Rpc Share Discussion Threads

[phillis] 10/4/2019 19:43

Not really sure but I note one large transaction at £8
Someones short closure?

[jeffian] 10/4/2019 19:15

Phillis,

Re your #3459, when you said...

"so JPM financial adviser to Berry are buying RPC

writing on the wall I´m afraid"

...I took it to mean that if JPM/GS were buying stock on behalf of Berry, that suggested it was a 'done deal'. I don't know much about this aspect of takeovers but I do note that in many of the Form 8.5 declarations issued by these two, they record both long and short transactions. Does that fit with your thesis or is the short to cover themselves against a drop in the share price if the bid is rejected or fails?

[phillis] 09/4/2019 09:49

Whizzer reading his book again

[quick fit] 09/4/2019 06:22

Many thanks for the reply guys 👍

[billywhizz1] 08/4/2019 19:20

QUICK FIT :

2.9 ANNOUNCEMENT OF NUMBERS OF RELEVANT SECURITIES IN ISSUE When an offer period begins, the offeree company must announce, as soon as possible and in any case by 7.15 am on the next business day, details of all classes of relevant securities issued by the company, together with the numbers of such securities in issue. An offeror or publicly identified potential offeror must also announce the same details relating to its relevant securities as soon as possible and in any case by 7.15 am on the business day following any announcement identifying it as an offeror or potential offeror, unless it has stated that its offer is likely to be solely in cash.
Any such announcement should include, where relevant, the International Securities Identification Number (“ISIN”) for each relevant security.
If the information included in an announcement made under this Rule changes during the offer period, a revised announcement must be made as soon as possible.
NOTES ON RULE 2.9 1. Options to subscribe For the purposes of this Rule, options to subscribe for new securities in the offeree company or an offeror are not treated as a class of relevant securities.
2. Treasury shares Only relevant securities which are held and in issue outside treasury should be included in the announcement.

[phillis] 08/4/2019 19:04

Takeover panel requirement
Obligation to keep the market informed of number of issued shares

[quick fit] 08/4/2019 17:42

bouleversee, could you or any of your friends explain about Rule 2.9 on LSE thanks for your time if you can explain 😃

[bouleversee] 08/4/2019 16:46

Thanks in advance.

[billywhizz1] 08/4/2019 16:27

Chita - What the hell does 'TIA' mean ??

[1954chita] 08/4/2019 10:56

What is the writing on the wall? TIA.

[phillis] 03/4/2019 20:55

so JPM financial adviser to Berry are buying RPC

writing on the wall I´m afraid

[bouleversee] 03/4/2019 19:00

Yes, with this sort of thing you don't hear anything about takeovers of this sort until it's all done and dusted unless you specifically request to be informed and then you get in the post (ridiculous waste of money) a voting slip for every damned AGM even if it's just routine stuff.

If you phone to query anything, you find yourself talking to what sounds like a schoolgirl who knows zilch and doesn't begin to understand what you are talking about.

[bottletop1] 03/4/2019 17:41

Iweb have a Corporate Action facility too, but ive only seen it used for Rights Issues

[jeffian] 03/4/2019 16:42

I was surprised to hear that iWeb actually send out physical Proxy forms. HL simply have a Corporate Actions facility on which you register your vote and they do it for you.

[bottletop1] 03/4/2019 16:09

Both my wife and I have registered our ‘no’ votes on both counts...

Interestingly, we Hadn’t received our voting papers (from iWeb), so I chased them up about it on their WebChat facility, they told me that voting papers were sent out last week but if I didn’t get them, they could take my voting wishes and submit them for me. So, that’s what we did.... can we trust them to do it? Hope so

[bouleversee] 03/4/2019 10:51

Thanks to you also, J. It will be in the post in a few minutes.

[bouleversee] 03/4/2019 10:38

OK, will do; thanks P.

[jeffian] 03/4/2019 10:37

bouleversee,

Complete both. There are 2 meetings, one after the other. The first is for the Court to approve the Scheme and it is important that as many votes as possible are cast, either way, for them to judge shareholder consent. It stands or falls at that point. If it gets through the Court, there will be a general Company meeting immediately thereafter to rubber-stamp the takeover.

"Notices of the Court Meeting and General Meeting
As described in the Scheme Document, to become effective the Scheme requires: (i) that the requisite majority of eligible RPC Shareholders vote in favour of the Scheme at the Court Meeting and the Resolution at the General Meeting; and (ii) the sanction of the Scheme by the Court. The Scheme is also subject to the satisfaction or waiver of the Conditions and to the further terms that are set out in the Scheme Document.
Notices of the Court Meeting and the General Meeting, which will both be held at The Lincoln Centre, 18 Lincoln’s Inn Fields, London, WC2A 3ED on 18 April 2019, are set out in the Scheme Document. The Court Meeting will commence at 11.00 a.m. and the General Meeting at 11.10 a.m. (or, if later, as soon as the Court Meeting has concluded or been adjourned).
It is important that, for the Court Meeting, as many votes as possible are cast so that the Court may be satisfied that there is a fair and reasonable representation of Scheme Shareholder opinion. Scheme Shareholders are therefore strongly encouraged to complete, sign and return their Forms of Proxy (once received) (or appoint a proxy through the CREST electronic proxy appointment service) as soon as possible in accordance with the instructions for doing so."

[phillis] 03/4/2019 10:07

B

you have nothing to lose by voting no twice

[bouleversee] 03/4/2019 09:37

Do I take it one should vote against both resolutions, i.e. the Court Meeting for or against the scheme and the General Meeting to give effect to the Scheme etc? I ask because the form IWeb have sent me is not clear and refers to notes which are not actually there, and I haven't time to go onto RPC's website and read it all up.

[billywhizz1] 02/4/2019 18:44

Hope this announcememt extract helps:

If any dividend and/or other form of capital return or distribution is announced, declared, made or paid by RPC in respect of RPC Shares on or after the date of this Announcement and prior to the Effective Date, the Consideration payable in respect of each RPC Share under the Acquisition will be reduced by the gross amount of all or part of any such dividend and/or other form of capital return or distribution.

[spot1034] 02/4/2019 17:35

That is what they have said (or was it what Apollo said in their offer? - maybe it's what both of them have said!) but could they waive that and allow a dividend to be paid to holders? Assuming they could do so, it would be a way of sweetening their offer a bit.

In fact, thinking a bit further along these lines, could Apollo possibly come back with a statement that whilst their offer for the company is final, they will waive the condition that their offer would be reduced by any dividend and allow the company to declare and pay one roughly at the time this would have happened anyway? A bit fanciful at this stage I know, but would they be able to get away with that?

[bouleversee] 02/4/2019 17:21

That was my recollection, too.