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That really would be bonkers. You then pay commission and miss out on any chance of the supplementary!
Not sure if sp is right the bid and ask price is lower although some buys of 10p showing up
All I can think of is they going to give us 15 p per share that would be good
Who in their right mind is buying at 10.25p ?
Well will hit 10p before sell date if it goes over lol I will sell straight away
I wonder if Peoplepower tried phoning me too, as I had a very peculiar call the other evening, and it wasn't the "Free kitchen people". Could it be that the Class Action Group are trying to canvass all FTO share holders? They sound a dangerous and dedicated group, and all for such small returns. Should the authorities be notified about this, in these uncertain times? Can they sway the Chinese dragon off it's course. I doubt it!
No I am not a founder of the group and yes I am a new poster which I explained. And no I have never phoned you about PPP nor anything else. I have no idea who you are. Find out about the minority action group at fo@minorityaction.co.uk and decide for yourself.
Would you per chance be a founder of the action group ? You are an extremely new poster singing its praises ! Perhaps a little transparent...... did you ring me recently concerning PPP ? :-}
I have been a follower of share chats about Fortune Oil on this website since at least 2011. This is because I had and still have shares in Fortune Oil. This is my first post as I'm reluctant to register for websites. I have joined the Fortune Oil minority action group for many reasons not least because I think those wanting to buy Fortune Oil are doing so on the cheap and the CVR of 5p will never materialise, I am very impressed with what the Fortune Oil minority action group are doing and with what can be done to prevent those trying to buy Fortune Oil on the cheap from doing so despite the recent vote . I am also very impressed with the person who started the minority action group. The email address for the minority action group is fo@minorityaction.co.uk I would like to suggest to anyone reading this post to email this address so you can find out about the minority action group for yourself. Then you will be able to decide whether or not you wish to be part of this group.
I am pretty sure you would not be entitled. It should be in the paperwork which is in Italy at the moment (I am in UK!) or you could ring the registrar
Hi Guys could you tell me if I sell my shares now through the bank would I still be entitled to the extra 5p offer ??? if it materialised
You are talking complete nonsense with respect. The vote was finalised. There is no chance of an action. Take the money and find something else. Part of my holding dates back to 1997. Disappointing - get over it and hope the additional 5p is paid in due course.
Couldn't agree more Custody1. Move on, and quickly, as it is all becoming rather tedious, and just a little small time penny share pinching. There must be better things to do with ones valuable time, unless one bought at the top, which would have been foolish. Most will break even or make a profit, albeit it rather less than they thought. Tough!
I have read a lot of views on this share over the past 4 years. We all make investment decisions knowing the risks (or we should do!!). Anyone buying FTO knew that it was highly linked to China and when reviewing the company ownership it was clear that any holding would be a fraction of the majority owned and therefore you would have no say. I have read that many investors in FTO have made good returns and enjoyed dividend income. I would recommend that you accept the position and move on - your attempts at a class action are futile. The comment of "duped by the front cover" is laughable. If you want to invest in China then I suggest a proxy via HSBC or any Australian Industrial.
Thank you DoubleD7 - I was having a blonde moment
Predictive nonsence... Good luck :~)
As they say "ignorance" is no excuse ! Unfortunately all the information was explained by Fortune and if some didn't understand they perhaps shouldn't hold shares.
Innes, you need to email fo@minorityaction.co.uk, it's not a web page. I've just submitted my support for this, so thanks for posting that Neptune.............nothing ventured, nothing gained. Interestingly 13% of shareholders didn't vote which is a shame but not unusual. If we'd have been able to get them to vote no, we'd have secured enough votes to block outright
Hi I am watching and reading all about our shares and am very disappointed in what is happening especially as I bought in at 11.5p so quite a loss for me if they sell at 10p. Must admit I have done quite well in dividends but I was not going to sell just keep them ticking over. I have tried to log on to fo@minorityaction.co.uk but I am told there is no such address, can anyone offer advice. Thanks
It's not all over yet! We need your support whether you vote Yes, No or not at all! Copied from ADFN by 'alanadale' who has worked tirelessly in the background for us all. If you haven't already contacted him them please do so asap - you have nothing to lose and everything to gain. On the other hand if you think it was a wonderful offer then do nothing!! The meeting yesterday was a travesty. It lasted two hours and was extremely contentious. It took the biscuit that the chairman and ‘independent’ director Mr Qian wound up proceedings with a long impassioned peroration on the lengths he and his financial advisers had gone to secure the very best deal for PIs. However, we have ended up in an ideal situation with the Scheme passed and therefore 10p a share in our pocket but the 17% ‘no’ vote (I misstated 13% elsewhere) large enough to form a significant minority dissenting interest – sufficiently large to attract underwriting for a Class Action. This we are about to set in motion. But we need support. To join you do not necessarily need to have voted against the Scheme. Further, you will have nothing to lose as the legal costs will be underwritten. I urge you to contact fo@minorityaction.co.uk to find out more. We only need at this stage to have your name and shareholding. To add on this. We propose to petition the Court on March 4 to adjourn proceedings on the grounds many nominee shareholders were misinformed as to their right to vote on the scheme being told they could only vote on the cash/loan options for the CVR. Also Glyn points out many unsophisticated shareholders would have been duped by the front cover of the prospectus into believing they were getting 15p. Adjournment would most likely result in a raised offer of 12p, which would not prejudice our going for restitution on the CVR.
It's been up and down
No more uncertainty. Someone got a bargain...
Effective Date Completion of the Acquisition is conditional upon the satisfaction of the conditions to the Scheme. Following satisfaction of these conditions, the hearings of the petition to the Court to sanction the Scheme and to confirm the related capital reduction are expected to take place on 4 March 2015 and 6 March 2015, respectively. Subject to the Court sanctioning the Scheme and the satisfaction of certain other conditions, it is expected that the last day of dealings in, and for registration of transfers of, Fortune Oil Shares will be 3 March 2015 and that the Scheme will become effective on 9 March 2015. Settlement If the Scheme becomes effective on 9 March 2015, it will be binding on all Fortune Oil Shareholders, whether or not they attended or voted in favour of the Scheme and the Special Resolution at the Court Meetings and General Meeting. If the Scheme becomes effective on 9 March 2015, payment of the Cash Consideration to Fortune Oil Shareholders will be made by 23 March 2015.
Overwhelmingly passed.... This is now binding on all shareholders in FTO....good night..
But equally, you could say the stable sp is a sign the deal was voted through!! But more surprised that no one has posted who may have been at it...:-) I think they have until 17:30 to put out an rns....