Mapeley Share Discussion Threads

[gsands] 17/4/2009 12:11

Short positions have a few hours to close and return stock to where they borrowed it from.

I reckon this will surge again in the afternoon when the US opens.


Mapeley Delisting





TIDMMAY

RNS Number : 0845P
Mapeley Limited
18 March 2009

?
Company announcement for immediate release 18 March 2009


Mapeley Limited


PRESS ANNOUNCEMENT ANNOUNCING MAPELEY DELISTING


Mapeley Limited ("Mapeley") announces the results of its General Meeting held
earlier today. The resolution tabled before the meeting in accordance with the
Notice of Extraordinary General Meeting circulated to shareholders on 19
February 2009 was passed. A copy of the Notice is available on Mapeley's website
at www.mapeley.com.
22,483,345 shares were voted in favour of the resolution, representing 99.59 per
cent. of the votes cast for or against the resolution.
It is anticipated that cancellation of admission to trading will take effect
from 8.00 a.m. on 20 April 2009, being 20 business days following the date of
this announcement, and that trading on the London Stock Exchange's main market
for listed securities will cease from the close of business on 19 April 2009.
In accordance with the UK Listing Authority rules, a copy of the resolution will
shortly be available for inspection at the Financial Services Authority's
Document Viewing Facility which is situated at: the Financial Services
Authority, 25 The North Colonnade, Canary Wharf, London E14 5HS (telephone 020
7066 1000).
Enquiries:


International Administration (Guernsey) Limited
Company Administrator
Attn: Mark Woodall
Tel: [phone]


- ends -

This information is provided by RNS
The company news service from the London Stock Exchange
END

NORCKFKQPBKDNND

[gsands] 17/4/2009 11:00

What does L2 look like on this?

[gsands] 17/4/2009 10:46

Looks like a short seller is cornered in this. The news of the delisting probably came as quite a shock!

[kenatbabken] 17/4/2009 10:18

Yes it is and I,m out,One hell of a spike in the last few days so I got out at
a very good profit as my average was £1.25

[chc15] 17/4/2009 10:09

dont get this, is this the last day to sell?

[gsands] 16/4/2009 13:24

Huge volume. 200p looks like a given:

[orchestralis] 15/4/2009 19:30

People buying shares before it delists on Friday!

[gsands] 15/4/2009 18:32

Big volume. Maybe a large short position is having to cover before the delisting?

[nw33] 15/4/2009 16:44

Does anybody know the reason for this big increase?

[orchestralis] 15/4/2009 10:39

Property companies appear to be on the move, shame this is delisting!

[dope007] 03/4/2009 12:00

Gsands open shorts can close after delisting by offering holders with dead stock a price for it

[rochdale] 03/4/2009 11:58

i am keeping mine in the hope that I get a divi and some value is restored over time

have written the investment off realistically

another lesson learnt - do not try and catch a falling knife irrespective of what seems like a nice yield!

[kenatbabken] 03/4/2009 11:45

Well the Directors see value even though its being delisted

[gsands] 22/3/2009 22:25

Concern about the quality of the loan book containing Mapeley's Gamma loan:

[hightech] 22/3/2009 00:09

What level is going to be reasonable?

[kenatbabken] 20/3/2009 13:37

Another thing to ponder is would those shareholders and management who paid
86p for their shares be prepared to sell them to Fortress for 86p or less Iknow
I would,nt,And as they need over 90% of shares to make any takeover unconditional they are unlikely to take it over without a decent offer being
made.
With Mapeley saving over £8m in interest charges (equal to 31p per share) I can
see dividends being paid as Fortress will need to see some return on the latest
investment,If its around 30/35p just before delisting i,ll buy some more.

[gsands] 20/3/2009 12:43

I seem to remember that there was quite a large short position outstanding in this stock.

Presumably, now that the stock is to be delisted, this short will have to be covered by buying back shares in the open market.

Unless of course, this was a naked short position - which of course is illegal.

[kenatbabken] 20/3/2009 12:35

The lowest price Fortress can offer for the remaining shares would be the price
that the loan was converted at which was 86p,Don,t forget that there were shareholders and management besides from Fortress who took up the converted loan.Obviously people can sell in the market at the current price but what sometimes happens after delisting is the company offers a matched trade service
where buyers are matched with sellers at an agreed price,Whether they,ll offer
that I don,t know.Shareholders will continue to have the same rights as Fortress ie if they receive dividends then so will shareholders

[hightech] 20/3/2009 12:21

I think Fortress has to pay for the remaining shares they don't own at a reasonable price, e.g. avergae of the last month closing prices before delisted.

They may want to force the prices lower to get it cheaper, but they cannot reduce their holding. They can certainly sell now and buy later, but it is risky for them and may cost them more if someone collect their shares and don't sell in the last few days.

Is that right?

[gsands] 20/3/2009 11:21

What worries me most is that Fortress, as majority shareholder by a very large extent, will be able to use a mechanism to force remaining shareholders to sell their shares to them at a paltry price.

The only thing which might protect us from this is the fact that Mapeley staff and directors are all shareholders in the company.

Fortress would not (I assume) not want to do anything to allienate the workforce.

Does anyone here have any knowledge or experience of this?

[gsands] 20/3/2009 11:18

Ask the company:

[e-mail]

[gsands] 20/3/2009 11:12

The only thing which changes will be your ability to sell you shares.

All other shareholder rights have to be upheld.

[rochdale] 20/3/2009 10:35

anyone got any idea what the implications are if don't sell before delisting day?

apart from hard to sell shares in the company going forward?

[hightech] 20/3/2009 09:59

Use limit buy if you want to buy.
You can get it so cheap today.

[hightech] 20/3/2009 09:54

They want to private the company before recovery starts.

They want to rush before the weather gets better. At this stage, they can play with the market.

The situation will change as cash injections take effect and we get closer to preparation for Olym.. 2012.