Another way of dealing with this is to just sell enough to take up the total of the open offer .... that way you get the equivalent of what your current holding would be in terms of shares but have a lump left that effectively hasn't cost anything additionally .... I see that as a potentially better option than what I've done to be honest but I really haven't decided whether to take up the offer or not so sold the lot... I'm on a frequent dealer option so it's less than a tenner dealing cost if I take it up....
Oh, I didn't know you could still be entitled to do that, but I suppose it matters crucially only sbout what you held on Offer deadline day. Fair enough.
To be honest though, with my average, Id have to literally buy millions more, so it isn't worth it.
If you've sold the entire amount of your normal holding, good on you, at least it's currently not trading at the 0.006p equivalent of the proposed placing price, but you know the risk of buying back in matey. Lol.
Hi Eric - I'd talk to your broker bud.... the qualification date for the open offer (21st Mar) has been & gone... my allocation in the open offer are sitting in my account waiting for me to say yes or no..... already sold up my entire holding & can buy it back at 2/3rds of what I sold for - question is will I .....still got until the 4th Apr to decide.
Cheers matey. I've just today voted against the BOD's proposals. There is no evidence of a plan, only one of gaining £3 million and chasing rainbows. It may have been different had they told us which sector they were thinking of exploring. Can you imagine though, a reverse takeover of a non-producing company? How likely would the BOD then be to turn that into a producing entity?
And what kind of company already in production could we get for that low amount of money?
I'm in agreement with you. We'll never see a return on this investment and almost all long-termers won't break even. Why throw even more money at ORE now, if we're giving it to those, or acquaintances of those, who got us in this mess in the first place?
I'm keeping hold of what I've got, but I'd rather this stop in its tracks than people get fleeced for another year. I'm only sorry that the FCA has not stepped in to examine this operation further, in spite of many shareholder concerns being directed its way.
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