K3 Capital Share Discussion Threads

[sharw] 31/1/2023 14:36

A reminder of the timetable:

Scheme Court Hearing 10 February 2023
Last day of dealings in K3 Shares 4.30 p.m. - 6.00 p.m. on 13 February 2023
Suspension of K3 Shares from trading on AIM 7.30 a.m. on 14 February 2023
Effective Date 14 February 2023
Latest date for despatch of cheques and crediting CREST accounts: By 28 February 2023

[w13ken] 31/1/2023 14:20

It's dead Doobz. You can hang on to get 350p rather than 348p but best to move on...

[doobz] 31/1/2023 13:52

Is this fully over now the court decision is made? I still have a third of my holding but is it pointless keeping it, even remote chance of re bid?

[w13ken] 27/1/2023 09:06

That's it then, it's over. Such a shame as K3C were my #1 portfolio holding and there were many good years to come. Sold up so over and out. Maybe see you on the SOS, IQG, ACSO, YU., ZOO, CPC, SEE or GROW boards.
Best of luck to you all.

[johndoe23] 26/1/2023 18:08

Will now sell my remaining holding tomorrow! 50% gain, shouldn't grumble but should have been 75% at least

[robsy2] 26/1/2023 17:36

Ok. Not my preferred option, i voted against but it has been a very profitable holding for me.
The rough ride the market gave this company made them think that life will be so much easier if we work go private rather than staying public.they are probably right.

[johndoe23] 26/1/2023 16:51

That's it then, 87% have voted for the deal

[poacher45] 24/1/2023 08:17

The really bad news this morning that insolvency's could be up by 36% just shows how much this bid undervalues the company.

[poacher45] 11/1/2023 14:25

Water Island Capital have bought some more. The price is saying if Sun want it they will have to pay more.

[tizo100] 11/1/2023 11:31

I voted against the offer this morning.

[rivaldo] 11/1/2023 11:13

Agreed Robsy. I suspect there's a chance that with shareholder resistance there's headroom from the bidder for an improved offer, but it's only a relatively small chance.

[robsy2] 10/1/2023 16:47

I don't think we will see a counter offer from someone else, but as Poacher indicated in an earlier post, we might be able to get an improved offer from the bidder.
If I were the bidder,I'd rather buy it at 350p but would not be desperately unhappy to pay, say 400p . Likewise, the BOD are happy with 350p, but if more than 25% are not,then I imagine they would recommend that the bidder improves the offer to get the deal over the line. This is a snip at 350 or 400p.
So what to do?
I am voting against the current deal. It is easy enough. On the HL platform, you just click onto the " shareholders meetings " section and vote reject.

If the bid fails and the bidder goes away, then that is also a decent result because I see very little to stop the company making progress for years to come and the 350p price target for the BOD to get their growth shares is still attainable by sept this year and should in itself provide sufficient motivation to keep the key people hard at work.

[johndoe23] 10/1/2023 16:06

Thanks. Still can't believe no counter offer here

[johndoe23] 10/1/2023 15:46

Share price has just nudged up?!

[sharw] 06/1/2023 23:28

What we PIs do not know is what conversations may be going on between the bidder and the institutional holders or what is already being gleaned from votes already cast.

An interesting parallel is AVV where an unexciting 3100 plus interim div. was offered. Some institutions were said to be unhappy. On 11/11/22 just 6 days before the Court Meeting the offer was increased to 3225 plus interim div. Not a lot, but enough to get the scheme passed at the adjourned Court Meeting on 25/11.

[w13ken] 06/1/2023 15:02

Interesting angle Poacher. If you're right I tip my hat to you. I will certainly vote against and have retained virtually all of my holding.

[poacher45] 06/1/2023 11:44

Half year report last year was on the 7th Feb. They want to take it private before that date so as not to publish the results or pay a dividend. We need to vote against the resolutions but it is down to the institutions to decide K3's fate. If you look at the RNS'S for Syquant Capitol they have increased there holding by more than a million. I dont think they have done this for a few pennies.

[robsy2] 06/1/2023 11:10

Makes sense Poacher. What do we need to do to get the bidder to pay more?

[poacher45] 06/1/2023 08:31

It does not look like a done deal to me. If it was they would be saying that they had 75% of the votes and all the institutions were supporting them. The facts are that the big institutional holders are not supporting them. They have obviously spent a lot of money buying shares in the market and all the legals and now the documents.
There only way out is to pay a dividend and up the offer they have come too far to pull out now.

[robsy2] 06/1/2023 07:46

This looks like a done deal. Question- Is there any chance of an improved offer?
Any thoughts anyone? If not, it's probably time to take the money and move on to other investments.
342p now and the money in the bank seems better than waiting for 350p and settlement whenever - mid feb , unless we all gang up and vote against the takeover?

[boadicea] 19/12/2022 12:07

Sorry - removed previous comment - wrong thread. Now for the intended one!

I assume the 75% is of the votes cast at the soa court meeting. It seems quite possible this will not be achieved in which case the offer could presumably be increased or they could resort to a conventional takeover (50%). Many nominees will vote as directed by beneficial owners. Mine will be against.

[robsy2] 19/12/2022 10:16

Exactly David.

[davidosh] 18/12/2022 20:25

If the £3.50 is the minimum required to receive bonus shares and they are staying with the company after the buyout it is not surprising they do not want further monies leaving the company to external shareholders.