The latest London South East Webinar takes place on July 6. Come and hear CEO’s from Orosur Mining, Caledonia Mining, Glantus Holdings and Tekcapital speak. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East and have access to Premium Chat. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Just re-read you post LordWales.
You will have problems selling these shares to anyone, if you no longer have the share certificates. I hope you sent them registered and signed for delivery. There are different insurance levels depending on which postage method you selected. If you simply popped them in an envelope with a first class stamp, then the Post Office will take no responsibility at all.
Hopefully they are just delayed in the Christmas rush.
I have never been in this position, but as far as I know, you will need the company to buy them back from you, as there is no market trading HGM shares anymore. I would not expect you will be offered the 300p buy out price though.
Google "how do you sell privately listed shares" as a start. Good luck.
Got application form and sent off to Computershare with share certificate after being told would be accepted ‘a few days late. I rang them on 07/12/2020 and was told they could not locate but I would be contacted when found. I have received email today they cannot find application.
Does anyone know what I can do now?
do you have the contact of that company please
I hope that your application made it in time, as these shares are not tradeable on the market anymore. This board has been dead for a while as most investors had either sold out or accepted the offer, which is why I guess your post went unanswered for over a week. If you find yourself in a similar position in the future, full details of a company's offerings can usually be found on the company's website.
Managed to speak to company handling sale and they sent me application form. Did have to wait for share certificate from my broker but sent them off hopefully in time to get £3.00.
"Highland Gold announced on 21 October 2020 that the board of Highland Gold had informed the London Stock Exchange that it wished to cancel the admission to trading of Highland Gold Shares on AIM (the "Cancellation"). The Cancellation is to take effect at 7.00 a.m. on 19 November 2020."
You have almost no time left to act, to accept the 300p per share offer. Your best bet is to sell them via your broker before the market closes at 4:30pm today. You will probably get a lower price than that, but you will not be able to sell them on the LSE tomorrow.
I recently bought hgm shares not knowing about takeover. I see I have got till 19/11/20 to get take over offer but I can’t find any info on how to do this. Can anyone help please?
The cancellation of the admission of Highland Gold Shares to trading on AIM will significantly reduce the liquidity and marketability of any Highland Gold Shares in respect of which the Offer has not been accepted. Any remaining Highland Gold Shareholders will become minority shareholders in a majority controlled company and will likely therefore be unable to sell their Highland Gold Shares. There can be no certainty that such minority Highland Gold Shareholders would again be offered an opportunity to sell their Highland Gold Shares on terms which are equivalent to or no less advantageous than those under the Offer.
Settlement of cash consideration
As detailed in the Offer Document, settlement of cash consideration to which any Shareholder is entitled under the Offer will be effected:
· in the case of acceptances received, valid and complete to date, promptly following this announcement; and
· in the case of acceptances received, valid and complete in all respects after this date but whilst the Offer remains open for acceptance, promptly following receipt of such acceptance.
Appears very quiet here. I have accepted the offer too, and now have no idea when the payment will be in my account. Anyone able to offer some news on this please?
I have accepted their offer. Anybody got a notion about payment date?
Hi Petra I too would welcome any thoughts on what to do. There have been a lot of RNSs concerning what institutional holders are up to. It seems that they may be selling and buying CFDs as a means of benefitting from any further upside.
Deadline is looming, but I'm still undecided and HGM is my biggest holding.
You can sell now for around 299p or wait for the formal offer to buy your shares for 300p, which should be made in the next 2 or 3 weeks.
Alternatively you could choose to keep your shares, and reject the 300p per share offer. However, Fortiana have a controlling interest and look to be after complete control and ownership, and could take the company private later.
See warning below from the original RNS.
"The Condition (which relates to the threshold of acceptances needed for the Offer to become unconditional) is set at not less than 50 per cent.. If the FAS Pre-Condition is satisfied, Fortiana will acquire interests over 40 per cent. of the Highland Gold Shares pursuant to the Acquisition, requiring only a relatively small number of Independent Highland Gold Shareholders to accept the Offer to satisfy the Condition. Fortiana would then have control over the Highland Gold Group and the trading in Highland Gold Shares may become increasingly illiquid. If Fortiana acquires interests in excess of 75 per cent. of the share capital of Highland Gold, Fortiana may seek to terminate the admission of the Highland Gold Shares to trading on AIM, thereby further reducing liquidity."
Any knowledgeable people got any advice on the best way forward, sell or hold. What is likely to happen if you hold onto your shares?
price now just over 3 pounds
From yesterdays RNS:
"Fortiana is pleased to announce that, today, FAS has granted regulatory clearance in connection with the Offer. Accordingly, the pre-condition to the Offer has now been satisfied and the offer document containing the terms of the Offer will be posted to Highland Gold Shareholders as soon as practicable and in any event within 28 days of the date of this announcement."
It's now a done deal, which probably explains why the sp has risen in the last couple of days.
highland gold brokers
01534814 202 ... then 01534 847 000
refered to 0871 664 0300
then refered to different compant 01534 814 814 refered to 01534 507 000 and 01534 507 152
these last 3 numbers work, they inform that..
hgm are not declaring a divi this sept oct as last year
the 300p offer will be completed in last quarter 2020
If you hold for this 2 months or so you gain 2 percent.
At present selftrade cant sell any amount on line, but no problem to sell up to 60k by tel.
Shame another offer didnt come in, 300p is lowball imo and u will find it hard to replicate this rising divi
imo poly pur ggp aau fres woth a look
selfrade my brokers said there was nothing on record re taking back divi when 300 paid
sekftrade said 300 due to be paid sometime in last quarter 2020
if held till then present price 294, offer 300, thats 2 percent guaranteed for holding for a couple of months, four times a savings account for a whole year.
Anyone got any better dates of info, and any hard facts that they can take back a divi paid by the company
Is there any chance of the divi being kept by shareholders not taken off distribution at end? Would we be infomed.
Is this finalized now at £3, or is there a chance of another offer or rejection
If its finished at £3 in the future may as well pay £10 to sell, forgo profit of 294 to 300 (0.5%) and put into a producing gold minor with a good chance of more than this.
They can cover with their own long position if they wish, but it is just that a bet.
What spread betting Co in its right mind allows a long to be increased at 294 when the t/o is agreed a £3? Madness!
This is only my take / understanding on things. The 50% + shareholder approval for the offer of 300p looks like it has been reached so Fortiana will make the offer for all the shares ( subject to Russian regulatory approval ) They need 75% of shareholders to agree to sell so they can forcibly buy the remaining 25%. If they don't get the 75% and someone wants to throw a spanner in the works I guess then thats when things could get really interesting.
I would have very much liked to have held HGM for the long term, and my understanding of the £3 cash offer is that it is just that, an offer, which I could choose not to accept and therefore continue to hold HGM. In making that decision my attention turns to whom I would be getting into bed with in the form of the new controlling shareholder.
RNS 7345U: "Fortiana is a Cyprus registered company majority controlled by Vladislav Sviblov and is part of his wider business interests in the metals and mining industry. Vladislav Sviblov is Chief Executive Officer and majority shareholder of Ozernaya Mining Company which is developing a prominent zinc-lead deposit in the Buryatia region of eastern Siberia in Russia."
Does anyone have any insight into Vladislav Sviblov, good or bad? I'm struggling to find much of a career history for him and have no idea how he came to be so wealthy. The fact that he makes his acquisition as the beneficial owner of a Cypriot vehicle incorporated in 2019 doesn't help to shed any light. Ozernaya Mining Company seems pretty small.
Thank you Auson, Do you except this take over to be successful? I m personally not happy with the offer.