MHJ - Michael Hill International.

[CJ]

Also makes you wonder why they want it. They have effective control now anyway with 45% so the only think they couldn't push through is something that requires 75% or something that only requires 50% but everyone else would vote against (which almost never happens)

[blackcap]

Belg, with you on this one... but why are the ACC and the other fund selling some of their shares? I wouldnt mind knowing the rationale behind this. Also if they creep provisions are in place and they can purchase up to 5% of shares in any one year... that will seriously underpin the shareprice one would think. Interesting... the free float on shares will be even less once Durante have their 50.1%... Happy holder at this stage

[winner69]

Things going so well for MHI (todays announcement) nobody should sell into his offer eh

[K1W1G0LD]

Yes, Winner, I would'nt be selling these shares anytime soon. This guy is a smart cookie and MHI is bucking the current gloomy retail forecasts. If they keep posting positive profit announcements and the US market picks up this share could easily hit a $1 plus , regardless of the buyback . I'm a happy holder.

[blackcap]

a cynic would say he should have waited with the announcement.... :P

[blackcap]

looks like they are having trouble getting enough acceptances at 90 cents. Can and will they raise their bid?

[blackcap]

Agree Belg, got a letter in the mail today from Durante, signed by Sir M himself. Smacks of desperation...

[Phaedrus]

Durante have received acceptances for 78% of the 9 million shares required to declare the Offer unconditional.

They claim to be "encouraged by the response and confident that the Offer will succeed".

We'll see.

[K1W1G0LD]

Totally underwhelming response to this result and the ordinary dividend ........................I think everybody wants to know whether or not MHI reach their target and whats going to happen if they don't. Until then the shareprice is going nowhere.

[_Michael]

Totally underwhelming response to this result and the ordinary dividend ........................I think everybody wants to know whether or not MHI reach their target and whats going to happen if they don't. Until then the shareprice is going nowhere.

Am I the only one that thinks having one family own a controlling stake is a huge negative?

I like this business and Michael Hill but it really does mean there can never be a truly independent board and any large decisions will be at the whims of the Hill family if they have 50.1%

Or am I missing something and they do not have voting rights on all of their shares?