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OCV, OCTAVIAR LIMITED
Geekay
post Posted: May 8 2008, 01:55 PM
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In reply to: EMD on Monday 28/04/08 06:36pm

Announcement that Octaviar Investment Management is likely to be sold (via a option) to Wellington Capital. Jenny Hutson is on the board of both OIM and Wellington.

"The call option is exercisable by Wellington Capital at any time up to and including 31 August 2008. In the event the call option is exercised, the purchase price payable by Wellington Capital for the acquisition of Octaviar IM will be equal to:

a) a multiple of four times the actual profit of Octaviar IM for the 12 months period following the acquisition; plus

b) the value of the net tangible assets of Octaviar IM at the end of that 12 month period."

Hopefully signalling the premium Income Fund will remain a going concern and the investors get most of their money back.

 
EMD
post Posted: Apr 28 2008, 06:36 PM
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In reply to: Duster on Monday 28/04/08 05:14pm

Good thinking 99. smile.gif

I might ask a few people at work....they'd probably know.

 
Duster
post Posted: Apr 28 2008, 05:14 PM
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QUOTE (EMD @ Monday 28/04/08 05:05pm)


QUOTE
wouldn't it be at what ever price you negotiated?


No I doubt it, as the tax man wouldn't look too kindly at me transferring them to the Mrs at $100 per share so she could claim the loss on re-listing, whilst I offset the gain against other losses. I'm sure it has to be an arms length transaction but you probably now know the reason for my question.

Cheers





--------------------
Patience is the key to success.
 
EMD
post Posted: Apr 28 2008, 05:05 PM
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In reply to: Duster on Monday 28/04/08 04:50pm

Duster, and I'm guessing here...wouldn't it be at what ever price you negotiated?

Apparently no mention of relisting in todays announcements. They could have told us something, at the very least.

 
Duster
post Posted: Apr 28 2008, 04:50 PM
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Re: transfer of OCV shares,

Does anyone know if an off market transfer to a third party can legally be executed whilst trading is suspended ? If so, would it be done at the last sale price ?

Thanks in advance.



--------------------
Patience is the key to success.
 
ShareScene.com
post Posted: Apr 9 2008, 11:57 AM
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Topic rename

From:
MFS LIMITED (MFS)

To:
OCTAVIAR LIMITED (OCV)

Thankyou
Sharescene.com

 

sentifi.com

Share Cafe Sentifi Top themes and market attention on:


jaded
post Posted: Mar 29 2008, 05:54 AM
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Isnt this beautiful.
Andrew Peacock"I take no responssibilty for running the company into the wall even though I was chairman" get a life.
http://www.theaustralian.news.com.au/story...116-643,00.html

 
Crang
post Posted: Mar 28 2008, 09:56 AM
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In reply to: sjlittle on Friday 28/03/08 09:54am

true...true.

 
sjlittle
post Posted: Mar 28 2008, 09:54 AM
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In reply to: Crang on Friday 28/03/08 09:45am

Correct me if i'm wrong, but I think the margin loans they were talking about were at a company level. Nothing to do with the margin loans of the directors which I'm assuming are still looming as some sort of problem.

 
Crang
post Posted: Mar 28 2008, 09:45 AM
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'Coop, what do you make of this announcement?

Very light, however at least the margin loans have been cleared up.

Mmm....we wait.

 
 


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