Sunkar Share Discussion Threads

[hereford29] 25/7/2014 14:19

I was promised a chemical processing plant by that fellow in dark sunglasses, I knew I shouldn't have trusted him, looked too much like Ernst Blofeld :)

[hereford29] 25/7/2014 14:10

anyone going to the agm?

[danandrews] 25/7/2014 13:24

Hypothetical, if the offer price were to be accepted and SAPC fail to reach 90%. As a result increase the offer price, will those guys that have already accepted get the value of their shares based on the original or improved offer price?

Currently i have not voted so default has to this date been to reject.

[augustusgloop] 25/7/2014 12:47

The MMs will hold some shares - so they can still trade.

They have been buying at just over 1.7p.
If anyone is foolish enough to pay them 2.5p then they will sell them to you instead of SAPC.

[one day soon1] 25/7/2014 12:32

``I want what I was promised from the outset.``

What and by whom were you promised?

[one day soon1] 25/7/2014 12:29

They are still for sale and no announcement so they haven`t gained 90% We should get a revised upwards offer soon.

[danandrews] 25/7/2014 12:28

I suspect only a small % of shares are actually on offer at this moment, does anyone have access to Level 2?

[hereford29] 25/7/2014 12:24

why would they be for sale if SAPC wanted to buy them? You could buy even more to gain more votes to block them.

[danandrews] 25/7/2014 12:20

Hereford why today would SKR still be trading if the threshold had been passed?

[danandrews] 25/7/2014 12:19

Why would you receive the funds and create a hazardous audit trail? Simply slip a local a bribe and ask them to hold off payment. Welcome to Kazakhstan!

[hereford29] 25/7/2014 12:18

in any event, you can still buy shares in SKR, it is possible to get a firm quote online, so the threshold must be passed, otherwise why would shares be available for sale? SAPC would be buying them in the market which it said it would do when it announced the offer.

[augustusgloop] 25/7/2014 12:17

Hereford,

suppose the contractor is linked to SAPC.

They simply do not pay - not happy with the work.
Remedial work is not completed.
Or some other reason.

Once SAPC gain control then they are happy.

But it doesn't matter anyway because this then simply represents an exchange between the big boss's bank accounts.

How many other miners that you know have contracts for working on railways?
Looked highly dubious from the start.
[As did the contract terms.]

[hereford29] 25/7/2014 11:59

If they are withholding accounts receivable to put the company into a position of insolvency, his is measureable and again should be posted to the takeover panel for auditing. I don't believe this is the case, I believe that payment has already been received and booked.

It isn't enough to say, well, anyone can pretend they haven't been paid, then later, say they have recovered the money or been paid after all. If the debtor wasn't paying the company would have issued a winding up notice against them.

[danandrews] 25/7/2014 11:37

Have done so Hereford......Your correct August, but we both know once SKR are taken private this money will miraculously appear....SAPC are pulling strings back home.

[augustusgloop] 25/7/2014 11:31

They will get 90%.

If you all hold out with 15%

then SKR will just announce that they have run out of money.
They will issue shares to an 'independent' third party, who will then vote with SAPC and hey presto - its taken private.

++---------

Plus - look at the end of that RNS

Are they really continuing to occur expenses working on a contract that is so delinquent that they are already owed $10m?

What sort of genuine business would do this?

[hereford29] 25/7/2014 11:28

send it to the takeover panel then

[danandrews] 25/7/2014 11:21

I have many an email which misleads and implies false hope.

[danandrews] 25/7/2014 11:16

Nurdin is as reliable as Titanic (post iceberg!).

[hereford29] 25/7/2014 11:14

I don't want to sell, I want to remain invested. So if you really believe that there are enough shareholders to block a compulsory purchase, I hope they will all refuse. I will not be happy with a 5p offer, or even a 50p offer. I want what I was promised from the outset.

[hereford29] 25/7/2014 11:12

A Board member.

[one day soon1] 25/7/2014 10:55

Yes who told you that?? It is not over yet. Of course they want everyone to believe that is a foregone conclusion but it isn`t.
Good luck all that are holding! Lets hope we get a better offer soon!

[one day soon1] 25/7/2014 10:51

Hereford,
It will be very close as to wether they get their 90% In any case if they are short of 6 -10% ie those of us that are holding out then they will have to offer abetter price. This is normal in these situations

[danandrews] 25/7/2014 10:48

But I was told it will soon be reached anyway. - Who told you this?

[hereford29] 25/7/2014 10:25

Almas Mynbaev was an NED of Temir when SAPC IPOd Sunkar in 2008. If the 90pc threshold is not reached, then SAPC have a problem, because they would need to put the company into insolvency (according to the offer statement by the Board) which would cost them a lot of money. But I was told it will soon be reached anyway. I imagine SAPC would prefer to buy all the outstanding shares. The only available counter is to prove the takeover was not according to the rules, forcing the Panel to review it and block the de-listing. Allegations of fraud and embezzlement here are worthless without anyone being able to substantiate such allegations or at least demonstrate a breach of the takeover rules to the Takeover Panel.