Sunkar Share Discussion Threads

[one day soon1] 06/8/2014 13:09

Hereford If that was the case then surely they would rns that as soon as it was reached and why are they employing a proxy to phone shareholders as per yesterdays post from The Skipper?

[hereford29] 06/8/2014 12:57

I was told a couple of weeks ago that they would reach 90pc, so I believe they must already know they are able to do so, via various shareholdings in nominee accounts on top of the current acceptances and conversion of the loan note to equity.

[one day soon1] 06/8/2014 12:55

Received this today in response to my letter!

To the extent that your complaint relates to matters which are subject to the AIM Rules or Nomad Rules, as indicated above, we can assure you that AIM Regulation investigates all complaints that relate to potential breaches of the AIM Rules or Nomad Rules. However please note that for reasons of confidentiality we are unable to update you on how matters are subsequently dealt with, nor can we provide you with information on the outcome of any work that is undertaken pursuant to your concerns. You will appreciate that confidentiality is essential in maintaining the integrity of our work.

Thank you for bringing your concerns to our attention.

Kind regards

AIM REGULATION

[danandrews] 06/8/2014 12:27

Today i discussed this situation at length with both HSBC and Capita who are registrars for SKR. Both have advised that SAPC do not intend to trade on either LSE or KASE going forward. The intention is to take the whole company private. Three scenarios to end game await, SAPC reach 90%, SAPC offer new offer price, SAPC withdraw offer.
Either way de listing is expected tomorrow.

[one day soon1] 05/8/2014 20:36

Hereford, Is there any possibility of grouping together shareholders to make a class action?

[hereford29] 05/8/2014 19:58

I doubt they will offer any more. I have around 450k, I'm not selling I will wait till it is mandatory, then I will object, try a civil action lawsuit or something like this, I'm sure HP's lawyers have some spare time from suing mike lynch to take on some pro bono Work :)

[one day soon1] 05/8/2014 18:59

Hi Skipper,
Yes 5p would be much better I have 275,000 at an average of around 11p ouch!

[one day soon1] 05/8/2014 17:29

Hi Skipper,
I think you told us earlier how many shares you have but I cant remember. I just wondered if you have a significant amount or something??

[the skipper] 05/8/2014 16:45

hereford, you must have missed my earlier post. A company called Boudicca Proxy Consultants called me this morning, acting for SAPC. Their contact details are in my earlier post. As Dan suggests if they try to mop up a significant amount of stock via the market they would drive the price up in no time, so maybe they were just trying to encourage some panic selling?

[danandrews] 05/8/2014 16:26

With the erratic nature of the SP, if they were to buy on the market now they would no doubt end up buying shares at a price higher than the offer price which would look rather unjust to those who have accepted this petty offer.

RNS Number : 2242L
In the event that SAPC or its nominees or brokers (acting as agents) purchase or make arrangements to purchase Shares for a higher price than the Offer Price, the Offer Price will be increased to match the higher price paid outside the Offer.

[hereford29] 05/8/2014 16:14

who is calling? that seems very strange to me, why call round to see who will accept if you can still buy shares yourself on the open market?

[danandrews] 05/8/2014 16:09

I haven't, the RNS confirmed that they had received shareholder info.

[the skipper] 05/8/2014 15:56

What amazes me is how they got hold of my contact details since my shares are held in a nominee account and i would have thought that the Data Protection Act would prevent my broker from passing on details. Has anyone else been contacted yet?

[the skipper] 05/8/2014 15:56

What amazes me is how they got hold of my contact details since my shares are held in a nominee account and i would have thought that the Data Protection Act would prevent my broker from passing on details. Has anyone else been contacted yet?

[one day soon1] 05/8/2014 13:13

August ok thanks.

[augustusgloop] 05/8/2014 13:09

one day

its standard notification:

It means that if you accept their offer, you can't change your mind and accept a later offer from someone else.

But any change to their offer applies to everyone that has accepted it.

[one day soon1] 05/8/2014 13:05

Hi Dan and Skipper Just got off the phone with Lloyds and yes re your post Skipper that is also what I was told. The offer remains open even if they do de - list.
dan re your point My letter says that If I accept 1.853p then I cannot then accept any other offers at a later date so I am confused.
I will try and find the letter and post the relevant section. This is why all along I believe that the `hangers on` could have a chance to accept a higher offer as it wouldn`t cost them that much more.??

[danandrews] 05/8/2014 12:38

One day only if the initial offer price closes, if they up the offer the offer price is to one and all. This is confirmed by both HSBC and RNS.

[the skipper] 05/8/2014 12:33

Nope...the offer remains open for acceptance and they have to give fourteen days notice before withdrawing it.

[one day soon1] 05/8/2014 12:33

This is the question I have asked the corporate actions dept of Lloyds but I haven't received a reply yet.
Trying to speak to someone who will actually look into it is difficult....!

[bossman1978] 05/8/2014 12:18

But are we not running out of time If they are going to delist on Thursday morning?

[one day soon1] 05/8/2014 11:47

August you are wrong on this point. They do not have to pay everyone. As I stated before. On my letter it states that if you accept the first offer then you cannot then accept a better offer down the line so they can offer a higher price to the hangers on