dpc are fxxxed and now they are carrying that status onto their new siblings...... the sins of the father will be vested on the son
dpc are fxxxed and now they are carrying that status onto their new siblings...... the sins of the father will be vested on the son
So it makes sense for DPC and St Lawrence to merger and use DPC as backdoor listing? This is good news for DPC. Where does Brett King come into all of this?Quote:
quote:Originally posted by Contrarian
Gidday
St Lawrence & DPC "White Knighting" each other.
St Lawrence own 15% of DPC
DPC own 25 % of St Lawrence
What do you people think? , I'm not impressed.
Also
Bridgecorp owns c19% of DPC.
STL has security interest over Bridgecorps shares in DPC as well.
Looks like a 3 way play to shut out Mr King.
We could be seeing one much larger finance company shortly.
Cheers
Once you reach 20%+ doesnt it trigger a takeover offer to all shareholders?
ok any guesses on what happend this morning?Quote:
quote:Originally posted by Bling_Bling
Once you reach 20%+ doesnt it trigger a takeover offer to all shareholders?
I assume Bridgecorp couldnt pay the loan when the time was up, so Laurance got the shares CHEAP. Huge lost for Bridgecorp. The question is what now for the remaining share Bridgecorp is holding? Effectively Laurance have trumped any potential T/O for DPC. This is looking interesting. Will have to wait and see Green and King's next move.
Well its reassuring, for me at least, to see part of my analysis posted earlier coming true.
Ducks are starting to come into line and more action will presumably follow in the weeks ahead. Green and Kings role/interest going forward is the big unknown but I suspect they are still only in for the short haul and their exit is close leaving St Laurence and DPC to progress their stated merger ambitions - a great outcome. Given St Laurence is at 19% any exit of Green and/or King by sale to St Laurence would mean minor shareholders like myself stand to share in the deal as it would trigger the takeover rules which state that the price offered to King/Green must be offered to all. Both King and Greens average purchase price is somewhat higher than current market price and they won't be letting their shares go for a song and this is the basis for holding my 20,000 shares.
Bridgecorp should also be posting a SSH notice very soon.
Bridgeorp SSH notice finally posted and they are now all out of DPC.
Bridgecorp out of DPC is a buy signal IMO.
Ignoring TA (sorry Phaedrus) this is pretty much what we thought might happen.
Fundamentally for me, DPC is looking a better investment although it still needs to shake out either HG or BK to remove the uncertainty.
Just like the RBC situation, it will take more unravelling before the shareholders see some of the unlocked value, especially in the undervalued insurance division.
Disc: Am watching closely now Bridgecorp are out.
It loooks like the little ducks are lining up.
STL is cashed up and strong [just raised $22m]
DPC is cheap [well not way overpriced]
Petrovic has sold to someone probably not Mr King
It looks like the objective of keeping Mr King out will be achieved shortly. Although he will make a nice little profit
Watch for an amalgamation with Bridgecorp and newco before new regs come into play.
Win win win. St Lawrence gets greater retail exposure, Bridgecrap gets a get out of jail free pass.
I see that the Herald says that the Bridgecorp stake was sold in an off market transaction including H Green & St Laurence. If this was so I would have thought that it would take their respective stakes to over 20%.
I decided to buy in a couple of days back-looks a good spec now.
I'm going to try to buy today, hopefully there won't be an SSH or TAK announcement early on. I was going to get a new car this week, maybe I'll be able to get a better one next week.
Cheers
Business StoryRSS
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Bridgecorp sells stake
Email this storyPrint this story 5:30AM Tuesday April 24, 2007
Finance company Bridgecorp confirmed yesterday it has sold its 18 per cent stake in rival finance group Dorchester.
A statement said the stake was sold in an off-market transaction to parties including Hugh Green Investments and St Laurence Mortgage Holdings.
If this is true then both HG and SL shareholding will breah 20% and should trigger a T/O offer for the rest of DPC shares. Where is the SSH notice??? Come on we are waiting! :)
DPC issued new shares to St Lawrence Mortgage Holdings, meaning existing shareholdings were watered down by the 13% share issue. This allows existing shareholders who were previously at the limit to buy more shares without triggering the limit threshold. St Lawrence Mortgage itself could buy an extra 7% or so without triggering a general offer.Quote:
quote:Originally posted by Bling_Bling
Business StoryRSS
--------------------------------------------------------------------------------
Bridgecorp sells stake
Email this storyPrint this story 5:30AM Tuesday April 24, 2007
Finance company Bridgecorp confirmed yesterday it has sold its 18 per cent stake in rival finance group Dorchester.
A statement said the stake was sold in an off-market transaction to parties including Hugh Green Investments and St Laurence Mortgage Holdings.
If this is true then both HG and SL shareholding will breah 20% and should trigger a T/O offer for the rest of DPC shares. Where is the SSH notice??? Come on we are waiting! :)
Thanks Halebop-I had missed that point.