Pan Euro Share Discussion Threads

[pantastic] 25/10/2013 12:34

The board can recommend we do many things but we can also make our own minds up based upon personal preference. I don't want Belphar getting the 22p loan note conversion shares regardless of whether a takeover bid is made by them.

We are only waiting for BoD regarding takeover not about the general meeting resolution.

My vote is the same now regardless of takeover as Belphar have been quite clear about their intention regarding Hepworths loan note shares and Hepworth have agreed to play ball with them.

Simon can RNS anything but he can't change the above apart from voting for or against conversion as we can.

[smokyjoe] 25/10/2013 12:10

Katkel12

I think you're getting a bit ahead of yourself, we havnt even had a response from the BoD yet. Stolen ? who's talking about theft ? we've been given a price - 22p - which on a fundamental basis, appear's cheap. However, we really need a definitive reaction from the newly updated PAN BoD setting out their view on whether this offer is valid or, as i suspect it wont be, giving a clear assessment of what the value here is. Your churchillian battle cries are a little premature to say the least.

[m_b2] 25/10/2013 11:45

I only have two things to vote on at the moment

1: To authorise and empower the Directors to allot shares in the Company, subject to the restrictions set out in the notice convening the General Meeting

and

2: To authorise and empower the Directors to disapply statutory pre-emption rights, subject to the restrictions set out in the notice convening the General Meeting



Edit: Ah I see now

[katkel12] 25/10/2013 11:37

Look alive

Nice one son, nice one son, now lets have another one !!

Yours

IAN

[katkel12] 25/10/2013 11:35

Smokey
The first thing you have to do is to try and stop this take-over. It might be the case that the only option left to PAN is to out vote the proposition. We can sort out the rest later. If you have money invested here and you are happy to see it stolen from you then so be it. I'm not and will fight it to the end.
Yours
IAN.
P.S.
Don't be one of those Guy's that leaves it to every body else.

[smokyjoe] 25/10/2013 11:04

Its all very good voting now but we havnt even had the formal response from PAN yet.....which in itself is hardly encouraging. Face it we're stuck in limboland again, yawn. When PAN does finally find time to respond to the offer it had better be one hell of a rebutal, at least thats what i'm hoping for.

[look alive] 25/10/2013 10:47

I have voted my 196,000 shares against. Every little helps.

[katkel12] 25/10/2013 10:43

Hi Guy's I have just spoken to Equiniti PAN'S Registrars and the clarification is this.

If you fill in the Proxy form ( because you are not going to the meeting ) and return it to them, they will check that it is correct and your vote WILL BE COUNTED.

So please either vote through your Broker or get the Proxy form printed off and get in the Post...ASAP

Together we can WIN this.

Yours

IAN

[king of bongo] 24/10/2013 20:45

"Why the personal crusade against AAA."

Well he started it! Actually this is the first time I have referenced AAA, I certainly didn't accuse him of selling his holding. I just find his wild, far fetched and persisent "on the attack" speculatory nonsense quite amusing at times, that's all.

[king of bongo] 24/10/2013 20:07

Good luck with the voting!

I believe the management is still mulling. They have been mulling for a while now. Any idea what they have mulled? And will it be a Friday close-of-business "up yours shareholders!" RNS or a show of farce, sorry, force, against our not-so-white-knight?

Looking forward to seeing how it all PANs out,

KOB


p.s. is it true that after every one of these regulatory RNS's AAA has to change his undergarments?

[pantastic] 24/10/2013 18:32

I am not sure you can fill in the proxy form as a retail investor as the shares are actually held by the stock broker in a 'nominee account' and they are the official shareholder. When you contact them, they write the number of shares you hold out of their full holding and then allow you to vote with that number.

I wouldn't want people posting the proxy form off incorrectly completed and thinking you had voted when in fact you hadn't.

I believe this to be correct - any others older and wiser, please feel free to correct.

[katkel12] 24/10/2013 18:18

Right Guys here is the PAN site where you can download and print a copy of the Proxy form. The instruction are on it. SO PLEASE PRINT IT OFF FILL IT IN AND POST IT A.S.A.P

hxxp://www.peterminals.com/investor-centre/documents

If not possible ring your Broker tell them to vote on your behalf. It doesn't matter how many Shares you own. They all stack up if we vote together.

You have no excuse VOTE AGAINST BOTH PROPOSITIONS and at least you can say that you tried to stop the take-over. ( at this rip-off price )

Yours

IAN

[mark1000] 24/10/2013 17:04

I seem to recall that anyone buying over 30% of a company has to make an offer for the rest well is Mr Shakhidi just going through the motions not really expecting to win but to park his tanks on SE`s lawn lets face it if he really wanted to win he would have gone in at a higher price and sown up some more of the II`s.This mean offer may be for starters but it will have put a lot of folks backs up while at least a 25p bid would have given some takeover premium above the share price

[bangers for bucks] 24/10/2013 16:31

I spoke with Lloyds this morning and the girl there seemed to think the cut off for proxy votes was the 28th so best get on with it!!

[silverlandfinance] 24/10/2013 15:49

Pantastic
I agree with your post 907.
The Trojan Horse has penetrated the ramparts. Will he be able to sack the city?
A robust defence is crucial

[aaainvestment] 24/10/2013 14:11

So good you checked it twice. LOL

[pantastic] 24/10/2013 14:10

That's correct - everyone who owns 1% or more of the PAN shares now needs to inform PAN who will then announce that. This is different to the usual 3% threshold due to this 'possible' takeover offer.

Sadly whilst far from potless, I cannot afford a full 1% shareholding (well not at current share price) so I'm not included. All the little 50k, 100k share holdings all add up though so please do phone your broker to get them to vote your shares either FOR (really, why?) or AGAINST (that's more like it) the share conversion.

With 30% holding rather than 49-50% holding, Belphar has less power. By not getting the extra shares, he will have to buy them through the market (or a new and therefore dodgy IMO issue of equity). If he buys them through the market, the price will have to be higher unless everyone bangs their head and starts selling them to market makers for 20p.

Please make one little phone call to your brokers, even if you have 10,000 shares. It will show the Company and Belphar that us small guys are NOT on his side.

Thanks for your help.

[silverlandfinance] 24/10/2013 14:00

I have checked the meaning of the disclosure forms, being the subject of the RNSs that have been filed over the past few days that have been filed by Axa, Utilico etc.

Form 8.3 is a Public Opening Disclosure position by an interested party with over 1% of the shares, and has nothing to do with call options or CDF contracts.

[silverlandfinance] 24/10/2013 13:59

I have checked the meaning of the disclosure forms, being the subject of the RNSs that have been filed over the past few days that have been filed by Axa, Utilico etc.

Form 8.3 is a Public Opening Disclosure position by an interested party with over 1% of the shares, and has nothing to do with call options or CDF contracts.

[pantastic] 24/10/2013 13:53

I have done some reading of companies house and London Stock Exchange rules this lunchtime. I know how to have a good time.

I wanted to know what percentage of votes they need for this share conversion.

Q: What is the required majority need for written resolutions?

A: The required majority will be similar to that for shareholders' meetings – a simple majority of eligible shares for ordinary resolutions, or 75% for special resolutions.

Source:

So they will need 75% vote in favour to do the loan note to share conversion.

Shouldn't be impossible to get more than 25% voting against.

Some of the longer term institutions (not Hurley and Hepworth who appear to have let us down badly) will have an average share cost well in excess of 22p and a target price therefore much higher than 22p. Add to that those of us on here who hold a decent number of shares plus all the other PIs who added to the mix can help - we should be able to stop this if we all do our bit.

Let's make sure we exceed 25% voting AGAINST the share conversion - unless you really are happy with just twenty two english pence per share? If so, please seek urgent medical help IMO.