Superscape Share Discussion Threads

[gmb] 18/2/2008 15:22

TBH contacted Roger Lawson at UK Shareholders Association the telephone No is on [e-mail] web site.
Chairman of the UKSA board is Martin White.
TBH said that Roger Lawson told him that he had done most everything that could be done before the deadline.
They may have things in place that could help with reguard to formalities and letters to FSA

[srsm] 18/2/2008 15:09

Nope.

We need the header updated with this info for all.

Cheers anyway

[abc125] 18/2/2008 13:59

Maybe TBH can fill you in if you send him your tel. number.

[srsm] 18/2/2008 13:53

I don't know much about this stuff but a little more info in the header would help us know where we stand. I plan to write to the FSA or similar but don't have ready access to all the goings on e.g. the contact from a CEO who claims his company has been blocked from doing due diligence on SPS - is this true? who sent the email asking about the issue? is the reply genuine?

And lots, lots more.

A few dedicated chaps appear to have done a lot of work on our behalf but it seems to be being kept a bit of a secret for some reason. I've asked a few times for a summary of who did what to whom but none forthcoming. SPS and GLU are relying on apathy and disorganisation amongst shareholders - no point helping them for a lack of 5 minutes updating the header of this board with the information that would help people contact the relevant authorities.

A sort of example letter would be good indicating e.g. on xth of December company ABC claimed to have miscounted mobile sales and hence royalties to SPS. This information has still not been made available by SPS - could it be in their interests to spread Fear Uncertainty and Doubt. etc etc

And repeated for the other odd circumstances: sale of company just before latest results, 'confusion' over mobile royalties, sale at a time when the market has many distressed institutional sellers, sale during a bear market, allegations that other approaches are being blocked etc etc and presumably other stuff I can't remember and for all I don't have details other than 'I read on a bulletin board....' .

I was at a meeting on another matter recently where letters to someone in authority were required. It was stated that the authority had admitted that they would do nothing until a certain threshold of complaints had been received. So, 9 complaints - no action, 10 complaints bingo, irrespective of the validity of the 9 complaints. The FSA may have the same procedural issue. Sample letters with the facts as best known could be created for we less well informed punters to paste together as best we see fit.


Sorry to go on about this.

[abc125] 18/2/2008 12:00

srsm, can we still call an egm and ask for them questions to be answered?

[abc125] 18/2/2008 11:53

Agree with your sentiment srsm.

[srsm] 18/2/2008 11:50

Another company, Minmet, where there is an EGM due to >10% kicking up a fuss.



Looks like capitulation here even though, in theory, 38% don't want the deal.

Could the header of this thread be updated with all the previously posted contact details? E.g. the Takeover and Mergers panel etc.

All I want is for the disputed mobile sales figures to be made public (they might have sold more than they stated not the less that everyone assumes - you never know) and for the board to wait until the latest sales figures are available.

A list of the large shareholders would also be nice with any evidence as to who has definately sold out (in every sense).

Don't give up guys - even if we lose the act of making a stand makes this kind of thing more difficult the next time and we might make them squirm a bit in the process.

[legate] 18/2/2008 11:35

If Glu don't make the 75% mark, the level they can take the company private, and withdraw their offer of 10p and call it a day then I guess the share price will drop back to about 5p or less!

[troutisout] 18/2/2008 11:16

abc,
Could it be that due to the already given irrevocable undertaking they do not need to, as such sign up, it's a given they have already?
60% gives them control of the Company, someone posted here that at 90% it would go unconditional, however if they reached 75% do they not have enough votes to take the Company private?
I see a few posts stating if PIs with more than 10% held back it would stop it. My experience with takeovers is that over the 90% mark allows the Company to compulsory purchase the remaining shares (this is because many holders will have forgotten they hold, died, lost paperwork, moved and not kept up to date with developments, etc). However once a Company has a 75% holding they can do virtually what they want, because they have enough voting rights for any special resolutions.
So from an outsider looking in, the 60-75% area is the critical point, I am not sure how many they will add in this extension week, but if they aren't a lot closer to 75% then you may see a change of strategy.
Good Luck, there is time for another bidder all the way up to the offer going unconditional.

Trout.

[abc125] 18/2/2008 11:08

TBH....I'd write to Greg Ballard asking him to increase the offer, but I don't think he would take me too seriously because I have wrote one or two unpleasant emails to him. Any one else?

[abc125] 18/2/2008 11:06

wnl....I don't know the legal procedure but Arm (given their irrevocable undertaking) should have signed up on friday.

[who needs lottery] 18/2/2008 10:56

Probably the same reason that we didn't - we all thought that Gameloft would launch a counter bid.

Any feedback from Gameloft how they are getting on? Could be a good day to cause some chaos as BH in the US.

[the bounty hunter] 18/2/2008 10:55

interesting emaim abc. thx for following up

[abc125] 18/2/2008 10:53

Hot, Arm have given irrevoables breakable at 11p, I was just wondering why they did not sign up on friday.

[helen troy] 18/2/2008 10:48

abc,
I don't think they can take out ARM on their own. ARM have committed to give GLU their shares unless a higher counter bid appears. So they can't sell their shares unless another bid appears.

As far as I can see, nobody that has accepted the bid knows if, and when, they will get their money.

HoT

[the bounty hunter] 18/2/2008 10:39

Given they had a significant percentage to start with, the majority of non-committed holders have given this the thumbs down. My reading of this is that the offer is inadequate. Yes they can take control, but they have underpriced this. I intend to stay on the sidelines. If they want a clean acquisition, they should up the price. It is not in their interest to have a minority. Can someone take the lead and write to Greg Ballard.

[figure6] 18/2/2008 10:32

Nice to see you're still as stupid as ever Mike.

[pickymicky] 18/2/2008 10:30

geoffrey

The day I do the same as you is the day I accept that I know nothing.

Given your track record, I fully expect MDX to fall to 8p, get taken out at 11p, and then see you claim you made a profit.

[figure6] 18/2/2008 10:21

Mike read the thread mdx is a cert.Its held back by Gartmore selling 9m shares they acquired at 45p (but they are now down to around 1m shares).You probably have today and tomorrow left at these low prices to buy in at (unless a bid hits the table...they having been talking for over 4 weeks now).Pleased to give you a winner (as I know you could do with one!)

[pickymicky] 18/2/2008 10:16

do you think MDX will go for a substantial premium geoffrey ?

[5dally] 18/2/2008 10:12

Think expected take over prices are not welcome on this thread figure6

[figure6] 18/2/2008 10:10

glu have 60%,its game set and match.Time to get real,sell and reinvest elsewhere.Try MDX,they are being approached by several suitors (7 to 10 have been the numbers bandied on the threads).They are 71p offer and bids are expected to be between £1.10 and several £s.(Only Gartmores selling has stopped the share price rocketing already).

[abc125] 18/2/2008 10:05

Its a long shot, but could someone be negotiating with Arm to take out their stake for 11p?

[soldi] 18/2/2008 09:25

HoT - But on the face of it, other shareholders will be tempted to say 'there's no hope' and capitulate, so that GLU's 'predicted outcome' will then come true. If the various inst. holders are not communicating among themselves, no one but SPS/GLU will (conveniently) 'know' the current take-up situation!

[abc125] 18/2/2008 09:22

Why haven't Arm thrown in their 8%?