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- CORPORATE ACTION: Share plc - Take over share and cash offer...
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Yes the return of ii...
This is most likely why the policy may well be total cash for all those with less than ~1000 shares as it would be the easiest way to remove the issue.Boro Boy wrote: ↑Mon Feb 17 2020 6:59pmCALCULATIONS:
No. of Share Plc. held = X x 0.0008355599837 New ii Shares @ £441.62 per New ii Share + 4.1p in cash x No. of Share Plc. held = Total
May prove fruitful for some!
Even better if a counter offer comes in...!!!
Downside for your club is you only hold 500 Share Plc shares and that converts to less than 1 full ii New "A" share so you may get nothing for this part of the calculation - can't find any mention of what happens in those circumstances...
Therefore we will not be entitled to any new ii shares on this basis and our holding will be paid in cash according to the above and a couple of other associated clauses if fractional entitlements exceed £16.2 million.Fractions of entitlements to New ii Shares will be rounded down to the nearest whole number of New ii Shares and Share plc Shareholders will receive cash in respect of fractional entitlements to New ii Shares on the basis of the Agreed New ii Share Valuation, rounded down to the nearest penny, provided that the total amount of cash required to satisfy the cash consideration under the Offer (including under the proposals to be made to participants in the Share plc Share Schemes) and such fractional entitlements does not exceed £16.2 million.
Fingers crossed for you but as I said earlier I couldn't see any details about that technicality for you; so hers's hoping you don't end up loosing out because you have less than 1000 shares - perhaps you should find out for sure and if necessary the club should consider purchasing another 500 shares to avoid missing out...!?!garindan wrote: ↑Mon Feb 17 2020 9:13pmThis is most likely why the policy may well be total cash for all those with less than ~1000 shares as it would be the easiest way to remove the issue.Boro Boy wrote: ↑Mon Feb 17 2020 6:59pmCALCULATIONS:
No. of Share Plc. held = X x 0.0008355599837 New ii Shares @ £441.62 per New ii Share + 4.1p in cash x No. of Share Plc. held = Total
May prove fruitful for some!
Even better if a counter offer comes in...!!!
Downside for your club is you only hold 500 Share Plc shares and that converts to less than 1 full ii New "A" share so you may get nothing for this part of the calculation - can't find any mention of what happens in those circumstances...
To be fair - I think it is pretty clear in the terms of the offer statement what the situation is if you read the extract I have quoted and the following paragraphs. It is true, we might get a pro-rata lesser amount if the amount of cash payable in total is greater than £16.2m but investing more is perhaps not the answer.Boro Boy wrote: ↑Mon Feb 17 2020 9:27pmFingers crossed for you but as I said earlier I couldn't see any details about that technicality for you; so hers's hoping you don't end up loosing out because you have less than 1000 shares - perhaps you should find out for sure and if necessary the club should consider purchasing another 500 shares to avoid missing out...!?!
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