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Cobham PLC
Forum rules
Tight HYP discussions only please - OT please discuss in strategies
Tight HYP discussions only please - OT please discuss in strategies
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Cobham PLC
Cobham wasn't one of my best HYP picks. I had paired it with BAE.
There is shareholder agreement that the company should be sold at the offered price of 165p and it seems that the sale will be completed.
It's a pity because the company is well on the road to recovery now.
Search as I may on Cobham's web sight, I can't find any reference as to probable payment date for the outstanding shares.
Have I just missed it, or hasn't it been announced yet?
Changeable...
There is shareholder agreement that the company should be sold at the offered price of 165p and it seems that the sale will be completed.
It's a pity because the company is well on the road to recovery now.
Search as I may on Cobham's web sight, I can't find any reference as to probable payment date for the outstanding shares.
Have I just missed it, or hasn't it been announced yet?
Changeable...
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Re: Cobham PLC
Changeable wrote:Search as I may on Cobham's web sight, I can't find any reference as to probable payment date for the outstanding shares.
Have I just missed it, or hasn't it been announced yet?
https://www.investegate.co.uk/cobham-pl ... 00026893J/Court Hearing
A date expected to be no later than 14 days after the satisfaction or waiver of Conditions 2(a) to 2(f) (inclusive), which is expected to be before the end of 2019 (D)(6)
Effective Date of the Scheme(7)
D + 2 business days
Despatch of cheques and crediting of CREST for Consideration due under the Scheme
By 14 days after the Effective Date
https://www.investegate.co.uk/cobham-pl ... 10414702M/Results of Court Meeting and General Meeting held on 16 September 2019
So by my calculations that would be by 2nd October.
(I don't hold)
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Re: Cobham PLC
Changeable wrote:Have I just missed it, or hasn't it been announced yet?.
The latest news is that the Government has intervened on potential national security issues.
https://www.theguardian.com/business/20 ... ity-advent
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Re: Cobham PLC
Breelander + Alaric
Thanks for the information !
I can see that I'll have to be patient...
Changeable
Thanks for the information !
I can see that I'll have to be patient...
Changeable
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Re: Cobham PLC
I sold in the market a couple of days after the takeover was announced. There was talk at the time of the Govt intervening, they've been jolly slow about it.
V8
V8
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Re: Cobham PLC
88V8 wrote:I sold in the market a couple of days after the takeover was announced. There was talk at the time of the Govt intervening, they've been jolly slow about it.
By me, greed always triumphs and I never learn. Besides which, my average purchase price was 180p
I was hoping a higher offer would materialise from perhaps BAE...
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Re: Cobham PLC
Government approves takeover!!!!
But only a 5 p increase in price. Would have hoped for more. Paul
But only a 5 p increase in price. Would have hoped for more. Paul
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Re: Cobham PLC
It's some time since I last posted, (September!) asking when the payment for the compulsory sale of my shares in Cobham would be made.
I understand that after a very careful review, the government gave permission for the takeover to proceed...
Obviously I'm looking in the wrong place, but I can find no reference to the payment date on the Cobham web sight.
Does anyone have any idea when it will be made, or where I can find the payment date ?
Seasons greetings and I wish all the HYP board members most importantly, a very lucky New Year!
Changeable
I understand that after a very careful review, the government gave permission for the takeover to proceed...
Obviously I'm looking in the wrong place, but I can find no reference to the payment date on the Cobham web sight.
Does anyone have any idea when it will be made, or where I can find the payment date ?
Seasons greetings and I wish all the HYP board members most importantly, a very lucky New Year!
Changeable
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Re: Cobham PLC
An RNS issued by the company on 23rd December gives a revised timetable - the relevent dates are given as:-
Court Hearing 15 January 2020
Last day of dealings in, and for registration of transfers of, and disablement of CREST for, Cobham Shares 16 January 2020
Scheme Record Time 6.30 p.m. on 16 January 2020
Suspension of listing of, and dealings in, Cobham Shares 7.30 a.m. on 17 January 2020
Effective Date of the Scheme 17 January 2020
Delisting of Cobham Shares By 8.00 a.m. on 20 January 2020
Despatch of cheques and crediting of CREST for Consideration due under the Scheme By 31 January 2020
Long Stop Date 30 April 2020(1)
So, most importantly, payments by 31st January.
HTH
Court Hearing 15 January 2020
Last day of dealings in, and for registration of transfers of, and disablement of CREST for, Cobham Shares 16 January 2020
Scheme Record Time 6.30 p.m. on 16 January 2020
Suspension of listing of, and dealings in, Cobham Shares 7.30 a.m. on 17 January 2020
Effective Date of the Scheme 17 January 2020
Delisting of Cobham Shares By 8.00 a.m. on 20 January 2020
Despatch of cheques and crediting of CREST for Consideration due under the Scheme By 31 January 2020
Long Stop Date 30 April 2020(1)
So, most importantly, payments by 31st January.
HTH
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Re: Cobham PLC
Davidsb wrote:An RNS issued by the company on 23rd December gives a revised timetable - the relevent dates are given as:-
Court Hearing 15 January 2020
Last day of dealings in, and for registration of transfers of, and disablement of CREST for, Cobham Shares 16 January 2020
Scheme Record Time 6.30 p.m. on 16 January 2020
Suspension of listing of, and dealings in, Cobham Shares 7.30 a.m. on 17 January 2020
Effective Date of the Scheme 17 January 2020
Delisting of Cobham Shares By 8.00 a.m. on 20 January 2020
Despatch of cheques and crediting of CREST for Consideration due under the Scheme By 31 January 2020
Long Stop Date 30 April 2020(1)
So, most importantly, payments by 31st January.
HTH
Thanks !
The question I ask myself is why didn't I also receive that RNS ?
Now I shall wait patiently until the end of January, but I'm not at all happy that Cobham was sold when it was clearly on the road to recovery and the market for its products is improving.
I wonder just what the interest of the management was in selling it at that moment... ?!
Changeable
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Re: Cobham PLC
Ditto in all respects. So is it 165p p.s. we are finally getting? And what should we do with the paltry proceeds? The only thing that inspires me at the moment is certainly not HYP so I had better stop here.
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Re: Cobham PLC
Hi Changeable -
The question I ask myself is why didn't I also receive that RNS ?
Well, I (in common with a number of other TLF contributors) have suffered from a complete absence of Investegate RNS emails in recent months.
I looked at a number of suggested solutions, but in the end I decided to just log into the Investegate website every couple of days, select the My alerts option (top right-hand of the screen, next to my name), click on the Announcements filtered by registered alerts button (at the foot of the My Alerts list) and scan the displayed list of RNS's for anything which seems to be of interest.
Not sure how this system will work when I take a holiday away from the Internet, but it has worked thus far.
HTH.
The question I ask myself is why didn't I also receive that RNS ?
Well, I (in common with a number of other TLF contributors) have suffered from a complete absence of Investegate RNS emails in recent months.
I looked at a number of suggested solutions, but in the end I decided to just log into the Investegate website every couple of days, select the My alerts option (top right-hand of the screen, next to my name), click on the Announcements filtered by registered alerts button (at the foot of the My Alerts list) and scan the displayed list of RNS's for anything which seems to be of interest.
Not sure how this system will work when I take a holiday away from the Internet, but it has worked thus far.
HTH.
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Re: Cobham PLC
And from today's announcement...
Settlement
Scheme Shareholders' consideration under the terms of the Acquisition will be settled or despatched by no later than 31 January 2020.
Suspension and cancellation of listing and trading
Dealings in Cobham Shares were suspended with effect from 7.30 a.m. (London time) today. The listings of Cobham Shares and Cobham Preference Shares on the Official List and the admission to trading of Cobham Shares and Cobham Preference Shares on the London Stock Exchange's Main Market for listed securities are, in each case, expected to be cancelled with effect from 8.00 a.m. (London time) on 20 January 2020.
Settlement
Scheme Shareholders' consideration under the terms of the Acquisition will be settled or despatched by no later than 31 January 2020.
Suspension and cancellation of listing and trading
Dealings in Cobham Shares were suspended with effect from 7.30 a.m. (London time) today. The listings of Cobham Shares and Cobham Preference Shares on the Official List and the admission to trading of Cobham Shares and Cobham Preference Shares on the London Stock Exchange's Main Market for listed securities are, in each case, expected to be cancelled with effect from 8.00 a.m. (London time) on 20 January 2020.
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Re: Cobham PLC
Pay date is 3l January but acc. to Interactive Investor it could take up to 10 days longer to hit my account.
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