/2012 13:59

O'Brien built up his new stake by acquiring Investec's remaining shares in INM. The South African bank had been seeking to sell down its position at prices as low as 25c in the last six weeks but was unable to find a buyer.

[caveat_emptor] 08/5/2012 07:19

In fairness I think the Irish Times version was late with the news
that DIGICELL were ready for the police and taxmen when they
arrived...as the above report says..........

"The raid was aborted after Digicel produced a court order barring the searching of its database."

[caveat_emptor] 08/5/2012 07:17

Looks like DOB will be far too busy to think about INM today,
or amybe even at all!!!

News
Integrity group troubled by Digicel's threats

2012-05-07 08:47:54 | with audio | (0 Comments)

Digicel building at Knutsford Boulevard, New Kingston- file photo.
Digicel building at Knutsford Boulevard, New Kingston- file photo.
jerome Reynolds, Gleaner Writer

The National Integrity Action Limited is raising concern about comments by telecommunication company Digicel in light of a dispute with the tax authorities.

Digicel has issued a statement saying it is prepared to go after those involved – directly or indirectly – in Friday's attempted tax raid at its head offices.

However, the executive director of the National Integrity Action Limited, Professor Trevor Munroe, said Digicel's comments are worrying and may have grave implications.

He is giving full backing to Tax Administration Jamaica (TAJ) for using all lawful means to reduce tax evasion particularly among large taxpayers.

The National Integrity Action Limited is urging the TAJ not to be intimidated by threats of any kind, whether from corporate or political sources.

The raid was carried out by Tax Administration Jamaica with support from the police.

The TAJ said it was forced to obtain a court order and conduct the raid, after Digicel failed to provide all relevant information it requested regarding General Consumption Tax paid by its customers.

However, Digicel has expressed displeasure at the raid and has maintained that it has been supplying the required information to the tax officials over the past months.

The raid was aborted after Digicel produced a court order barring the searching of its database.

[caveat_emptor] 06/5/2012 09:51

Will we see a white sort of a Knight.....

[caveat_emptor] 06/5/2012 05:28

My bets are that any bid will involve the
INDO being broken up!!!

[caveat_emptor] 05/5/2012 19:44

The INDO had this to say today...

"An investor can acquire up to 29.9pc of a company quoted on the Irish stock exchange.

If an investor passes this threshold, he must make an offer for the remaining shares, unless he receives a waiver from the Irish Takeover Panel."

[dontlisten] 05/5/2012 17:12

The majority of shareholders i would think bought before consolidation for a lot more than 10c a share would they be willing to sell out at a loss? What percentage of shareholders does he need to get the full buy out through? I assume the oreillys wouldnt take 70c or 10c pre consoliation for their shares.. I think he would be getting a steal for 70c a share or 70c for seven shares pre consolidation

[caveat_emptor] 05/5/2012 15:43

Current Davy target of 70 cents a share.
I think?

[dontlisten] 05/5/2012 08:05

Hi guys holder since early 2010 before consolidation.. If a takeover is made what we hoping for in terms of price per share. I would.think a large majority of holders have held these shares for years and years and they will not accept a low price also early last year broker reports were target price circa €1.30

[caveat_emptor] 05/5/2012 07:56

Looks like 29.9% has been passed.............

[caveat_emptor] 04/5/2012 18:08

Reached 29.9% (quote Independent News)
and the market still is not convinced he will make his bid.

[hermana3] 04/5/2012 15:17

Charlie,'Jugs' buckley would be tub's choice in Chair