How will this end?

[StuGers 477]

Too many TLA'a for me to comprehend here.

[Uilleam 5,621]

I am no expert, but it seems that the worst outcome will be that King, and the action applies to King only, will be forced to make an offer of 20p per share to all the other shareholders (excluding the 3 Bears). This will be, as every schoolboy knows, a complete waste of time and money. Non compliance would, presumably, be regarded as Contempt of Court.

 

King may be 'cold shouldered' by the Takeover Panel, irrespective of any CofS ruling;

 

"Cold-shouldering has only ever been meted out in two previous cases. This is an exceptional sanction which is delivered by issue of a public statement indicating that the offender is someone who in the opinion of the Panel is not likely to comply with the Code and typically specifying a period when the sanction is to remain effective. The rules of the UK Financial Conduct Authority and certain UK professional bodies oblige their members in certain circumstances not to act for such persons in a transaction subject to the Code..."

 

King may have difficulty in persuading fellow trustees to release monies to fund promotion of the entirely specious share offer.

 

There may be difficulties with a share issue to raise capital, until several hundred thousand GBPs are wasted; thereafter King, if cold shouldered, may have difficulties underwriting the issue or purchasing additional shares.

 

Whatever, it seems clear, through any looking glass, that the Rev Dodgson wins again.

[pete 2,499]

It was a bit stupid for him not to offer up any contrary evidence. The whole case is built up of presumptions and seems to be guilty until proved innocent. In the event of King losing the CoS and he makes an offer I doubt many will take it up although there may be some who think their shares will be diluted anyway and go for it. There are of course the penny shares holders who may take mach 20 offer.

[Uilleam 5,621]

Of course the lords of Session may take, as they have in the past, a "common sense" position, and refuse to enforce the absurdity of having to make an offer

for shares at below the market value of those shares.

I should not bet on it,

[boabie 230]

My understanding is that if the COS makes a ruling then King will be committing a CRIMINAL offence if he does not offer to buy the shares.

Certainly that's the way the mank "experts" have been slabbering for the past few months.

[Uilleam 5,621]

My understanding is that if the COS makes a ruling then King will be committing a CRIMINAL offence if he does not offer to buy the shares.

Certainly that's the way the mank "experts" have been slabbering for the past few months.

 

And their uncontrollable drools have dribbled furth of these places......

[union 0]

My understanding is that if the COS makes a ruling then King will be committing a CRIMINAL offence if he does not offer to buy the shares.

Certainly that's the way the mank "experts" have been slabbering for the past few months.

 

Whatever their origins they are correct that it is a criminal offence to defy the CoS.

[der Berliner 3,424]

It was a bit stupid for him not to offer up any contrary evidence. The whole case is built up of presumptions and seems to be guilty until proved innocent. In the event of King losing the CoS and he makes an offer I doubt many will take it up although there may be some who think their shares will be diluted anyway and go for it. There are of course the penny shares holders who may take mach 20 offer.

 

Then again, one would think that King has enough legal experts and expertise by now to know why he does what he does? You also wonder about the legal costs involved and whether they will top the cost of an offer for the shares?