INTQ vs CDOG comparison graphic, quite cool These guys are now covering AIM which is quite powerful, so I made a comparison of InternetQ and CDialogues - hope you like it! [link]
Re: exit Fair enough, if you are happy to hold an unquoted investment for a few years/months.I am not, so will accept the offer.nk
Re: exit Why does this concern a private investor in INTQ like you or me?It concerns us if we decline the offer and continue to hold the shares. In that case, as long as at least 10% of the shares remain in the hands of a minority, they cannot be compulsorily bought by Tosca/PD, and those shareholders would experience whatever the outcome that Tosca/PD achieves. If Tosca/PD receive acceptances sufficient to give them control over at least 75% of the shares, they can then de-list them and go private. To make an offer at £1.80, Tosca/PD must consider the business to be worth at least as much. As PD and probably Tosca are very familiar with the business and its outlook they have a considerable advantage over the rest of us. A fund like Tosca, will not wish to hold INTQ shares privately for ever. They may have a view as to when they can sell (exit). I am wondering if anyone has considered how Tosca/PD may achieve their exit and when. When Richard Branson took Virgin private he achieved an exit fairly quickly at a multiple of his offer price.
Re: exit GR,Why does this concern a private investor in INTQ like you or me?nk
exit How long do you think Tosca will want to hold its stake in INTQ before it finds an exit? Do you think, that PD + Tosca already have an exit route planned?
Re: Tender My thought is:If you think that there is possibility of a higher than 180p counter-bid then hold on - IMHO and looking at the market price the chances must be very slim.Otherwise tender your shares and get the 180p at the earliest.nk
Tender Should you wish to tender your shares, please provide us with your instruction by 140 on 23 March 2016. Please specify the number of shares you wish to tender. *having not gone through this process before where people's thoughts please ?
Re: zac mir ( TW mate ) Lucian Miers claims he has closed short at a loss.Not sure if they told there readers first.
Stake building It is interesting to see ODDO building a stake. The announcement this morning shows they have moved up to 1.4%.Anybody know what % level a blocking stake is? i.e. at what % level, the shareholder can avoid being compulsorily purchased?I do not know that that is the aim of ODDO, they may just be after a small return of buying just below 180p and selling at 180p in a month or so's time.
Stake building It is interesting to see ODDO building a stake. The announcement this morning shows they have moved up to 1.4%.Anybody know what % level a blocking stake is? i.e. at what % level, the shareholder can avoid being compulsorily purchased?I do not know that that is the aim of ODDO, they may just be after a small return of buying just below 80p and selling at 180p in a month or so's time.
Timetable Only thing I can see in the announcement is:"19. Expected timetableIt is intended that the Offer Document and the Form of Acceptance containing further details of the Offer will be despatched to InternetQ Shareholders (other than to persons in Restricted Jurisdictions) as soon as practicable and, in any event, not later than 28 days after the date of this announcement (unless agreed otherwise with the Panel)."I guess we will get further details only when the Offer Documents are published? Can anyone share any details they find ASAP please?Thx,nk
Bid So what happens now?
Bid 180p it is. Has TW enabled the consortium to offer for the company for a fraction of its true worth?The CEO and major investor are hardly likely to offer 180p if the whole thing is an accounting con trick are they? Let us hope that anyone who tried to make a killing by undermining the share price with rumour and innuendo has been taken to the cleaners by this offer. I wonder if the shorters will be able to cover their positions, if the company buys up the shares? i.e. I wonder if the share price could rise above the offer price if shorters find it tricky to cover their shorts?Anyone know the extent of uncovered short positions?
Re: take over Hi all,I understand the bid deadline is today? Why is there no news - one way or the other? Share Price seems to be moving in a narrow range as well.nk
Re: take over The group considering making the offer hold around 54% of the shares. In order to get full control they need to persuade some institutions to accept. Most will have bought in at prices up to £3.70. => Mkt cap around £150m.These figures are peanuts for some of the bigger players who might want to use INTQ for expansion outside China, so a bid could flush out some other interested parties.