ADI - Adelphi Energy

[Kremmen]

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]

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

All the best.

[Bilja]

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]

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]

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).

[i]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...06&context=blr

[philly]

Quote: Originally Posted by Bilja 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). [i]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...06&context=blr

[Agentm]

Quote: Originally Posted by vince3321 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?

[skyliner]

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]

Quote: Originally Posted by WRONG'UN 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.

[Bigukraine]

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







no more flogging to be imposed on this poor beast

[Agentm]

Quote: Originally Posted by radioham6 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.

[OK2]

Quote: Originally Posted by Agentm 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

[J&M]

Quote: Originally Posted by OK2 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?

[AngusSmart]

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..

Quote: Originally Posted by J&M 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