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  • FIRST POST
    • Caduta Massi
    • By Caduta Massi 12th Oct 17, 1:25 PM
    • 5Posts
    • 0Thanks
    Caduta Massi
    Selling shares
    • #1
    • 12th Oct 17, 1:25 PM
    Selling shares 12th Oct 17 at 1:25 PM
    Hi, can anyone out there explain my options re the following. I have inherited a small amount of shares in a tech company, the shares are registered in my name, it has always been my intention to sell them, I am neither a trader nor dealer, the company in question is about the be acquired, there has been an offer that has been accepted by the company in question and there will now be a shareholder vote re the sale. Assuming that the shareholders agree to the sale should I just hang on to my shares until the sale goes through at the agreed price? If so will my shares sell as part of the acquisition process automatically or do I have to sell them independently. As you can probably tell, this is something that I have very little knowledge of. Thanks in advance.
Page 1
    • Apodemus
    • By Apodemus 12th Oct 17, 2:16 PM
    • 910 Posts
    • 699 Thanks
    Apodemus
    • #2
    • 12th Oct 17, 2:16 PM
    • #2
    • 12th Oct 17, 2:16 PM
    If there is to be a shareholder vote, then I would imagine that they will need to send you the details of the sale, so that you can cast an informed vote on whether the deal on offer is acceptable.

    The details will indicate whether this is a straight cash sale (where you receive cash for your current shares, but no shares in the take-over company) or a an offer of new shares in the takeover company in exchange for your existing company shares.
    • Biggles
    • By Biggles 12th Oct 17, 4:55 PM
    • 7,434 Posts
    • 4,806 Thanks
    Biggles
    • #3
    • 12th Oct 17, 4:55 PM
    • #3
    • 12th Oct 17, 4:55 PM
    Which tech company is it?
    • Caduta Massi
    • By Caduta Massi 12th Oct 17, 6:23 PM
    • 5 Posts
    • 0 Thanks
    Caduta Massi
    • #4
    • 12th Oct 17, 6:23 PM
    • #4
    • 12th Oct 17, 6:23 PM
    If there is to be a shareholder vote, then I would imagine that they will need to send you the details of the sale, so that you can cast an informed vote on whether the deal on offer is acceptable.

    The details will indicate whether this is a straight cash sale (where you receive cash for your current shares, but no shares in the take-over company) or a an offer of new shares in the takeover company in exchange for your existing company shares.
    Originally posted by Apodemus
    Thanks for the info Apodemus, I do have a vote and it is a straight cash sale, I assume that as they have my bank details they will simply make the payment into my account?
    • Caduta Massi
    • By Caduta Massi 12th Oct 17, 6:26 PM
    • 5 Posts
    • 0 Thanks
    Caduta Massi
    • #5
    • 12th Oct 17, 6:26 PM
    • #5
    • 12th Oct 17, 6:26 PM
    Which tech company is it?
    Originally posted by Biggles
    It is Imagination Tech
    • Apodemus
    • By Apodemus 12th Oct 17, 11:35 PM
    • 910 Posts
    • 699 Thanks
    Apodemus
    • #6
    • 12th Oct 17, 11:35 PM
    • #6
    • 12th Oct 17, 11:35 PM
    Thanks for the info Apodemus, I do have a vote and it is a straight cash sale, I assume that as they have my bank details they will simply make the payment into my account?
    Originally posted by Caduta Massi
    I would think so. If you sold earlier you would have dealing costs, so I would imagine you are better to hold through to takeover. Share price would surely already be pretty close to offer price?
    • Caduta Massi
    • By Caduta Massi 13th Oct 17, 6:59 AM
    • 5 Posts
    • 0 Thanks
    Caduta Massi
    • #7
    • 13th Oct 17, 6:59 AM
    • #7
    • 13th Oct 17, 6:59 AM
    It is, there’s a few weeks before it all goes through, many thanks Apodemus.
    • Biggles
    • By Biggles 13th Oct 17, 9:31 AM
    • 7,434 Posts
    • 4,806 Thanks
    Biggles
    • #8
    • 13th Oct 17, 9:31 AM
    • #8
    • 13th Oct 17, 9:31 AM
    Current share price 172p, acquisition price 182p, so there are a few betting that it won't happen; but it probably will. Meeting 31 Oct.

    Yes, it's a cash offer so you'll get the cash paid either to you if you hold a cert (or to your brokerage account if you hold in a nominee a/c).

    Seems to be little advantage in selling now unless you're in the camp that thinks it won't go through and that the price will then tank...
    • Caduta Massi
    • By Caduta Massi 13th Oct 17, 10:59 AM
    • 5 Posts
    • 0 Thanks
    Caduta Massi
    • #9
    • 13th Oct 17, 10:59 AM
    • #9
    • 13th Oct 17, 10:59 AM
    Current share price 172p, acquisition price 182p, so there are a few betting that it won't happen; but it probably will. Meeting 31 Oct.

    Yes, it's a cash offer so you'll get the cash paid either to you if you hold a cert (or to your brokerage account if you hold in a nominee a/c).

    Seems to be little advantage in selling now unless you're in the camp that thinks it won't go through and that the price will then tank...
    Originally posted by Biggles
    Thanks Biggles, that's very helpful, I'll sit tight. CM
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