Re the timetable RNS-ed today, does anyone know the actual disposal date for CGT purposes? It looks as if it will fall within the 2024/25 tax year, but only just and there is the potential for 'slippage' with a 'long-stop' date of next June. (I do appreciate that one could simply sell in the market to establish a disposal date). |
I presume you know the identity of the poster jsatchell :) |
jsatchell, Thank you for your acknowledgement of a 'disorderly market' and I can understand your desire to 'point the finger' elsewhere. It is not for me to assess or apportion culpability or determine if any criminal offences were committed. That will be in the hands of the FCA who will be able to investigate fully with all relevant parties all the events that unfolded last Thursday and all the share dealings that took place. |
I suspect most shareholders will be far less concerned with price movements on the day - it was always going to revert to the bid price once any uncertainty about the outcome was removed by the Court hearing - and rather more concerned that the perceived potential in which they invested was let go for a far-from-premium price and, in many cases, much less than had been paid not that long ago. |
Networker, please reread my response. I explained that the Registrar had to provide the final reconciled count of the votes before we could RNS it. I agree that it took far too long and undoubtedly there was a disorderly market. However for you to assert that the LTG board was behaving without integrity, when all we were doing was constantly chasing the Registrar for the numbers, is inappropriate. I look forward to the FCA investigating why it took so long for Computershare to count a few votes lodged at the meeting alongside all the previous lodged proxy votes. |
Networker, I don't usually respond to comments however you questioning the Board's integrity is ill informed and ignorant. Presumably you're aware that the entire takeover process is highly regulated, including requiring the company's Registrar to attend the EGM to independently count the votes. The RNS was released within minutes of the Registrar finally providing an accurate count of the votes. May I politely suggest you ascertain the facts before questioning people's integrity. |
The disorderly market yesterday (36 million shares traded and a 7 per cent price increase) is a sad reflection on the integrity of the LTG board and the failure of The Stock Exchange to require timely public announcements of price sensitive information. |
It is a traditional investment model to invest in shares when you are young and move to securities as you age , and I think the move to tracker funds is a good plan if you want to mitigate your risks but accept no big winners. I suspect I would have done better in last 35yrs of investment if I had put it all into trackers rather than individual shares , many of which have tanked. |
I was fortunate enough to take some profit when the share price was much higher and so escape with a reasonable profit from the scheme. Nevertheless, I'm still sorry to see LTG go and thank all of the stalwarts on this thread for their views over the years. Andrew Brode is a good entrepreneur but I'm afraid that his influence has waned as he's progressed into his 80s. For a whole variety of reasons, investing in small cap UK stocks has become a bit of a problem in recent years and I must admit that I've been trending towards putting my money into passive tracker funds - particularly those with a US index and dollar flavour. Much less fun but more remunerative! |
Quite a touch and go result. You can see why they were edgy. I was intrigued to see that only 15 shareholders by number voted against (of which I was one). I wonder if they counted nominee accounts (eg HL) as one. Anyway, it is what it is. I'm disappointed but one just has to move on. |
An aftermarket yes announcement I see. So 100p it is then....
Shame we paid 160p 4 yrs ago, but that is one of the gambles of buying shares. |
You would think yet no announcement yet! Wasn't the scheme arrangement meeting rescheduled until today? A bit of poor form to not inform the market if so.
Just curious as an ex-holder, apologies if I've got this wrong due to any laziness! |
Announcement must be imminent following on from today's meetings. Price action post 10.30am implies someone knows something. |
Let's hope the NED's are looking for a new Satchel - looks like the current one might not last till half term! |
Another RNS this morning. Looking a bit desperate. |
Aye, they're not confident. Looks as if it's going to the wire. |
The poker game continues with the after hours 'No increased bid' statement from General Atlantic. How will the major institutional holders now react? Will they accept 100p cash per share? Will a counter-bidder now make an appearance? |
Correct but they are only at 27.7% irrevocable for. That obviously doesn't mean the rest will vote against it. Normally if irrevocables get to around 50% the deal passes.
It's 85% of votes cast at the meeting not 75% of all votes obviously. |
My understanding is that if Bidco gets over 75% and the Court sanctions the Scheme of Arrangement, then all shareholders are bound by the offer whether they voted for or against it. |
Not sure but Board own low/mid 20 %s. Bear in mind it's 75% of those who vote. |
Thanks, what % are they at irrevocable acceptance? |
They cannot walk away if 75% accept. They were committed when they announced a formal bid. |
Does anyone know if bidder can walk after getting this far or is it just pending getting 75% of votes now? |
Timing of the announcement was rather bizarre and doesn't reflect well on the management and their credibility. Much will depend on what the two largest institutional shareholders now decide to do. A high stakes poker game between them and General Atlantic. Who will blink first? |
Anyone changed their mind? |
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