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STHO is advising his followers this is now an "arbitrage" opportunity. A risk free 78% gain atow: buy on LSE at 10.92p and wait for the switch to ASX and magically those shares will be worth AUD 0.34.
Note the illiquidity on ASX and the historical Free Cash Flow:
`16: (4.13m); `17: (6.53m); `18: (6.52m); `19: (3.40m); `20: (6.15m); `21: (2.38m); `22: (5.60m)
You have been warned. This is the same ST who said it is impossible to lose money in the 3rd year of a US presidential cycle.
(Yes you heard that correctly....Jeesh)
It’s worth highlighting the start of that IC article:
‘ Annual results from Metal Tiger (MTR:9.5p), an Aim-traded investment company primarily focused on undervalued natural resources opportunities, have been completely overshadowed by news that the board is proposing a delisting of the shares from London’s junior market and adopting a new investment policy.
Subject to shareholder approval at a general meeting on 20 March 2023, the Aim listing will be cancelled on 31 March 2023. The company will retain its listing on the Australian Stock Exchange, so UK shareholders will still be able to trade their shares as their holdings will automatically be transferred to the Australian share register. However, the news prompted a 30 per cent share price fall, taking the price down to less than half the company’s 19.8p a share net tangible asset value on 31 January 2023 and below the 11.8p entry point in my 2020 Bargain Shares Portfolio.“
Now investors are clear that they can still trade their shares when the listing moves to Australia and that the shares currently trade at a much higher price in Australia, the 30% fall on the recent delisting news should be quickly reversed.
Interesting view from Simon T.
https://www.investorschronicle.co.uk/ideas/2023/03/06/this-stock-moving-its-listing-to-australia-just-made-it-a-bargain/
I dont think mtr has been headquartered in the uk for quite some time
i think they moved to cheaper offices and to be in the same time zone as the majority of the investments
https://www.asx.com.au/documents/settlement/CHESS_Depositary_Interests.pdf
https://www.metaltigerplc.com/investors/cross-border-movement-of-shares-cdi-s
I have found out that the above service is MTR's Registrars. I was told they have offices in Australia and around the world including the UK. So if that's the case transferring my HSDL nominee shares to Link Asset Services into my own name may not be as bad as my SFR holding, their Registrar is a different company (Automic)
Why is the share price on the LSE 9.5 p and on the ASX 33 cents converting to about 18p?
Where is this circular they have spoken about on the MTR website I can't find it.
I also have my holdings with HSDL and they don't trade with the ASX, so I'm FOOKED to trade after this change.
I have the same problem with SFR shares I hold with HSDL, What a nightmare trying to get the dividends when they were paying them, although I did eventually get them, but I can't sell the shares through HSDL.
As well as the fact I couldn't participate in any of the recent fund raises they have had.(Don't know whether that was SFR's decision)
Will MTR/Strata still have their company HQ in the UK?
It’s not a company name change that’s needed but a change of the companys management .
This is a cluster f''' in my opinion.
The rot set in at the consolidation back on July 1st 2020.
The ramping crew bleated on about how good it would be, company making and anyone who disagreed got verbally berated for not toeing the company line, Hydrogen being one of the bell ends.
I would post the thread as proof, but its been deleted.
Suffice to say, we have gone from 24p after consolidation to the sorry state we are in now.
Now de-listing from AIM, which may, or may not be a smart move, but i suspect that in a few years time, say, 5, they will be back on AIM and the SP will be a lot lower.
THESE are my views. my opinions.
Reading through a recent asx announcement it looks like mtr purchased 16.6 mil souther gold shares
135k dreadnought shares and 3 mil omega oil n gas after year end
year end cash 885k
so they have spent about 400k
The Board intends to change the name of the Company to Strata Investment Holdings plc (although this will not require Shareholders’ approval)
Shareholders’ consent in a general meeting of the Company, which would otherwise be required pursuant to AIM Rule 41, is not required for the AIM Cancellation. The Company expects the AIM Cancellation to take place at 7.00 am on 31 March 2023.
I'd say it's the biggest news ever, yet MM can't even do a proactive interview to explain what's going on. Unlike when he did the innovative collar financing, (the big short part two) then he was all over, interviews left right and centre.
Also did I read they want to change the name to strata investments or something like that.
Just a bit of fun TT. Not much time and not much effort!
Remember... there's nothing illegal in what MTR has ever done... now you may argue the ethical side of things but that ain't gonna get you anywhere, its a very slippery slope...
lol... waste of time and effort. Best to learn how to invest or just quit the game. Being very serious here!!
Stock market is not for everyone, for the many it's like asking a butcher to design a rocket... he can try as hard as he can but without the in-depth knowhow, he's doomed to failure.
Based on my years of amateur (some might say amateurish) investing, managing my portfolio of relatively small holdings of shares, I am considering writing to the Home Secretary recommending legislation is passed to introduce a new crime into UK law. The legislation would be called the Prevention of the Abuse of Small Shareholders Act.
In general terms the Act would provide that any company Chairman (or woman), company Secretary, Director (exec or non-exec), employee , independent contractor or any person of significant influence in a company, either currently or in the past, who is or has been in receipt of a ridiculously high salary, unearned bonus, outrageous share privileges or any other benefit at a time when they performed no useful function or performed such a function without substantial benefit to the company should be guilty of the offence of abusing the company's shareholders.
Performance would be assessed by reference to the to the value of dividends paid to shareholders and the company's share price at all relevant times.
Persons found guilty of the offence of abusing shareholders would be subject to a custodial sentence of between 25 years and whole of life. The Act would also empower the presiding Judge to confiscate any/all remuneration/benefits received by an offender during any period he/she was found to be in breach of the Act with all funds thus confiscated being distributed equally to the company's shareholders by way of a special dividend. Naturally persons found guilty of an offence under the Act and their families/associates would be excluded from this dividend.
Trial would be by jury and in order to achieve a satisfactory level of convictions membership of the jury would be limited to those shareholders of the company in question who were victims of the defendant's crimes-sorry, alleged crimes.
The Act would also stipulate that any person (such as a person with a large shareholding) who had colluded or conspired with, or otherwise assisted in the commission of an offence under the Act by another person would also be guilty of an offence, punishable in the same way as for primary offender.
Finally the legislation would provide that the remuneration packages of all the afore mentioned persons, should be subject to the approval of all small shareholders excluding those who had been in receipt of any special share privileges not open to all shareholders.
Clearly in submitting this proposal to the Home Secretary it will be useful to quote examples of companies/individuals who conducted themselves in ways the Act is intended to prevent. So, if any member of the forum can bring to mind any such examples I would be grateful if they could provide details.
Lowering the price from 0.27-0.60p not only shows that these guys are taking care of themselves (at the expense of shareholder's dilution once the options are exercised) but also confirms the their lack of confidence for the SP ever reaching 0.27-0.60p.
This is worse than daylight robbery.
MM's paid himself a nice a £150k bonus on a £189k salary in 2021... a year during he cooked up a Non-Cash $4.16m profits of which $5.2m was on the back of asset revaluation i.e. non-cash BS paper profits which have now completely vanished. Not a bad compensation package for a year during which MTR made effective losses of $1.04m.
Let's see what's he's paid himself in 2022!!
Also does anyone know when MTR are delisted on Aim and we only have our interest in company as CDI holders do we have voting rights in future AGMs? Assume the AGMs will be held in Australia so won’t be able to attend them in person.
The full detail for the general meeting are on the AXS site, I still can't find it on the Metal Tiger website. Just my opinion but most of the resolutions seem to be about the directors looking after themselves, and not the shareholders.
"All of the replacement options will be exercisable at 20 pence"
Yet the current options range from 27.5 pence to 60 pence.
Rick Rule bought in to MTR, at the equivalent of 30 pence 6 years ago, I wonder how he'll be voting. He still seems to own 15%, would the board try this move without his say so?
Fact
Immaturity confirmed... keep it up...
NOW I remember who you are ; you sold
Out in June 2022 didn’t you ? And yet here you are again.
Don’t own a share but got an opinion…
But you aren’t a BOD are you so don’t worry about my questioning.
LOL