William Ransom Share Discussion Threads

[deswalker] 14/1/2011 08:17

Yes, good luck guys.

Please remember to question the validity of the meetings with the company lawyers bearing in mind both FW & SQ's recent share dealings, irrespective of whether they are allowed to vote these shares or not.

The Scheme doc is inaccurate and was inaccurate when other shareholders were deciding how to vote and aren't such dealings against the rules anyway ?

ATB

Des

[playful] 14/1/2011 07:42

Unfortunately I'm unable to make it down from Leeds this morning, but rest assured my votes are in and I'll be with you all in spirit.

[effortless cool] 14/1/2011 07:26

Good luck today.

[davidosh] 13/1/2011 21:39

I will aim to be at Nero too. I have asked for someone to attend from Aviva but lets see if they do come.

The Court Meeting and delisting meeting will be held at 10am on 14 January 2011 in the offices of Olswang LLP, 90 High Holborn, London WC1V 6XX

Cafe Nero at 9.30 to 9.45am

So far attending

playful
kramch
davidosh
grahamty
fingal4
tracker12 (IH)

My vote is for the restructure but not to delist. I prefer a listing on Plus too if necessary

Any more coming to the meetings ?

[fingal4] 13/1/2011 21:22

I will be there at the Cafe Nero and I hope others will be there

[kramch] 13/1/2011 21:14

I plan to be there 9.45, will drop into Nero if early (look for luminous yellow bike clips) K.

[grahamty] 13/1/2011 20:34

* 9.30am of course

[grahamty] 13/1/2011 20:33

No idea who is attending tomorrow. Olswang ( who they ?)are oppeosite the old Pru building just along from Sainsburys/Mirror building. I plan to be in the Cafe Nero at 333 High Holborn ( just by Chancery Lane tue station) from about 9.30pm

See all/anyone tomorrow

[deswalker] 13/1/2011 16:11

All the best to those attending the meeting(s) tomorrow. It should make for a very interesting couple of hours.

Any feedback on the financial situation and the thoughts of any of the bigger players FW, SQ, IH, TD, PG and Aviva would be very gratefully received although I'll take whatever FW and SQ say with a large dose of salt.

I really don't know how it is going to go and believe it lies in the hands of PG. I can't see him abstaining so there is a 15% swing there which I believe will hold the key as to whether it passes or not (assuming that online brokers have not blindly voted in favour because the Scheme was "Recommended" and that is their default position unless notified otherwise).

[deswalker] 13/1/2011 12:35

fingal - excellent post.

Are we voting against something that is necessary and has no reasonable alternative or are we voting against something because someone is trying to get our shares on the cheap ? This issue has not been addressed anywhere near enough if at all.

The interim numbers look rosey and the sale prices achieved for our assets look good so shareholders should be forgiven for thinking that things are on the up and that they are holding a share with some decent upside. Yet certain shareholders are giving the opposite impression and that the only possible way out is this Scheme. What do they know that we don't ? Or are they being scared into something that is unnecesary ?

Anyway, I think you've all got the jist of my argument so I'll shut up for a while :o)

[fingal4] 13/1/2011 12:11

I believe that the Witham problem is greater than we are being told. It could be that splitting the company into three is the only way to rid us of Witham and that this can only be achieved by delisting. We must be told if this is the only solution, and why. If it is, we must not kill off a plan which offers the only solution. But we just do not know; we must be told.

If it is the right solution and we could do well out of it. But it could be that the good bits are sold out of Ransom and we are left holding the bad bit. That would be a disaster.

[kramch] 13/1/2011 11:18

Des, Of course things could deteriorate further and they need a plan which may involve injection of further cash or assets. But why does that need delisting, they could move to Plus if costs are an issue? This whole X-mas eve scheme smells, and doesn't auger well for transparent management going forward. K.

[deswalker] 13/1/2011 10:51

kramch - If we don't need funds at the moment then that is very good news. But it begs the question as to why all the others (IH and Aviva at the very least and probably TD too) are giving a very good impression that there is no alternative to the Scheme and hence are "reluctantly" supporting it ? It all smells very funny to me.

If we are trading okay and appear to have a supportive shareholder base should funds be needed (and we are told they are not at the moment) then why the nuclear option of a delisting ? Just because we have a problematic division is not grounds for what is being suggested. Why not work to turn it round or wind it down as cheaply as possible and keep the listing ?

[kramch] 13/1/2011 10:30

Des, it is becoming obvious to me that this was all planned well before the AGM in Nov. The outgoing directors would have agreed to support it and they then got Aviva and the other smaller II to pledge support. They wouldn't have risked going ahead otherwise.

Ran says they do not need funds at the moment, I guess they are trading cash neutrally at the moment. But they must have a plan for the Witham factory. K.

[davidosh] 13/1/2011 09:29

PG looks keen to buy and no doubt PIs here would be prepared to back a placing or rights issue so why not go down that route to get banks off our backs

[deswalker] 13/1/2011 09:24

As I've just said in an email elsewhere, I get the impression that as kramch says they are all reluctant to support this but see no alternative. That said I am interested to know where kramch got his quote from.

IMO and for reasons that I simply don't understand based on recent trading, it appears that the banks are getting increasingly heavy and we need them off our backs asap. That means getting funds by either approaching other banks, via an equity placing/rights issue or via a private loan. I wonder to what degree the first two alternatives have been explored before going for the nuclear option of accepting private loan money on very tough terms, not least the delisting of the company ?

I for one am totally confused.

[kramch] 13/1/2011 09:07

grahamty, I think you can work on the basis that DT and IH are supporting the scheme (I believe "reluctantly"). K

[grahamty] 13/1/2011 08:58

It would be most interesting to learn what Dye/Harrison are doing. If one assumes they are against this, would they not be making a concerted effort to get it voted down ? It is all very well the c 6% above stating they are against, but who is making sure all attend and vote ? If either of those ( or PG) are really trying to block this, it would have been much better coordinated. Last time round ( think 2008) there were letters to shareholders from the Board, from the rebels, from uncle Tom Cobley and all).

It would be odd if D/H are against this and are just taking a gamble that with their c10% another c 10% will come out of the woodwork to join them ? If they had PG on board, would be much closer. What is he doing ? Or is he just part of the carve up ( but obviously not a concert party cos that would be very naughty !!)

[grahamty] 13/1/2011 08:50

DaVID I have another 100,000

Think you have my number. Give me a call.

[moorsie2] 13/1/2011 08:24

My votes against have been received and acknowledged by my broker.

[davidosh] 13/1/2011 05:11

I have had an email from a private investor who wishes to remain anon for our list but advises me he has voted against both. I have added the latest FW,SQ and PG purchases. I will try to speak to David Lis later today. We are now very close to 6% as PIs recording our votes against.


Share capital allotted and fully paid: 84,435,207 ordinary shares of 10p each.

> Major shareholders
Shareholdings over 3%,



Quinn, Stephen John... 14.2%
Whitcomb, Frederick Francis...14.2%
Aviva Investors....13.61%
Peter Gyllenhammer.....7.5%
Harrison, Ivor John Anthony... 5.10%
Dye, Timothy George.... 4.12%



Just keeping a record so let me know if you add or sell any (and please offer those shares here first if you need to sell as a supporter of the cause is likely to do a deal that suits all parties) ....

playful....350k
kramch.....250k
grahamty...800k (100k added today)
davidosh...450k
gelp.......200k
moorsie2...141k
ajk479.....115k
DesWalker..450k
marketeye3..50k
grngiant..1400k
gmate......184k
comedy.....115k
brumont....150k
Anon PI....100k

Approx 4.2m needed for 5% So we are now above that level. We should aim to have as many as possible and at least 18% will probably be needed to block this delisting attempt.

[playful] 13/1/2011 00:20

maybe Ivor & co have taken a leap of faith, I'd certainly catch them.

[boll] 12/1/2011 21:04

one has to ask whats in it for Ivor - it looks on adding up the major shareholders as if he and T Dye are part of the 50.7%

[greengiant] 12/1/2011 17:12

kramch,

I am still hopeful that it can be defeated. You never know there might be a surprise on the day. I imagine this is going to be a lot closer than FW & SQ first thought. Hence the reason for buying more shares in the market. I wouldn't even start to consider the possibility of a non exec. Not going to reveal my conversation with the prior board. I believe it Will be closer than we think.

gg