Pinewood Shepperton Share Discussion Threads

[haroldthegreat] 11/7/2011 07:40

ok they have 70% plus what next. do we keep or do we sell? will htis be like regal and the price rise above the offer? or are we stuck with a share that nobody will want because of peels large holding?

[dashton42] 08/7/2011 09:56

Well, Peel will have some loose change to mop up shares it doesn't already own:

[haroldthegreat] 08/7/2011 07:53

60% peel 27% james 13% still not owned by these 2.

[dashton42] 08/7/2011 06:20

I guess that's right. Presumably though Peel need to somehow get Warren James to sell, or else throw in the towel?

I wonder why Warren James are still buying though, as they'd already thrown a huge spanner in the works when they reached 25%, and prevented the delisting? You'd have thought they'd already done enough to secure their long-term shareholding, which was their stated aim.

This is definitely one to keep an eye on...

[haroldthegreat] 07/7/2011 18:41

having not accepted peels offer i presume these will keep trading and one can sell later to warren james who appears to be still buying in the market.

[dashton42] 07/7/2011 15:27

Warren James upped its holding again, now on 27.09% of PWS voting rights. Respectable share volume today. Hmm..

[dashton42] 24/6/2011 05:53

Quite a clear summary of the PWS situation so far in the Guardian:

[dashton42] 24/6/2011 05:37

Re. delisting PWS, this from FT Alphaville yesterday:

NH
breaking

NH
Warren James Holdings can now stop Pinewood from being delisted

Pinewood Shepperton PLC (PWS:LSE): Last: 210.00, down 0.5 (-0.24%), High: 211.25, Low: 210.00, Volume: 1.89m

NH
they have 25%

NH
unlucky MR Whittaker

BE
Diamond geezers.

[dashton42] 23/6/2011 15:08

Ah yes, sorry, missed the CFDs.

I'd love to be a fly on the wall behind the scenes at Warren James. Where does the European investment fund mentioned by the FT fit into this? And what does Peel do now?

I wish I was a M&A guru...

[haroldthegreat] 23/6/2011 14:46

voting rights are now over 25% see rns. does this mean peel can offer more to secure their shares or do they have to offer more to everyone under those circumstances. similar situation to regal where those that did not accept their offer saw the shares rise above the offer price after the shares that were offered had been accepted. its possible that the company could be delisted and taken private?]

[dashton42] 23/6/2011 14:34

I thought it was 21.85%? In any case, they're still building their holding, despite not "currently" planning to bid for the company.

I can't work out what's going on here, but the wording of their recent statement was interesting - i.e. "no CURRENT intention of making an offer", and "...its ongoing strategy of building a long term...holding in Pinewood".

Presumably it can only be a long-term holding if they can stop Peel getting 75% of the shares and delisting them...

[haroldthegreat] 23/6/2011 14:21

over 25% of voting rights now held by warren james. what now?

[haroldthegreat] 22/6/2011 11:55

3.75 million shares traded today,so far

[haroldthegreat] 21/6/2011 18:07

why would anyone accept 2 when tonight theywere paying 210 and selling at 217? how much further to rise. over 250 and crystal amber can sell

[zeppo] 21/6/2011 14:54

There is no sign of another bidder.

You can get a little more on the market and get your cash a bit quicker.

z

[haroldthegreat] 21/6/2011 12:17

what now. unconditional sell to peel or wait ? is another offer likely? warren james 17%

[dashton42] 17/6/2011 15:29

and..



Finally:

[haroldthegreat] 17/6/2011 12:05

nearly half a million shares traded today above £2 . no rush to take the offer.another situation like regal petroleum

[dashton42] 17/6/2011 09:59

More PWS news on FT Alphaville:

UK M&A wrap
Posted by Neil Hume on Jun 17 09:38.

John Whittaker has responded to the stake-building efforts of Warren James Holdings.

The billionaire property developer has been able to declare his £96m offer for film studio Pinewood Sheppterton unconditional as to acceptances on Friday morning, and repeated his intention to de-list the business (if he gets enough votes).

This morning's statement from Whittaker's Peel Holdings:


It is the current intention of the Board of Peel Acquisitions that if the Offer becomes or is declared unconditional in all respects and if Peel Acquisitions then holds over 75 per cent. of the issued share capital of Pinewood, Peel Acquisitions will procure the making of applications by Pinewood to the FSA for the cancellation of the listing of Pinewood Shares on the Official List and to the London Stock Exchange for the cancellation of admission to trading of Pinewood Shares on its market for listed securities. It is anticipated that such cancellation will take effect no earlier than 20 Business Days after the Offer becomes or is declared unconditional in all respects.

The question is whether he will get to 75 per cent. If he doesn't, a stub of Pinewood equity will remain listed on the LSE.

He's already got 63.3 per cent in the bag, so the odds are that he will prevail. that said, we still don't know precisely how much stock Warren James has bought. All we do know is that they owned around 5 per cent before yesterday's rumoured purchase of a further 10 per cent. And 15 per cent will be enough to prevent Whittaker from squeezing out minority shareholders.

[dashton42] 16/6/2011 14:18

Good spot!

[roscodagama] 16/6/2011 14:14

Brewer Dolphin picked up 8.8 million shares at 210p according to Alphaville.

More here:-

[dashton42] 16/6/2011 12:59

Anyone know why the heavy volume and rise above the offer price?!

[haroldthegreat] 19/5/2011 14:50

if they will not accept 250 they must think its worth more! perhaps someone else will bid more. hopefully soon otherwise shareholders will accept the £2 on the table