thats proberly the most sensible post cfgs when you think of it they may be just trying to drum up intrest from the other parties mentioned in the article
Also an Indicative offer is by no means a guarantee of purchase, but RM and co are not fools, they would not let just anyone check out our laundry drawer unless they were certain we would not be left hanging or would not get paid for the honour of the fumble
can I ask did we by law have to make a announcement that we had received a indicative offer.Because i really would have preferred not to know until it was all done and dusted.
and can someone for feck sake explain oakster's post if not someone who knows him feckin ring him and get him to explain it,it doesn't help posting something nobody understands.
Agreed that post is a mass of information that my poor little nth london brain can not compute i, like NSS am fecking frustrated by not understanding the post
i dont think it is going to turn into a bidding war peanuts, i dont think our valuation of 50 mill is too high at all, i dont like what is written by the gaurdian but it is a lot of speculation, i cant help but feel that we are in a more dominant position as we have had a statement from both parties about the intent of the proposed take over,
things like this just dont help us the fans when we are all in limbo waiting, maybe something could comeout in tonights meeting in bromley that may alay our fear
I didn't say it would be a bidding war. They'll run a mile if they do due diligence on West Ham. I think they're just planting a story to make sure the CA board deals at the lower end of expectations.
... the City Code on Takeovers and Mergers[1](also called "City Code" or "Takeover Code") lays down rules for a takeover, found in the so called Blue Book ... requires that all shareholders in a company should be treated equally ...
...
In particular:
* a shareholder must make an offer when its shareholding, including that of parties acting in concert (a "concert party"), reaches 30% of the target;
* information relating to the bid must not be released except by announcements regulated by the Code;
[cite]Posted By: Rothko[/cite]The first two paras of that Guardian piece are all over the shop
Rothko matey, you've no idea how much I want to agree with and indeed share your observations....but right now I have an awful sinking feeling in the pit of my stomach....surely we wouldn't be strung along like that....would we?
having read the statement i think all it is saying is that under the stockmarket rules, if one entity wishes to purchase more than 1% of shares in another (quoted) entity they have to declare this to the market within 1 day of the offer - this is why Charlton announced the offer as it is in the rules. This announcement then stays in place until such time as either the shares have been bought or the deadline to buy them has passed. I can't see anything saying anything specific about the deadline of our particular 'deal'. Therefore from what i see it is standard wording that means nothing in the 'West Ham' context.
As for the West Ham bid being mentioned, who knows, may be lazy jounalism, may be some truth...in reality i hope it is the first but if it is the second, well you can't lose what you never had and i will still be supporting Charlton next week so c'est la vie.
stating the obvious, but a deal is not a done deal until it is done.
Zabeel are in the UK, the West Ham owner is desperate to sell, so like the article says there has been some communication but it also says that there are no formal talks ongoing - the Zabeel takeover of Charlton is probably still on track.
[cite]Posted By: Steve Dowman[/cite]It sounds more like a desparate plea from a club in financial turmoil begging for someone to come and buy them from the skint owner.
I'm no expert but I think the Stock Exchange announcement has been made as Charlton have announced that they are subject of a takeover they then have to announce how many shares are in circulation as if anyone buys over a certain percentage (about 15% I think) it has to be made public. As Zabeel Investments are involved they have been mentioned and reminded that they have to make such purchases public within 24 hrs.
As Salad says it is just part of the takeover bandwagon as it slowly rolls on.
Don't expect any real information on this at the Bromley meeting tonight as the Directors are not allowed to discuss it - by law!
I am with Steve Dowman on this, West Ham are desperate, I suspect it is them trying to flirt with Zabeel, A company like Zabeel has no need to use Charlton as a stalking horse, and I suspect would not do that, there will be a period of quiet, and that's when journos come up with tosh, West Ham I understand have spoken to Zabeel before they came in for Charlton, that's where I suspect this is coming from, and we really should expect silence on the matter til the deal is done, that is the way Richard Murray goes about his business. Journalists have a very good track record for getting it hopelessly wrong, when there is something solid to announce the Club and Zabeel will announce it, til then we can expect nothing, I think we should not worry and turn our attention to upsetting Simon Jordan to keep us occupied!
[cite]Posted By: PeteF[/cite]I am with Steve Dowman on this, West Ham are desperate, I suspect it is them trying to flirt with Zabeel, A company like Zabeel has no need to use Charlton as a stalking horse, and I suspect would not do that, there will be a period of quiet, and that's when journos come up with tosh, West Ham I understand have spoken to Zabeel before they came in for Charlton, that's where I suspect this is coming from, and we really should expect silence on the matter til the deal is done, that is the way Richard Murray goes about his business.
Journalists have a very good track record for getting it hopelessly wrong, when there is something solid to announce the Club and Zabeel will announce it, til then we can expect nothing, I think we should not worry and turn our attention to upsetting Simon Jordan to keep us occupied!
Matt Scott who wrote the article is a sports journalist, if it had come from a Financial Journalist I would be worried, going to check to see if he is a West Ham fan!
[cite]Posted By: Steve Dowman[/cite]that article is a load of toot. The headline doesnt match the content.
All this 'club sources' 'But yesterday's approach was far more discreetly conducted'
so 'discreet' in fact that it probably didnt even happen.
It sounds more like a desparate plea from a club in financial turmoil begging for someone to come and buy them from the skint owner.
So discreet that the day after it is common knowledge where as we had been in talks for a while before it was made common knowledge, due to procedural law
As others have indicated, the Stock Exchange announcement is purely a formality that if there is a movement in shares of a certain amount, it has to be publicly declared.
With regards to the Guardian story, well i think most of us knew that the period following the announcement was not going to be a straight path to a successful outcome.
I have no idea under stock exchange rules whether the club was forced to make the announcement following the indicative offer, or whether it simply chose to release. If its the latter, i just wished they could of held fire for a bit.
Two things will happen:
1. All this press talk is all smoke and mirrors in either the attempt by Wham to attract decent investment, or Zabeel to negotiate a lower purchase price for us.
2. That we have been played by a group that weren't as committed to us as we both hoped and need.
If its 2, then we are better off out. But only time will be able to give us these answers, and until then, we can't let speculation get out of hand.
Comments
I know it doesn't "look good" , but I would like to know what all that stuff was about.
ps. I've got 1 share.
will I make amillion out of all this ?
things like this just dont help us the fans when we are all in limbo waiting, maybe something could comeout in tonights meeting in bromley that may alay our fear
Doesn't that Stockmarket announcement mean that people have to open about there share holdings, so Zabeel and Charlton know where they are?
I think it is just another step on the road towards the proposed takeover
http://en.wikipedia.org/wiki/Mergers_and_acquisitions_in_United_Kingdom_law
... the City Code on Takeovers and Mergers[1](also called "City Code" or "Takeover Code") lays down rules for a takeover, found in the so called Blue Book ... requires that all shareholders in a company should be treated equally ...
...
In particular:
* a shareholder must make an offer when its shareholding, including that of parties acting in concert (a "concert party"), reaches 30% of the target;
* information relating to the bid must not be released except by announcements regulated by the Code;
Rothko matey, you've no idea how much I want to agree with and indeed share your observations....but right now I have an awful sinking feeling in the pit of my stomach....surely we wouldn't be strung along like that....would we?
As for the West Ham bid being mentioned, who knows, may be lazy jounalism, may be some truth...in reality i hope it is the first but if it is the second, well you can't lose what you never had and i will still be supporting Charlton next week so c'est la vie.
All this 'club sources' 'But yesterday's approach was far more discreetly conducted'
so 'discreet' in fact that it probably didnt even happen.
It sounds more like a desparate plea from a club in financial turmoil begging for someone to come and buy them from the skint owner.
Zabeel are in the UK, the West Ham owner is desperate to sell, so like the article says there has been some communication but it also says that there are no formal talks ongoing - the Zabeel takeover of Charlton is probably still on track.
As Salad says it is just part of the takeover bandwagon as it slowly rolls on.
Don't expect any real information on this at the Bromley meeting tonight as the Directors are not allowed to discuss it - by law!
call the guardian or something????
http://www.guardian.co.uk/sport/blog/2008/sep/25/premierleague.westhamunited
which would mean he does have sources there, but also that he puts a spammers spin on stories perhaps.
Journalists have a very good track record for getting it hopelessly wrong, when there is something solid to announce the Club and Zabeel will announce it, til then we can expect nothing, I think we should not worry and turn our attention to upsetting Simon Jordan to keep us occupied!
Pete...please god you're right pal!!
So discreet that the day after it is common knowledge where as we had been in talks for a while before it was made common knowledge, due to procedural law
With regards to the Guardian story, well i think most of us knew that the period following the announcement was not going to be a straight path to a successful outcome.
I have no idea under stock exchange rules whether the club was forced to make the announcement following the indicative offer, or whether it simply chose to release. If its the latter, i just wished they could of held fire for a bit.
Two things will happen:
1. All this press talk is all smoke and mirrors in either the attempt by Wham to attract decent investment, or Zabeel to negotiate a lower purchase price for us.
2. That we have been played by a group that weren't as committed to us as we both hoped and need.
If its 2, then we are better off out. But only time will be able to give us these answers, and until then, we can't let speculation get out of hand.