Uniq Plc Share Discussion Threads

[peawacks] 21/2/2011 16:24

THe best explanation I've seen;


At a meeting to be held on the 23rd February 2011 shareholders will be asked to approve a restructuring by
means of a scheme of arrangement under sections 895 to 899 of the Companies Act 2006.
The restructuring involves the company and certain members of the Group being discharged from the existing
pension deficit of more than GBP400 million, in effect, in exchange for a 90.2 % shareholding in the Company
being held by Newco, a newly incorporated non-Group company, and a cash payment to the Pension Scheme,
and payment of certain expenses, amounting, in aggregate, to GBP14 million. Following the completion of the
Restructuring, Newco will be solely responsible for the pension deficit.
This proposed pension deficit for equity swap has required some complex structuring, which is described in detail
within the official document which is available on the company website. What the restructuring means, however, is
that the burden of the pension deficit will be removed, leaving Shareholders with a smaller holding in the Company
which the Directors believe will be better placed to enhance shareholder value in the future.
The restructuring will involve 4 steps of a 100-for-1 subdivision, followed by a bonus issue of 1 additional share for
every 100 shares held. The company will then proceed to cancel 100 shares in every 101 shares in issue and
then the remaining shares will under go 1-for-10 share consolidation. The net result of the reconstruction is that
shareholders will receive 1 new share of GBP0.01 for every 10 shares of GBP0.10 currently held.
Following the restructuring less than 25% of the company shares will be in public hands therefore the company is
required to cancel its listing on the Official List. The company is to apply for a listing on AIM with the first day of
trading on the 1st April 2011.
If approved the reconstruction will become effective on the 18th March 2011, with accounts updated with the new
shares of Uniq plc credited around the 1st April 2011.u

[knowing] 21/2/2011 16:15

Problem is the market is taking a beating.

[joeblogg2] 21/2/2011 16:12

yes, I read that too. But it will to go a lot higher before some of us re-coup our losses here!!!

[davius] 21/2/2011 16:09

Interesting line in that report:

"He added that shareholders, who retain 9.8% control of the firm, will also benefit as the share price will rise."

Quite a comment.

[davius] 21/2/2011 15:46

I suspect some of the rather silly comments about the shares being worth up to 50p resulted in a bit of over-reaction on the upside and some rather over zealous trading. Now at a far more sensible level and still well up on where we were a week ago. Looking like it may be setting at around 8p to 9p.

[olly2] 21/2/2011 15:41

are we about to bounce back,bid edging back up....

[brando69] 21/2/2011 15:33

mms having a laugh i suspect

[joeblogg2] 21/2/2011 15:32

I can't check plus trades but volume is only 500k , so unless a salestill ongoing, I can only think lack of buyers??

[purplebox] 21/2/2011 15:29

stevi111 - 21 Feb'11 - 15:21 - 10593 of 10593

Im a buyer. Just dont wanna catch a falling knife !

8p 7p or 6p ? Wish I knew.

Somewhere between 7p and 8p would be my guess.

[stevi111] 21/2/2011 15:21

Im a buyer. Just dont wanna catch a falling knife !

8p 7p or 6p ? Wish I knew.

[joeblogg2] 21/2/2011 15:19

Descending as quickly as it went up :((

[mutleymagic] 21/2/2011 14:51

Yeh wish I'd took a nice profit at the time now - could of easily bought in again - hey ho MM

[joeblogg2] 21/2/2011 13:28

Surprised to see it heading lower but not much volume.

[peawacks] 21/2/2011 10:08

For information; This from the company


Subsequent to your request, please find attached the Circular posted to you on 9th February 2011.



' In order to vote you will need to instruct your intermediary (who may be your broker, financial adviser etc) as soon as possible, as the deadline is 11.00am and 11.10am respectively on 23rd February for the Court Meeting and General Meeting.



Please be aware that your intermediary may have an earlier deadline than 23rd February.



Regards '

[olly2] 21/2/2011 06:07

got my vote in through share centre on line.only have today left to vote.....

[peawacks] 19/2/2011 10:13

brando69,you need to contact your broker, asap.

[fatman4] 19/2/2011 09:03

sold other day for 9.6p 2/3 hrs later 13-14p so wasnt happy-would probably have let it ride but in an isa so as far as know would have had to sell/rebuy and uniq not worth the trouble.cant see this being worth 20p+ after pension takes 90% of company/margins thin/past history etc-will watch developements only because this was worst ever investment i made-av 26p-but would say to all-be carefull with this

[brando69] 18/2/2011 21:17

i've not received voting form yet

[peawacks] 18/2/2011 20:15

Just had call from Uniq plc, asking if I have had details of the proposals for the company. They are keen to get votes in favour, or the alternative is insolvency. Must return your votes by 23rd. Feb.

[billybankrupt] 18/2/2011 17:50

NAB - agreed 40p in the short term is a pipedream
best course has shown to be sit tight with this one.
If they can show profit growth, potentially through acquisition as indicated, this could be a long term winner, provide they masnage the beast that is Minsterley
Unfortunately, I am looking to move share value and pension value so have an awful lot to gain.
although thinking about it....
have had my cash from the share twice over from an average of 5.4 - 40p last time around, taking my initial investment out twice
and
guarantee of 90% pension minimum from the PPF

no downside in theory

[neverabanker] 18/2/2011 17:09

Billy - as I understand it ppf deficit estimate is usually somewhere between IAS19 estimate (132M) and buyout value(440M). If (huge if) the company is worth 132m then 12-14p fair value currently. If they think it is worth PPF level that equates more to (I guess) the 20-25p sort of value that some are estimating here before dilution. I assume the 40p brigade think that the pension fund will expect the buyout sort of price for the company which in my view is a pipe dream and will simply not be realised in the short term. It might if they can get their profit margin to say 25-30M in the medium term though, on a PE of 15 or so (IMO not totally out of the question - but not till 2013/14) - but hey - where else can you get a return of 100% per year (simple interest)if you start at 10 p and get 40 in 3 years. I am happy to leave mine in till the dust has settled and well beyond.
purple - imagine how scarce the shares would have been if those 10mill had not been available!!what price then?

[purplebox] 18/2/2011 17:00

Schroders have sold a little over 9% of the company into a rising market in the last week - pretty good going if you ask me...

...it's fairly clear what they think of the restructuring proposal, and to be honest they are very well positioned to make that judgement.

[saud2237] 18/2/2011 16:52

Look guys all I know is that the Market Makers are prepared to let go of this share and that gives me confidence.

Not sure if you have been noticing or not but the order book from time to time showed very small orders of 2 or 3 appearing. The entire purpose of having such small orders on the buy side is to generate interest and therefore allow surge in price. This is exactly the reason why the price surged by 75 % in one day then fell back by 20% next --> therefore resulting in MMs making considerable profit.

And now they are doing this again. Its a bull trend and all indications are that the price will be much higher than current levels. You only have to look at the actions of market makers to determine that.