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Nyota Minerals Share Chat (NYO)



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beton2
Posts: 152
Opinion:No Opinion
Price:0.00
RE: NYO Shares
19 Apr '18
Ouch. Your shares are already Irae shares. You will retain these. You will also get prorata 1:1 ubecoin share after consolidation. You will then be able to sell or keep your ubecoin shares once they list. You will get some of your money back but 46p a share is a long road to come back from.
From here we have to find a way to recapitalize Irae, relist and get a project happening. It may have to be project, money then relist.
 
aurarius
Posts: 2
Opinion:No Opinion
Price:0.00
NYO Shares
18 Apr '18
Hi I am a UK holder of 1,400,000 NYO shares that cost me approx 30k from the old Tulu Kapi days. Can anyone tell me when these shares will change to IRAE shares. I hold my shares with ii investing (previously TD**********) and tried to participate in the additional shares purchase but I was told by ii that I was not able to participate as they were held in some crest account. After reading what Beton2 says possibly I could have been entitled. I did email Andrew requesting info at the time but I received no response. It would be nice to know if my holding will possibly have some value again.
beton2
Posts: 152
Opinion:No Opinion
Price:0.00
RE: Info info info!
8 Apr '18
Email sent
bratt90
Posts: 24
Opinion:No Opinion
Price:0.00
RE: Info info info!
6 Apr '18
hi beton2 can you please email me i have heaps of questions to ask you but rather do it by email cheers my email address is bratt90@gmail.com
beton2
Posts: 152
Opinion:No Opinion
Price:0.00
RE: Info info info!
5 Apr '18
From what I understand the nyota website could not be updated without directing it to the Ubecoin site. The Ubecoin site was not up and running until well past the cut off date of the rights issue. The free trade barter site was not rehashed as of last week. The cost of rehashing the nyota website is money we did not have (we barely made the payments to ubecoin).
The other share holders of ubecoin, look at their website and read directors and some of the advisors.

We paid $AUD360,000. We also had to be debt free at the time of RTO. And Andrew is working his butt off to get this over the line. He has had to get the Irae side done and now has to keep Ubecoin on track issuing them milestones to ensure that our investment is protected and the listing occurs as fast as possible. I hope everybody appreciates the work Andrew is doing. Your example is correct. A far cry from the 250GBP they were worth when they last traded.
Alex_ander
Posts: 20
Opinion:No Opinion
Price:0.00
RE: Info info info!
5 Apr '18
Dear beton2
Thank you for your very complete and detailed answer. To clarify, with official notification I meant some press release on the website, but if there were tecnical issues I understand that.

So, to sum up, we bought 20% of the company - who are the other shareholders of Ubecoin?
If Ubecoin will be listed - 76 M shares at 0,25 GBP mean we get a valuation for 19.000.000 british pounds, so in your example if I get 20.000 Ubecoin shares their value will be 5.000 british pounds? Did I get that right?
How much did we pay for the 20% ??

Sorry for the many questions but you are my/our only source for information.
beton2
Posts: 152
Opinion:No Opinion
Price:0.00
RE: Info info info!
5 Apr '18
Alex
Hello
I trust that you are no longer disappointed.
beton2
Posts: 152
Opinion:No Opinion
Price:0.00
RE: Info info info!
5 Apr '18
Alex
Hello
Firstly there are over 800 shareholders in Irae. Notifications are not cheap. Support for this rights issue was less than minimal. Sophisticated support was lacking as Ubecoin did not have their website functional and as such Irae could not upgrade our site to refer to a meaningful site. Hence initial money was and is scarce. There was only enough money to get the deal through. There is definitely zero money to be sending progress letters out. After the warrant issue closes the company will have an informed position.

The Ubecoin listing took me by surprise as the first I saw it was via forum and then in the warrant issue letter. The reasoning was that there was a massive legal cost and possible delays to Irae listing. There was also conjecture on who was responsible for the listing costs. If Irae had to continue as planned with listing, the whole plan may have come up short, very short. The Ubecoin listing is a far better solution. The listing will be at Ubecoins cost.

The approx numbers are as follows. The full figures are not available until after the warrants. Ring then and they should be available to shareholders. It should be circa 3.8B. Allow a 50:1 consolidation (initially only the Irae shares will provide liquidity. Not sure but we will go with that) thus 76M Irae shares representing 20% of Ubecoin.
Thus Ubecoin shareholders will have 304M shares and Irae 76M for a total of 380M shares. Now 25% must be on public hands and a IPO is required. This will mean that just over 25M shares will have to be issued in the IPO. These figures are openly available and can be worked out from the OIS and LSE rules. Upon listing Ubecoin will have roughly 405M shares on register. To list the value of Ubecoin must be at least GBP100M refer https://www.withersworldwide.com/en-gb/listing-on-the-main-market-of-the-london-stock-exchange-an-overview possibly double this. This gives you the listing price of 0.25GBP. Not a bad deal for $360K AUD and Andrew working his butt off.

Now assuming you have 1M Irae shares now. You will have 20000 Irae shares after consolidation. After the deal is ratified at the EGM, you will have 20000 Irae shares (unlisted) AND 20000 Ubecoin shares (unlisted). Upon listing of Ubecoin you can cash out. Existing Ubecoin shareholders or their board which are the majority will be escrowed. Ubecoin will be trying to get their valuation as high as possible so to make underwriting as easy as possible as they have to ensure that they are fully subscribed. Thus the value may be higher than the listing price.
Ubecoin needs a spread. IE more than 400 shareholders so the only way that this can give them that is for Irae to distribute the shares in Ubecoin to the Irae shareholders pro rata. And that has to be via a capital redistribution.

You will still have your Irae shares and Irae will be a debt free consolidated unlisted shell. which is a far better place than last September.
Alex_ander
Posts: 20
Opinion:No Opinion
Price:0.00
RE: Info info info!
4 Apr '18
Well, I am disappointed. Irae asked money under certain terms, without a single official statement - terms that now changed. Irae will not be listed, ok. The share consolidation is needed and is comprehensible - and included in the original plan. But now it is time for certainty - at least it is time for the board to emitt an official statement.

And i have a question - regarding Ubecoin listing: who will become Ubecoin shareholders? will we, as Irae shareholders get 100% of the shares? Or how much of the shares will IRAE/Nyota shareholders get?
Thank you for your time and answers.
beton2
Posts: 152
Opinion:No Opinion
Price:0.00
RE: Info info info!
4 Apr '18
warrants will be finalised on 7 April. There has be a consolidation 3B+ shares is a deal killer. Most likely 1:50 as there needs to be liquidity. We will then get 20% of Ubecoin which will be distributed to existing shareholders. Ubecoin will then be listed. It has to be. This will be done as soon as possible. This year. It will take time, the earliest will be Sept if all goes well. Irae will remain as a unlisted company.

The numbers are all there. Whatever number of shares Irae has after the warrants dictate the overall number of shares Ubecoin has to have at listing. There has to be a listing. LSE is the logical choice. Ubecoin directors shares will be escrowed so the liquidity has to come from the public spread. There has to be an IPO to list. The minimum is 25% in public hands. The listed company must be a certain realistic value to list. This has to be reflected in the IPO strike rate. It will not be 1.25p (0.00025 X 50). It will need to be north of this. The IPO will need to be fully subscribed hence underwritten. It is Ubecoin listing now. hence the shareholding has to be returned to the shareholders to get the spread. This has to be returned as a capital distribution. hence we become shareholders of Ubecoin while still remaining Irae shareholders. Irae will be debt free. Irae can then get another project. This deal will be a great outcome for all shareholders.
beton2
Posts: 152
Opinion:No Opinion
Price:0.00
RE: Info info info!
4 Apr '18
UK investors were self regulated. All you had to do was say that you were sophisticated.
Sahi
Posts: 13
Opinion:No Opinion
Price:0.00
Warrants Short notice
3 Apr '18
I have received email from corporate actions team to confirm by 12 pm today to convert my Warrants at the subscription price. Hurry up..
yoshie
Posts: 2,111
Opinion:No Opinion
Price:0.00
RE: Info info info!
3 Apr '18
ch123. are you an Aussie or UK investor? If UK please advise how you manage to put in amount for this and back the gang as UK retail investors were excluded during recent fund raising?
ch123
Posts: 71
Opinion:No Opinion
Price:0.00
Info info info!
2 Apr '18
I've put a good amount into this now, with the option to purchase into IRAE ahead of the game, so I'm backing the gang, into the millions of shares now.

Here's hoping for a good result on Ubecoin, can anyone give some insight into when we should expect some news, when the shares will be back up for trading, etc etc

Does anyone expect a big consolidation, etc?

(Newbie to trading - but been with Nyota since early 2017)

Cheers!
beton2
Posts: 152
Opinion:No Opinion
Price:0.00
RE: Next payment
20 Mar '18
The payment has gone through. Those that participated in the rights issue will have received or will receive a warrant exercise letter which will also highlight that we will have 20% in UBE Limited which will be listed in lieu of Irae relisting saving a small fortune in costs. All shareholders will be given shares pro rata post consolidation in UBE as capital distribution.
Alex_ander
Posts: 20
Opinion:No Opinion
Price:0.00
RE: Next payment
14 Mar '18
Dear beton2, when should we expect news from IRAE/Nyota? And how is the relisting process going forward?
beton2
Posts: 152
Opinion:Strong Buy
Price:0.00
Next payment
6 Mar '18
Irae now has the money to pay the final tranche. Now Ubecoin has to perform.
MattyBoy1965
Posts: 688
Opinion:No Opinion
Price:0.00
Ubecoin Website
3 Mar '18
Having just looked through the entire Ubecoin website, the amount of typos and grammatical errors doesn't exactly exude professionalism. (Didn't anyone think to proof read and review the content prior to its publication?)

https://www.ubecoin.com
baagatwick
Posts: 302
Opinion:No Opinion
Price:0.00
RE: Shares in account?
27 Feb '18
I had the same for some time and as I said it changed all over a sudden to show it as NYO again. Fingers crossed things will come good soon.
MattyBoy1965
Posts: 688
Opinion:No Opinion
Price:0.00
RE: Shares in account?
27 Feb '18
I have a Vantage Stocks & Shares ISA Account with Hargreaves Lansdowne and my NYO holding has been showing as IRAE Investments Ltd for some time now, with a holding of 631,034 shares.

N/a showing for price and value though, and a cost of �429.44.

Be nice if this finally comes good in the long term (as it might help to soften the blow on my many other disastrous investments so far to date (AFPO and GGP anyone?!)
bratt90
Posts: 24
Opinion:No Opinion
Price:0.00
RE: Communication is Poor
24 Feb '18
i got a reply from sergy a few days ago and he said We will revert with detailed update shortly
Alex_ander
Posts: 20
Opinion:No Opinion
Price:0.00
RE: Shares in account?
23 Feb '18
On my account the name was never changed to IRAE (which is right because IRAE is not yet listed).
Only the rights issue appeared, and now I have the shares under the name �Nyota Minerals � delisted�. In my opinion this will only change once IRAE will be listed. I guess we have to be patient, at least we see that it is moving in a direction (which is still better than nothing!)
bennvb
Posts: 76
Opinion:No Opinion
Price:0.00
Communication is Poor
23 Feb '18
I have emailed the company a couple times and had no reply through there website or the personal emails.

Would be nice to get some information on whats happening, progress and some time frames.

The obviously working hard to get this sorted and just hope it comes off for the ones that have shares left
baagatwick
Posts: 302
Opinion:No Opinion
Price:0.00
Shares in account?
22 Feb '18
A few weeks ago I had NYO shares with a de-listed status and then the equivalent in IRAE shares listed also. It seems now that I just have NYO shares again, with the previous holding yet no de-listed note. This is on both Barclays and ii. Has anyone experienced the same? Is this normal? and has anyone heard any updates?
Alex_ander
Posts: 20
Opinion:No Opinion
Price:0.00
Update
20 Feb '18
The website of Nyota Minerals was updated to a temporary holding page of Irae Investments, confirming so far all the information given by beton2.
Also the rights issue worked for me, so far so good.
Fingers crossed for what comes next for us!




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