Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
I've been with Photo-Me for a few years now experiencing the ups and downs and I am certainly voting against the 75p offer. Things are beginning to look rosy again and I agree with Velo's views below. This is just feels like we are being robbed.
Yes, I did read a snippet somewhere, that a few of the BOD (or was it key fund investors?) - and only a few, had advised investors to stand by and not rush to sell as they were going to try for a better offer improvement.
It’s not a done deal, which gives us some hope but I’m guessing that this situation will stop the price from rising above 75p regardless of what the company announces/ market does. For how long do we expect this situation to continue? I’m not sure of the time scales here…
Ahh this was the bit:
" Photo-Me tells shareholders to take no action while an independent committee considers the offer."
Have a regulatory timetable of events of the time-line involved. Will post it later today if I can dig it out.
Beza - Here's the regulatory timetable for take-over bids. Click the link and scroll down to No:2 TIMETABLES - and then click the PDF link.
(Within that PDF download, scroll down to pages 11/12) .
As far as I can tell the initial "First Closing date" is 21 days after the bid is announced. Objections etc., extend that as per the timetable.
Oops and the link is:
https://www.burges-salmon.com/news-and-insight/publications/guide-to-public-takeovers-in-the-uk#offer-structures
There's a good chance the offer will be rejected.
Thanks Velo, I’ll take a look later when I have time but off the cuff the buyout was announced 21st Jan so 21 days after this would be this Friday.
Why would anyone accept such a derisory offer, especially in the face of such a positive trading update?
It just wouldn't make any sense!
They wouldn’t Highstakes, these must surely be worth more but with Sergio and co owning most of the shares our votes may be of no consequence.