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Why the share price is not higher. Is it the risk of getting trapped in a private company for an indefinite time ?
Even then there is 50/50 chance you might be able to exit at the tender offer which i assume will be £1.50
It surprised me there is not more demand. I have been picking up a quantity over the last few days adding to my total, and it is obvious how tight the market iis.
Can anyone help me here.
I was wondering the same. I had an email today from my broker (AJ Bell) with an update about the possible tender and de-list from AIM. They seemed pretty clear in what they said.
"Under the proposed terms of the offer, you will be given the choice to tender your shares to LRB 35 Limited at a price of GBP1.50 in exchange for each share held."
Seems like a no brainer to me, but then so did investing thinking we would be at $11 a share due to the HNWI.
Steemy .. maybe the answer is that we are both invested in QBT :-)
That may well be it lol
When the RNS came out I said I suspected that the market would not respond too well - seems I was right - the issues are (I think) that (a) we don't know when the offer will come and (b) there is no guarantee that if you want to take up the offer you will be able to do it with your entire holding. So people run the risk of being locked into an untradeable share. That said, once the offer is actually made, I half wonder if the price MAY go above the offer price as people who DO want to be part of the company take the only chance they will have at low level to buy in.
There is a lack of confidence, given the prolonged wait. We are more than deserving of more concrete information. Come on RS like seriously!
Does anyone know if there is any kind of confirmed timetable for action regarding the tender offer, or in fact on anything ?
Hi All, I am with interactive investor, I haven't received any email yet about the offer. I just want to get out and use cash for something else. Anyone using interactive investor received an email regarding the offer?
Thanks G
Hi P - I am with ii, and have only received one email from them re the Nov EGM.
The whole affair is nothing confusing and galling.
Nothing * = Rather
For those asking questions - they are all answered in the last RNS - but to save you reading the two bits that matter are:
(1) Tintra Shareholders should note there is no certainty at this stage that any tender offer will be made. Accordingly, shareholders are advised to take no action at this time.
(2) As is customary under Rule 2.8 ... within the next six months following the date of this announcement
Aidan- Thanks. Unfortunately as you intimate, that still leaves us up in the air.
Is it possible that the potential offerer may have accumulated the number of shares they wanted anyway over the last few weeks, and would no longer need to make an offer?
In which case we could still be in a viable listed proposition, which when the situation is clarified becomes attractive once again.
🤣you think they may have accumulated 29.9% of the share issue in the past few weeks 🤭You’ve seen the volumes here over the past few months right🤔
Onek.. volumes on here don't mean anything regarding this proposal. This will be decided in the dark. But appreciate the emoji s
This is the update I received from AJ Bell on 13th.
"Further to our previous communication, LRB 35 Limited has announced that it now intends to purchase up to 29.9% of the shares it does not currently own in Tintra Plc through a tender offer. This will give you the choice to sell, or tender, your shares at a fixed price with no dealing charges.
Under the proposed terms of the offer, you will be given the choice to tender your shares to LRB 35 Limited at a price of GBP1.50 in exchange for each share held. If you choose to tender your shares your election may be subject to scaling back.
To view the announcement in full, please copy and paste the following link into your web browser:
https://www.londonstockexchange.com/news-article/TNT/tender-offer-replaces-possible-offer-aim-delist/16196547
With the capital raised from the tender offer, Tintra Plc will propose to become a private company and delist from AIM. The delisting will be subject to a meeting approval in due course and is expected to become effective in November 2023.
There is no certainty at this stage an offer will be made. Should the offer become official, a separate event will be created to allow you to input your elections, subject to any applicable restrictions.
Please copy and paste the below FAQ link into your web browser for more information on corporate actions:
https://www.ajbell.co.uk/sites/ajbell.co.uk/files/AJB_Corporate_action_FAQs.pdf
IMPORTANT NOTE - If you have any questions or queries regarding this event, please send us a secure message and ensure you quote the following in the Subject field: CORPORATE ACTION - Tintra Plc - 9813109
Updated: 13/11/2023"
SteamyWee - that update was the first of the two RNS's . I'm keeping my fingers crossed that the second one (which didn't have the November timescale) was additional to, rather than instead of, the first one - whilst I still believe in the company, I'd rather liquidate my assets and move on now.