My view is voting NO is win win if they get majority still get 10p if they don't the offer will increase.
Just spoken to Barclaysstockbroker very strange they maintain they had not been told by company any options possible , I have got them to look into it and have lodged proxy vote , but to vote you will need to ring or email them to insist your vote is logged
Just got strange email from Barclays saying this is a compulsory action and no choices - I will challenge
Why is it assumed major fund manager will have done deal with concert party and will vote Yes. I would hope they will try to maximize value either by selling on open market or by looking to get best deal, I would therefore expect many to sit on hands or vote no in hope of better offer. I also doubt that it is legal for concert party to make offers to some share holders to secure yes vote which are not available to all, so I don't see what private deals are possible.
Please could someone explain what is the Scheme Court Hearing, who is the court made up, what criteria need to be satisfied
Question - Why would major institutional investors accept 10p per share on a share worth 14p a year ago with a NAV over 20P ?
I dont think a no vote would lead to a long term fall in share price. 1) Consensus seem to be NAV is above 20p 2) Long term prospects for china energy sector very positive. 3) Income from investment assets will become increasingly transparent underpinning share price, 4) BOD have signaled intention to take company private and believe market will view 10p as Min offer like to achieve success in the future.
Hold and Vote NO - The way I see this is that most people on this board believe NAV to be 20p-30p. BOD own majority of shares and for sound business reasons want to take the business private, particularly if they can do this for less than NAV (but regardless of price the proposal has a logic, no one is behaving dishonarably). Minority investors are therefore in a negotiating position , if 25% of us look likely to say no it will make sense for BOD to up offer and we will probably meet somewhere between 10p and 20p. My view is that the only issue is price, its in everyone's interest to resolve this fast, but minority share holders have every right to try force price up by resisting initial offer-Good Luck to all
My Guess is best bet would be for someone to assemble block of shares which could stop the bid forcing concert party to up offer dont know how likely this is given fragmented ownership of shares outside concert party control but I cant see a downside to voting no
RE:Bit of a Shocker - Hats of to Lambrini Girl called this right for 6 Months - But still real bank making real profits with reasonable div cover in risky market , so I am hanging on in and will buy in 6 month if nothing gets worse and weakness remains. SC must have potential to double over 5 years paying 5% per year