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What is the point of trying to invest in AIM companies.Once again sharks are making fools of pi’s,I’ll vote against this move,but we must now expect to be shafted.Lets hear what you have to say Eric Zurrin or are you part of it?
MD
Yes, PIs selling out, the volume is still less than 1% today, I’ve just bought more, at the price I got, it’s a guaranteed 6% return in 6 weeks (worst case scenario) and much better if another offer comes in over the top. No brainer.
Yep we are being sold down the river. 20p would be fairer? I will vote against and interested see how many other smaller shareholders do likewise.
“ My money is going to PAF from here…”
I already hold Paf, expect a lot of folk will pick up on that one.
Holding here though. You should either get the 13.5p or something better comes along. No hurry to do anything yet.
Usual caveats
Trek
Small traders don’t want money tied up for months and instead utilising it elsewhere?
I guess sellers may be feeling that upside limited to 4% here over the next couple of months unless there is a counter offer (which the patels could probably block) so that money can earn more elsewhere, which it could
....keeps the SP low....I bought at 38p many years ago.....if interested parties want to buy SHG at say 27p?????
......then why not buy SHG first at 13.5p and sell it on at 27p? 100% profit???
Sale fully supported by all that stand to gain........Merely my thoughts on possibilities.....Pretty disappointed........but NOT surprised at all......that says it all!
This does not make sense.
The takeover price doesn't attribute any value to the West Kenya project which has huge potential especially with a high gold price
Sellers, means there are many buyers as well....
Signicantly, massive sales are now occurring. I just wonder how Hargreaves, II, AJBell etc. (major shareholders) will react. In the vote - and everything else....
As I consider any offer below 20p to be poor. I personally will only make enough for a good night out and will vote against.
RNS extract: 'this is an all-cash offer at a premium to the current price when the gold price is close to an all-time high. As such it provides an exit opportunity in cash for all shareholders taking into account the current gold price as well as the operational and other risks inherent in the business'
What complete b*ll*cks!!!!!
My 1.05 million shares are with IG and is not included here and I will be voting against too.
Sold off cheap reason why share price kept low enable bid come through
The gold price is likely to go much higher following the recent FED pivot which confirmed interest rates have peaked and there should be several cuts during next year. Historically gold does very well in a falling rates environment. This is why we have all been holding and now they are trying to snatch it away from us for a paltry 13.5p 🤬
Considering the Christmas period, if a Canadian / Chinese Company wants to come in, it will have to come in quick.
There appears more to this than what meets the eye...something extremely fishy going on!!
1 and 3 are nominee accounts who can individually vote. Id imagine most will vote against. A 75% yes vote seems highly unlikely.
I could of taken an offer at 17-18p area but this is absurd. We are do very important RNS data and it may be suppressed by this low ball bid. In essence the company is now up for sale. Like many others I will wait and see if we get a higher offer. Anyone buying this for £200M is getting a bargain.
Shareholding is quite fragmented so they won’t get much traction with their negotiations. I am pretty sure more than 25% of shareholders are against this. It’s such a derisory offer.
Fingers crossed this may be just be the start of an auction
Just caught up with the RNS. Absolute disgrace. I only have a couple of million shares but will be voting AGAINST!!!!
Just wondering where they got the 18% stake from as not listed under shareholders.
They might have 5%+ from Shanta management team but where did the other 13% come from?? I wonder whether they picked all the stock up off ODEY when thye were forced seller for 9p?
If that's the case, then makes me think this is defo a 'draw out' bid to see what the chinese come in with.
13.5p is ridiculously low and should be at least 20p
The below table summarises the Company's major shareholders as at 30 September 2023:
No. % of Company held
1. Hargreaves Lansdown (Retail) 10.5%
2. Sustainable Capital 8.3%
3. Interactive Investor (Retail) 7.9%
4. Lombard Odier Investment 7.1%
5. Directors (Insiders) 5.9%
6. River and Mercantile Asset Management 4.9%
7. Canaccord Genuity Wealth Management 4.8%
8. SIX SIS (Custodian) 4.7%
9. AJ Bell (Retail) 3.4%
Total 57.6%
It will be voted out and in next AGM some of these board members may also voted out.
Good luck.