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Lesotho are not shareholders but they have rights to a % of the sales revenue I believe.
The debt has been restructured and profits should now grow. The next major decision, probably in 2024, is on the 3rd cut which enable deepening of the mine to extract kimberlite from more of the higher value zones for another 3+ years.
If production continues profitably, I would hope the decision will be to proceed.
FDI is now a private limited company...
I still hold my shares.
Production is ongoing post the financial & other restructuring.
The web site is being re-developed.
Debt is now being paid off with some profit, although we are short of the last quarter's operational figures.
Is anyone else here still a shareholder?
GUTTED!!
Missed the Lloyds Corporate Action! Can't believe they sold without my consent and done it unilaterally...
So being forced to accept the offer through my nominee holding account. Lloyds. Has now cost me £25 for them to transfer my holdings into a certificate so I can not accept the offer. Jeez..
There’s big fanciful diamonds in that there ground.
Another derisory offer extending the acceptance deadline. I was under the impression 25% of FDI was owned by the country of origin. Have they sold out ? How can they say the own 83% if they have not. I was under the impression all shareholders have to be treated the same ?
Looks like it’s all over!
Just had this notification from Lloyds.
Lloyds share dealing are accepting the offer unless I take my shares as a certificate at my cost.
See below.
“SHARE DEALING ACCOUNT
Printer friendly view
FIRESTONE DIAMONDS PLC - Important Information
Cash Offer by PRRF II Investment Holdings LP (PRRF II).
0.01 of a penny for each Firestone Diamonds (Firestone) share held.
Please be advised that as the Offer is expected to close on 12th September 2023, we will now take up the Offer on behalf of all our remaining shareholders.
Should you prefer for us to not accept the Offer on your behalf and wish to withdraw your holding as a certificate (usual charges will apply), please contact our call centre before 6th September 2023 to advise us not to accept the offer.
Further to our previous correspondence of 14th June 2023, as at 6.00pm on 9th August 2023, PRRF II had received valid acceptances of the Offer in respect of a total of 656,780,125 Firestone shares, representing approximately 83.18 percent of the Existing issued share capital of Firestone.”
Yet another derisory offer to ignore. As one commentator put it they are probably mining as we speak to pay off the debts but exclude the loyal shareholders. The temptation is to sell to reduce capital tax liabilities but that would be false economy. The regulator needs to look closely at the people/companies trying to take this company out of public ownership and their tactics.
http://www.firestonediamonds.com/wp-content/uploads/Extension-of-the-Offer-Announcement.pdf
An offer that remains open until further notice...hoping that people will crack...
Cash Offer by PRRF II Investment Holdings LP (PRRF II).
0.01 of a penny for each Firestone Diamonds (Firestone) share held.
Please ensure you submit your option before 18 September 2022 23:59 to enable us to process your instruction in accordance with the Company's current published timetable for this event. This timetable may change as explained above.
It has been announced...agree or disagree?
https://www.firestonediamonds.com/investors/news
Firestone has been cancelled on AIM, but shares can still be bought and sold at JP Jenkins through your broker.
https://www.firestonediamonds.com/wp-content/uploads/FDI-start-of-trading.pdf
well that didnt work!
Yes I agree, I’m holding and willing to gamble my holding for the event if a miracle.
How the hell can the Directors say that delisting is in the best interests of the shareholders when we are already down over 70% since the announcement.Call me suspicious,but i can't help wondering if they have already made a good discovery which will suddenly come to light when they've delisted.I will be watching closely with interest.The trouble is now,i don't know whether to sell now and take a 95% loss or hold in the hope that one day they make that great discovery.I don't have a lot more to loose anyway.I'm just sorry i ever started trading in shares.I would have been a lot richer.If the last couple of weeks haven't put people off investing on the stock market i don't know what would.Anyway that's the end of my rant for the week.
So the company is delisting from AIM. can't blame them for that with a £2.million valuation.whot I would like to know from someone who knows whot there talking about.how will it affect me with my 1.2.million shares thanks in advance
I suffered a share delisting and going private...one of that ****s
Woodfords wonder stocks. Trust me it did not end well for pis despite all the bull**** waffle from W that away from the day to day scrutiny of public mrkts the Co could grow and thrive.
Yea, bloody right it could. Despite c.£80m pumped in by investors over 20 years the Co could not raise 2/- at the final curtain.
The Co was laid low by the NHS preferring to adhere to practices last seen in the Middle Ages than a device that was leagues ahead of any competition in the blood gas analysis sphere.
Dont bank on any rescue from Father Christmas. Prepare yourself for the worst, cut losses and move on. I failed to do that thinking that an iis would pick up the stock and provide further funds to get the Co to commercialisation. Nah, never happened! To read the full history go to Sphere Medical an example of a great British start up let down by British business obsessed with investing in corner coffee shops and the like.
What an odd comment Manners - a BOD would rarely propose a de-listing unless they were reasonably confident of it being voted through... to propose a de-listing that was voted down would seriously undermine them, or if it failed by a wide margin even call into question whether they were attempting to manipulate the SP.
Most recent example I'm aware of is Cloudbuy - the company was next to worthless at the time the vote took place (maybe a £0.5m MCAP), and the boards were filled with PIs claiming it would never go through, everyone was voting against etc. and even then it was still voted through 75.88% / 24.12%.
The fact is that those who should loudest on these forums often have less skin in the game.
Going to disagree Manners. De-listing is quite common, especially when the outlook is as grim as this. FDI was always a call option on finding big stones, which they didn't. The delisting gives the big equity position holders and debtors some hope as they can afford to sit it out and wait for a private buyer in the future. PIs could go for the matched bargain market but unless you're really big in FDI it's rarely worth the bother. Cut and run while you can.
And they already have 74.19% of supporting votes, so only need another 0.81% to de-list on AIM
The AIM Rules require that, unless the London Stock Exchange otherwise agrees, the Cancellation must be conditional upon the consent of not less than 75 per cent of votes cast by the Shareholders, given in a general meeting of the Company.
ok thanks Manners
Seen this lots before, hardly ever ends in a delist. The price should pick up in the short term.
What exactly does it mean if the vote to delist is approved, does it mean all share value is nothing?
I admire the courage and optimism of those buying even at this price!
Last year someone on this board forecast this scenario, can't remember who.