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Online Share Trading

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There we go...

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THRESHOLD
Super Contributor
So much for all the bad news - played out as scripted (pardon the pun.)
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8 REPLIES 8
SimonPB
Valued Contributor
yip, was almost too easy
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topgun
Super Contributor
But is the offer fair at a 20%+ discount to the written down nav which certainly undervalues the Pienaarspoort properties? I for one am not selling, unless forced out...the "nuisance" value of eliminating minorities from the corporate structure justifies a better offer.
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THRESHOLD
Super Contributor
In a word - NO - but then the market wasn't exactly interested in this stock anyway. Minorites in these micro-thingies pretty much always get the short end.
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topgun
Super Contributor
Sure, but still would like to hear what the "independent" experts advise as to the reasonableness of the offer. And whether the BEE partners and RE:CM will support?
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THRESHOLD
Super Contributor
RE:CM may well take the offer since they have other ideas for the capital. That still won't make the offer fair - and certainly not for the small investor. Don't you get fed up with these buyouts (forced) of the value counters?
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topgun
Super Contributor
Certainly, but unfortunately part of the risk in dabbling in these counters. Deep value often stays just that but then you do get the FGL's - well you did. Wonder when the ANA offer will come, as the costly listing just doesn't make commercial sense?
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THRESHOLD
Super Contributor
They have been playing games with ANA too. Currently sitting with over 2% of her equity. Went and had a look at her properties in CT the other day - just to reassure myself. So you're in this too...? We should follow the lead of cetain investment house and start talking incessantly about it in the hope of a price breakout.
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topgun
Super Contributor
Lol..yep. Reported tangible nav of the slimmed down property operation 174.5cps vs. shareprice of <50cps. Been picking up stock whenever below 40cps. IRA changing hands above the offerprice now..
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