ADI - Adelphi Energy

Kremmen · 8 July 2010

I was so hoping this wouldn't happen. So long as they had less than 90%, we might have been able to drag out the takeover long enough for me to get discounted CGT. I'm sure they'll move to compulsory acquisition rapidly, so I'm out.

gerkin02 · 8 July 2010

The compulary aquisition will take between 3 and 8 weeks,starting from monday the nineteenth of july.

All the best.

Bilja · 8 July 2010

Can someone run me through the compulsory acquisition process?

What price would they acquire at 42c? Or discount/premium by chance ??

Also, to get CGT exemption, is that calculated on a FIFO basis on units? What about if I bought some for a family member held < 1 yr?

vince3321 · 9 July 2010

Unfortunately, I am among the loser on this one. I bought ADI about 2 year ago when prices were much higher than 42c. I lost about 10k Not sure how I can recoup this one.

I also was a shareholder of Arc Energy before it was bought out by AWE.

AgentM what do you think about BRU? Any good to keep?

Bilja · 11 July 2010

How will this compulsory acquisition take place......Refer the High Court handing down its decision in Giancarlo Gambotto and Anor v WCP Limited and Anor (1995).

This proper purpose must not be exercised in an oppressive
manner. For the majority the expropriation of the shares of a minority cannot
be 'simply for the purpose of aggrandising the majority',11 nor 'merely in
order to secure for themselves the benefit of a corporate structure that can
derive some new commercial advantage'.12 Expropriation is only possible if it
is 'to secure the company from significant detriment or harm' such as to
eliminate a shareholder who is competing with the company (as was the case
in Sidebottom v Kershaw, Leese & Co),13 or where it is necessary 'to ensure
that the company could continue to comply with a regulatory regime
governing the principal business which it carries on'.

As well as the proper purpose test the other main issue discussed was that
of fairness. The majority discussed this notion briefly and held it involves
disclosure of all relevant information and also a fair price, which itself
involves a number of factors including the nature of the company and its
future prospects.18

nformation concerning the current and historical market prices of the
shares where they are applicable, the net book value of the assets, and the
value of the company both as a going concern and on a liquidation together
with any reports or appraisals prepared in relation to the alteration and
any firm offers for, or serious inquiries about the purchase of, the assets of
the company.

So in short, at what price will comp acq take place.....

REF:

http://epublications.bond.edu.au/cgi/viewcontent.cgi?article=1106&context=blr

philly · 12 July 2010

Bilja said:
How will this compulsory acquisition take place......Refer the High Court handing down its decision in Giancarlo Gambotto and Anor v WCP Limited and Anor (1995).

This proper purpose must not be exercised in an oppressive
manner. For the majority the expropriation of the shares of a minority cannot
be 'simply for the purpose of aggrandising the majority',11 nor 'merely in
order to secure for themselves the benefit of a corporate structure that can
derive some new commercial advantage'.12 Expropriation is only possible if it
is 'to secure the company from significant detriment or harm' such as to
eliminate a shareholder who is competing with the company (as was the case
in Sidebottom v Kershaw, Leese & Co),13 or where it is necessary 'to ensure
that the company could continue to comply with a regulatory regime
governing the principal business which it carries on'.

As well as the proper purpose test the other main issue discussed was that
of fairness. The majority discussed this notion briefly and held it involves
disclosure of all relevant information and also a fair price, which itself
involves a number of factors including the nature of the company and its
future prospects.18

nformation concerning the current and historical market prices of the
shares where they are applicable, the net book value of the assets, and the
value of the company both as a going concern and on a liquidation together
with any reports or appraisals prepared in relation to the alteration and
any firm offers for, or serious inquiries about the purchase of, the assets of
the company.

So in short, at what price will comp acq take place.....

REF:

http://epublications.bond.edu.au/cgi/viewcontent.cgi?article=1106&context=blr

Bilja,
this isn't the forum for this type of question you really need to seek out expert advice.
AWE has extended its bid by a week and will now close this Friday 16 July 2010 so the 42 cents per share is still on the table if you want to take it.

Agentm · 12 July 2010

vince3321 said:
Unfortunately, I am among the loser on this one. I bought ADI about 2 year ago when prices were much higher than 42c. I lost about 10k Not sure how I can recoup this one.

I also was a shareholder of Arc Energy before it was bought out by AWE.

AgentM what do you think about BRU? Any good to keep?

erik has been really confident on the canning

trojan are still backing it there

the part i dislike on the canning it the seasonal drilling aspect of it. in the wet you have to shut down

i watch the results a bit, but have not ventured into the share

pity you didnt add more adi in the .06 region.. could have averaged down..

cheers

skyliner · 31 July 2010

I must say im not happy that this can happen, it sucks you can spend years in a stock only to have it ripped from you at under fair value.

radioham6 · 1 August 2010

WRONG'UN said:
I'm out too.
This has been one of my best ever trades, and I thank all contributors to the fantastic thread, particularly Agentm - as Philly said, you are a legend.

Yes ADI...... I sold out in late Jun. The most I've ever made on the market to date. May I thank all the contributors to this wonderful thread. Especially Agentm! The forum has been a wealth of information especially this very thread, ( Thank you Joe) now it's time for another opportunity.

Bigukraine · 3 August 2010

after close of trade today ADI will no longer be quoted on the ASX

:goodnight:engel:

no more flogging to be imposed on this poor beast :horse:

Agentm · 3 August 2010

radioham6 said:
Yes ADI...... I sold out in late Jun. The most I've ever made on the market to date. May I thank all the contributors to this wonderful thread. Especially Agentm! The forum has been a wealth of information especially this very thread, ( Thank you Joe) now it's time for another opportunity.

its ok.. happy to put forward some info on the eagleford.. and adi.. anyone jumping in or adding at .06 like i did will be extremely happy with their investment..

its been great to hear that others have made a few $$$ on the share..

love to see people make a killing on the stock market..

also totally agree.. thank you joe for the forum and allowing this thread to continue

OK2 · 3 August 2010

Agentm said:
its ok.. happy to put forward some info on the eagleford.. and adi.. anyone jumping in or adding at .06 like i did will be extremely happy with their investment..

its been great to hear that others have made a few $$$ on the share..

love to see people make a killing on the stock market..

also totally agree.. thank you joe for the forum and allowing this thread to continue

ADI came to my attention at .06 because of some raving mad man who made a lot of sense. I jumped on board in a small way only out of curiosity and did quite well out of it. Thanks Agentm.

Anyone game to put in a substantial buy order for ADI by the end of the day?

J&M · 3 August 2010

OK2 said:
ADI came to my attention at .06 because of some raving mad man who made a lot of sense. I jumped on board in a small way only out of curiosity and did quite well out of it. Thanks Agentm.

Anyone game to put in a substantial buy order for ADI by the end of the day?

I would also like to thank Agentm I brought these at 18c1K, 26c1K, and
415c 1k total expecting an up swing
Total spent 3k sold for 5k maybe not much for the experienced share traders here but WOW not bad for me
re invested in AUT
Thanks Agentm

AngusSmart · 3 August 2010

You could try buy them today @ .41 and tomorrow probably get a call from AWE about their .42 delisting offer..

i doubt you will pick up a whole heap at that price tho and /or cover brokerage..

J&M said:
I would also like to thank Agentm I brought these at 18c1K, 26c1K, and
415c 1k total expecting an up swing
Total spent 3k sold for 5k maybe not much for the experienced share traders here but WOW not bad for me
re invested in AUT
Thanks Agentm

Did a very similar thing, but 2k in at 28c and sold at 42/..

thanks Agent and all involved spreading the news.. please jump over and continue on the AUT thread!! still should have alot more to run there!

ADI - Adelphi Energy

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