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k.j.k, I've contacted my broker, they don't offer a Proxy service as standard, but I've instructed them to vote AGAINST via CRND's registrars, even though I'm being charged for the priviledge....... intended disapplication of pre-emption rights 🖕
Winston270 let us how you get on with your broker. I also deal youinvest and they send very little out it has to be online. I have maid it very clear how I feel about this company that we have HAD here. I hope all holder have other holdings in better companys that they pull back there looses from here. For me this now deed and I will finally move on .
k.j.k, I've emailed my broker to make sure the Proxy Form is on the way & I get my vote, not that it will change the outcome! I use X-O sharedealing (Jarvis Asset management) @ �5.95 per trade
1. To receive and consider the Company's annual accounts for the financial year ended 31 December 2016, together with the directors' and auditors' reports on the annual accounts 2. To appoint Moore Stephens LLP as auditors to the Company to hold office from the conclusion of the meeting until the conclusion of the next meeting at which accounts are laid before the Company and to authorise the directors to fix their remuneration 3. To elect Mr Simon Charles as a director of the Company 4. To elect Mr John Treacy as a director of the Company 5. To elect Mr James Normand as a director of the Company 6. To approve the Directors Remuneration Report for the financial year ended 31 December 2016 EXTRAORDINARY RESOLUTION 7. To disapply pre-emption rights and empower the directors to allot equity securities wholly for cash Was the last annual report that was riddled with errors unaudited? Many people were misled by this fiction and took part in the subsequent placing as the company seemed to have turned that corner. What happens if we vote against part 7? It would mean delisting, but would the company be declared bankrupt or continue trading? Would the assets be put in a firesale or would the BOD be free to do whatever they liked? So little information coming from the BOD. I get that PI's have effectively lost everything but a little clarity would not have taken much effort. I will probably be voting against.
I voted against. As per reasons stated by Wiston. I will give them the middle finger salute.
You need to contact your broker as some do it under corporate action on line, I deal with iweb and I would recommend them, there dealing costs are £5 for every trade.
I haven't had my voting form yet, but my vote will be against, just to give our BOD my two finger salute! Even though I very much doubt it won't get approved as it's in the bag/just a formality....... Us PI's have been well & truly bent end & shafted! Once the BOD issue the 1,071,428,566 @ 0.07p to raise the nominal �750k to pay the miners Xmas bonus, my �25k worth of shares (594,000) will be worth just �415.80 in a cash shell with no cash, I very much doubt that the tax losses are worth that much to a reverse takeover target. Amazing how Central Rand Gold (Netherlands Antilles) N.V.) was worth $150 million a few years ago with 4 x MOU's and water level much higher / Puno case unresolved, now it's worth just $16.3 Million to our former Chinese friends and has dibs of the Puno High Court Award.
And y?
How will u vote here?
At a guess I'd say to clear existing contracts and for the extra December payment. Possibly also to retain legal advisors for PUNO. It will probably cost a bit in fees to set up the cash shell so maybe this also. Strange how they didn't actually specify what the bottom line for shareholders is. Maybe they are keeping it a surprise until after the vote. So what are the odds of a few $20m+ MOU's coming in to pick up a cheap world class gold mine with some damp problems?
Had invested in this to trade and came a partial cropper with that LOL CRND had been around for some time and was perhaps arguably one of the worst-run companies I'd seen on AIM, continually promising but never delivering. Its a shining example of what's wrong with AIM, the levels of corruption involved, and the lack of regulatory oversight needed to prevent this level of P 1 5 5-take
Probably to pay their salaries until its given away.
I also like to know why Central Rand Gold SA is stumping up �750k through the placing to provide working capital for the operations that are being given away??
I realize we have been well and truly shafted here. I received my voting form today and voted against more in protest at this cute deal. I will never put another penny into any company in south Africa. Sorry this has turned out this way BUT not surprised.
Feel sorry for you guys holding. Been in shares before where this has happened - assets get palmed off to cover debt, PIs get left with an option to massively dilute or if they oppose it at the GM, the company goes bump and everything has gone. The phrase "zero accountability" comes to mind.
Dumb PI's still cannot see that the company steal was long in the making. Indigenous persons Puno were the only ones that tried to raise alarms bells, Go chekc the historical records alas we were sleeping on the job. Maybe we deserve whats happened to us by this crooked bod and the previous ones So long mickey mice
So, Basically our Chinese friends get �15.443 Million of Assets/infrastructure for writing off/absorbing a total of �16.3 Million of debt, which is effectively costing them only �857.000. Additionally, the High Court Puno award also awards Central Rand Gold (Netherlands Antilles) N.V. a proportion of that award 'IF' forthcoming. Whilst us PI's get diluted by 83% & are left with zip - gee thanks! And there was me thinking there 'would be cute deals'...................... PMSL - AIM can go screw! 'The Court provided an Order that the funding call directed by the first and second applicant (Central Rand Gold SA and Central Rand Gold (Netherlands Antilles) N.V.) to the respondent (Puno) on or about 17 September 2008, for payment by the respondent for ZAR72,326,573.47 was declared valid and enforceable; the respondent was ordered to pay the costs of the application; the respondent was ordered to pay the costs of the application; and both cost orders include the costs of senior and junior counsel. Puno retains interest in Central Rand Gold SA but owes Central Rand Gold SA and Central Rand Gold (Netherlands Antilles) N.V. ZAR72,326,573 (approximately US$5,537,033 being the original loan amount plus compound interest)'
Just a bit disappointed, but with hindsight realise it was heading this way. We may see a few pence of our investment back, might just reinvest it as I have written it off anyway. So much potential, our fiends from the Far East have picked this up for nothing. Tempted to have a day out in Guernsey to cause some trouble and make a few people squirm. Good luck all, didn�t work out how I�d hoped.
Almost 4:1 dilutions so yes massive kick in the balls however the pragmatist in me says that whilst it's the haircut of all haircuts it is still a chance to get some money back - vs the alternative which was administration and the only people seeing any money being liquidator's fees and maybe some premium debt holders. I think this possibly best could hope for under the circumstances assuming it can get out of suspension and float above the pitiful 0.07p SP with debt restructured
I read that about being a former director at Nyota. I bought £200 as a punt, it might come good but very much doubt it. Good luck all.
So what's the point in putting this to a vote if they have already done it? Looks like the sale price is going to be the company liabilities - doesn't look like PI's will get anything. The shell company - is this going to be in place to collect on the PUNO dispute? Nothing in that for shareholders either after dilution.
Well not good for holders.. but coming back as a clean shell..PH trying to do what they failed to do at NYO?
Not more can be said than that.
Should have just gone bust.. it's a POS.. I see the vicar from NYO is now on the board. It's a bad omen..Avoid like the plague!!!!
"The Placing Price of 0.07p per share represents a discount of approximately 83.3 per cent. to the closing mid-market price of 0.42p per ordinary share on 11 May 2017" 1 billion shares issued. Not good!