Rank Share Discussion Threads

[loganair] 06/7/2011 14:43

Possibly to discourage the small private investor to take the 150p Guoco offer. Also on very thin trade.

Remember Goldmans are 100% in charge of what is going on here with Rank.

[boadicea] 06/7/2011 14:29

Why is the share price now climbing back over 150p?

[loganair] 06/7/2011 14:22

Guoco now at 85.7% of Rank. IMO at least 9 of the 14 major +1% share holders have now sold out to Guoco.

Any small private investor who is still yet to Sell, get out while you can still do so, deadline 15th July, other wise shares will almost certainly be delisted.

[loganair] 06/7/2011 09:10

3/4 page write up in yesterdays Telegraph "Rank's handling of the bid has displayed all the aplomb of a Carry On Film."

Except fot the first 8, all the other Carry On Films where made by Rank.

First 2 weeks of bid for Guoco to take holding from 41% to 56%, one more week to 66% then a couple of days later to over 80%.

Both Telegraph and IC say SELL and invest some where else.

Once Rank have recieved all their VAT back (£550mln) will mean that Guoco would have paid nothing for Rank. Goldmans have got Guoco Rank for free at the expense of the small share holders. 29% at around 80p per share with the rest at 150p per share would mean that 100% of Rank will cost Guoco a little under £500mln. In fact Goldmans have valued Rank for Guoco at -£50mln from us, the small share holder or to look at it another way the small share holder has paid Guoco £50mln to take Rank of our hands. I'm counting the pension funds as us the small share holder has it is from us where they get there money from.

So this is part Two: Part One - Ian Burke was CEO of Thistle Hotels, taken-over by Guoco with Goldmans advising.

[boadicea] 05/7/2011 13:53

oops - Double posting removed.

[loganair] 04/7/2011 16:47

Virtually all the trades today were SELLs.

If you haven't already sold, it's time to get-out for pastures new.

Goldmans and Guoco have really stitched up the poor old small private investor as we all know that Rank is worth well over 200p per share.

[loganair] 04/7/2011 08:33

Now I see what's going on, Guoco desperately need to reduce the number of acceptances to get them below the 75% level:

Guoco Group owns or has valid acceptances for approximately 85.69% of Rank shares. Guoco Group has also announced that it has received indications of withdrawals of approximately 4.93% of Rank shares which, when taken into account, would reduce the level of Rank shares owned or for which valid acceptances have been received by Guoco Group to approximately 80.76% of Rank shares.

IMO Guoco preference would be to hold as close as possible but still be under 75% of Rank.

At least 6 of the other 14 major share holders (+1%) must now have sold-out. Depending on how many of the acceptances were from small private investors this figure could be even higher at 10.

Again IMO, if the major share holders have sold, it's time to sell if one hasn't already done so.

IMO - Goldmans who have been in charge all along are setting a trap for the small private investor and once the offer has closed even though Rank will be worth considerably more the share price will not rise to reflect this as there will be so little free float left.

[loganair] 04/7/2011 08:25

You couldn't make this up - one day Ian Burke the CEO resigns then literally the next rejoins the board. Plus one day the board say reject the offer, a week later say accept the offer, now a couple of days later say reject the offer.

"Ian Burke has rejoined the Board of Rank as Chief Executive and is to become Chairman and Chief Executive on close of the Offer.

The Board continues to believe that the Offer substantially undervalues Rank and fails to reflect its underlying value and prospects.

The Board believes that Rank shareholders who have accepted the Offer between 17 June 2011 and 1 July 2011 should submit indications of withdrawals.

Independent Directors now recommend shareholders reject the Offer."

[loganair] 01/7/2011 20:55

Guoco now up to 68.1%. At least one of the other major share holders must have sold out to Guoco.

[loganair] 30/6/2011 09:14

"The Offer will remain open for a further 14 days until 1.00 p.m. on 15 July 2011."

So still time to Sell if already not done so.

[loganair] 30/6/2011 07:38

Apart from Guoco's holdings the 15 holders who hold 1% or more of Rank hold a total of 36%.

Therefore if Guoco end up with 60% of Rank would mean that the top 16 holders will hold at least 96% of Rank shares in issue.

Why I think at this moment in time Guoco will not reach the 75% delisting is that when they reach 64% they'll own all the Rank shares except those held by the other 15 large 1% plus holders.

Why Sell? At any time these 15 holders could make a private deal with Guoco, leaving the small private investors holding a fraction of one percent of shares in Rank which in all intense and purposes will be unsaleable, there wouldn't even be a single MM to sell to and Guoco would have no obligation to buy either.

[loganair] 28/6/2011 12:16

CEO Ian Burke resigned with immediate effect. A CEO thought highly of.

With Goldmans in charge of what's going on here, I wouldn't trust them as they are the shadiest of the shady blood sucking banks living off the blood of other people.

I think it's time for all private investors to bail-out as I did last Friday.

[guidfarr] 28/6/2011 12:14

the poker game seems to be nearing to an end and Guoco have emerged as winners - they will soon end up with a first class gaming portfolio for a seemingly quite modest price.

[killieboy] 28/6/2011 12:04

LATEST 28 JUN @ 1118 HRS - DIRECTOR RESIGNATIONS - followed by statement stating:

"Following the announcement by the board yesterday in relation to the offer for the Group by Guoco Group Limited (the "Offer"), Ian and Paddy have expressed to the board their view that, given the feedback received from institutional shareholders since the announcement, coupled with the advice from the Group's brokers' in light of this feedback as to the possible level of acceptances of the Offer, it is now more than likely that the Offer will result in a cancellation of the listing of Rank's shares on the Official List and the admission to trading of Rank's shares on the London Stock Exchange's main market for listed securities"

You just couldnt make it up. I am out of here - good luck to those that remain.

[scrapman] 27/6/2011 14:37

can only hope that hmrc win the appeal , and shove it up Guoco the same way ,Guoco have done us ( with the BOD's help imho)

[loganair] 26/6/2011 13:31

Very Strange - both Threadneedle and Aviva still increasing their holdings. Aviva by over 1% in the past couple of weeks. Obviously they know something we, the small private investor doesn't.

Also, at over 4% each, they both have large enough holdings to be able to liquidate which again we the small private investor will not.

Just to reiterate - On Friday I decided to SELL my entire holding (which by the way didn't show up under trades) as I think there are better places to put my cash at the moment.

[loganair] 26/6/2011 13:14

The Times:

It is game over for Rank Group. Despite its misgivings, the company has told shareholders to accept a ridiculously low offer from the Malaysian billionaire Quek Leng Chan. The assumption was that the 150p a share offer would fail, leaving outside shareholders with a small majority. For some reason it attracted sufficient support to go through 50%, though Guoco said it would retain the listing in London. Analysts had an average target price of 191p, which suggested the shares could have had farther to run. The safest course is for investors to take Rank's advice with whatever grace they can muster and accept these miserable terms.


At least 4% of that extra was L&G.

150p is miserable terms as that just about equates to all the VAT claims Rank has made against HMRC which means Guoco are buying Rank for free. Rank has already recieved £250m back from HMRC which has put Rank in a nett cash position.

This average target price also includes analysts who put out a TP before the latest VAT claims by Rank. Over the past 3 months the average target price is more like 220p.

[loganair] 25/6/2011 13:36

Even so, with 60% plus shares in the hands of one share holder, namely Guoco there will be very little volume of trading going on.

The mm's will not really be interested, all that will happen is the share price will just tread water.

[bill hunt] 25/6/2011 12:38

FYI#

All Global Investments Limited



Mandatory Cash Offer for The Rank Group Plc





The Board of AGIL notes the announcement issued by Rank on 23 June 2011 containing the change of recommendation by its independent directors that Rank shareholders accept the Offer because of the lack of certainty as to whether the listing of Rank Shares will be maintained following the closing of the Offer. This announcement was made without any prior consultation or discussion with AGIL or Guoco.



AGIL wishes to make clear that, as stated in the Offer Document, even though the Offer has become unconditional, AGIL and Guoco intend that the listing of Rank Shares on the London Stock Exchange should continue.



In particular, AGIL has no intention of taking any steps available to it under the Listing Rules to cancel Rank's listing voluntarily while sufficient shares remain in public hands. Moreover, if, as a result of the Offer, less than 25% of Rank remained in public hands, it would be AGIL's intention to discuss with the FSA whether the then free float, having regard to its size and composition, was sufficient for Rank to remain as a listed company. In the event that the FSA determined otherwise, Guoco would explore with the FSA ways in which the necessary percentage of shares in public hands could be restored over a reasonable period of time (as envisaged by Listing Rule 5.2.2G(2)), so far as commercially reasonable.



Guoco continues to believe that Rank has an excellent portfolio of businesses in the UK gaming sector, has a strong executive management team and is well-positioned for future growth. Guoco, which has a proven track record and portfolio of public listed companies under its control, is comfortable with outside shareholders continuing to participate in Rank's future prospects.



Since the Offer became unconditional on 7 June 2011, AGIL has received further acceptances in respect of just under 0.5 per cent. of Rank's issued share capital. At 1.00 p.m. on 7 June 2011 (the first closing date of the Offer) AGIL had received acceptances of the Offer in respect of 15.55 per cent. of Rank's issued share capital, which, together with Rank Shares already owned by the Guoco Group, represented 56.38 per cent. of Rank's issued share capital. At 23 June 2011 (the day before this announcement) AGIL had received acceptances of the Offer in respect of 16.00 per cent. of Rank's issued share capital, which, together with Rank Shares already owned by the Guoco Group, represented 56.83 per cent. of Rank's issued share capital.



The Offer will close at 1.00 p.m. on 1 July 2011.





Capitalised terms used but not defined in this announcement shall have the meaning given to them in the Offer Document.