Rule 2.10 Announcement

[mawspurs]

Tottenham Hotspur Limited (“THFC”)

Read the full article at Official Site

 

[deadlight]

? What does this mean? Is a takeover imminent?

 

[EZSpur]

? What does this mean? Is a takeover imminent?

It looks like this is just part of the official bidding process

http://www.telegraph.co.uk/sport/fo...in-official-bidding-period-with-Cain-Hoy.html

 

[davidmatzdorf]

It looks like this is just part of the official bidding process

http://www.telegraph.co.uk/sport/fo...in-official-bidding-period-with-Cain-Hoy.html

That's the first article I have read about this possibility that sticks to information that we know and maintains a calm tone, as opposed to extending into the realms of speculation and exaggeration, in frantic pursuit of readers and clicks.

 

[TottenhamMattSpur]

I'm guessing Cain Hoy have invoked a rule that says we have to announce share prices etc in public.

 

[Lilbaz]

2.10 ANNOUNCEMENT OF NUMBERS OF RELEVANT
SECURITIES IN ISSUE
When an offer period begins, the offeree company must announce,
as soon as possible and in any case by 9.00 am on the next business
day, details of all classes of relevant securities issued by the company,
together with the numbers of such securities in issue. An offeror or
publicly identified potential offeror must also announce the same
details relating to its relevant securities by 9.00 am on the business
day following any announcement identifying it as an offeror or potential
offeror, unless it has stated that its offer is likely to be solely in cash.
Any such announcement should include, where relevant, the International
Securities Identification Number (‘‘ISIN’’) for each relevant security.
If the information included in an announcement made under this Rule
changes during the offer period, a revised announcement must be made as soon as possible.

 

[penfold_99]

That is one nice premium on the shares, current value £106m ish asking price £1bn or £4.70 a share.

Does anyone still have shares or did dannyboy force supports to sell them when they when private?

 

[Lilbaz]

That is one nice premium on the shares, current value £106m ish asking price £1bn or £4.70 a share.

Does anyone still have shares or did dannyboy force supports to sell them when they when private?

Remember the £1bn figure counts the financing for the stadium (if it's even true). The cost of buying us will probably be half that.

 

[TottenhamMattSpur]

Remember the £1bn figure counts the financing for the stadium (if it's even true). The cost of buying us will probably be half that.

I thought that'd be the case.
X amount to ENIC for ownership
Y amount to be ringfenced/promised for stadium
X amount to any remaining creditors

I'd imagine the Y isn't a cash amount either, rather a guarantee of acute finance to build it.

Call me a cynic, but I have a feeling the second this goes through (if it does) archway will sell up and clear off.....

 

[whitesocks]

Call me a cynic, but I have a feeling the second this goes through (if it does) archway will sell up and clear off.....

I think you are right, but more likely Levy has just aggravated them in his approach. He does seem to wind people up.

 

[Coyboy]

That's the first article I have read about this possibility that sticks to information that we know and maintains a calm tone, as opposed to extending into the realms of speculation and exaggeration, in frantic pursuit of readers and clicks.

Except that we aren't in the same "zip code" as Arsenal.

 

[davidmatzdorf]

Except that we aren't in the same "zip code" as Arsenal.

It's not from the writer, it's a quote from a third party. And I understood the quote as a figurative translation for the American reader.

 

[LexingtonSpurs]

Remember the £1bn figure counts the financing for the stadium (if it's even true). The cost of buying us will probably be half that.

Its even more convoluted - part will pay for the team, part will pay for the stadium, and part will pay for the real estate used for the stadium and surrounding development.

 

[TottenhamMattSpur]

I think you are right, but more likely Levy has just aggravated them in his approach. He does seem to wind people up.

I half believe the delay has been deliberately caused by levy/ENIC as they don't want to be the ones to finance the stadium. They want it ready to be built then sell up.

 

[davidmatzdorf]

I half believe the delay has been deliberately caused by levy/ENIC as they don't want to be the ones to finance the stadium. They want it ready to be built then sell up.

You second sentence is quite plausible. If the risk-profit trade-off looks best that way, then that is what they might well do, but it would require an offer well in excess of market value for the club.

Your first sentence is not linked to reality. Every iteration of delay is costing ENIC money. Any suggestion that ENIC are engineering the delay is basically paranoid and ill-informed. Externally-imposed delays, such as CPO approvals and planning consents, are the bane of the development industry and they don't normally have an up-side.

Also, there is no causal connection between such a delay and ENIC being 'the ones to finance the stadium'. There has never been any intention of ENIC internally-financing the development. They have always been plain that it requires a complex of loans from outside the club, probably combined with money from equity investors and a naming rights deal.

There is no way that a delay in making the site available for building works would benefit any of that - it's a purely negative influence on the viability of the project and also on the saleability and overall value of the club.

 

[Jules77]

That is one nice premium on the shares, current value £106m ish asking price £1bn or £4.70 a share.

Does anyone still have shares or did dannyboy force supports to sell them when they when private?

Well, it states the shared were 'issued' at 5 cents, not that that is what they are worth today.

What they are worth today is what both parties will now try to work out!

 

[Jules77]

Except that we aren't in the same "zip code" as Arsenal.

he just means that we are a comparable club in terms of investment ... aka 'in the same ballpark'

 

[ginola007]

In the end, does it matter who owns the club as long as the owner injects cash to buy good players and gets the stadium built.

 

[strader]

WOW, now imagine my eyes moving left to right .....

Dont know which confused me more, the title of the thread or what you guys just explained.

*moves back to the match day thread* now i can understand what people are talking about.

 

[Lilbaz]

Well, it states the shared were 'issued' at 5 cents, not that that is what they are worth today.

What they are worth today is what both parties will now try to work out!

Not sure if it's cents. We use proper money in this country