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Mo's document-up to 1.2m? and Mos Clarification


AVIM

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Why should existing SHs sell? I would be inclined to purchase more.

 

I tried to explain a few posts north of this one but prob wasnt all that clear. In brief - No voting rights, will not see dividends as they will go first to service the debt, and shareholders will be diluted in the event of a sale.

 

Anyway, this is a financial answer. There are of course other reasons for owning shares in vale.

 

I have to head out now, but will try to answer in more depth later. Unless I have too many beers - Its very sunny here today! :)

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I tried to explain a few posts north of this one but prob wasnt all that clear. In brief - No voting rights, will not see dividends as they will go first to service the debt, and shareholders will be diluted in the event of a sale.

 

Anyway, this is the financial answer. There are of course other reasons for owning shares in vale.

 

I have to head out now, but will try to answer in more depth later. Unless I have too many beers - Its very sunny here today! :)

 

Hasta la huego:sun:

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The latest return to Companies House put the share value at £1.17m, thus unless there is an unprecedented number of shares bought in the meantime then £1.2m is going to be more than enough to buy 51% in NEW SHARES.

 

No, if you're being picky it won't quite be enough. If Mo buys enough NEW shares to take him up to the 51% mark, then that means that the existing shareholding of £1.17 million will make up 49% of the total shares issues. Working the maths out, he'll need to invest £1,217,756 to get over the 51% mark.

 

Anyway, the exact figures to the penny don't matter. What does matter is the reason why it says UP TO £1.2 million. He'd need £1.2 million to buy 51% of new shares, but if he bought up existing shares then obviously he'd spend less. For every 1 existing share he buys, that's 2 new shares that he doesn't have to buy. Clear as mud?

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If you're handing 'em out at the Southend match, I'd get them adjusted and re-printed.

Never mind the cost - pro board folk will pounce on it and point it out to all those fence sitters. And then you'll have another myth to quash. A stitch in time and all that.

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No, if you're being picky it won't quite be enough. If Mo buys enough NEW shares to take him up to the 51% mark, then that means that the existing shareholding of £1.17 million will make up 49% of the total shares issues. Working the maths out, he'll need to invest £1,217,756 to get over the 51% mark.

 

Anyway, the exact figures to the penny don't matter. What does matter is the reason why it says UP TO £1.2 million. He'd need £1.2 million to buy 51% of new shares, but if he bought up existing shares then obviously he'd spend less. For every 1 existing share he buys, that's 2 new shares that he doesn't have to buy. Clear as mud?

 

Ooops...I was looking at it on the basis of 50% + 1 to gain control, but as you say the difference is small enough. Thanks for pointing out the error of my math! :D

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I tried to explain a few posts north of this one but prob wasnt all that clear. In brief - No voting rights, will not see dividends as they will go first to service the debt, and shareholders will be diluted in the event of a sale.

 

Anyway, this is a financial answer. There are of course other reasons for owning shares in vale.

 

I have to head out now, but will try to answer in more depth later. Unless I have too many beers - Its very sunny here today! :)

 

To be honest, I very much suspect that the vast majority of the 900+ shareholders saw their investment in Vale as a donation rather than anything that was likely to produce a financial return. Personally, I think my share purchase was well worth it if only for the entertainment I've had at the last couple of AGMs!

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To be honest, I very much suspect that the vast majority of the 900+ shareholders saw their investment in Vale as a donation rather than anything that was likely to produce a financial return. Personally, I think my share purchase was well worth it if only for the entertainment I've had at the last couple of AGMs!

 

Enjoy Carol Singing, do you?

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Just having a look through Mo's new glossy document, available here. I think everyone, pro or anti bid, should have a read through if they havent done so.

 

http://www.mochaudry.co.uk/wp-content/themes/mo-chaudry/downloads/Documents/MoChaudryPortValePlan.pdf

 

One question. Can someone from B&G/Mo clarify what the bid means by "A Cash investment of up to 1.2m"

 

This "up to" point has gone back and forth a few times and it has me confused. I head it in mentioned in the jacksongate tapes when Jackson claims that mo's bid was for only "up to" 1.2m, only for Jackson to get shot down by the B&G protestors, who swore it was the full 1.2m cash (and even offered to call Mo there and then to ask him).

 

Now this document comes out and it appears jackson was telling something like the truth on this one (hey, maybe a first for everything).

 

So, what is "up to" 1.2m mean? Does it depend on how many existing shareholders decide to sell their shares to Mo? Ie, Will Mo just buy enough new equity to get control?

 

Genuine question.

 

I don't know who tyou are, but take your agenda and stick it right up your ****ter

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