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I do believe this was predicted.
Morning all
So, extended until 6th November and here's the icing - "The revised deadline may be extended further, at the request of the Board of DX and with the consent of the Takeover Panel, in accordance with Rule 2.6(c) of the Code."
Then there was the added caveat that there can be no certainty a firm offer will be made! : )
So, for the immediate future I look forward to the dividend, and before we know, Christmas will be upon us!
(Apologies. Sarcasm is indeed the lowest form of wit!)
Onwards and GLA.
PS
I've been following the Metro Bank debacle and beginning to believe that DX isn't quite as...
Not much to be said really. It takes as long as it takes.
It's positive that they haven't found anything so far that has caused them to pull out and a little more time if anyone else has their eye on DX.
Morning,
Yes to be expected and framed positively regarding the takeover, the rest of the info is just a necessary evil of the process.
Will be interesting if it does give others time to consider now results have been published
Also, is the 4 week push back a statutory time frame? i.e. any delay is in 4 week periods? just being hopeful it may be pre that
My guess is this extension might be well be presented as further time needed by HIG for its due diligence (to adhere to protocol) but in reality to do with HIG either trying to find funds/backers or unable yet to organize their own structure in which to fit DX... The 48.5 is undisputed so far and HIG would not have gone into the extension if changed its mind about that
The 48.5p will be disputed. If HIG go right up to the extension deadline (9th Nov) to announce a decision, then it's likely the divi will be locked in and HIG will want to reduce their offer by the divi amount (as per the original RNS), so 47.5 p per share looks more likely.
There's also the outside possibility (re: the thankfully unsuccessful take-under offer for KINO) that HIG release an RNS to trash what they find about DX in their DD, and try to weasel a lower offer.
Other than the high likelihood of HIG reducing their offer to 47.5p because of the divi, I'd be wary of trying to intuit too much about this process.
Good points, KINO being an example of the share price rising to the potential offer price anyway after they pulled out
Kino situation seems very different to me... The board was against the possible offer and access to due diligence was denied.... In common with DX seems to e both are possible under-offers. But our DX largest holders quoted in past posts seem very keen to make a quick back
Back =buck, just in case it isn't clear
It was only the RNS trashing KINO released by the company that wanted to buy them out that I was referring to, I wasn't saying the 2 takeovers are equivalent.
Yes, sure... I was not particularly trying to reply to you, just pointing out some greedy DX major shareholders can't wait to sell
I’m not sure where greed comes into it. I presume you are referring to Gatemore and Lloyd email. Both have been instrumental in the success of the turnaround not withstanding various mistakes by some. They’ve indicated a level where they are happy to accept a possible offer for their holding that they consider an acceptable return for them. Isn’t that what we all do.?. Where’s the greed ?
I agree ports, they’ve more than done enough to deserve a decent exit.
I understand the frustration on prices being quoted, but I’m not sure that would make them any less or more ‘greedy’
Well, Ports, my target is 68, yours is grab whatever you can get from this possible offer. That's explains a lot
With all due respect email you know nothing about me and personal comments about me grabbing what I can get are completely irrelevant. If you check when I started posting about DX you will know roughly what I paid. A return at 45p or 48.5p is perfectly acceptable to me. If it’s not enough for you then fine. No problem. You really should respect other peoples positions. I do yours at 68p. You’ll still haven’t explained where greed comes into it?
I fully agree Ports. Everyone has every right to make their own choice as to what is right for them. I think a price of 48.5p is personally on the low side for DX but my holding now amounts to over 6 figures and therefore I would argue my decision to accept this offer is actually the opposite of greed. I could get greedy but the amount of profit in monetary terms for me personally is now one I am happy with. Lloyd senior has far more invested than all of us and at his age perhaps he wants to enjoy the fruits of his labour and who can blame him. Decisions on whether to sell or not will depend on how much skin you have in the game and your personal circumstances and no one should judge another’s decision on this.
You right Ports, I don't know about you - but why would I want to?... People invests for all sorts of reasons, it's their business and good luck to them all. My target sp it's my only concern. In my own view no investor deserves less than that and we've been dragged into a possible under-offer. If they're happy with lower than that they're 'financial' mugs and out to grab whatever they can or just happy to get whatever is given to them for whatever their reasons might be. These terms aren't in anyway personal or individual- they are 'financial' expressions only. I call myself a mug anytime I am forced to sell below my tp whether in gain or loss
OK. I don't really grasp your post.I don't really understand where greed comes into it and how me supposedly "grabbing all I can get.... explains alot" What exactly does it explain.... you seem determined not to answer. Personally I don't think that commenting on the actions or strategy of other shareholders whoever they maybe actually gets us anywhere. It's just conjecture , it' s not necessary, irrelavant and doesn't really contribute to this discussion board for the benefit of those who read it.