Parseq Share Discussion Threads

[darias] 17/10/2011 15:51

So no extension it seems

[darias] 17/10/2011 15:11

We will soon know what the trades were about however.

T/over code

(b) During an offer period, the offeror and persons acting in concert with it
must not acquire an interest in any securities of the offeree company
through any anonymous order book system, or through any other means,
unless, in either case, it can be established that the seller, or other party to
the transaction in question, is not an exempt principal trader connected
with the offeror.

So one must presume that Cassis and his partners did not acquire the shares or they would have been in contravention of the code.

The 49m was made up of three trades.

24.729m @ 7.485
20m @ 7.5
And 4.729m @ 7.5

Now the original indicative offer was 7.5p so I reckon a broker had 24.729m on his books to offload as a call option at 7.5p today on the basis of the indicative price. Blackcurrant hasn't been able to find enough takers to gain the 50% at that price and so someone had to take the shares at 7.5 and has managed to hedge 4.729 to another party.

In any event I reckon there will be no bid because Blackcurrant doesn't have enough promises.

If there was to be a bid we surely would know by now with 24 minutes to go before close of business.

It seems to me clear that he has only been able to aquire another 25m at most which is not enough. I think the bid has been stopped by Richards and Blundell and I am pleased for them.

Only problem as I see it is that there will be a large overhang to dispose off which will keep the price pegged for some time.

This is only thinking allowed you understand. No advice intended.

[abbey8] 17/10/2011 14:59

We will get the news at 4.30 pm today ?

[harrytrad3] 17/10/2011 14:56

Would no announcement today come as a suprise. Not to me.

is it possible that a party other than Cassis bought a further 49m shares: yes.

[rovi57] 17/10/2011 13:29

will just be happy to escape this share with a mini profit

[omicosius] 17/10/2011 13:14

If the offer to buy is at .075p by 4.30pm today then why can I buy shares for .067p now? I presume I would then sell them in 2 hours for a good 5% profit?

Surely that can't be so simple??

[abbey8] 17/10/2011 12:33

Thank you , i got them at 6.9p.

[mel_d1] 17/10/2011 12:20

For it to be pulling a few string by the old IEN chiefs, there need to be another 50m shares traded to make the 30% to make an offer - Given the characteristics of old IEN board - It is NOT. So it has to be the two 6% institiution holders who might have made an under-the-table deal with Blackcurrent! So there will be an offer on the basis of their 50% holding today, because nobody pays 7.5p for 50% for quick in-an-out. There is no gain if you purchase at 7.5 / 7.4pence ps.

[666james] 17/10/2011 12:00

Sorry but I don't understand what is going on but I do know the blackcurrent is a devious barsteward. So stand by your beds and take what is coming !!

[ronaldo49] 17/10/2011 11:57

Mel_D1 Not clear to me either what's going on here. Can someone update us.

[mel_d1] 17/10/2011 11:49

What is 49m trade? I am not so good at research like Darius but my strong feeling is 155m + 49m = 204m which is the C's 50% stake to make the offer before the end of today, at 7.0p or there about; maybe, on the slim chance at 7.5p, by the end of today. At 50% stake all other holders have to take the bitter pill - if I am right.

[abbey8] 17/10/2011 11:45

Sorry , but confuse . com , can some one explain please?

[harrytrad3] 17/10/2011 10:53

I assume a whip hand one way or the other

[bachellor] 17/10/2011 10:45

the trades of 49 mill at 7.5p. what is it?

[potpit] 17/10/2011 10:11

Harry,
Why would Darius want to past that poster by? He only signed up as that alias the same day and trolls like that need to crawl back under their bridges where they belong.

If Mr Blackcurrant wants the company then maybe he should make proper offer with a sensible price instead of trying to get the company on the cheap.

As i've stated before i've only a small holding 7383 shares but i'm not going to accept any derisory offer.

As a matter of principle i'd rather sell mine back to the market, even if it means less money.

Good luck to all serious holders.

[algorithmicx] 17/10/2011 10:10

49.9 Million in trade volume just gone through....!

[harrytrad3] 17/10/2011 09:10

Thanks Darias.

I admire your spirit but I would have thougth no less of you for passing that poster by!

[darias] 17/10/2011 08:44

Rule 2.7 states, amongst other things,

(c) When a firm intention to make an offer is announced, the
announcement must state:
(i) the terms of the offer;
(ii) the identity of the offeror;
(iii) all conditions or pre-conditions to which the offer or the
making of an offer is subject;

[harrytrad3] 17/10/2011 08:19

What is a `firm intention` ie does it specify a price and date or is it just another long finger.

PS thanks Alogarithim

[algorithmicx] 17/10/2011 08:05

"the Potential Offeror must, by not later than 5.00 p.m. on 17 October 2011, either announce a firm intention to make an offer for the Company in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer"

[harrytrad3] 17/10/2011 07:45

Darias why did you both responding?

Where is the announcement? Is today not the day?

[darias] 16/10/2011 13:11

Hi HHML

You set up a challenge so I have looked through my records.

Bought IEN 20/2/02 @ 3.74p and 19/12/02 @ 3.49 Sold 2/5/03 @ 4.51 so no loss there then.

Bought again 24/1/07 @ 8.47 if the takeover happens at 7.5 (which is doubtful) then we would have made a small loss because after the name change the shares we bought at 8.47 were repriced at 7.8p.

So any loss, if blackcurrant is successful, will not remove that profit 8 years ago.

BTW that was for the club.

My own personal dealing in the stock is as follows,

27/2/09 bought at 7.75
7/4/09 bought at 7.7
15/5/09 bought at 9.5
16/7/09 sold some at 9.5
14/9/09 sold some more at 10.13
21/9/09 sold remainder of my holdings at 11p (limit sell automatically sold)
26/1/10 bought again at 9.00
23/2/11 bought again at 6.25
23/8/11 bought again at 6.43

My average price is now 6.89 so if the t/over happened I would be in profit however I would vote against.

I am satisfied with my dealings in IEN/PSQ but how are you doing?