Zegona Communications Share Discussion Threads

[badtime] 13/7/2021 10:36

Ok hands up who just sold out...could be Sky shedding that 500k..a smidgeon of his holding

[jc1546] 07/7/2021 14:58

Positive news from Spain re: CNMV clearance for the takeover to proceed. What is the current timetable for the completion of the deal and the flow of cash proceeds to shareholders?

[gleach23] 06/7/2021 13:15

Thanks tiltonboy

Edit - so is my understanding correct that 150.4p (153p less the 2.6p recent dividend) is to be returned as cash with a residual 5p left in the business?

Consistent with recent weeks, share price seems to be unmoved on the news and one can currently buy @ 146p

[tiltonboy] 06/7/2021 12:51

Euskaltel get final approval, so hopefully not too long before the cash comes in.

[red ninja] 18/6/2021 13:33

Just needs xx changing to tt as below :-

[tiltonboy] 18/6/2021 10:19

Preliminary approval has been received from the regulator for the takeover of Euskaltel.

hxxps://www.mobileworldlive.com/featured-content/top-three/masmovil-euskaltel-clearance

[value hound] 24/5/2021 19:13

Excellent outcome - and one which treats PIs very equitably; a rare thing.

[pireric] 24/5/2021 18:18

Good result, well done holders.

[frazboy] 24/5/2021 17:59

£335m (153p) to be returned and 5p residual value. Happy with that although management LTIP looks generous as was alluded to by this board. 150p opening tomorrow?

[dekle] 21/5/2021 18:28

Letter dated 28th but signed 30th

[redalert] 21/5/2021 15:07

directors must call a meeting within 21 days and the meeting to be held no more than 28 days after the meeting is called

[frazboy] 20/5/2021 10:29

Perhaps it's 21 days from receipt of the letter? Perhaps the term 'proceed to convene' is open to interpretation?As you said previously, when drawing such a huge salary, why rush to respond, draw it out a bit.I did wonder what golden parachutes were in the board's contracts - could be why MVI are happy for them to bat on with a smallish amount of cash.

[elsa7878] 20/5/2021 10:15

Perhaps it's 21 working days and therefore the 26th...?

[frazboy] 19/5/2021 10:22

Tick tock...

[elsa7878] 11/5/2021 16:28

Yes, the board want to retain some cash and get paid a £1 million a year each while they look for another acquisition...and who wouldn't!

[frazboy] 11/5/2021 16:21

Thanks elsa,

"...to proceed to convene" - I understand how that's being read, I had originally taken it to mean, the meeting had to take place within 21 days.

So, 8 days, until we must have further news of a potential GM. Question then becomes, how many days have they from the 19th May, until the GM? I'm not sure what the benefit of procrastination is to the Zegona board. Any thoughts?

[elsa7878] 11/5/2021 16:13

If they can't persuade Marwyn or large shareholders to oppose the request they will have to proceed with one. So by the 19th they will need to tell us when it will be and how we can vote etc.

[frazboy] 11/5/2021 15:41

11th May today, 19th May is the 21 day limit. How many days notice of a GM do they have to give, 7? Surely, some news imminently!?

[tiltonboy] 05/5/2021 13:48

I really don't know...lol...

[skyship] 05/5/2021 13:44

Tilts - quite right - certainly would seem duplicitous in the extreme if MVI then failed to provide a big pay-out to their own shareholders.

All suggests that a further ZEG rise could provide a further 15p onto the NAV. That would take it to c196p; of which cash may be as high as 80%. Frankly the share structure is so opaque I can't work out what the position might be!

Are the exchange shares for cancellation as per treasury shares in buybacks?

[red ninja] 05/5/2021 13:22

The value returned is £350/218.97 = £1.5984

Note, as £350 million is the stated minimum it could be slightly higher.
218.97 million is current shares in issue. There may be share options to take account of as well.

[tiltonboy] 04/5/2021 18:24

Pot/kettle still come to mind...lol...

I would be happy if they left £20m in, and went again, but equally would be happy to take all cash.

I would guess that ZEG would struggle to get enough support to stop it going through!

MVI should now take some of their own advice and return ALL funds to shareholders!