kryptes
30 Jun 2015
Re: finally! You say "finally" but I have yet to receive the cash. I contacted Interactive Investor last week and was told that they have to wait for the offer to be declared unconditional in all respects.Hello, hello! That happened five weeks ago on 26 May.
Proverbs 26 vs 5
29 May 2015
finally! The offer made by FFHL Group Ltd (“FGL”
for the entire issued and to be issued share capital of Brit Plc (the “Brit” was today declared unconditional in all respects. FGL has today sent out compulsory acquisition notices to those shareholders who have not yet accepted the offer.Accordingly, the directors of Brit wish to announce that applications will be made to the UK Listing Authority and the London Stock Exchange for the cancellation of listing and trading of the Company’s ordinary shares of 1 (one) pence each. The cancellation notice period will now commence and cancellation is expected to become effective in 20 business days’ time on 23 June 2015.The directors of Brit further wish to announce that, following the successful offer by FGL, Jonathan Feuer, Sachin Khajuria, Kamil Salame, Gernot Lohr, Maarten Hulshoff, Hans-Peter Gerhardt and Willem Stevens have resigned as non-executive directors from the Brit board.
Grand Cru
21 May 2015
Re: Brit takeover I asked my broker about this takeover payment date and they replied as follows:-"When we do receive the payment for the takeover, this will be added to all our account holders as soon as possible, but we have been advised this could be any time in the few weeks or up until the end of September. As we are reliant on the completion of the takeover and to then receive the payments from the company as well. We have also been informed there will be a final Interim dividend payment, which will be credited to your account by the end of June."Hope this is of interest.
stungbycel
20 May 2015
Re: Brit takeover Very confusing that that they released an RNS on 23rd March announcing that the offer was unconditional as to acceptances. Unfortunately it seems there are other regulatory conditions before the offer becomes wholly unconditional. Many of these are fairly wooly in nature ("in so far as the offer meets the filing thresholds of the HSR Act, the expiration or termination of the waiting period", we could be waiting a long time for the cash.Having accepted the offer based on the March RNS, my broker will not now allow me to sell my shares in the market (which as a personal shareholder rather than ISA based, I would be able to). I've never been involved in an offer with an undefined hurdle date and if it happened again, would definitely sell in the market.
Doug Crook
19 May 2015
Brit takeover I have just spoken to someone in Investor Relations at Brit (0207 984 8800) & they advised that takeover is not yet wholly unconditional, they are awaiting regulatory approval which is expected in the next couple of weeks, once received then payout should follow, which I guess will be in the 10 day timescale as stated in bid documents.
AltoEgo
19 May 2015
Re: Takeover I have no reason to suppose otherwise - my main holding has disappeared from my account and I await (somewhat impatiently) the cash (predicted at 4 - 6 weeks from takeover). All I have left are a few shares from reinvestment of the final dividend..........hardly worth hanging on to in any case.
Grand Cru
18 May 2015
Re: Takeover I am still holding on but no sign of the proceeds of the takeover yet. Is it still going ahead?
AltoEgo
18 May 2015
Re: Takeover Is anyone else here hanging on to their Brit shares? My holding is small (a residue as a result of the final dividend reinvested) so I have not a lot to lose / gain...........but I am curious as to general sentiment.
AltoEgo
06 May 2015
Re: Takeover Yes, everything disappeared and then in the last few days a few shares appeared corresponding to the final dividend (which I assumed would not happen - I wanted the cash!).
gamesinvestor
05 May 2015
Re: Takeover Alto,Strange, in my account it's still showing the same number of shares, but they are valued at 12p each. I need to ring the broker for an explanation. So the bulk if your shares have now disappeared from your account?Games
AltoEgo
05 May 2015
Re: Takeover Looks like it will be quite a wait. I queried this with ii and the reply was:"The cash from the recent BRIT plc corporate action will be booked to your account around 4-6 weeks from the corporate action closure date. Once credited you will be able to see this payment within your statements tab."Worth bearing in mind for any similar future occasions! As for what's left in the account, I assume (like me) you reinvest dividends. I find myself with a small number of Brit shares despite asking to "sell all". I'm unsure whether or not these are worth the bother of hanging on to......
gamesinvestor
05 May 2015
Takeover Anyone been paid out yet?It's not entirely clear but it states you should get paid no later than 10 days after the offer becomes unconditional/Anyone know if it has and on what date?Also in my brokerage account it shows that the value has fallen by 95% and the shares are showing priced at 12p despite the market price being 278.5Not sure what's going on here. Apart from the dividend which was received on the 30th April - nothing else has been credited.This is the detail in the document :-Posting of Offer Document................. 16 March 201520 business days after posting of Offer Document . 15 April 2015Latest time for acceptance of the Offer........ 1.00 p.m. on the Closing DateExpected date of payment of 2014 Dividends.... 30 April 2015Date beyond which Offer will not be extendedwithout consent of Apollo Shareholders, CVCShareholders, Brit and the Panel ........... 1.00 p.m. on 30 September 2015Payment of consideration to Brit Shareholderswho accept the Offer prior to the Offerbecoming or being declared unconditional in allrespects ............................. No later than 10 calendar days after the Offerbecoming or being declared unconditional in allrespectsPayment of consideration to Brit Shareholderswho accept the Offer after the date on whichthe Offer becomes or is declared unconditionalin all respects but prior to 1.00 p.m. on theClosing Date.......................... No later than 10 calendar days after the date ofacceptanceGames
TX2
19 Mar 2015
Re: When do we get the money Gone ex final & special divi today.
Proverbs 26 vs 5
19 Mar 2015
Re: When do we get the money Thank you.
TX2
18 Mar 2015
Re: When do we get the money We are getting 280p + 25p divi = 305p.You can get 304p selling now in the market;the only reason I have not sold yet is that I don't want the gain to fall in present tax year.Beyond that probably nothing to be gained by holding on esp if held in ISA!
