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I have been shafted every time a share was delisted.I have bought shares since 1972 and own more than 1% of MYSY.I will vote against delisting.
Vote against delisting.We only need more than 25% to stop them delisting.
I think we should sue - in a class action by shareholders - GJB and NBurton for gross negligence as a minimum, fraud possibly, as 80-90% of MSYS cash was funnelled into DVRG in full knowledge that these funds were being lost forever; the Board had a duty of care and even the most basic risk and credit controls were being ignored.
Any lawyers here?
@sol001 not to down your post here and bring negative vibes but I think its important to add a realistic few layering's also here to the points you made.
- Yes we should be given the option to sell back to the company but if and when we are it will be at massive dilution and without an audit as they were BSing all along and cant afford one so the price will be at a 99.x% haircut. For example if you had 10,000 sterling in Microsaic a year ago then you would be lucky getting 100 sterling or 90 sterling back. That is how these people operate.
- An IPO in the future, if that did happen, wow, just wow that would be mad!! but if it did, rejoining would be insane, we should be warning every single person to avoid this like the plague but of course unsuspecting people will get caught like night follows day.
- GB is not on the board but calling the shots just like he did over at DVRG in order for it to go private. He is not selling anything back to Microssaic for 99.x% less than the free price he got them for. he did not buy his shares, he BS'd his way into his shares, so he is playing the long conman game.
- you also quote the RNS itself 'Company is also exploring alternative 'matched bargain facilities' quoting these conmen RNS's is the ultimate mistake as they are total BS and fabricated every single time just like all the RNS's over at Deepverge that staff have come in and stated are not true. So for the sake of anyone new looking at this lets not quote BS anymore. They are going private and in a way that maximizes the director and ex directors holding and to dilute us down to a feather, a bone would be too much.
Thanks Sol I appreciate it,
In that case I will check for daily news updates here at msys to see if this share buyback happens or not!
Tariq. We should be given an option to sell back to the company when they delist at an amount agreed in a vote or we can deal otc. Or even wait to see if they partner up or rejoin Aim via an ipo in the future. I read online that when a company delist and goes private they will have a vote on a share buyback price and you then have to sell back.. since GB is no longer on the BOD it will involve him as well and he will have to sell back his shares. (I don't know how microsaic can afford to buyback shares at the moment and the majority shareholders can decline the price if its too low
Please correct me if I'm wrong as new to this and read online
'Company is also exploring alternative 'matched bargain facilities' to enable investors to trade in its shares following the intended Delisting,
Are my shares in msys gone forever ?? :((
It's very difficult for some of us who already have shares trapped in dvrg or msys. I wish I'd known before I bought them. Just wish everyone who didn't know this luck and even if the company is bad, at least we need lady luck to produce something from it
I was foolishly not keeping a close eye on developments if I am honest. All ill be advising from here on out is that everyone stays far away from Gerard Brandon and Nigel Burton, far far away from these conmen. They are likely planning fund raising and those people need to be warned. Of course everything needs to be sent to the regulators also as the same conduct is being carried out on deepverge as we type also.
Conmen indeed, taking it private and the mirror image will happen over in deepverge plc also as they were both run the same way by the same people to benefit only themselves. The moment that dodgy made up contract microsaic had with deepverge vanished it was all over. Karma I hope pays a visit.
Where were you Yankee a couple of years ago. Could of advised us all
As I was saying this morning, going private all along and total conmen. Stay far away.
Fully agree. With any luck - " what goes around will come around" for certain individuals. Let us all hope so!
Looks like I'll be sitting with worthless shares, unless they come back like ryanair or partner up. But I think I'm best marking it down as a lost money and try not to drown myself with thinking about it day after day. I hope GB and Nigel get some sort of karma because they won't lose any sleep over it
Amazing! Within a year, Gerry ruined 2 PLCs leading to huge value destruction and countless jobs and livelihoods lost; is he adding these to hic CV?
Private Co means zero control for minority shareholders (us), probably allowing the board to create new entities to cherrypick profitable ventures, whilst running MSYS to the ground.
We will know within the next 12 months whether MSYS will survive (or disappear).
You’ll still own them sol, and can trade them, hopefully through a ‘matching’ service, if someone is mug enough to buy them.
Can’t see the BoD doing anything different as a Limited company that they should have done as a plc, they’re just saving money….(for their own wages)!!
Congratulations MSYS!!
Let’s hope BoD salaries are slashed to reflect the savage decline leading to failure of OUR company that certain bent members of the board have orchestrated
You, one in particular, deserve all the hideous bad luck that shareholders are wishing on you right now
…I’m not bitter (NOT)🤬
What happens to our shares if the company delist (which it will very likely) and still runs privately? I saw Ryanair delisted a couple of years ago, but I don't know what happened after that. Are the shares still held or do they drop from the site they were bought on?
Well, cash is finite so it will run out soon, one way or the other. Whatever happens (I am not a fortuneteller), the clock is ticking. Taking it private might also be a plausible scenario.
@LTBeliever I am not sure if you are having a laugh quoting an RNS from Gerard Brandon and Nigel Burton or if you have not clicked that each and every RNS they spit out is complete utter BS, unless backed by an actual accountant/auditor doing real grown up accounts and audits like my corner shop here in Leeds does? The reason I state this, is because well firstly and obviously it would be awful to see new "parties" get duped like we all did by these con men, that's an obvious one we all agree with it I am sure. Secondly and even more obviously a week ago the Finance Director who wouldnt even bother to be named due to the shame of even being associated with this joke was terminated as per here: https://find-and-update.company-information.service.gov.uk/company/03568010/filing-history and we are supposed to believe an RNS full of BS from 25th of September. You are having a laugh right? I am checking because the Deepverge forum was full of rampers who were colluding with the directors to ramp and pump the share price around the time of fund raises and I have no doubt the same tactics are present here with gangsters from Turner Pope etc. They are going private.
B4 dilution (good scenario!) or the end (bankruptcy); as per 25 Sept RNS:
"....continues to meet its obligations as they fall due, providing a funding runway through to mid-November.
... discussions with several parties about strengthening the balance sheet and aims to conclude a fundraising within that period. The Company would then seek reinstatement of its shares to trading on AIM... subject also to having published the FY22 report and accounts... its interim results to 30 September 2023 and augmented the leadership team. ... £1.5-2.0m would provide sufficient funds."
Looking very much like Deepverge scenario.....and still no audit.
https://find-and-update.company-information.service.gov.uk/company/03568010/filing-history
Here we are in November of 2023 and not even an acknowledgement that the company is alive! No Audit, not even an acknowledgement that the auditing company was ever doing an audit in the first place. No product updates, essentially no updates in itself. Nothing, zero, a sweet f&*k you, just like Deepverge PLC from the exact same crooks running it. Amazing what AIM and the regulator lets people get away with. I thought the minimum requirement after 5 months waiting was an actual audit from 'real' auditors/accountants. What are the chances when I come back in December that exactly nothing will be done here by way of communicating the exact mess that Microsaic is in?
They have not even bothered to do an audit when required by AIM in June why would they bother their asses to update us in November on anything? Maybe around Guy Fawkes night they will set off one last bomb. Nov 5th keep an eye out for dramatic effect.
Surely there will be an update in November??