Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video 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. 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.
What is going on here indeed.
We're in a very strange situation with the suitor. I got a letter saying they had extended the period by which they would purchase shares for 15.5 p until August. Why would they do that if they got as far as 90 odd % but then didn't want to by the company? All this makes me suspicious that something very positive is going to happen.
One thing I didn't think was that anything would happen soon. The company has said that trials are on hold until after COVID-19. So, what explains today's move. Curious.
Just sold my 15,000 at 16p, so someone obviously wants some shares. I may end up regretting the sale, but as I had originally tried to tender at 15.5p I can’t complain.
Buy of 50,000 just gone through at 21.75p - seems very odd!
I use DeGiro and they managed to mess up my first request to tender my shares, now have a second chance - but curious who would spend over £10K on the share...?
Interesting. I didn't get corporate action notice from Iweb and can't see any mention on Redx site. but having read the presentation I am inclined to stay on board. Seems to me lack of funding forced them to sell on the cheap
Read the company presentation on site and judge if you want to be in or out
Corporate Action Notice received today with an offer to either leave the shares in the company or accept an offfer of 0.155 from the new owners.
Thoughts from any remaing small shareholders?
Not necessarily kingsinbad. It was up and down below 10p before this whole process was announced. Happy if it goes back there again. Almost expect it to but maybe not now there is one massive holder at 15.5p. This was about going higher later.
Folks could regret not taking the 15.565p if the s/p drops below 10p.
Its a very interesting scenario, Ill probably watch from afar until I understand it all better.
To be fair, they did pre-announce they were going to do this in last month's Offer Document.
Also said they might try to arrange a consortium in the future to provide financing to Redx, so maybe that's why they want to maintain the listing, I don't know. We'll see.
That's crazy, I haven't heard of that before. Im tempted to buy now at 14, I think with Redmile's power behind it, this could go on to be worth multiples.
Let me get this straight. Redmile achieved the threshold but didn't exercise their right to either purchase the rest of the stock or take the company private. Isn't that bonkers? They own 90% of the company but don't own the company. I suppose they managed to shakedown current shareholders to sell 40% for 15.5p which would have cost a lot more if they'd tried to buy on the open market.
Anyway, happy with this result.
Btw, Redmile also could have chosen to delist REDX (they have the numbers to do so), but apparently they have no intention of doing that either.
So again, nothing will change.
The bid has now ended. Redmile owns >90% so has the legal right to compulory buy the remaining <10% at the offer price from the remaining shareholders. Almost always the buyer excercises that right, but for whatever reason this time Redmile won't, at least not now. I'm sure they have their reasons, and I can think of one or two, but I'm no insider.
So, REDX remains listed if the AIM lets them (if not, the listing will move to another platform), and nothing changes, except the shares just got a whole lot more illiquid.
So you continue owning a share of redx? Something must happen
Nothing.
If you buy or own any of the remaining %age what happens to it? The buy price is now down to 14