Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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I think ETC Holdings realise they will not get 75% votes with a 13.5 offer. Then why did they come with the offer so low? I think it is all about psychology. The human brain is wired to compare. If you come up with a 13.5p, and then raise it to, say, 16p, then it would look as attractive as offering 25p from the start. I think those who are selling now are making a grave mistake. Of course, there are gambling opportunities in other stocks. But here we have 13.65 floor in two months, with a highly probable upside option, for free.
I will be voting my just-under 1.5m shares against the offer. I agree that it is derisory and a bit 'sharp' to make such a low-ball offer, taking advantage of Odey's forced sales to justify it. I thought Eric had more integrity than this but admit I have no idea what discussions have gone on over these past several months.
This is new territory for me and as such would dearly like a definitive idiot's guide on how to cast my NO vote please
It really is so so dodgy the way Eric took all those questions re 'what are you going to do about the share price?' in the Investor Meet's each quarter and each time he laughed them off saying there was nothing to worry about, the share price will respond in time to all the progress and if not there are other ways to get it moving or generate returns to shareholders (implying large special divis or buybacks).
This deal really needs to be sweetened to make it palatable - is it possible for Bidco to improve it by say 2p without any challenge from a counteroffer?
Good plan, think "we" all should be banging the drums, ....Maybe Russ will raise with Sky Business news next time he's in front of camera with Ian King ??
I also seem to recall Daily Mail tipped us some time back, again a Christmas expose story for them to run?
It's also interesting (AKA frustrating) until recently Liberum Capital used to have us down as a buy @32p odd. Since then the company has matured so why this low offer, unless of course it is an enticing "come and buy" me price to draw in other suitors for a bidding war!!
Either way I'm holding fast as together we are stronger.
Maybe Russ will raise with Sky Business news next time he's in front of camera with Ian King ??
A phone call? Can't we do it online? What's the deadline?
Peeps are normally apathetic when it comes to voting on company resolutions. Let's hope that is not the case here as it just needs a phone call to register a vote against this rip off proposal....
Bid explains why sp was being held in a range and the BB infested with gold prices going to flop etc. Nasty tactics but the norm in these scenarios. Vote it down and make then come up with a better offer or get stuffed. Lets hope another bidder kicks in. The BoD as per norm on aim appear to let chums in and Pis get stuffed. Vote no to this derisory offer and sp manipulation imo.
Surely shareholders are the business owners? Is this going to make us richer? I think not!
Don’t expect any authorities to do anything - only way forward is hitting 26% of votes cast
Follow up resolution to sack the board obviously (unless we get a better offer , say 17p in the interim )
By my crude calculations, if more than 50% of PIs vote against it they are toast
19% votes which they have is 75% of the vote only if a total of 25% of shareholders vote.
So let’s see if PIs always get screwed , or only if they don’t front up
Shanta have the services of Memery Capital as a lawyer, no doubt that means Nick Davis who was a Shanta director for a few years and knows Shanta inside out.
I quite liked him and I believe he is smart
They've forwarded my email to Russ Mould who covered Shanta earlier this year.
I can assure you it will not get investigated one single bit. everything being done is within the legal law and the authority has little capability to do anything anyway.
the law is written and designed to make business owners richer, it’s been written along time ago by rich business owners so nothing changing now. best hope, vote the deal down, that is possible to win but it % based on one’s that vote NOT actual who is on share register.
therefore business relies on apathy, people not bothering so even say the 20% voting for the deal can be over the 75% threshold on the day!!
G_G_G has 4,000,000 shares
Bad day but all about what happens next
Thought about selling but didn’t yet
It’s up to 2 or 3 big pi investors to decide to do something about it
As things stand i for one would get behind it with my c £40k of stock
For me it’s partly a matter of principle, but we need a couple of big holders here to get busy and provide a mechanism to allow smaller holdings to coalesce
Not impossible to do something about it - so let’s see what some bigger holders want to do, moaning after a while is pointless
They want this on the dead cheap with an FU to the shareholders- happy to give them a poke in the eye pending some leadership on this one
Makes absolute sense now with how the share price was almost controlled to hold down and low for this bid to come through!!
Feel burnt and crossed so badly!! Injustice!!
Everything is corrupt these days.
Looks like they are paying the bare minimum that is required under takeover rules.
Probably had to make it public before sp got away from them.
They'll be buying as much as they can under 13.5p, don't let them.
Toothless unfortunately..
"ETG is controlled by Ketan Patel, Birju Patel and Mahesh Patel, with Ketan Patel already a member of the Shanta board."
Judas ketan Patel ‼️
Really annoyed today with the sh**show today!! Just a thought if all of filled in or sent an email outlining the fishy prescribe for this takeover maybe it’ll get investigated or at least cause some pain for the fu**ers!!
https://www.fca.org.uk/markets/market-abuse/how-report-suspected-market-abuse-individual
Fair price to All shareholders I should say, as clearly those select ones on the inside are being given more than 13.5p/share.
All they have to do is offer a fair price to shareholders, simple as that. But today's offer was nothing less than an insult. Offer a fair price and then they can do with it wtf they want.
Noq = now!
Https://etcholdings.net/offer-for-shanta-gold/
Looks like it's working noq.
Confidentiality agreement was 29 June 23 - will read this in an hour or so when I get chance but must dash.
Thanks for that additional insight, Tony. Merry Christmas to you and to others here too!