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Just wanting to check I've followed this correctly:
Innomed has issued shares to individuals and institutions but this is on the agreement that for every share issued, the 'investor' will purchase 5 more at 29 cents on listing
CIC have been issued some of these and therefore CIC are commited to purchase 5 more per original share received
CIC have then decided / agreed to pass on shares in Innomed to 181 of it's shareholders. From the 181, 159 have agreed to purchase the further 5 per 1 shares whereas 22 are not as these are being purchased by CIC
The number of Innomed shares issued to CIC and the number CIC has issued to each of it's 181 shareholders is unknown however, let's say the number of shares received by a CIC shareholder was 50000 then, if they were one of the 159, they will have to purchase 250000 more at 29 cents each, which would be CAD72500 or > £42000
I'm assuming the 181 will know who they are and that, as it is CIC who are required to make the additional 5 per 1 purchase, the 159 who are purchasing themselves will have already enter into some form of legal agreement with CIC?
Ok…I’ve just spoken to Stuart, who very kindly returned my call pretty much straight away and have now sent my email details to him. I look forward to hearing some positive news soon. I would advise anyone who is worried about their shareholding to do the same .
I think it's fair to say none of us on this board are "trolls"... some are just beyond frustrated with this company. A shareholder is well within their rights to question the board and their approach, without being written off as "trolls or troublemakers". SB has a fiduciary duty to the shareholders - whether they are big or small.
I certainly knew when I investd in CICC that it was high risk - but that doesn't give the company the right to be opaque and to treat small private investors with contempt or derision. We deserve to know what has happened to our investment. We invested, and invested long in the CICC portfolio, based on a series of claims and statements from SB. Apart from the temporary listing of CIC Gold, then nothing has delivered a return and we have been locked in for years. Even with the temporary listing of the CIC Gold shell company, it still failed to deliver on any of its prospectus. The only way CIC Gold could be considered a success is to whoever trousered all of the money that shareholders put into it.
They say the clearest indicator of the future is to look at the past.. in that context, it would be reasonable to think that Innomedtech will (at best) list as a shell company for a matter of months, before delisting.
FYI I am a shareholder.
CIC Capital Fund Ltd
CIC Capital Ltd
CIC Gold Group Ltd
Let's just my initial value has a number in front that some might consider unlucky
Not heard anything and neither has HL the platform I use.
I am a strictly amateur investor, I put money in CICC because the business model was unlike anything else I was aware, the apparent personal investment of SB and I wanted risk.
All I want is a RNS saying what as shareholder I think I am entitled to know i.e the investment has gone - fair enough I invested knowing the risk - or is there any chance that a listing will take place.
I have experience of both significant gains and losses and can view both as part what investment is what I find hard to live is the total lack of information and dare I say transparency. For that reason alone there is huge appeal in employing someone who knows the questions to ask
I’ve tried and no reply . But he has my number now .
That's just my point.. if they are the same class as shares, you can't pay out some and not others.
Same shares.........just the first out of the hat I presume. Hopefully, they are all still alive.
Some of us are going to need the new catheters before long.
My dad had a long-term catheter and suffered terribly from bladder infections.
Do those 22 that have been contacted hold a different class of share to the rest of us? Otherwise I am fairly sure it would not be legal to selectively pay dividends
"CIC has issued same dividend to another 159 CIC Fund shareholders whereby they have agreed to buy the 5 share on the market for every dividend share."
Who are the 159 shareholders and do any of them post here?
159 + 22 = 181 so they are still short of the 200 needed for the float.
By the way, I am supposed to receive 50K free shares and I hope they won't ask me to buy 5 shares at 29 cents for each free share
Hopefully, Stuart will weave his magic so that all CIC shareholders will be happy after a successful float of Innomed.
It’s ok I’ve found it, I will try later , thanks
I would but I’ve lost his number . Can anyone help…Joe?
annon
Newbie what was your previous avatar.
when a newbie comes on here and says this and that and take this action it reminds me of the good old days on Advfn where me and macnai posted.
We will have to wait and see what happens as a few more years wont make a difference.
I would like to know what has happened to my orginal shares
annon
Newbie what was your previous avatar.
when a newbie comes on here and says this and that and take this action it reminds me of the good old days on Advfn where me and macnai posted.
We will have to wait and see what happens as a few more years wont make a difference.
I would like to know what has happened to my orginal shares
As one of the larger shareholders of Cicc I am surprise a company who we invested in fills its fit to dish out shares to only certain shareholders when the company has a shareholder registra
From my understanding each shareholder who has been contacted will receive one free share as a dividend.The question will be how much will you have to pay for the other 5.
It would be interesting to know your thoughts on those who will receive this dividend and how many shares you will receive.
am i reading this correctly?? Cic are now selectively choosing which share holders to issue dividends to?
I have.
I haven’t received anything
Innomed Tech also had to pay US$120,000 of the CIC Fund transaction as there was a lot of individual agreement involved and setting up their share register etc..
Please feel free to share this insight to CIC Funds client share establishment if you so desire.
Kind Regards
Stuart J. Bromley
Thanks for your email,
We only selected a 22 CIC share holders to receive dividend shares in Innomed tech. CIC will buy on the market 5 shares for every share issued as a dividend to these 22 shareholder, you are one. This is detailed in the YE 2020 Audited Financial Statements Item 8.
"Shares Issued for No Consideration
During the year ended December 31, 2020, the Company issued 6,927,826 common shares to certain individual and institutional investors for no consideration, but these investors are required to purchase 5 common shares on the market for each common share issued to them when the Company is listed on a designated exchange. The shares issued were recorded at fair value, with corresponding increase in deficit. The fair value of the shares was based on most recent arm’s length financing transactions."
Please note from Innomed Tech prospectus Prior Sales section you will note that subscribers have paid US 29 cents per share.
CIC has issued same dividend to another 159 CIC Fund shareholders whereby they have agreed to buy the 5 share on the market for every dividend share.
You getting some deep insight as to the value of having my mobile number public as we have built since 2002 a known professional investor base. This has come from really hard work where I take calls all hours and answer emails as soon as received (in most cases).
CIC Capital Ltd always operates as a regulated Canadian entity and as such CIC management complies with National Policy 51-201 Disclosure Standards which requires only one person to communicate with shareholders (Disclosure Officer). So at present, separate from any other function I am the nominated Disclosure Officer.
In June 2015 when CIC Gold listed as a shell, it traded at 5 to 7 pence, 32 million shares per month (1/3 of its issued capital). Placing CIC Gold as the highest traded by volume to issued capital company on the London Stock Exchange bar non. This was a result from shares issued as a dividend with buying on the market requirement as described above. By market cap CIC Gold was worth GBP 5.57 million. The reason why we pulled it from main market I will detail in future.
This dividend model is highly valued by clients for the following reasons:
1 Provides a required shareholder base by exchanges. For TSX it is 200 shareholders with a minimum of 500 share each.
2 We deliver pension funds and professional investors with minimal retail investors. Retail investors if aligned to CIC with a deep understanding of how the Company operates and how the board makes decisions is important for smaller volume sales on the market for the professional investors to pick up. Professional investors generally are in the Long and in the case of medical device companies will wait until the patents and governmental approvals have been achieved.
3 The on buying in the market requirement side steps the high risk of relying on broker and market makers to affect high distribution.
I still think we pursue the solicitor option. It would be extremely beneficial for us to understand the options we have available from an unbiased source. The fact he mentioned we should not go that route tells us we are on the right path.
SB could not care less about the investors that have enabled his companies to function. He pushes investors around when they do something to question him. Just remember HE DOES NOT HAVE THE ABILITY TO FUNCTION WITHOUT HIS INVESTOR POOL! Without the shareholder base he does not meet the minimum criteria the exchanges require for listings.
In his recent post he tries to come across as transparent and having an open door policy…
"I am not opposed but support any shareholder to ask questions by simply emailing or calling me. It's interesting these persons never do. Why? Because they are not shareholders."
But in reality when you approach SB he provides the responses like the one below…..
"You remain share holder and respect that we are only going to issue dividends to those that do not denigrate our board and other shareholder of unfounded statements"
MrA, Daierasa, others - thoughts on the solicitor route?
noticed some green boxes earlier but have now disappeared.Has someone reported the trolls?
Thank you for your advice., which I will ignore.
the prospectus of Innomed Tech Ltd and they say they hope to list by July this year.
If that was just a copy and paste how is it he replied to me so fast he could not possibly have consulted a lawyer.Or are you implying he has a drawer full of all sorts of replies he can send as a whim.I have filtered both you and Mraverage this boards trolls.
Great post from Havegun . The whinges should just pack up and go home. Hire a solicitor and lose money. CIC is working and making money.