Pan Euro Share Discussion Threads

[aaainvestment] 09/11/2013 19:41

It would be easy for the PAN BoD to endorse the offer if they so wished, their silence speaks volumes, for me a no to both proposals is the only sensible vote for PI's who want the maximum for their shares - that should be all of us with anything resenbling a brain between our ears.

The vote cancellation has bought time, I suspect the BoD was ambushed with the help of Alpcot and advised on supporting the proposals whilst unaware of the attempt at a takeover and in doing so they may even be legally committed to casting their vote in favour against their wishes, this has been a very neat stitch up IMO and a long time in the planning

IMO EVERYONE should vote, if institutions and the BoD decide to go with the proposals then so be it, but it would be a MASSIVE pity for institutions and the BoD to put up a fight and lose for want of a few votes.

This is not a general election were your vote in most cases is meaningless, this is YOUR money and maybe a lost opportunity - make sure you cast your vote against, if you haven't done it before it's easy just contact your broker.

This is no time for dithering - I've made my position clear - I do not for one minute believe our suitor is acting alone - there is either more money in it for us(a lot more) or they(I believe it is a they) should be told to take a hike. Whilst this is going on the shareholders of AIM oil junior UEN have seen a healthy rise in their share price as a result of a similar move involving Alpcot and allegedly a Russian buyer hidden by a front man, share price practically doubled and the fight is still raging - I believe we have a similar situation and 22p is basically taking the *iss.

[pantastic] 08/11/2013 23:56

The loan note conversion has become part of this possible takeover situation so therefore The Code applies. This restricts what can be said. It is my opinion that its no longer in shareholder interests but prior to Belphar I was in favour.

The restrictions now in place are massive.

[curt3] 08/11/2013 11:51

If the BOD now feels that it not in the companys best interests to allow conversion of the loan, can they not simply withdraw / cancel the motion ?? I dint know the legalities !!

[pantastic] 07/11/2013 17:22

Unless they have fallen under the spell of Belphar like Hurley and Hepworth. I do hope not.

[silverlandfinance] 07/11/2013 15:09

There are a number of private investors buying shares at around 20p per share knowing that in the worse case scenario they will be able to get out at 22p.
The steady trickle of buys is being fed by a steady trickle of sells by AXA hence the continuous nature of their announcements.
It is not clear why would AXA sell at sub 20p when they know one way or the other they can get 22p or more for their shares.

[smokyjoe] 07/11/2013 13:48

i thinks its just a part sale...the 16/11/13 RNS refers later on to it here...

Class of relevant
security Purchase/sale Number of securities Price per unit
1p ordinary sale 46,863 0,199800

At a guess i'd say it just portfolio rebalance - as opposed to a fundamental change of outlook. It would also explain the regular and continuous nature of the announcements.

[david77] 07/11/2013 13:32

The AXA RNS looks as tho they have agreed to sell their shares

Interests Short positions
Number % Number %
(1) Relevant securities owned and/or
controlled: 3,720,637 3.50
(2) Derivatives (other than options):
(3) Options and agreements to
purchase/sell:
TOTAL: 3,720,637 3.50

[smokyjoe] 07/11/2013 12:29

Presumably, at some point if we are to refute the offer the BoD will have to state publically what they perceive are true value of PAN to be (based on whatever metrics work best)?, i just hope this info comes out in good time BEFORE the rescheduled meeting, fingers crossed.

[pantastic] 07/11/2013 12:14

I can't see on what basis that it looks anywhere near cut and dried although the article was most likely written before the meeting and RNS where the CEO said 22p was too low and that they had a couple of meetings with Belphar but they were probably talking about the football as Belphar's intentions still weren't known.

SCSW is a good publication and I used to be a subscriber. They did a good write up on the company some time ago and it was one of the best I had seen. I think they are jumping the gun a bit this time though.

[silverlandfinance] 07/11/2013 11:53

The November issue of Sharewatch came out with a little comment on PAN.
They alluded to the approach from Belphar.
Their comment is as follows:"A cheap deal but it looks like it's cut and dried, bar the shouting."
I hope this is not the case if we manage to block the conversion of the loan notes into share.

[pantastic] 06/11/2013 14:37

Oli - the company, under AIM rules, is probably considered to be within a "closed period" on the basis that they are "considering an offer being made for the company". It's one of the clauses that triggers a close period - it's not just about the 2 months preceeding publication of accounts.

I'm a bit sad. I have all the up to date versions of 'AIM rules for companies', 'LSE rules' and 'Takeover Code'. As a result, the share price of the manufacturers of "Nytol" should take a tumble!

This will restrict what they can say and not say and the Takeover Code is one of the tightest things I've ever seen ... and my Dad's a Yorkshireman.

[oli12] 06/11/2013 13:57

I feel alot of games are been playeed here... a bullish trading update from PAN stating cash balances would help ALOT right now....

a Rosbunker settlement would send Belhpar packing....

[aaainvestment] 06/11/2013 13:42

I'm not sure if it's AXA direct or on behalf of a client, but if they want out they certainly don't want out urgently. It's possible they are just playing a little game to test the market.

[oli12] 06/11/2013 13:31

IF AXA keep selling at this rate then they should be out by Christmas 2019..
no idea what their plan is... keep the price down or just lower their exposure...

[smokyjoe] 06/11/2013 11:49

Yes, will do, its SIPPDEAL though and they're normally very good.

[david77] 06/11/2013 11:42

Phone your broker and ask why - they need a kick

[smokyjoe] 06/11/2013 11:34

Thats wierd, i put an order on first thing to buy some more sub 20p and havn't had the order filled yet, bit annoying :-(

[silverlandfinance] 06/11/2013 10:38

Bought another 30000 at 19.95p. It was easily done so there must me stock available

[king of bongo] 05/11/2013 20:25

Yawwwwn. Off to bed.

[yobstol] 05/11/2013 20:20

Wasnt Alpcot supposed to be doing PAN a favour in finding a buyer (Belphar) for their stake?

[king of bongo] 05/11/2013 20:16

I'm still banging on my drum pantastic.

It looks like management have managed to get Excel installed and can now go about the speculative task of valuing their company. The chunky-buttoned tax calculator wasn't up to the job.

Management appears to be alive. VERY positive!

Market seems to be pricing in a non-takeover. Perhaps Belphar wasn't up to date with the AIM rules?

M&S falling due to bulk returns from AAA.

KOB

[pantastic] 05/11/2013 15:51

Work have fully signed off my holiday for 18th and I've managed to get cheap train tickets. £10 each way by doing two singles on specific time off-peak trains to Liverpool Street (no such bargain deals on Kings Cross - no deals at all in fact). Standard price for an open ticket is £28.90 each way (£57.80!) .

Just because I got cheap train tickets doesn't mean I think Belphar can get a cheap PAN ticket. Just to be clear.