I am willing to bet that you will not end up with 10p after it delists, I am sure some unexpected costs will come up |
the Board does not expect there to be more than approximately 10p per Ordinary Share of returnable cash value remaining in the Company assuming full take up of the Tender Offer.
---------------
So 11p for 70.9% of your shares now and 10p for the remainder after the company delists.
A slightly worse outcome than I expected. |
Results out today.
If you deduct the first return of capital that's already taken place, you get NAV of 12.4p for 2024 year end.
They obviously need to keep the company running for the next 12 months so we won't see that number. We will be paying management salary and severance, fees, audits, listing costs, etc. If we assume £2m for that, we get a final shareholder return of about 11p.
A very disappointing outcome. |
Despite just about all the factors being known, they still do not provide a final outcome. Really poor disclosure, suggesting that long suffering shareholders will be subject to one final rug pull. |
Earnout only $1m of the possible $10m for the North American business |
anyone know if those holding a spread bet long will get paid anything and if so, how would it work? Thanks |
Yeah - couple of weeks ago. Got the 11.5p per share for the 50odd%. |
Have shareholders been paid anything so far? |
I've not been following things closely, what is going to happen to the shares? Thanks. |
Why would they tender at 11.50 if they thought the shares were worth less? |
TFG out today, looks like their shareholding has been redistributed amongst other large shareholders. |
To me I think that the tender offer was the lowest price that they think the shares will finally be worth. I think that the final payout will be higher Time will tell |
It's the tender offer |
Over 121 millions shares bought this morning! Wonder whether it's the company buying or some deep pocket Institution?!? |
Nice to see another addition to the board WTF everyone is milking this to the last minute. |
Lageronald so, we don't tender. |
Lageronald - correct! |
I think Gooseman means that 11.5p in the hand is better than (given the past record of this bod) who knows what we're likely to end up with at the end. |
Gooseman1979 did you mean I can't see any basis for tendering and not "I can't see any basis for not tendering"? |
I think the trustworthiness here is gone, based on previous statements setting expectations which then had to be significantly downgraded in light of the revelation of the actual expected return to shareholders, redundancy costs etc. As such, as a retail shareholder, I can't see any basis for not tendering - too risky. |
That's the 64 million dollar question... |
My guess is that the 11.5p that we're being tendered for is the best estimate of the final return. You would like to hope the return is slightly higher, but are you willing to roll the dice? |
So what do we reckon peeps - tender or wait in the (probably forlorn) hope of getting more than 11.5 at the final reckoning? |
Got a mail from my broker today offering two options.
1. Tender the full 52.98%
2. Not tender (default)
Option 2 was the default, so if you wish to take part in the tender then make sure to respond to your broker. Personally, I have chosen to tender. |
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