Tottenham Hotspur Share Discussion Threads

[ukhawk] 07/6/2007 16:14

My understanding is that Enic now have to offer to buy out the remaining shareholders, but they don't have to pay the price that Sugar got. In fact, I'd expect them to pay quite a bit more. Sugar would have to sell that amount at a large discount if he wanted to dump on the open market. It's unlikely that anyone would buy his stake if they didn't have an agreement to buy Enic's as well, which Enic knew of course !

[cambium] 07/6/2007 16:10

ttnm announces a bid and they are top ten losers on the day, got that wrong somewhere, come on Alan, get one of your apprentices down there to negotiate a better deal for you

:o)

[matt9991] 07/6/2007 16:05

since they do not intend on delisting from aim, you dont have to sell your shares. They are just picking up shares on the cheap by the looks of it.

[cyberpost] 07/6/2007 16:01

katsy.. read the last financial results... the preference shares are clearly stated in there.

[katsy] 07/6/2007 15:59

ukhawk - how of these preference shares and why don't AFVFN show them, and why no mention of them in the total voting rights RNS.

[ukhawk] 07/6/2007 15:57

Katsy, the valuation takes into account the preference shares.

[katsy] 07/6/2007 15:48

If they value the club at £209.5M based on 92.6M shares that values the club at about £2.25 a share or am I missing something? Help

In aggregate, the Offers value the existing issued Tottenham Hotspur
Ordinary Shares and Tottenham Hotspur Preference Shares at approximately
£209.5 million, based on the Offer Price for each class of Tottenham
Hotspur Shares.

[cockneyrebel] 07/6/2007 15:41

Taken Sugars stake -

They are basically getting Spurs for 113p imo. Might give ordinary holders more if they buy the whole lot but it prevents another bidder basically (I think)

CR

[cyberpost] 07/6/2007 15:39

Daniel Levy is buying out the club on the cheap ?

[matt9991] 07/6/2007 15:38

it looks a done deal tbh.

the item i posted earlier was from bbc. I wonder if it has prompted enic to make the offer? Maybe they want complete control to sell on at a higher price?

[cyberpost] 07/6/2007 15:37

oh i see he is still the 2nd largest holder with 13%

[cyberpost] 07/6/2007 15:36

sugar ? he is not there any more..

[cyberpost] 07/6/2007 15:35

this explains it :

ENIC set to make 113.6p/shr offer for Tottenham Hotspur
Date : 07/06/2007 @ 15:34
Source : TFN
Stock : Tottenham Hotspur (TTNM)



ENIC set to make 113.6p/shr offer for Tottenham Hotspur


LONDON (Thomson Financial) - Tottenham Hotspur PLC's majority shareholder ENIC Ltd is set to launch a full takeover of the Premiership football club after agreeing an option deal which values the club at 209.5 mln stg.

ENIC has entered into an agreement with Amshold under which it has been
granted a call option to buy 13.6 mln Tottenham Hotspur shares from Amshold on
July 2 at a price of 113.6 pence per share.

If ENIC does not exercise its option, Amshold has been granted a put option
exercisable on July 3 to require ENIC to buy the shares.

The move, which raises ENIC's shareholding from 54 pct to 66 pct, will
trigger a mandatory takeover offer for the whole club.

[cambium] 07/6/2007 15:35

But they want to maintain the AIM listing, I just think they want rid of Sugar

[katsy] 07/6/2007 15:34

Don't fully understand this news yet, still digesting it, but it sounds like ENIC want to take 100% control by aquiring as many shares as possible then taking it off the stock market.

[arja] 07/6/2007 15:25

odd offer below the market price . I took a small loss a few days ago selling at 133 after buying at 135.7 . Normally it would have been a bad move as it was just before takeover offer!! looks like a done and dusted deal if i understand it correctly !

[cyberpost] 07/6/2007 15:03

Offer for Tottenham Hotspur

RNS Number:9839X
ENIC Limited
07 June 2007

Not for release, publication or distribution, in whole or in part, in, into or
from the United States, Canada, Australia or Japan or any other jurisdiction
where it would be unlawful to do so.


PRESS ANNOUNCEMENT

FOR IMMEDIATE RELEASE

7 June 2007

CASH OFFERS

by

ENIC INTERNATIONAL LTD

for

TOTTENHAM HOTSPUR PLC


Summary

- ENIC International announces that it has today entered into an agreement
with Amshold under which ENIC International has been granted a call option
exercisable on 2 July 2007 to purchase from Amshold 13,646,026 Tottenham
Hotspur Ordinary Shares and 5,358 Tottenham Hotspur Preference Shares for a
total cash consideration of #25 million, representing a price of 113.6
pence per Tottenham Hotspur Ordinary Share and #1,773.77 per Tottenham
Hotspur Preference Share. If ENIC International does not exercise its
option on 2 July 2007, Amshold has been granted a put option exercisable on
3 July 2007 to require ENIC International to purchase those Tottenham
Hotspur Shares on the same terms as those of the call option set out above.

- In accordance with the provisions of Rule 9 of the City Code, ENIC
International further announces the terms of mandatory cash offers to be
made for all of the issued and to be issued Tottenham Hotspur Ordinary
Shares and Tottenham Hotspur Preference Shares, other than those Tottenham
Hotspur Shares which are already held by it or in which it is interested
under the terms of the Amshold Transaction.

- The Offers will be 113.6 pence in cash for each Tottenham Hotspur Ordinary
Share and #1,773.77 in cash for each Tottenham Hotspur Preference Share.

- In aggregate, the Offers value the existing issued Tottenham Hotspur
Ordinary Shares and Tottenham Hotspur Preference Shares at approximately
#209.5 million, based on the Offer Price for each class of Tottenham
Hotspur Shares.

- The Ordinary Offer will, when made, be conditional only upon valid
acceptances being received (and not, where permitted, withdrawn) in respect
of such number of Tottenham Hotspur Ordinary Shares which, together with
the Tottenham Hotspur Ordinary Shares currently held by ENIC International
or acquired under the Amshold Transaction and any further Tottenham Hotspur
Ordinary Shares acquired or agreed to be acquired during the Offer Period,
will result in ENIC International (together with any person acting in
concert with ENIC International) holding Tottenham Hotspur Ordinary Shares
carrying more than 50 per cent. of the voting rights of Tottenham Hotspur.

- The Preference Offer will, when made, be unconditional.

Commenting on the Offers, the board of ENIC International made the following
statement:

"Tottenham Hotspur has made significant progress in the six years since the ENIC
Group first became a shareholder and we believe its future prospects are
encouraging. ENIC International has now taken the opportunity to increase its
shareholding in Tottenham Hotspur, taking it from 54 per cent. to 66 per cent.
on a fully diluted basis, as a sign of its long term confidence in the club and
to provide ongoing stability to the club. Although the agreement with Amshold
has triggered offers under Rule 9 of the City Code, it is our current
expectation that Tottenham Hotspur's AIM listing will be maintained."

This summary should be read in conjunction with the full text of the following
announcement which sets out further details of the Offers. The Offers are
subject to the terms and conditions set out in Appendix I and to the full terms
and conditions which will be set out in the Offer Document, which will be posted
to Tottenham Hotspur Shareholders in due course.

Certain terms used in this summary and the following announcement are defined in
Appendix III to the announcement.

[katsy] 07/6/2007 09:19

Matt9991 - I've searched the Daily Mail online and can't find any reference to this?

[matt9991] 07/6/2007 08:21

Norwegian shipping billionaire John Fredriksen is understood to be one of the people interested in buying Tottenham. (Daily Mail)

[kirtonender9] 05/6/2007 22:44

I sold my original stake this morning and kept the remainder for free.

[arja] 05/6/2007 08:52

maybe party over or just consolidating before kicking higher again ??

[arja] 04/6/2007 12:18

not now- down on day ! may mean nothing hoefully !

[cockneyrebel] 04/6/2007 08:03

Making new all time highs today, major breakout :-)

CR

[cockneyrebel] 03/6/2007 15:17

you hope :-)

CR