Overnet Data Share Discussion Threads

[m1dge] 21/4/2004 12:45

I am not an expert as I am about to demonstrate, but what happens to the share price will surely be dependant on the quality of the company that is reversing in to OND.

In terms of any split, if the company is valued at £30M and the AIM listing is worth £3M them a 1: 10 share split is reasonable. If the market cap subsequently goes up to £100M yout total stake will go up likewise. Lets hope they have chosen a good company. For me it was money I had given up on anyway.

[jc111] 19/4/2004 17:43

hope somone gets to the bottom of it.
I certainly hope it's nothng to worry about, it just struck me as a peculiar thing to say.
Better not be a 10:1, after all this time waiting WE WANT EVERY PENNY BACK PLUS INTEREST! i.e a good deal.
But as someone has posted earlier, the directors did say to them in a phone call that they expected the shareprice to be the same or better upon returning to the market, so not too worried.
Not in a position to ring them due to not being in the country from Tomorrow, I tried ringing earlier and got no reply.

Maybe someone else can get some re-assuring words out of them.

cheers

[capricorn_1] 19/4/2004 16:50

"Whitewash" according to the Oxford Dictionary is descibed as "an attempt to conceal an unpleasant truth"......let's hope it isn't that they've done a deal on a 10:1 (dilution) basis....;-)

[mclellan] 19/4/2004 11:17

Does that mean they won't come back to the market til the end of May?

[jc111] 16/4/2004 18:17

at last.looks like the long awaited deal has been done, shares to be re-listed soon, hopefully with a decent company inside the OND shell.
one thing....what does 'whitewash' mean in relation to this?

'which incorporates a whitewash in accordance with the code on takeovers and mergers'


RNS Number:6973X
OverNet Data PLC
16 April 2004



Further to the announcement issued on 8 March 2004, the Directors of OverNet
Data Plc ("the Company") announce that the terms for the proposed acquisition
have now been finalised and due diligence is being completed. The circular to
shareholders, which incorporates a whitewash in accordance with the Code on
Takeovers and Mergers, is expected to be published towards the end of May 2004.


Dealings in the Company's shares will recommence upon the publication of the
circular to shareholders.

[mclellan] 14/4/2004 14:04

Stew James- sorry, the two are separate statements really, in answer to two different questions. Can't get much out of him.I asked him if he expected that the share would come back to the market as much the same price as before suspension and he said he didn't see why not- depended what the shareholders thought of the deal. I said that I would personally dump mine unless it was reasonable. They have got a cheek tying up shareholders' money for so long.

[stewjames] 13/4/2004 17:25

From what he said, I understand that it is coming back as a cash shell and the price will depend on what the shareholders think of the deal!

A cash shell is only worth what it has in the bank plus perhaps a small premium. OND was rated at a ludicrous premium when it was suspended supposedly because of the great company that was going to reverse into it. If that rumour turns out to be rubbish then the price should plummet, irrespective of the "deal".

[mclellan] 13/4/2004 15:23

I spoke to Mr Knifton this am and he is still not sure whether they are coming back by the 20th April or going to ask for a delay. He says they have to get it right!!From what he said, I understand that it is coming back as a cash shell and the price will depend on what the shareholders think of the deal!! What a laugh!! Who wants their money stuck for possibly another six months sometime? That has never happened to me before and it is very annoying!!

[mclellan] 13/4/2004 09:29

jc111- no new certificates were sent out. Mine just has the new value printed onto it.

[jc111] 09/4/2004 04:12

does anyone have their share certs to hand?
i have 10k (of 5p each)
now i know the nominal value is now 0.5p.
question is:
were certificates sent out for the new ones or did they leave it, and the 5p's are still valid?
thanks for any help

[jc111] 08/4/2004 11:45

MClellan, i presume the nominal value is 0.5p?

[mclellan] 08/4/2004 11:23

jc111- the registrar, I would think

[jc111] 08/4/2004 09:46

cheers mc

can anybody advise whether it's better to contact the registrars, or the company secretary (if they have one lol) to find out what my pitiful shareholding is now.
long since lost track of my certs.
merci beaucoops

[capricorn_1] 08/4/2004 09:03

That's what I'm hoping for..2 weeks to go until the 6months maximum time is up!

[mclellan] 07/4/2004 14:22

Supposed to be before the 23rd of this month. Knifton expressed great surprise when I said I was concerned about my investment being worth nothing when it relisted, especially when it has been tied in for nearly 6 months and there were plenty of shares moving on where it would have been more profitable!
Maybe we will get a pleasant surprise!!

[andy2000] 07/4/2004 13:25

Have to say im losing hope of getting anything back on this one at all!

[jc111] 07/4/2004 10:00

does anyone have any information about when this thing will be re-listed?

[nickanme] 24/3/2004 13:28

OverNet Data PLC
24 March 2004

PRESS RELEASE


24 March 2004


OverNet Data plc ('OverNet' or 'the Company')

OverNet Data announces that with effect from 18 March 2004 the agreement to
provide a drawn down facility entered into with Principal Corporate Investor
Limited on 24 September 2002 for a term of two years was terminated.

The agreement was to provide the Company with an equity line of credit intended
to provide financial flexibility. As OverNet is now a cash shell, as previously
announced, the credit line is no longer needed.

There are no financial implications to the termination of this agreement.


- ends -


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

[rp] 22/3/2004 08:27

Andy2000 - I'm having same problem - will report to ADVFN. Did cause me to panic mildly about the latest status of this company

[fred needlestreet] 21/3/2004 23:06

tum tee bloody tum

[andy2000] 20/3/2004 16:30

OND keeps disappearing from my monitor,as if it didnt exist!
Anyone having same problem?

[andy2000] 18/3/2004 14:00

Presumably, if no successful conclusion is reached with another party,
then the company will be wound up, and we wont see a penny!!

Am i right??

[andy2000] 17/3/2004 14:28

tum ti tum.........

[artful dodger] 08/3/2004 21:59

not one but two companies who want a reverse t/o of ond? What does this stock have that attracts such attention? Nice for the managemnet to have a choice though! I have ascribed these a value of 4p when they return...anything else is a bonus!