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Baobab Resources Share Chat (BAO)



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skiwizz
Posts: 920
Opinion:No Opinion
Price:5.48
RE: Mr A DI Nonno
7 Mar '15
Quick calculation reveals he will make about 15k on that purchase when he sells. Might offset some of the losses of his other 3 million!
 
Majorpain
Posts: 436
Opinion:No Opinion
Price:5.48
RE: Runner
7 Mar '15
I agree skiwizz, my understanding is that Redbird cannot withdraw the offer until the current shareholder have elected to hold or sell their shares. It is 3 weeks from the announcement that the form comes out, so we will find out more then. Now that redbird have bought more shares, they are bound by the takeover code to honor this.

"The Offer Document and the Form of Acceptance accompanying the Offer Document will be published no later than 28 days from the date of this announcement"

Very disappointed that it has come to this, however i am in damage limitation mode and dont fancy holding shares in a de listed company that is about to do a major fund raising. No matter how good the project was i guess that i will not be around to realise the benefits after all!
newbutold
Posts: 487
Opinion:No Opinion
Price:5.48
6p
7 Mar '15
A little funding makes all the difference - check out BZM for proof

This is the bottom of the cycle, what Redbird and the board are doing is despicable but they are unable to rid themselves completely of the current shareholders. The 6p is guaranteed hence recent 2.8m purchase. Easy money paid for by the early sellers.
gavin737
Posts: 45
Opinion:No Opinion
Price:5.48
RE: Mr A DI Nonno
7 Mar '15
Mr Di Nonno appears to have purchased 2.8 million shares, taking his holding to over 1%. What does he know that we don't ?
skiwizz
Posts: 920
Opinion:No Opinion
Price:5.48
Runner
7 Mar '15
I'm still here mate, still got my shares. I'm hanging on for 6p offer unless they put the bid up to very close to that pre offer. I don't think there is a risk and by selling now you are out forever, I want to see what develops.
Runner
Posts: 2,384
Opinion:No Opinion
Price:5.48
Sad really
7 Mar '15
Well I guess this board is becoming a bit of a ghost town now.
Runner
Posts: 2,384
Opinion:No Opinion
Price:5.48
RE: Chao
6 Mar '15
Is there really a danger of not even getting the 6p offer?
Does anyone know of a precedent?
Thanks.
skiwizz
Posts: 920
Opinion:No Opinion
Price:5.48
Mr A DI Nonno
6 Mar '15
Any ideas?
Peakview
Posts: 2,216
Opinion:No Opinion
Price:5.48
conkerer
6 Mar '15
You just said it all conker - some peace of mind after the serious shafting we long-termers have taken from this two-faced BOD. Some are looking around to blame posters on here - but we all knew the fundamentals and the trends that took us so low, but no idea that those in charge of the company would stoop even lower.
conkerer
Posts: 253
Opinion:No Opinion
Price:5.45
Chao
6 Mar '15
I have been here for 4 years through highs and lows and sold out last week at a huge LOSS. The difference for me hanging on was £5k. Having been loyal and supportive of the BOD for the past 4 years I made the decision that you can not believe a word of what is said now. There is a danger you wont get your 6p and you could loose everything. For me its peace of mind that my money is in my bank and not in the hands of muggers ad thats worth £5k to me.
Peakview
Posts: 2,216
Opinion:No Opinion
Price:5.45
Yuppy
6 Mar '15
I am afraid that you misread that post, like ski has just explained. It was the DIFFERENCE of £4.5k between selling on the market and waiting for a possible 6p share option offer! I wish you were right - total hit was a wrecking ball £78k at my near 14p average. Don't keep reminding me!
chao
Posts: 81
Opinion:No Opinion
Price:5.45
Holding On
6 Mar '15
The difference to me between selling now and at 6p is also 1000, so i'm holding for the 6p. I am certain it will be paid.

Maybe, the offer will rise as time goes on as there are a few holders who seem determined to hold until after the split. Redbird aren't really going to want PI's hanging around, so they may encourage people to sell.

The 6p is definite anyway.
skiwizz
Posts: 920
Opinion:No Opinion
Price:5.55
RE: Peakview
6 Mar '15
Maybe he means 4.5k difference between selling now or waiting for the offer. I did think the same thing. Wish my hit was only 4.5k. For a 4.5k hit now he would need about a million shares.
YuppyLove26
Posts: 68
Opinion:No Opinion
Price:5.55
Peakview
6 Mar '15
I am very surprised you have managed to escape with a loss of only 4.5k
For months and months (if not years) you have constantly talked about topping up etc. I am sure your average must have been over 11, but lets for ease say it was 11p. For you to have only lost 4.5k would mean that you only had a holding of around 9k?
If that is the case surely you can't have topped up as much as you said you were or as often?
Also, if you did only have circa 9k in this share, how on earth could you be bothered spending so much time posting and ramping?
The problem with AIM shares isnt just the companies, its these BB! They are both full of sh*t.
Peakview
Posts: 2,216
Opinion:No Opinion
Price:5.55
Steeltrader 77
5 Mar '15
I'm back - but only to say that I was and still am totally in sympathy with your take on the necessary action. Technically they have to honour the 6p offer, but there is many a slip twixt cup and lip - especially when these charlatans are holding the cup. I have taken a £4.5k hit by selling on the market, but still happy to do so under the circumstances. Supposing there are other creditors here demanding their money and deciding to foreclose on failure to pay? Too many imponderables for me now that trust is totally gone out the window.
Runner
Posts: 2,384
Opinion:No Opinion
Price:5.55
RE: Broker
5 Mar '15
According to the broker they have received the offer of 6p and they told me that no date was given for the closing of the offer, so I better be quick and sign a piece of paper (broker's paper) authorizing them to sell my shares (because I have not given them power of attorney). My shares are held in a nominee account so I don't actually own them officially, the company does (Skandia in this case). So I have to get Skandia to accept the offer of the 6p and pass the proceeds to my cash account.
Nothing is simple is it?
skiwizz
Posts: 920
Opinion:No Opinion
Price:5.53
Steeltrader
5 Mar '15
fair enough if you need the funds elsewhere. Although I dont trust this lot, there is no way they can not honour the offer. It's a difference of £1000 to me so I'm hanging on.
Steeltrader77
Posts: 777
Opinion:No Opinion
Price:5.53
RE: Broker
5 Mar '15
i offloaded mine as the difference of 0.05p didn't make a material difference and prefer to have the funds now and utilize them elsewhere instead of holding on waiting for the bit extra - as i didn't read a time limit on when they had to pay this.

As per yesterday i sold out my balance holding as i didn't like the way Appendix 1 to the RNS read (and i have lost complete and utter trust in the BOD)
skiwizz
Posts: 920
Opinion:No Opinion
Price:5.53
Broker
5 Mar '15
Runner, did they contact you? I've heard nothing, no even this lot have got to honour the offer so I waiting for 6p. Stupid panic selling us falling right into their hands.
Runner
Posts: 2,384
Opinion:No Opinion
Price:5.55
RE: Holding Shares
5 Mar '15
When I said I'm out, I meant that I have instructed my broker to accept the 6p offer, for clarification.
Runner
Posts: 2,384
Opinion:No Opinion
Price:5.55
RE: Holding Shares
5 Mar '15
Surely surely they can't not honour the 6p? Is that would you are suggesting might happen?
sprinkler
Posts: 63
Opinion:No Opinion
Price:5.55
RE: Holding Shares
5 Mar '15
Thanks for your feedback Mike, Steeltrader. It's the same 'lack of trust' story that's coming from everywhere and whilst I agree we've been royally shafted I still hold the view that they have to stick to the offer that's been announced.

I'm going to hold out for the 6p and think I might leave 20,000 in the unlisted company to see what happens - that's around the monetary equivavlent of selling all now for 0.005p less. If I come across you on other boards I'll let you know!

Steeltrader, thanks again for the wealth of information over the time here.
Troajan
Posts: 52,453
Opinion:No Opinion
Price:5.55
bao
4 Mar '15
all.
sorry guys,seems we have all had a bad experience on the aimers,this is not just bao that as experienced this,all other commodity players are in the same boat,especially heavy metals explo/miners,like this one,the problem started in the 90's early 2000's,the boom years on the markets caused big capex spending on the miners and oilies,the bubble burst about 4/5 years ago,so we have been stuck in the bear market since then,ok,you can blame the bod,but in hindsight,ime sure they didn't realise this cycle would drag on for so long,no one did,unfortunately we are still stuck in it,but when we exit from it,is anyones guess?gla.
Moleinahole
Posts: 4,612
Opinion:No Opinion
Price:5.55
RE: I,m out too
4 Mar '15
So sorry for you my friend and at 33p I also weighed up the exit and like you trusted the board would reward in the long run. This one just did not work out. I do think the organised shorting of this share did irreparable damage and bares some responsibility for the current situation. As Mr Spock would say LLAP.
sharesgonesouth
Posts: 254
Opinion:Strong Sell
Price:5.55
I,m out too
4 Mar '15
Dont trust them at all now.. I have sold everything and now feel better as it will be off of my mind before too long .

This was part of my pension and a poor one even then ... Only Government state one for me now ..pretty much !
My wife begged me to sell as we watched them at 33p plus but i knowingly told her that this company was going places...How stupid do i feel now ?
I am finished with purchasing any more AIM stocks ...Just try to get money back on what i already have and then never again .

GLA




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