Our live Investing Matters Podcast Special which took place at the Master Investor Show discussing 'How undervalued is the UK stock market?', has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Slim, chinese is the most likely scenario for me. However, shg had 2 chinese offers and no deal.
Rns always open with "delighted to announce " no matter how great the news.
So basically open offer raised nearly £2 m less than the stated ceiling. Have any non taken up been offered elsewhere as we were informed would happen ? If so can see why it wasnt underwritten.
Looking to add some now to off on any news rns. Not interested in holding in a shell and paying continued wages .
Keep up the feedback slim.
You don’t know that MC has not bought in the open offer. You will have to wait for the open offer shares to be issued on 23/12 to find that out. Jim Mellon has converted his shares and had them issued which is why he has reported an increased holding. Your deramping is pathetic.
JAllis, out of interest, how do you know MC didn't take any new shares in the placing?
net effect is the same, unless you can demonstrate where exactly the rules disallow insider from partaking in an open offer whilst a sale process is ongoing there's nothing to suggest MC would not be able to buy in like any other shareholder.
Mellon did not buy he loaned the company £1m and converted the loan into stock, completely different to buying in the Open Offer and allowed under the rules.
no as its already been announced there would be a raise. if it was considered insider Mellon wouldn't be able to buy either
If a deal is close would it not be insider trading?..
interesting to ntoe MC didn't buy any shares in the raise.
If there's offers for 100M, I. e. High chance of 4 bagging, why is he not buying?
Good man, you've obviously fallen for the snake oil salesman's charm but I might follow you in, haha
Will be buying to average down
slim, are you still expecting to be cucumbered or are you tempted to buy more shares following Onion's waffling
Eyes on the Chinese
Agreed. When selling shares at 25% of the underlying value (and so close to resolution ) is taking place you know that games are afoot. I've got some cash put aside to pick up shares should the price drop below 15p.
I highly doubt that any insiders have been playing games - it's just not worth their while. Would a prospective purchaser of the assets trying shorting as a method of influencing discussions? I don't think it's too farfetched given how small a quantity is needed to shift the price in any direction. Maybe PIs playing with CFDs? Who knows?
Not too sure about the capital dividend aspect. The distribution could get a bit complicated depending on how they do it. Dissolving the company might be an option in redeeming capital as might purchasing own shares. We are getting into less well trodden areas here most of which require some sort of HMRC permission in one form or another.
https://www.gov.uk/hmrc-internal-manuals/company-taxation-manual/ctm17580
It is interesting that Jim Mellon is now commenting in the RNS's instead of Mark Child, I have a feeling that Mellon was fed up funding Child's expenditure excesses without seeing any reward in shareholder value, for example they spent £250,000 on water facilities for locals - the have been many other expenses that have assisted the locals, over the years they could have amounted to £1m or even £2m, we will never know exactly.
It is very interesting that the other Condor bulletin board has been infested by bashers, there is hardly a single post that could be deemed positive, the site allows multi alias accounts to be opened, it is a known fact that some potential acquirers try to destroy value by any means possible before making an offer.
Mellon & Co have tried to suggest shareholders should ignore the current market price of the shares and focus on the NPV and other financials - in other words take no notice of the negativity and focus on the end game value.
Buy low sell high!
I am sure slim will update us in due course once he has recovered from his session! Patience, patience.
Investors have now parted with £3.3m so i hope some of these NDAs convert into offers. Since JM threw his toys out the pram we were heading onwards from 30p but now worth half of that. If we can get an RNS stating firm interest i hope we can recover some of the damage JM pushed upon the company just so he could lower his average. Any specifics from the egm would useful. We need to know when the sale process ends as it cant be indefinite.
Wish Slim was as vocal now as he is when things are on the drop.
Thanks ‘slowlyslowly’ that makes sense but whether HMRC work that way is up for debate! I sold my non ISA shares and re bought them in my ISA, as I hadn’t utilised any of this year’s allowance.
Slims been on the lash celebrating and asleep in his veg patch now..
Fair play slim for turning up. Good to hear you got something out of it. Any other information you can share?
Ta
Seven now
Disclaimer: I'm not an accountant, even less a tax accountant, and hopefully one will come along soon to answer your question. However: I believe they can declare a dividend as "return of capital". That means they're using dividends as the financial instrument to give you the funds, but that for accounting purposes it's the company returning capital to its shareholders. I think that could change the tax treatment of such a dividend.
No cucumbering it ended up a virtual meeting with us and Kate g and mc on the tv