Originally Posted by
runway30
Well the shareholders can reject the 1p offer if they wish but clearly the directors don’t think it is possible to carry on as an independent company. Andrew Tinkler must have paid more than 1p per share for his 10% stake and so won’t be very keen to sell.
As he has an ongoing legal action then he may be keen to sell were an agreement reached on the legal dispute.
BIG problem however in that Connect bought the shares of Flybe Plc at a particular price and that offer is to the majority of shareholders. An official offer must be made at a certain fixed price. Stock market does NOT allow certain shareholders to get a premium price above other shareholders so holding 100 shares or 100,000 is irrelevant as you get same price.
Therefore if legal agreement settled, such that Mr Tinkler sold his shares at the certain fixed price in consideration that legal agreement was settled. A shareholder who had to sell his shares for 1p may say but Mr Tinkler because of his separate legal action, which forced a separate company involved in this deal to settle, got 12p per share then I should also get the same amount. I am not wholly sure there is settled law on this but can guarantee if I bought at 16p and lost 15p I would be going to court.