Neratel

[stam]

Anyone know when this take over will be settled???

[stam]

No news yet on ST's take over date????

[lonewolf]

Finally an update on the take-over.

A notice of scheme meeting to be held on 6 July 2012 at 3.30 p.m. at Ballroom 1 (Level 3), Hilton Hotel.

[ S O U R C E ]

Frankly if you ask me, sometimes such meetings are a waste of time and money since the controlling shareholder, Eltek ASA (50.05%) has already given an irrevocable undertaking to vote for the scheme. So even if the rest of the shareholders vote against the resolution, it will still get pass.

Really moronic if you ask me. (Vested and will be voting against the resolution)

[cif5000]

Frankly if you ask me, sometimes such meetings are a waste of time and money since the controlling shareholder, Eltek ASA (50.05%) has already given an irrevocable undertaking to vote for the scheme. So even if the rest of the shareholders vote against the resolution, it will still get pass.

Really moronic if you ask me. (Vested and will be voting against the resolution)

I got this wrong too. For the scheme to be approved, 2 conditions must be met: -

7.8.1. The Scheme has to be approved by a majority in number of Shareholders AND 75% in value of the Shares voted at the Scheme Meeting and is binding on all Shareholders The Scheme has to be approved by a majority in number of Shareholders present and voting, either in person or by proxy, at the Scheme Meeting, such majority holding not less than 75% in value of the Shares voted at the Scheme Meeting. Once approved, the Scheme will be binding on all the Shareholders, whether or not they were present in person or by proxy or voted at the Scheme Meeting.

Although Eltek has 50.05%, they have only one number of shareholder. In this meeting, numbers count. Make yourself present if you want to vote this down. Good luck.

[VestedInterest]

Anybody going for the Scheme Meeting this 6 July? How are you going to vote?

[morten]

Anyone here going? Want to meet up for coffee first before the EGM?

My tel 92771800

[VestedInterest]

Anyone here going? Want to meet up for coffee first before the EGM?

My tel 92771800

Scheme was NOT approved at the meeting! What now for the share price?!

[lonewolf]

Score 1 for the minority shareholders but it was mighty close.

[Image: Neratel_cr.jpg]

Despite an overwhelming voice at the meeting opposing the scheme, I have to admit it came as a surprise that 139 actually voted for the scheme. I guess there was a lot of proxy votes that silently turned up and cast their votes for the scheme.

[heifien91]

Hmm so has the company been privatized? If the two criteria have to be met then I am assuming that Neratel privatization has failed this round?

[newyorkcityboy]

heifien91, neratel isn't privatised. As a result, the price could tank on Monday due to the "merger arbitrage" breaking down + general market weakness.