Taihua Share Discussion Threads

[lyonst5] 05/4/2017 08:48

Why did they not just do a scheme of arrangement for the remaining shares as there is such a small non Chinese shareholder base now ?
Why run the risk of having unknowns involved in a private company, when for a paltry amount of money they could get it all sewn up properly.

[oxtail2015] 05/4/2017 08:43

Wonder what these scum bags are going to offer for our shares.

[edmundshaw] 05/4/2017 08:25

I apologise for helping them; I jettisoned these 2 to 4 months ago. After nearly 10 years I thought they had had enough time to change their ways... It's a relief, and the portfolio now looks so much better.

[lyonst5] 05/4/2017 08:23

Now you see why the company refused the last UK shareholder visit and wont release any information or pictures of the updated factories.

[lyonst5] 05/4/2017 08:06

I think we now see a scrabble from the Chinese board to buy up panicked shareholders shares, to increase their stakes on the cheap and make sure they win the vote.

[edmundshaw] 05/4/2017 08:02

With a hey, and a ho, and a hey-nonny-no,
These pretty country folks would lie
In springtime, the only pretty ring time,
When birds do sing, Hey ding a ding, ding.
Sweet lovers love the spring!

[lyonst5] 05/4/2017 07:36

So after the shenanigans and all the nonsense of the placing and buyback their ulterior motive was only too increase their % and do a Chinese takeaway.
And now a general meeting to rubber stamp this legal theft.
The Non exec's and Nomad have allowed the executive to get away with this, they have even penned the RNS for them to state that the Chinese board members would like to purchase the shares after this bombshell of an announcement.
Dismal.

[che7win] 05/4/2017 07:13

Delisting, but the Chinese investors willing to buy back shares on the cheap from you...

[lyonst5] 10/3/2017 12:46

So i will surmise after JTCod's TR-1 that the remaining buybacks were UK based and the more recent investors from China have not decided to sell down so i get officially 72% holding to the executive board and Chinese investors. Though we do have buying of millions of shares being bought up before the buyback offer that still remain unaccountable.

[edmundshaw] 09/3/2017 17:22

Cannot blame him. I all but out here too.

[oxtail2015] 09/3/2017 16:28

Jtcod had enough another English investor gone.

[lyonst5] 22/2/2017 18:48

Scheme of arrangement 75% acceptance, squeeze out 90%.

[oxtail2015] 22/2/2017 18:38

thought it was 90% for a squeeze out?

This guide provides an overview of English law’s squeeze-out provisions. The relevant statutory
provisions are contained in Part 28 of the Companies Act 2006 (“CA 2006”), and allow a bidder to
compulsorily acquire the shares of non-assenting minority shareholders.
This guide will focus on squeeze-out rights, however, please note that minority shareholders also
have the right to be bought out by the bidder (“sell-outR21; rights).
Alternatively, the bidder may opt for a scheme of arrangement under Part 26 CA 2006 to remove
minority shareholders, especially in circumstances where the bidder is unable to meet the 90 per cent
threshold (discussed below). The bidder will, however, almost always require the support of the target
company to implement a scheme of arrangement.

[lyonst5] 22/2/2017 18:16

Oxtail, If it comes to a scheme of arrangement or squeeze out the companies cash could not be used to buy out the minority holders as far as i am aware.
The concert party would have to stump up cash of its own first before it could get its fingers into the companies coffers only after going private.
I think some of the new Chinese holders would have little problem raising a bit of cash between themselves.

[oxtail2015] 22/2/2017 18:00

what price can they get away with if the tender was 3.28, 5p? the company has no money
left.

[tonytwotouch] 22/2/2017 16:53

nick selling could be a head fake...the bod have consistently underwhelmed across the board...going private methinks and at fraction of ipo price...may be wrong but past performance lends credence to this possibility methinks!

[davydoo] 22/2/2017 15:24

fair points lyonst

[lyonst5] 22/2/2017 14:59

Davydoo, Nick selling down his stake was no surprise. So anybody who got cold feet due to that had been given the opportunity to sellout. The question now is the resulting state of the share register and the amount of free float. If people turned down 3.3p for whatever reason why would they want to sell out now for less now especially when the large Chinese holders have not sold and now seen their % holdings increased.

[lyonst5] 22/2/2017 14:42

Good to see that a correction RNS put out. At this point i would recommend the company does a Section 793 notice on its shareholders and sets the share registry straight rather than waiting around for new TR-1,s to be submitted.

[davydoo] 22/2/2017 14:32

I am amazed the share price has not fallen today.

The non exec Chairman, and crucial link to the business in China has just sold his entire holding at a huge loss!

[oxtail2015] 22/2/2017 08:10

Just a waiting game now then,see what peanuts we are offered.

[lyonst5] 22/2/2017 07:34

So if the other large private holders in China have not reduced that will then make 78% of shares in Chinese hands. A proposed scheme of arrangement is now only mere icing on the cake now.

[duplicate book] 22/2/2017 07:26

I take it the price Nick sold his shares for is a printing error?

[oxtail2015] 22/2/2017 07:21

That's a big loss for nick he won't be around for to much longer.I take it the surplus cash not used will be going straight to the bank (working capital).

[lyonst5] 22/2/2017 07:10

Well a 7am RNS. No surprises with Nick selling out his shareholding, can we expect a further announcement to follow on from this ?