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Well in that case Ying Tong we can expect adminstration in March, and your lucky you dont have the shares. Remind me again why your posting your important analysis on here and on ADVFN 24/7? .
I am sure there is a good reason but I am not sure what it could possiby be?
If you want to say "I told you so", this seems a very round the houses way to say it
Kmack,
I think you might have meant the 40:1 consolidation ?
If so that remains. It was an independant thing, not conditional on anything else. You haven't "lost" most of your investment as a result. You still own, collectively, the whole company. It is just represented by a lot less shares.
As an unlisted company though it will be difficult to transact. However if you can find a counter party you can agree a price and transact (obviously in practice that is going to be difficult). You would also have to notify you nominees and the registrar.
The BoD already have approval to issue new capital at any price. That permission was given by the resolutions at the last GM. It was in no way tied to this specific deal. As an unlisted company there is very little restrictions on the BoD in this area anyway. They are only bound by the Articles.
The BoD have little obligation to notify you of anything.
The BoD will, in my view, struggle tocomplete anything.
They have almost no money (the prospectus said it would likely run out in March). Making the filings, doing the accounts and so on will be tricky. Either the accountants will need to be paid in shares (fat chance) or the BoD will need to somehow lend actual real cash.
Gary is not an officer of the Co. He is just a large shareholder (he was only ever CEO designate). Certainly he may have influence. But he doesn't have authority.
I am confident that the board has our best interests at heart, especially as gary has a large investment here. No need to be embarrassed, I am quite happy with the elimination/scrapping of the guardian deal if it is replaced with something better. If the guardian deal had prcoceeded you, and others like you, would have spent the next 5 years rubbishing the company and saying it couldnt pay anyway. So who cares what you think?
Taxi - you really have no shame with your constant flip-flopping on NUOG and all it's various misadventures over the years - I actually feel embarrassed on your behalf!
The deal is off so the dilution isnt happening. Most likely there will dilution of some kind but it wont necessarily be as bad as it was going to be at Guardian . We may thank our lucky stars that our board extricated us from a potential quagmire
Well that was exactly as predicted then. But not the one about it being a “doozy”
So what happens to the share Dilution is that reversed?
The two million gbp in shares were at the list price, the two million gbp in shares would have been worth a lot more once it was quoted, had it ever been quoted. As it is they get nothing.
Taxi, yes it is academic now.
But I think you missed the point.
They were able to get (upto) a total consideration of 3.35m. Mainly in shares - which would have been a max of 30% of the overall equity.
But currently they own 100%.
If what they currently own, plus 300k capital injection (that's what was left after debt and costs) plus a listing was genuinely going to be valued at 20m why would they give away so much.
Its academic now but they were getting 2 million pounds worth of shares, that according to their claims, were supposed to become valuable. They were not taking a few 100 s grand as your asserting.
Sounds a lot more promising the pirate barriers. Who knows rodders, it may be off to the Carlton in Canne next summer after all !
So a totally different alternative than that detailed in the prospectus.
Oh great!
LOL.
Well there you go...
https://www.londonstockexchange.com/news-article/market-news/update-on-proposed-transaction/15382758
A serious question then taxi.
At your touted 5-10p it's worth 20-40m. Give or take.
Why - when they own 100% of that - would the Stevens sell it for a few 100k in cash and an absolute max of 30% of the overall equity going forward ?
That is what you maintain they are doing.
As to the rule change, I suspect it only becomes relevant if there is some sort of fundamental change to the offering. There is presumably some sort of deadline though.
You’re delusional if you think this is coming back.
Rotten to the core this lot. Minty the sequel.
It wont be for in progress listings and yes you have underestimated the value of Guardian fairly consistently, putting the worst possible construction on any outcome or delay. My view is the delay is merely due to legal issues being resolved and the flotation, albiet delayed, is on track.
https://www.fca.org.uk/news/press-releases/fca-confirms-new-listing-rules-boost-growth-and-innovation
Increasing the minimum market capitalisation (MMC) threshold for both the premium and standard listing segments for shares in ordinary commercial companies from £700,000 to £30 million. Raising the MMC will give investors greater trust and clarity about the types of company with shares admitted to different markets.
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I have no idea if it affects anything tgat was "in progress" at the time of the change.
But either I have radically underestimated the initial value or they may have a problem.
Dont think we have either now lol
This time next year roders at least we have Ireland and Canada
Maybe time for you to move on then, you say your not a shareholder, so what exactly is your point in posting your pearls of wisdom on here? Are you trying to rub our losses in perhaps? Educate us as to the error of our ways?
It seems David Lau has resigned from both companies, and there is a report of disagreement between Smith and the Stevens, so it looks things might be falling apart, and folk finding better things to do than this.
He is no longer Co Sec of GUARDIAN GLOBAL SECURITY SERVICES LTD a subsiduary.
But it's odd.
Oh well , the company secretary has left the building so some cost savings there. Goodluck to all historic shareholders. That's all we have left. Maybe move away from barriers alone?