Modern Water Share Discussion Threads

[monkey puzzle] 06/11/2020 09:05

Failure to swap your existing shares in MWG for DVRG will mean owning a share in a non-listed private illiquid subsidiary company of #DVRG.

[wilsonst1] 06/11/2020 08:56

Just like any takeover the company will still exist but with different owners. In this case MWG will not be listed but owned and run jointly by DVRG.

[onehanded] 06/11/2020 08:51

Surly this is a buyout of all modern water, which will no longer exist in ANY form?

[wilsonst1] 06/11/2020 08:45

It's all due to costs. Why take over a company and still pay for exchange fees and broker costs . This is all being done by the book.

[monkey puzzle] 06/11/2020 08:45

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[onehanded] 06/11/2020 08:42

All very strange. I know someone who was waiting to see the result (as his right) first before selling or holding. He plans now to sell and buy deepverge as his broker is not allowing to transfer. A real mess.

[katsy] 06/11/2020 08:27

I asked the question the, "if Modern Water is fully being merged into Deep Verge" why the need to take Modern Water private?" But GB didn't reply to that.

[nik7907] 06/11/2020 08:25

Agree Katsy. I have been involved in 4, 3 on AIM. None were like this one. This one confused my broker also.

[katsy] 06/11/2020 08:04

I've had three shares that were taken over before I this is the strangest one of the lot.

[onehanded] 06/11/2020 07:30

just sell your shares here if in doubt and buy deepverge. This has been a mess and should be traded until the offer date is closed and then the result and then a date to trade to allow holders to sell or hold knowing the result.

[quazie12] 05/11/2020 22:31

I036Thanks for your reply. I agree we are not experts in this. In my mind its is pathetic that the info we require is not easily accessible. I will revise my opinion of Mr Brandon if he comes back on here and enlightens us. Mind you that should be the job of my broker who have failed miserably in this instance

[i036327] 05/11/2020 22:12

Hello quazie12, this is what I received from iweb today(minutes after being advised I'd not receive anything until the 15th)"It is not yet known when the Cancellation of Listing will become effective, however, you should be aware that following the Cancellation of Listing, you will no longer able to sell or otherwise trade your Modern shares on the AIM."I mentioned previously that I've never owned shares in a company which has been taken over, so this process could be entirely normal, however it is not what I would have expected. I dont understand why, once an offer is unconditional, the shares aren't automatically transferred. It seems a bit strange strange that if I missed 1 email (I didn't receive any notification from iweb until today), I would end up with shares in a delisted company that in all likelihood I'd struggle to sell. Does anyone know if this is normal?

[quazie12] 05/11/2020 20:58

Sorry, am I a shareholder in a delistedCompany with the assets transferred to Deepverge ?Excuse my ignorance in this issue but HL in their wisdom say they will only spell out my options under that scenario once it has happened.

[quazie12] 05/11/2020 20:55

I'm not speculating but making valud comment. There is a lack of transparency here in that HL, my platform have not made my options clear if I choose not to accept the Offer. As a result it feels like shareholders are being corralled into accepting here. If Deepverge don't get the 90% acceptances and there is no minority squeeze then what happens ? Am I a shareholder in a deliated company ?

[quazie12] 05/11/2020 19:36

I'm completely confused. If the 90% acceptances are not achieved by the new deadline and I have not accepted the offer my broker has chosen not to outline my options at this stage. What is the big secret exactly ? IMHO this is a corrupt procedure which is designed to "encourage" shareholders into accepting the offer

[monkey puzzle] 05/11/2020 16:37

No change on mine with two different brokers

[katsy] 05/11/2020 16:23

All my MWG shares have now disappeared from my account, can only assume they will come back as DVRG shares on Monday.

[monkey puzzle] 05/11/2020 15:27

Agreed, should have been suspended?

[onehanded] 05/11/2020 14:55

false market as only allowing sellers. This will bring here and deepverge share price down till 10th. Expect will be buying surge on deepverge as sellers here buy into it.

[nik7907] 03/11/2020 20:02

Repost from dvrg board

Well I have a few mwg shares. My broker is saying if you didn't accept you will be treated the same way as someone who did accept if the offer becomes unconditional, which was always my understanding. If not how do you vote no?. They are also telling me they are unable to accept the offer now as there is no corporate action active.

[i036327] 03/11/2020 19:49

I bought shares post the offer and did not hear from my broker (iweb). I eventually got to speak with them after 4PM to be told I wasn't eligible.It took quite a while for them to advise that they would send me something, hopefully that will be tomorrow to save me contacting them.I've never owned shares in a company that has been taken over but , as mentioned by someone earlier, it seems a messy process. I assume there is a logical reason why MWG shares are not automatically replaced by DVRG ones.