BCS - BrisConnections Unit Trusts

[Absolutely]

What the hell is going on, Bolton is mad, crazy and nuts all put together.

It smells a bit to me, maybe another deal has been done that we dont know about.

The "White Knight" for retail investors has turned in to the grim reaper. This bloke will not be popular but he has saved himself to the detriment of all other retail holders.

There will be a huge backlash from the retail investors. If I were him, I'd be leaving the country fast.

 

[alphaman]

I wonder how much Bolton sold the shares for.

Hmm....hopefully MQG will work out a deal for the small shareholders.

 

[Judd]

Cunning. If my calculations are correct then Nick sold 77,400,933 partly paid for $4,500,000, ie $0.058 average when the maximum he would have paid (at $0.001) was $77401. Nice profit of $4,422,559.

No altruism in that boyoo.

See LEI's ASX announcement

 

[Enzyme]

I wonder how much Bolton sold the shares for.

I heard that Mr Nickolas Bolton, esq, of Melbourne sold his shares for a total $4.5 million.

(I hate having to pad out my posts now)

 

[Julia]

Had Bolton supported the wind up resolution the vote in favour would have been around 56% which would have has the RE on very shaky ground in relation to the other resolutions.

No deal has been done either according to the same article.



Perhaps Bolton just hit the panic button.

Don't think so. If he has sold his shares to Leighton's subsidiary Thiess as reported then presumably his end of the deal would have been that he would vote against his own resolutions because Leighton's obviously wouldn't want the whole venture to fall over.

 

[MeToo]

Look up the BCS company annoncements on the ASX. LEI has become a substanial holder.

This Bolton fellow has sold out. Look at page 10 onwards, secret deal struck.

http://www.asx.com.au/asxpdf/20090414/pdf/31h1pbc1s8clyp.pdf

 

[Absolutely]

Don't think so. If he has sold his shares to Leighton's subsidiary Thiess as reported then presumably his end of the deal would have been that he would vote against his own resolutions because Leighton's obviously wouldn't want the whole venture to fall over.

Yeah that's what I would be thinking. Where is the $4.5M sale price coming from? If so, the guy is a total genius.

Edit : Just read the announcement. Amazing stuff. But don't get it yet. Thiess John Holland could have got the shares from others for nothing.

 

[investorpaul]

This is absolutely crazy.

Bolton is a genius, just pocketed millions of dollars and has screwed everyone.

He has played/manipulated MQG, QLD Gov, retailer unit holders, the courts and fooled everyone. What a ballsy move and it looks to have paid off big time.

Obviously he will now be the most hated man around, but hes rolling in cash.

 

[sails]

Just had a look at the market depth on bcsca and now there is a buyer for 100,000 lots! Will be interesting to see what happens after the trading halt is lifted.

 

[alphaman]

Impressive indeed, and he did it with minimal risk. I used to think he got into the game only because he bought BCSCA by mistake, but now I think maybe he did plan something like this all along. Outcome bias is powerful indeed.

Anyway this should make him trader of the year.

 

[sails]

Impressive indeed, and he did it with minimal risk. I used to think he got into the game only because he bought BCSCA by mistake, but now I think maybe he did plan something like this all along. Outcome bias is powerful indeed....

Yes, it became clear some time ago that Bolton was in a different league to the mum and dad investors who had no idea of the future liability when they submitted their buy orders with a simple click of their mouse.

 

[Nyden]

Just had a look at the market depth on bcsca and now there is a buyer for 100,000 lots! Will be interesting to see what happens after the trading halt is lifted.

Hardly noteworthy, when compared to the lots for sale - 24,294,524 :

100,000 at 0.001 only makes up to be $100

 

[investorpaul]

How much will he want for the book rights?

This would make an awesome "tell all tale" book, i still cant believe what has happened. No one saw it coming.

At best I was thinking that he would have had the payment delayed, underwriters and the gov prop the project up

 

[drsmith]

This is absolutely crazy.

Bolton is a genius, just pocketed millions of dollars and has screwed everyone.

He has played/manipulated MQG, QLD Gov, retailer unit holders, the courts and fooled everyone. What a ballsy move and it looks to have paid off big time.

Obviously he will now be the most hated man around, but hes rolling in cash.

I too wonder how much he'll make from the book.

What I fail to understand is why Leighton didn't first attempt to buy a blocking stake on the ASX for $0.001. Had this been executed early enough, Leighton may have winkled out enough retail shareholders and left Bolton high and dry.

 

[Largesse]

I wonder how much he'll make from the book.

What I fail to understand is why Leighton didn't first attempt to buy a vote blocking stake on the market for $0.001

bolton clearly has or had an understanding far beyond what all of us can collectively comprehend.


words words letters words

 

[sails]

Hardly noteworthy, when compared to the lots for sale - 24,294,524 :

100,000 at 0.001 only makes up to be $100

Only noteworthy as there have been no buyers showing up in the depth for so long. I also notice there are 100,000 lots for sale at .3c. Perhaps Macquarie (or someone else) is going to "make a market" for the retail people to get out. If so, that 100,000 buy offer may be replenished... Of course, all conjecture.

$100 today but $200,000 future debt unless it's changed - not exactly spare change.

 

[Rastan]

Obviously he will now be the most hated man around, but hes rolling in cash.

Just out of curiousity, who would he be hated by? I just wanted to see that the hapless retail investors that mistakenly bought up endless debt got off the hook. That has happened, hasn't it? He white knoghts some retail inverstors, he obv bought a lot by himself as part of his plan.

Is Leighton the ones hating him? Isn't this leighton "backing themselves"... Dont forget they are are going to have to pay this debt, obviously they think its going to be worth something sometime and they will get their money back.

Sorry if I missed something, but I cant work out who would hate him if Leighton are happy to pay a "measly" 5 mil to cover their own massive contract for building the road... Retail investors are happy, MCQ and Deutch are happy, leighton, i suppose may be a bit peeved but will do the contract and get their money back...

what has it done to LEI stock price?

 

[jama_kj]

brilliantly played!!

i always thought he was in the game to strike a deal with the banks earlier on but once that didnt happen i thought maybe his plan backfired. he did it very well and you have to respect his ballsiness.

looks like he essentially got the 5.95c dividend he was after (77m*0.0595 = $4581500)

 

[Prospector]

Wow, what a move. Bolton was lamblasted as an ignorant nerd in some of the media, now it seems like he has pulled off the deal of a lifetime! Way to go, fooled everyone. (Not that I really understand what he has done )

 

[Absolutely]

Just out of curiousity, who would he be hated by? I just wanted to see that the hapless retail investors that mistakenly bought up endless debt got off the hook. That has happened, hasn't it? He white knoghts some retail inverstors, he obv bought a lot by himself as part of his plan.

Is Leighton the ones hating him? Isn't this leighton "backing themselves"... Dont forget they are are going to have to pay this debt, obviously they think its going to be worth something sometime and they will get their money back.

Sorry if I missed something, but I cant work out who would hate him if Leighton are happy to pay a "measly" 5 mil to cover their own massive contract for building the road... Retail investors are happy, MCQ and Deutch are happy, leighton, i suppose may be a bit peeved but will do the contract and get their money back...

what has it done to LEI stock price?

There's a lot of retail investors still in who were relying on his motion being passed to have a chance of not having to pay the coming installments. The likelihood is that they will now be pursued if they havn't managed to offload, and could lose everything.