Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Well, have two lots in different ISA's. I asked broker what their post de-listing arrangements are. If one intends to be a pain to AVN, I do, then since the share can not be kept in ISA (s), if the vote goes in favour (it will), they will pass in certificated form to you.
There are various requirements that AVN will need to uphold (well until they get to 90% or something like that). They will however has to maintain a shareholder register.
Since there is little value left in my case, perhaps circa £165 or so at close today, I intend to stay.
Who knows what will happen with this shower, I bet they have a plan though and it involves more value to the few shareholders left. We shall see.
Does anybody know this. I intent to keep my shares, lot most of my money anyway, do you get proof of the amount of shares you own? or how does it work?
KPatel - Avanti has a website which will keep you informed. Companies House has a facility for following a company and getting free information. Also, the company has duties and obligations to a shareholder. You will not be cast adrift without a paddle.
You have to decide whether there are any prospects for recovery or whether to dump and run. It is all down to faith and whether you have any left after the steep declines in share price in spite of the gigantic recent progress.
KPatel - there will be no share price, and hence you will not be kept infomed of what your holding is worth. You will also receive no imformation about the Company unless you dig for it. Why do you think so many PIs are selling out?!
Well, as a cost saving move this is a simple lie. More money will be spent in taking it private than savings from AIM because lawyers will be employed to avoid individual negligence claims. There is some value but will its sale value be more than the remaining debt? If down the road a vulture fund buys some of the debt they might hit resistance from the 3/5 largest funds if they're still invested. They have some converted debt as equity and would (I imagine) want something for it even if only scrap value. It is probably a forlorn hope but will depend on their decisions. If they see some value in the equity or move between the two for accountancy tax benefits/reclaims then it might be worth them keeping the equity as a tool in extracting any future value when disposing either in a managed sale or a forced sale.
Very interesting to see how this whole situation has played out.
If PI hold there shares how are they kept informed of the share price and what their holdings are worth? Because if I’m a miraculous turnaround the company picks up and the share price moves north then PIs will surely have opportunity to sell?
Does not seem worth selling the holdings at such a low price and rather wait and see what happens when the company is made private in the years to come.
Legally PIs cannot be just wiped out surely?