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If you like your largest major to get a good mention in the Panama Papers then OBT may be the stock for you.
This was supposed to be positive info?
http://www.obtala.com/investors-significant-shareholders.html
Worth looking at IMO. Still believe this will come good, but can appreciate the concerns that have been raised.
I recommend do a google search for the following...
Something more than the fertilizer smells at Obtala
...and look at the article at sharemuppets.
Excellent posts charlies.
I must say I smelled a rat when I read about Pelham's dealing with the prefs. If he really is able to raise cash by diluting OBT holders and then convert his prefs back into OBT later with protection from dilution (as you say) then that is truly outrageous.
Welcome to AIM - (mostly) run by the wealthy few for the wealthy few.
When OBT was trading in the teens I warned folks that OBT was heading to single digits. Recently I was wondering if there was value at this level. My feeling now is absolutely not. Totally uninvestable.
Yes, he said he didn`t want to go out with a wimper (sell too cheap) and wanted to turn OBT into the Glencore of forestry.
But then Company Directors and Chairman can say whatever shareholders want to hear I suppose.
Lets see what happens if/when they secure new funding, which he also said they were working hard to get asap.
In the last podcast Miles said he has a reputation he is proud of.
Really cannot see diluting existing shareholders into oblivion would help bwtfdik.
I’m getting confused with something else. Good point.
Phil, I’m not sure what your 330m refers to. According to the latest TR1 on 13 Sept he owns 26.6m OBT ords which is 8.13% of the current issued shares. On the podcast he said he has owned 5% since 2012 so he hasn’t significantly increased his stake in the ords. Granted if my speculation is close to the mark then he is not going to see much of a return on those but the Argento Prefs, if converted, represent about 30% of the enlarged share book and therefore a far greater return for him. Anyway it’s a best guess so I would be happy to hear a reasoned argument against it.
He still owns 330m in obt, so dont get your point.
Just speculation and could easily be wrong. We’ve been seeing the Chair buying up massive amounts of Argento Prefs. Over 10m worth in the last couple of months and yet the sp is down. How can that be? On the face of it it’s a massive vote of confidence in the company. All the analysis on this board, including mine, has focused on the convertibility into OBT ords at the current level which equates to 15p a share and have assumed that that must be where his plans are going to take us. There’s also the 5% div and the takeover ratchet but neither of those would justify such a huge investment. So why has he been buying the Argento Prefs not the OBT ords. He neatly avoided giving a direct answer to that in the podcast instead claiming that he found himself with some liquidity and there were willing sellers. Firstly who the hell finds themselves with a bit of liquidity to the tune of 10s of millions and would then choose to sink it into a 2 bit aim company. Not only that but why buy paper that is not easily tradable and converts at nearly double the current sp. In the podcast he also talked about wanting to raise the value of the company to new highs. He also acknowledged a few times that finance of some form is needed in order to achieve that. A characteristic of the Argento Prefs that we haven’t taken much notice of is the dilution protection. Any new issue of OBT ords and the convertion rate is adjusted to maintain the value. As a Pref share holder he is only focused on the MCap of OBT, not the sp. so what is the easiest way for them to raise the finance they need? The banks have turned them down so it’s issuing more shares. And if he wants to grow the company massively it’s a lot of new shares. That means that his interests as an Argento Pref holder are directly opposed to those of current OBT ord shareholders. He can grow the company through a series of fundraisers which will bring theMCap up to where the Argento Prefs convert at a big profit but the existing ordinary shareholder has been diluted out of existence. I haven’t yet been able to come up with a more plausible explanation hence why I have sold 90% of my holding. Just my thoughts and could easily be wrong. The terms of
What's your thoughts
Have significantly derisked here today. Think I’ve sussed what Pelham is up to and doesn’t look good for PIs. Have kept a handful in case I’m wrong.
You can get 6.5p for your shares today Phiggy. How does that sound to you?
(hope you didn't buy too many)
And ethical, let’s see what the SP does from here ;-)
Ethical, your the equivalent of a swampy campaigning against drilling for oil, Forrest’s need to be managed in a sustainable way I agree and we the general public need timber! So don’t come with that save the world bullshit... we’ll build concrete houses or steel houses instead .....oh wait ...mud huts maybe?
ok, i'll bite - i can certainly argue against this, i think you are talking total rubbish. Why do you think this is "massively undervalued"? And you are wrong, i suspect you are just stating that you have bought at a premium and hoping it will go up....they would be bankrupt if they were forced to replace what they are chopping down - instead they are just deforesting africa, in order to keep paying the directors - and you lot are supporting them (whilst you are stakes are slowly being eroded)
S7eve - Sorry I do not have an answer for that one. It could help volume but depends what they do with their shares.
Still very understated the value and amount of shares he acquired IMO. For an AIM company, and at this MCAP, A huge investment.
It cannot be argued that this is massively undervalued, I think miles’s Plans will be transformational & he knows it! Mopping up quietly away ... I think 12-18 short term here GLA
could the price be boosted by the fact that most people that traded through the old Beaufort platform will have their shares returned on the 24th ?
That must be a rollover or another Miles purchase with no spread agreed through the MM's after all he has the contacts
1.6 sorry
The chunky 16mil is a buy, someone very confident ;-)
Unless I am mistaken here are his trades since the half year report. He also made net purchases earlier in the year but they were more convoluted and less impressive.
Still personally feel that a takeover will happen here, and perhaps rather than Miles instigating it, he is preparing for it and sees it happening over the medium term. Perhaps a Chinese consortium? Speculation but regardless he has made a serious commitment to Obtala, that has to focus his mind to make it a success one would think.
Obtala
3,020,000 0.0516 £155,832.00
5,000,000 0.05 £250,000.00
1,600,000 0.065 £104,000.00
8,000,000 0.065 £520,000.00
£1,029,832.00
Argento -Obtala Subsidiary
286 350 $100,100.00
6,733 350 $2,356,550.00
6,273 350 $2,195,550.00
7,519 350 $2,631,650.00
9,353 350 $3,273,550.00
8,298 350 $2,904,300.00
$13,461,700.00
If not in a closed period I wonder if Miles will mop up the sells.