Mining Minerals & Metals Share Discussion Threads

[1waving] 13/8/2009 12:01

day_dave -- that sounds so wrong as in illegal.
I believe they can only assume acceptance when a deal is wholly unconditional, when the bidder has enough shares, however, I would make sure your instructions are known !!!@@???
Should that be reported to regulators/takeover panel.

Can anyone give a definitive %age on 'wholly unconditional' from takeover rules rather than the spin that Gold Fields put out.

[haydock] 13/8/2009 11:53

Anyway so far today the deals number only one @ about 20.000.

They had better get on the phone & ring round again!!

[day_dave] 13/8/2009 11:47

I also received a message yesterday[LloydsTSB Nominee account]that since this was a recommended offer they would arrange to accept it on my behalf UNLESS I notified them in writing by letter or secure message no later than 5.00pm on 27 August.

[dr fillip strange] 13/8/2009 10:57

I have my shares in a nominee account, Yesterday I received a letter saying that I need to let my broker know by 28th of August.

[1waving] 13/8/2009 10:51

haydock --- first acceptance date is 4th Sept at the company's registrars office.
Computershare Investor Services (Ireland) Limited

27th Aug just to be at your broker, mine also.

Should get an announcement quickly after 4th Sept.

[haydock] 13/8/2009 10:46

Acceptance date on my letter, just arrived, 27th aug.

[1waving] 13/8/2009 10:13

Haydock -- last GF holdings RNS I saw, 4th Aug, GF had 90million shares or close to 30%. they will have picked up very few since. Loeb seems to be the buyer at 8.75p.


Another GF Nasty -- Lock up for shares/shareholders who accept.

Got a letter from my broker a few minutes ago with an acceptance letter for the Gold Fields offer which is a big no for me.

If anyone does accept they cannot then sell into the market, whether another offer/deal comes in or not, and therefore have their hands tied, but Gold Fields will not be obliged to buy unless they declare the offer as wholly unconditional -- which looks unlikely with this derisory offer.

The first acceptance date is 4th Sept, doubt very much GF will have anywhere near what they require and will have to up the offer.

The move into Mali is Strategic for them -- They will not walk away.

Possibility of another deal from somewhere else ??

[haydock] 13/8/2009 09:29

Well now we are all well aware why they are panicking.
The trades are just over 1million per day & today so far zilch.

They have not updated for a while, it's not worth it, they have to get to about 150m shares for 50% & had about 100m last time out, & need over 50% anyway.

At this rate it's going to take a while, unless they get a landslide on the document final date.
With Loeb snapping up shares as well & MacQ not selling, they are in a poor position.

MacQ will be turning the screw, on our behalf for once.
Anyway thats what the glass half full says. It really is a pot boiler thats clear.

[wispaman] 13/8/2009 09:00

Are the GEX board supplying them with all the details of holders or can they get the info from other sources?
wispa

[1waving] 13/8/2009 08:21

This phoning by Gold Fields representatives to encourage acceptance with undue influence ----- Is it legal, particularly during a full blown takeover attempt ?

I am sure they will try and be cautious with their 'weasel' words but it may also be that what they are doing constitutes giving investment advice and is illegal and needs reporting to regulators just on those grounds.

Hope the name of the company and person and their contact details have been/will be noted and reported to the regulators in the UK/Ireland and in particular the Takeover Panel in Ireland. The rules are quite strict for all parties.

This undue influence from the telephone calls sounds like an illegal solicitation to imply you should sell at this derisory price.

Report them.

[petecr] 12/8/2009 22:46

I too have had a phone call and I made it quite clear that the offer was not enough and that I would not be accepting - he didn't seem too pleased!!

[share_shark] 12/8/2009 16:13

Gant does not know the CO there though !!!!

[share_shark] 12/8/2009 16:11

BETTER NEWS FOR YOUR K !

[bongo bwana] 12/8/2009 16:03

Im delighted for you SS.

Gant is excelling at MOS also.

[bongo bwana] 12/8/2009 15:47

I did SS.

Timing does not suit me.

[share_shark] 12/8/2009 15:43

Sorry.double post by mistake.

[bongo bwana] 12/8/2009 15:03

I think GF and their reps must be getting concerned at their inability to secure a sufficent % of GEX's Issued Share Capital, to date.

There may be a significant rump of GEX holders who are not prepared to sell to GF at this derisory level of compensation.

[edmas] 12/8/2009 14:31

Hello,
Do not normally post. This is for information.
Have just received a phone call (14.15 U.K. time) from a 'Financial'company in Ireland- as I understood the conversation;- he was working on behalf of Goldfields, wished to know if I had received the documents, did I have any questions , and repeated the address to send acceptance back to.

Usually always ask for phone numbers- but in this case did not. The 1471 on the phone revealed a blank.

[share_shark] 12/8/2009 11:09

Now BB, you are taking the Mickey !.

Have received reply from Barrick with all the usual platitudes BUT they are aware of the GF/GEX situation. Have emailed several others too. However I am not hopeful.

I thought I detected a war cry from you BB but I forgot to distinguish the workers(me) from you there,up in the Gods(the Upper Echelon).Sorry for that, because for one minute I had my tote bag ready, toting a gun, hoping to increase the totalizer(the sp) and you got me all excited again.

Now, now, MK and M staying with the girls back in C,not my scene with braclets. at 500 Euros for a piece of designer PLASTIC. Nicked the laptop from one of the ladies, on the promise of once only use(today) on the basis,I wont tell her my secrets if she doesnt tell me hers.

Look do you wanna me to go and smack the management with me powder puff...........after I have seen to MK that is ?.

[bongo bwana] 12/8/2009 10:18

Its all double dutch to me!

SS - any response from Barrick?

Have ya moved the trailer to Milton Keynes or is that MK Dons in Wimbledon?

Shure I'll ask Francie to give ya a quote for some tar macking and concreting work.

No more climbing on the scaffolding, ya heaar.

[share_shark] 12/8/2009 09:52

Aye, BB, one would like to think that the management would indeed, get their Isandwana and Rourkes Drift, in this life but unfortunately with those options etc. they are more than set up for life.

Paddy, you have put the mockers on me, with your hardhat comment as TWO quarter ton ,15 metre ,RSJ's instead of two tiny,12ft. 6inch R's were delivered this morning,to MK. My structural engineers explanation for this ,this morning is " I thought better be safe than sorry". I will kill him when I get home. So no more C but MK this weekend. ;-)A project manager should never leave her job, whilst its ongoing, even if her builder has worked for her for 30years. Ya see, Bon Ton, was never me. I will leave that to the beautiful people. LOLS. Oh yes. G.S.M.J did shimmy okay !.Brain on him like a rocket scientist with background to match. Ah well back to me East End roots.

PS. WHO is going to be King Ketchawayo ?. BB, 1Waving or Serpico ?. I have my assagi at the ready, chaps. ready to run that 30miles, barefooted, with the Impi,THEN do battle( after I have finished with my structural engineer) !.