(DGO.L) Dragon Oil PLC Buy/Sell

Excellent research Glo.

I've copied the reference to Ginger groups below. Maybe we should concentrate on the actual court hearing to make our point that this is a blatent attempt to rip-off the minority shareholders and request that the notice for the meeting imclude a message from us to those shareholders. Our interests are certainly not being represented by the BoD.

Also, I feel this is not a real offer but one designed to put a hold on our demands that the operation of the company by the BoD under the influence of ENOC is wrong and the funds in the bank should be used to either to expand DGO's operations or be repaid to shareholders. Its not a certainty that the share price will drop if the bid fails. I think it will rise significantly. If we succeed in blocking the bid we may be able to influence the running of the company and the BoD. They surely know that they are way out of line on this and could individually face class action litigation as a result - particularly if ENOC were to succeed in their bid and then flip DGO at a huge profit (£billions!) later.

Here's the reference to Ginger groups in the 'Ashurst' link:
'Ginger groups: There is, however, an
extra concern for bidders using a
scheme: in addition to achieving the
approval of 75 per cent of votes cast at
the meeting, they also need the
approval of a majority in number of
shareholders voting. As a result, a
relatively small group of disgruntled
shareholders can tilt the balance.'