Mining Minerals & Metals Share Discussion Threads

[wispaman] 15/8/2009 17:03

Hi Doc, no I do not.
What I do know is the way other take-overs have gone.

Once the % achieved for full control has been reached, holders who do not sell,

their money is put into an account where they can submit their shares at any time

to receive payment (this is a no interest account, I believe).

Do you know about these share options the director nicely awarded themselves (obviously unbeknown to them was the take-offer coming so soon after), can they accept them? and if so can they sell them? or are they obliqued to sell them (as they have recommended the offer).

Strange affair in my eyes these options, love to report them to an official body to check out legality.

lol Wispa

[dr fillip strange] 15/8/2009 16:19

that's a funny predicament wispa, nice to see ye doing well. Do you know the timescale for settlement if you don't take up the offer and GF get the 50 -80 -90 %.

[wispaman] 15/8/2009 12:06

jagajag, ditto.

Dr Fillip Strange

Doc
This year has been a good year for me & the Leprechaun, we sold nearly half of our GEX holdings @8.85, re-invested into a winner, and we are now in the boat of can not sell the rest with-out being libel for CGT, 9p is no good to us, even if GF get everything they want (90%+) we will be leaving ours in the account that they will have to set up for those who do not sell.

Till the next financial year starts, that is.

Thanks for listening had to tell someone, of our fortunes.

lol wispa

[stenick] 14/8/2009 18:44

I think I got that wrong. It is more like 48.5mill shares got for zilch.????

[stenick] 14/8/2009 18:43

If it stays in GEX then GF have effectively got 20 mill shares for free.Our BOD are certainly looking after our interest arn't they.......not!!

[stenick] 14/8/2009 18:24

So what happens to any cash left in GEX, do we get that IF GF get GEX, or will the BOD be spending it?????

[haydock] 14/8/2009 17:39

Loeb certainly are still involved here.

[spaceparallax] 14/8/2009 16:57

problem re a counter-bid is whether anyone is sufficiently familiar with the GEX operations to recognise the potential - GF have been in a unique position.

[1waving] 14/8/2009 15:30

If a bid is successful, as a shareholder you get your 9p per share whether you commit your shares or just hold to the end of the process

but

By committing your shares to this derisory bid you are discouraging any counter offer or other deal.

You are also increasing the number of acceptances and therefore discouraging GF from increasing their offer.

[bongo bwana] 14/8/2009 14:58

If a counter bid doesnt materialise by the 26th Im considering doing exactly the same.

Thanks.

[haydock] 14/8/2009 12:12

I see that 60.000 are listed as a buy today?

[wispaman] 14/8/2009 12:09

can directors receive share options, whilst a take-over is in place!

and if they can, what about selling them, can they do that.

thanks for any info given.

lol wispa

[haydock] 14/8/2009 12:04

Well that makes the total even higher.
I wonder if they will sell them straight away or not?

[willyworm2] 14/8/2009 11:46

spacer

yes, nice to be able to print yourself some money like that. FWIW I have 300k shares, which is 0.1% of the company. I have told my broker to vote no to the offer, all we need now is another 999 like minded individuals...

[pecker1] 14/8/2009 11:43

Well for my shares held in a Natwest account, the default option is "Do not Accept". So positive action is needed to accept the offer. Good, I'll do nothing. If gold goes over $1000 in the next couple of months, it will make the offer even less attractive.

[bongo bwana] 14/8/2009 11:38

Spacer - what do you think of the 9p offer?

Will you be accepting?

[spaceparallax] 14/8/2009 11:34

Nice little option scam, if you're privileged.

[dogdig] 13/8/2009 20:35

Found mine online awaiting a decision - so I decided - and did not tick the box for acceptance - just left it strictly unactioned.
As I did not opt in this will be taken by Broker as a "No" - pity there was not a "No!!!" box on the Form!

[1waving] 13/8/2009 20:28

Stenick - Thought you had received paperwork on it - it does sound odd but well worth checking.

[stenick] 13/8/2009 18:59

1waving,the fact is I have heard nothing from my nominees, so I assumed they were waiting for me to contact to give my instructions,but I did assume if I did nothing they would do nothing,but I am not so sure now so I will contact them.We all know where assuming get's ya....lol..

[1waving] 13/8/2009 17:43

Stenick -- I would report this 'assumed consent' to the FSA/regulators if that is what it is. Devious and illegal would think.

[stenick] 13/8/2009 17:07

Thanks day-dave, I'm going to contact my nominees and tell them not to sell,I don't like all these 'cunning stunts',GF are having a larf surely!

[wispaman] 13/8/2009 12:05

day_dave, can they legally do that!

I would have thought you have to notify if you wanted to.
What would happen if things got lost in post or as we have at the moment threat of postal strike.

wispa