Parseq Share Discussion Threads

[harrytrad3] 19/9/2011 17:08

Or perhaps my emails to P Blundell, or a host of other dissatisfied shareholders Shame is that the announcement (unsanctioned as it is by RC) merely puts a lid on share price for a 4 week period me thinks.

I think I will write to that interested commentator flagged up last week

[mel_d1] 19/9/2011 16:40

Darias, it occured to me that it might have been your email that got the management worried about small investor dissatisfaction may lead to bigger problem for them, and it could have been your email that got them to come up with some progress report and date.

[harrytrad3] 19/9/2011 15:06

Darias, there is many a slip between lip and cup.

I would rule nothing out and nothing in at this stage.

[darias] 19/9/2011 15:05

Harrytrad3/Mel_D1

There is no indication of disunity in the boardroom. I like to think that it was my emails to Rami and threats on this bb that persuaded the board to release todays news however I may be overestimating the consequences of those activities. The point is that Rami, according to the announcement on 1st September is working with Ivor and Phillip. I reproduce the news of 1st September in case you missed it.

I agree with Mel that it is not worth buying at this price however if it drops below 7 may be worth a dip.

3. POSITIONS OF PERSONS ACTING IN CONCERT WITH THE PARTY TO THE OFFER MAKING THE DISCLOSURE


Details of any interests, short positions and rights
to subscribe of any person acting in concert with
the party to the offer making the disclosure:
----------------------------------------------------------
ORDINARY SHARES
Holding as %
Number of of Total
Ordinary Voting
Director Shares Rights
---------------- -------------- --------------

Richard Last 8,975,447 2.1%
---------------- -------------- --------------
Clive Richards 26,905,913 6.2%
---------------- -------------- --------------
Phillip
Blundell 1,841,000 0.4%
---------------- -------------- --------------
Simon Rubin 644,097 0.1%
---------------- -------------- --------------
OPTIONS
Under the terms of the unapproved Share Option Scheme
1998 No 3 Scheme and the Enterprise Management Incentive
Scheme, the Directors have an interest in options
over ordinary shares of 1p each of the Company as
follows:
CLIVE RICHARDS:
Number Exercise Date from
of Price which Expiry
Options (pence) Exercisable Date
--------- ---------- ------------ -----------

400,000 4.0 04/02/2004 04/02/2013
--------- ---------- ------------ -----------
PHILLIP BLUNDELL:
Exercise Date from
Number of Price which Expiry
Options (p) Exercisable Date
---------- --------- ------------ -----------

300,000 4.5 27/09/2004 27/09/2011
---------- --------- ------------ -----------
1,250,000 4.0 04/02/2004 04/02/2013
---------- --------- ------------ -----------
1,500,000 3.25 27/01/2009 26/01/2016
---------- --------- ------------ -----------
1,000,000 9.125 09/02/2010 09/02/2017
---------- --------- ------------ -----------
500,000 8.25 23/01/2011 23/01/2018
---------- --------- ------------ -----------
237,500 8.375 21/04/2012 21/04/2019
---------- --------- ------------ -----------
----------------------------------------------------------

[mel_d1] 19/9/2011 14:58

Facts of this nature, if at all existed, would be closely guarded. Supposition only Harry. I, too, am in the dark.

[darias] 19/9/2011 14:29

The announcement of 1st September stated that parties to the offer had 44% of the shares. It may be that Ivor Richards and Phillip Blundell have fallen out with Rami however the announcement today indicates to me that either an offer of 7.5p will be made by Bidco or another bidder will come in bidding little more than 7.5p or the bid will be less than 7.5p as people sell shares at around 7p.

I am not predicting that as a future situation I am saying that based on my experience with other companies, and I have named two, it is the most likely outcome. As for football results I make a prediction here and now,

A Manchester club will win the league this year. Hows that.

[potpit] 19/9/2011 14:24

I don't know. There's no definate offer yet, Rami didn't consent to releasing any info so can we take it there might be some dissent in the boardroom? Reminds me a bit of the Regal takeover last year. The Regal takeover seemed like a done deal at 24p as the offeror was sitting on about 40% of the company. They played all sort of little mind games to try and get Regal on the cheap just like Rami is trying to get our company on the cheap here. In the end the offeror company ended up with only 2% of other shareholders accepting, and they had to increase offer by 50% and promise to keep the company listed just to get any interest in the offer. IEN is worth more than this, so i'm gonna vote No (on principle)in the event an offer materialises at 7.5p

[harrytrad3] 19/9/2011 14:21

Darias it is not written in stone that this company will be sold for 7.5 or 8p a share. Although if RC does not manage that he should in my view fall on his sword.

Tell me how you know that and if you have a line into the future perhaps we can then look at some up coming football match results as well.

[harrytrad3] 19/9/2011 14:16

Is your commentary MelD based on fact (boardroom disunity) or supposition?

[darias] 19/9/2011 14:00

potpit

I felt in a similar position with the first shares I bought, Nightfreight. I made a little money but should have made more when they went private. Another company in the early days, VHE was also taken out at a cheap price. You do the research find a gem and then the big and powerful go for the quick profit. Whether 7.5p is having a laugh is neither here nor there this company will get taken out for 7.5 to 8p.

That is the way of capitalism. You shrug your shoulders take the money and move on.

[darias] 19/9/2011 11:40

Interims were presented last year on the 22nd September. As far as I know there is no rule that says that interims need be presented within a time limit. There is a rule for Annual accounts but that is not relevant at this stage. Why should interims be required by a certain date as they are not audited and can, therefore, be relatively inexact.

As far as RC is concerned it is my view that the announcement means that he cannot make produce another vehicle for his offer. If his name were not part of the bid then, I suppose he could.

He did not have 4 weeks from the first announcement as the board had not set a time limit. They have now.

[harrytrad3] 19/9/2011 11:11

Interims are due this month.

Viz todays announcement does it just serve to cap the price for the next 4 weeks?

What if interims are very good? Where has the share price got to go? And Has not RC already had 4 weeks?

Can he get a further 4 weeks in October by changing the comapany vehicle he ponders an offer through?

[the heed] 19/9/2011 08:50

Intrims on Wednesday no??

[harrytrad3] 19/9/2011 07:48

I dont think RC and his sunshine band will get it through somehow. He is welcome to take back Documetrix though at that price and leave IEN unfetterd.

[abbey8] 19/9/2011 07:35

Good Morning all , in todays market , any profit makes me feel happy.gl

[darias] 19/9/2011 07:08

Well Bidco were incorporated on the 3rd August.

Current Appointments
Number of current appointments: 2





SECRETARY: SEED, LOUISE BARBARA

Appointed: 03/08/2011

Nationality: NATIONALITY UNKNOWN

No. of Appointments: 1

Address: WOODEND FARM

DUNS

BERWICKSHIRE

TD11 3QW






DIRECTOR: SEED, JOHN MICHAEL MR

Appointed: 03/08/2011 Date of Birth: 16/02/1958
Nationality: BRITISH

No. of Appointments: 33

Address: WOODEND FARM

DUNS

BERWICKSHIRE

TD11 3QW

Country/State of Residence: UNITED KINGDOM

[darias] 19/9/2011 06:24

This is also interesting,

"It should be noted that the Potential Offeror has not given its consent to the inclusion of these terms in this announcement."

Is it a flush out for another potential suitor.

[darias] 19/9/2011 06:20

The interesting question is - where will the share price end up at the end of today.

At 7p offer any shrewd trader would take that with a potential bid of 7.5p in 28 days trading time. 7% return in a month cant be bad.