The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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LMI holders got completely and utterly shafted. The takeover should have never happened. It just goes to show how inept and corrupt the market is. Liberum had a 15p target on LMI. Any guesses to what the value would be today? Liberum mining analysts seem to get it wrong don't they. They were bullish on SXX and had a 90p target on them. Shame on them...
Still all I have is a share certificate from X-O for LMI shares, nothing else, I was expecting a conversion to SBGL and receive a new certificate for those. Who knows....
Of LMI would probably north of 250 if was still independent. SGL got a cracking deal. This will probably turn out to be a transforming transaction for them... At least SGL are having a decent run.
I have exactly the same issue as stevieboy11, I held my LMI shares with X-O and they converted my holding to a LMI share certificate. I've still not received anything related to SBGL, are we meant to do something with this or continue waiting for more information on a conversion?
Hi, I have these in a SIPP with AJ Bell. They are now valued at 0. The message from AJ Bell is
"We have been chasing both the registrar and our counterparty for an update regarding the outturn of this Corporate Action. Unfortunately, we have not heard back as of yet. Nonetheless, we are continuously chasing so that we can provide shareholders with an update as quickly as possible."
I'm not very impressed bit I assume I'll get my money back at some stage in some form.
Morning all - reading this thread you lot seem to know more about whats going on than my advisor. I have a few LMI shares bought and held online through XO. They have vanished from my online account and I have received an LMI share certificate with my full holding on it. Im guessing from reading here that the broker cant or wont trade in Sibanye ongoing hence the reason for them "refunding" me - Should I have received a Sibanye share certificate and what do I do with the LMI one Ive got? Thanks
I wonder when the likes of Bristow will put a bid in for SGL. I think when the Pt price picks up SGL will look vulnerable to a takeover. Barrick could offer shares and could use the same reasons Froneman used for taking LMI over. The next eighteen months are going to be interesting here...
Thanks. They are now valued at 0p. I've contacted AJ Bell and they tell me this is because they are not receiving a price. I assume once they receive the Sibanye shares they will credit my account. Hopefully when I sell them it won't cost me a fortune like it did last time I had shares in a company taken over by a foreign company.
I have some LMI shares in a AJ Bell SIP. They now appear to be valued at 47p. Does this make sense?
A pity that LMI is longer no more. I just hope Froneman doesn't bugger things up at SGL. Once Pt goes over $1000 the SA plat operations should throw off a decent amount. Hope all you long timers are doing well.
A lot quieter without Rastuss and his pseudonyms...
Does anyone on here know if Barclays Stockbrokers trad in SA shares?
Sounds like general concensous is to hold on to you Lonmin shares!!?
Whatamess - That figure could come even sooner if Pt takes off...
The trading volume is way higher than before the shareholder meeting result. No doubt SGL will rise in the next year as people will see the bargain they got by buying LMI at the ridiculously low price. When the price of Pt takes off SGL being the leading producer will be making a substantial amount from the S.A PGM assets. They have to sort out the gold operations now. No doubt it will be interesting over the next eighteen months.
which broker are you with whatamess?
Zpzp if I had the choice I would have waited until last minute (next week) as suspect SBGL will rise as market realises benefits of takeover. The choice is yours as it could go other way in coming days! I am not going to look from now on, its like giving up your regular lottery numbers best not to know!
Hi Dave, I'm in the same boat as you as my broker (Share Centre) don't deal with SA stocks! But I have until tomorrow to sell them myself or they will sell them by next week.
Not sure whether to sell them now or wait till next week?
Broker selling my shares today unfortunately, as they do not trade in SA stocks! Think will rise in next week but heyho. Enjoyed the discussions on this BB and wish you well in future with SBGL.
i doubt he was working for anyone, he just seems to be a disgruntled individual with an axe to grind, with South Africa (political masters).
He was hired for sure imv
Still holding
Looking at the result it looks as though I was of a few shareholders to reject the offer...
Whatamess - Think about who will gain out of this transaction.
SGL should rally Whatamess as they have got a potentially very valuable asset for peanuts.
I have held LMI for some time and added on the dips so I can't see the point in selling now. Like I have said on numerous occasions I believe there will be a large surge in Pt so I will wait until that happens before I sell. It is a real shame that the likes of Standard Chartered waited so long to come out with their valuation. Their has been too much gloom surrounding LMI and that hasn't been helped by its Bod.
I wonder who Rastuss was working for. One thing is for sure we will never know. But I have a good idea...
I will hold for the moment and then review next year. How about yourself?