Pan Euro Share Discussion Threads

[cougar99] 15/11/2013 15:57

Given timing of Belphars announcement and that they amassed 29.9% of PAN then I think that this was just Round 1 as Belphar website says:

Belphar is a newly established limited liability company, incorporated in the BVI for the purpose of acquiring a 29.9 per cent. stake in Pan European Terminals Plc ("Pan"), with a view to making a possible offer for the entire issued and to be issued share capital of Pan, at 22 pence per Pan share. Belphar was founded by Khofiz Shakhidi, who is the sole director and owner of the company.

[cougar99] 15/11/2013 15:51

The RNS says:

Belphar reserves its right to take any action otherwise precluded under Rule 2.8 of the Code within six months of the date of this announcement in the circumstances set out in Note 2 to Rule 2.8 of the Code

--------------------------------------------------------
This is Rule 2:

2. When a statement may be set aside
Except with the consent of the Panel, a statement to which Rule 2.8 applies
may be set aside only if:

(a) the board of the offeree company agrees to the statement being set
aside. Where the statement was made at any time following the
announcement by a third party of a firm intention to make an offer, the
statement may not normally be set aside with the agreement of the board of
the offeree company unless that offer has been withdrawn or has lapsed;
(
b) a third party announces a firm intention to make an offer for the offeree
company;

(c) the offeree company announces a ʻʻwhitewashʼʼ proposal (see Note 1 of
the Notes on Dispensations from Rule 9) or a reverse takeover;

(d) the Panel determines that there has been a material change of
circumstances; or
'
(e) the statement was made outside an offer period and an event has
occurred which was specified in the statement as being an event which would
enable the statement to be set aside (see Note 1).
The Panel will normally regard a switch by a third party offeror from a scheme
of arrangement to a contractual offer in accordance with Section 8 of
Appendix 7, or an announcement of its firm intention to do so, as a material
change of circumstances under paragraph (d). However, a switch from a
contractual offer to a scheme of arrangement will not normally be regarded as
a material change of circumstances.

[pantastic] 15/11/2013 15:48

He does sound rather arrogant, doesn't he?

[smokyjoe] 15/11/2013 15:44

hmmm, didn't see that coming

[pantastic] 15/11/2013 15:29

Announcement



"no longer making an offer"

[cougar99] 15/11/2013 15:25

Good luck with those ... your use of the word punt brought to mind some word connected with the Belphar guy.... Not long to the Meeting now...

[look alive] 15/11/2013 15:15

I managed to pick up an additional 50,000 shares at 20p. Pure punt I'm afraid.

[pantastic] 15/11/2013 13:23

Belphar knackered liquidity by making their possible offer thus making a self fulfilling prophecy of their suggestion shareholders were suffering poor liquidity so should jump at the chance of 22p.

Liquidity was fine before but has now been put on ice until Belphar sh*t or get off the pot.

[aaainvestment] 15/11/2013 09:37

Just tried a dummy buy of 100000 shares and couldn't get an electronic quote for 3 day settlement, yet I was offer 20.6p on a T20 settlement and couldn't get a price to sell 100000

I suspect the MM have a relatively small number of shares going into to vote as they don't gamble on the outcome. So maybe accounts for the difficulty getting the price some posters wanted - the share price is being controlled to discourage trading, buys and sells IMO.

[pantastic] 14/11/2013 18:05

Good price... and I thought my 20998 little top up at 19.97 the other week was cheap and that filled instantly.

Well, 22p is still cheap hence the direction of my voting this coming Monday...

[smokyjoe] 14/11/2013 13:51

I got the 19.68p, took a few days and an argument with my broker though.

Just a little top-up ;-)

[david77] 14/11/2013 11:58

Normal mkt size is only 3,000 although deals have been going thru for far more than that - and buyers have been paying 19.68 and 19.7p

[silverlandfinance] 14/11/2013 11:51

My colleague has been trying to buy 100000 shares at 19.5p, but with no success so far.

[aaainvestment] 14/11/2013 08:15

Not long now and we'll know our fate, clearly there has been some selling but I've topped up as IMO worst case scenario is making a 10% profit.

Must admit though it requires a high apetite for risk to press the buy button.

I have been involved in a number of takeover situations in the past and have always made a nice profit in the end, so that gives me some confidence.

[aaainvestment] 10/11/2013 22:45

Long-term holder, short-term holder, it is of no consequence as is what you paid for your shares.

Everyone except those that hope to gain advantage from a lower price (they includes any representatives of the Belphar team that might try to influence opinion) everyone should be looking to maximise the return on their investment - who can disagree with that?

That IMO is best achieved by pushing belphar to consider upping their offer to a reasonable level, what have we got to lose?

I was buying shares when the price was sub 10p, when everyone thought PAN(BTC) was finished but that doesn't stop me wanting the absolute maximun for my investment - if I though 22p was the maximum available I would be happy but I'm absolutely sure we could get nearer 40p if a fight a gainst belphar is conducted properly. You don't win by being passive.

I believe we are being lined up by someone or some group of very rich individuals and they intend to make a killing on their investment.

In the past I have found links from PAN to at least 3 billionairres in addition to 2 very well known corporate raiders, and that doesn't even include the 2 individuals who own Alinos (our partner in Rosbunker). These people appear in the Forbes rich list of the worlds richest men. I believe at least 2 of those billionairres have had(have) a financial interest in PAN. In short, PAN operates in a world of very rich individuals and I beleive we have been stalked for some time and we need to ask ourselves are we really invested in such a bad company that we need to basically dump our shares. Whoever is raiding has very deep pocket but will gain very great satisfaction from short changing us IMO

I may well be delusional but I understand only too clearly that I must defend my interests, PAN have a great business model and IMO we are on the verge of being recognised by the market.

Just a comment on our resident spoiler, KOB, as he won't go away, it looks like rather a fortuitous distraction for Belphar, someone who has suddenly found a vioce and seems hell bent of capping HIS OWN investment returns go figure!!!

[king of bongo] 10/11/2013 13:58

pantastic defines "Long Term Holder" as someone who intends to read out his or her PAN holdings to St. Peter at the Gates.

You can't blame me for having a big long term swinging banana at the moment.

KOB

[kannerwas] 10/11/2013 13:47

I still have part of my holding, bought at 14p exactly on 9 Nov 2009. Is that long term enough?

[king of bongo] 10/11/2013 13:01

Definition of 'Long-Term Investments'
An account on the asset side of a company's balance sheet that represents the investments that a company intends to hold for more than a year. They may include stocks, bonds, real estate and cash.


................................

KOB has not just intended, KOB has dunnit.

[pantastic] 10/11/2013 12:53

You cannot be a long term holder and someone who bought in at 14p.

That is like being a vegetarian and eating chicken.

[king of bongo] 10/11/2013 12:23

I don't know who you are referring to pantastic, I am by most definitions a long term holder. The current potential offer looks fine, obviously I would like more but we don't always get what we want in life.

My philosophy is, if current management cannot unlock the value in RB, then one has to have some respect for those that do march in and try to do something with it (assuming that is the plan).

I am applying a strategy of Patiently Waiting.

Enjoy your weekend.

KOB



"Everything that irritates us about others can lead us to an understanding of ourselves."
― C.G. Jung

[pantastic] 10/11/2013 09:10

Good post there by AAA. Voting against both resolutions costs nothing but could help prevent the 22p becoming reality. Doing nothing is giving up without a fight which is not how PAN does things and shouldn't be how it's shareholders behave.

So listen to AAA and myself or listen to the AA meeting attendee who likes to push fruit deep inside his bottom. Every board has someone who bought in at an impossibly low share price and then says nothing until apparently selling out right at the top without even trying to achieve fair value.

I have decided to continue to administer my bananas orally rather than immediately surrender at the first sign of a struggle although I believe the latter might be acceptable in a small number of countries.