Northacre Share Discussion Threads

[noddy31] 17/1/2013 21:24

THERE NOT GETTING MINE UNTIL I AM FORCED TO SELL THEM.

[brando69] 17/1/2013 20:07

If Abu Dhabi need 75% I can't see them getting close...

[daneswooddynamo] 17/1/2013 20:05

Brando as i mentioned before if you read 2.6 of the code ken i think was effectively released from making an announcement due to fact that another offeror had already announced an offer

[brando69] 17/1/2013 19:37

danes

i share that hunch.

though i have emailed the company to express dismay that he didn't say anything today before 17h00

[daneswooddynamo] 17/1/2013 19:36

I think we might get an announcement from ken tomorrow and not convinced the fat lady has sung. Always difficult when two bidders at same price so neds have recommended one but now opens door for higher offer and then potential counter offers ( he said wearing the rose-tinteds). Kens first announcement only a few days ago.

[dupree] 17/1/2013 18:59

Hopefully.

The 'recommended' offer is expressed quite dryly in terms of the recommendation by NED; do they justt ask Ernst and Young and then pass on that recommendation of 'fair and reasonable'?

The Ken talk (RNS) about his offer is more interesting, packed with justification and reference to long term shareholders who might be impatient.

I am not great on who these groups are but can one draw a link between what Ken said and the 29% that's changed hands?

[sami69] 17/1/2013 18:00

Like I said before it makes no sense not to offer even a couple of pence more if you really wanted it... Why go to all that trouble (unless he has been incentivised not to bother)

NED would not have reason not to approve abu dhabi if they knew KM may only offer a little more..

hopefully a few more pence may yet be squeezed out before the the final curtain falls..

[clampit] 17/1/2013 17:48

I've 40,000

[daneswooddynamo] 17/1/2013 17:40

actually if you read 2.6(a) of the Code it appears to say that where an offeror (ie. Abu Dhabi) has already announced an offer (which it has) the deadline for another potential offeror (Ken) falls away...this one may just not be over quite yet

[dupree] 17/1/2013 17:17

sounds horrible david77. I've got a dead cert case myself....

re above post, Ken did indeed commit to announcing intentions by 5pm today, as copied below

"In accordance with Rule 2.6(a) of the Code, River View will have until 5pm on 17 January 2013 to announce either a firm intention to make an offer for Northacre or that they do not intend to make an offer. This deadline will only be extended with the consent of the Panel in accordance with Rule 2.6(c) of the Code."

You'd think throwing in the towel would be an easy enough announcement to draft wouldn't you.

[brando69] 17/1/2013 17:14

full details...

[david77] 17/1/2013 17:12

kilmeedyman 17 Jan'13 - 16:01 - 17657

I have used the law three times on dead-cert cases - and lost every time. Written above the main doors of the High Court in The Strand are the words "Royal Courts of Justice". Don't you believe it, it is a lions den and any one vulnerable in any way will be torn to pieces.

The one with the best lawyer wins - it has nothing to do with justice.

[tradeit4] 17/1/2013 17:09

I have 20,000
happy to be included in any group action.

[tradeit4] 17/1/2013 17:09

I have 20,000
happy to be included in any group action.

[daneswooddynamo] 17/1/2013 17:08

well unless ken's vehicle has got consent from the takeover panel for an extension i reckon he is in breach of the code for not making an announcement one way or the other!

[brando69] 17/1/2013 17:04

let's be clear: NEDs are recommending this offer... but the offerers only have 29.9% so far...

[jamie62] 17/1/2013 17:03

Ken ...10000@59p, 1500@87p, 1500@88p, 5000@73p 5000@101, 2000@91.5

Total 25,000 @ £19,055...76.22 average...so £4,945 profit.

[dupree] 17/1/2013 17:01

Oh is that all

[daneswooddynamo] 17/1/2013 16:58

realistically the maximum special div would have been about 70-75p to allow for 18 months working capital/bonuses etc.

[jamie62] 17/1/2013 16:58

To be fair, the special dividend was highlighted by the Board!

[dupree] 17/1/2013 16:56

Lots of punters were talking about the 'special' dividend being better than this.

[brando69] 17/1/2013 16:54

ken bought his small holding cheaper i believe. check the RNS trail

[daneswooddynamo] 17/1/2013 16:54

no he makes money! mind you he'll make a lot more from the pay-off

[brando69] 17/1/2013 16:54

i've got to dash out now for a few hours. anyone fancy compiling the holdings into a list... tara - you could even put it in the header, to be updated as more declare... then we can see where we stand. tara, i know you tend to be cagey, but wouldn't be a bad time now to play your hand, and tell us how many you hold. nothing to lose...