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.
I have emailed KPMG on the distribution which HL seem to suggest.
Well that was obvious wasn’t it!
Has anyone had correspondence from HL on a distribution? Perhaps that’s why 36 million votes for, either tht or they are wet between the ears…
I can only assume that is the reason you would vote for if you were told there’s cash in the pot to be returned.
No question anyone who voted that through either had a vested interest or was a moron. Guaranteed this would have had value as a shell. Note also all those director mouths still being fed despite them having nothing to do since the operating cos are already in different hands.
Resolutions passed!! Absolutely shocking! Seriously, who voted to have their money taken from them? What's wrong with you? I don't trust this result for a second!! Still no mention of any funds for shareholders I see! Unbelievable!! Oh well, that's that then! Sorry for anyone who lost a significant amount here. I hope you get something back, assuming they weren't lying! And if you voted for this, I hope you get nothing! 👎
Sometimes a loss beats the on going stress in these situations. I bought it late baring the risk and have had to sit it out.
Fingers crossed
I got out, at a loss, but still following closely.
No idea on the outcome, but the HL correspondence looks promising.
My mistake thought it was 10 am.
That said I can’t see it being a long meeting.
Have you a view of a potential out come crawshaw?
It only commenced at 11:00
Well, what’s the outcome of the EGM???
BIG DAY tomorrow, can we vote this down and resume as a shell...
Or will it be based with a pay out a suggested by HL?
Amen Bond! There’s a few ways it could play out here. 1, if HL know more than you and I and there is cash in the pot - great.
2, voted down, trading must resume and you would hope they are forced into seeking an RTO. Either way I’d hope the price won’t go much lower than pre suspension. Perhaps spike…
3, remain suspended post no vote, which to me would seem pretty unethical.
Yes indeed GB! I'd be very surprised if the resolutions are passed. Would be like turkeys voting for Xmas if it did. I would guess the majority of shareholders are people like us who got caught out on the last day of trading. If it is passed, I would believe the vote is seriously rigged. Still don't see any evidence there's any money left for shareholders, so why would we vote for it? I hope people didn't fall for the dubious HL email stating there's cash leftover. We should've been informed of that via RNS if there were.
I'm hoping someone will come along and say they want the listing like what happened with ITS. There's no reason at all for us to be suspended as we're a cash shell. Come on BoD, do the right thing!
GLA!
Big week ahead!!! Hope everyone has voted.
Big week ahead!!! Hope everyone has voted.
REMEMBER TO VOTE BY 4pm TOMORROW!
Hi Stu,
No appears not, I hadn’t been checking in as much recently either until I see your message I too had written off my investment. I have cast my vote and will cross my fingers for a positive outcome. I feel if they want to sway voters with a vote for liquidation they could have come out with the “sufficient cash” chat via RNS.
Suspect we may hear something after the vote has been concluded next week.
Take care
I don't think many are checking in here Gordon, most have probably mentally written off their money.
I too was hoping a fellow HL investor would confirm they had also received the Safestyle message and give a rough idea as to any distribution - possibly we will know where we stand by the end of the month?
Has anyone else received a message from their broker aside from HL users? If so do they also mention a return/distribution to shareholders and sufficient cash to do so?
I would be keen to hear peoples thoughts on a possible value if this is the outcome? at .32p they would be looking at around £450k, being conservative i can see .25p being offered. Perhaps they will surprise us with a £1 mil pot, appreciate that isn't great for LTH/directors but wouldn't be a terrible outcome for those who took a punt pre suspension.
Thanks Stu, very helpful.
It is becoming interesting as I had expected back at the time of suspension. Took a while and I did feel we had been shafted end given the slow comms.
Goood luck to everyone,
The message was from HL (Hargreaves Lansdowne) and not Safestyle Gordon, so you may not receive anything through Halifax...I have copied and pasted the message, as providing a link may compromise my account - I can assure you that what I post below is a genuine HL message received this morning -
Safestyle UK plc - Voluntary Liquidation
Reference: ********
Dear Mr ******
Safestyle UK plc – Voluntary Liquidation
Your holding of ****** shares within your Stocks & Shares ISA
What is happening?
The board of Safestyle UK plc has announced details of a proposal to liquidate the company and return cash to shareholders. The company will appoint a liquidator subject to shareholder approval at an extraordinary general meeting (EGM) to be held on 10 January 2024.
How to find out more and vote
You can vote on whether the liquidation goes ahead online. If you’re already logged in to your account simply click here and select the ‘give instruction’ link next to the relevant shareholder meeting.
If you’re not currently logged in, you’ll need to follow the steps below first:
Log in online at hl.co.uk
Select ‘view shareholder meetings’ which you’ll find under the link to your secure messages
Click the ‘give instruction’ link next to the relevant shareholder meeting(s) and follow the instructions.
You’ll need to do this before 7pm on Thursday 4 January 2024 so your vote can be passed onto the company before the shareholder meetings. If you’ve recently bought shares, it will take 2-3 days for you to be able to vote on these.
We’re not able to accept instructions through the HL app.
How much will I receive from the liquidation and when will this be paid?
The company is expected to have sufficient cash resources to make distributions. The date for these has not yet been announced. We will contact you again once we have received confirmation.
Other information and warnings
Should you have any queries relating to the liquidation please contact us. Please note, we can provide factual assistance but cannot provide advice about which option you should choose.
Yours sincerely
Mya-Leigh Sim-Jones
Corporate Actions
So still many unknowns, but I doubt they would have sent the message without a degree of certainty in what they were communicating...
Hope this has been helpful
Stu
I am yet to receive the message from Halifax, would it be possible to forward on?
Very very interesting. I would be very please with anything greater than my average of .42, will take with a pinch of salt for now and I have already cast my vote against, albeit before todays news.
I agree. No indication of amount either, could be derisory. I think a return as a cash shell from this market cap is the best bet for shareholders. Look at ITS, shareholders voted to stay listed as a cash shell, a little speculation, and then rocketed.
I find it very odd that this hasn't been RNSed. I think it's a way of getting shareholders to vote for the resolutions. I've voted against as I believe we should be back to trading as a cash shell. Don't fall for it!
Yes, it would be guesswork (certainly on my part) to suggest a figure to be returned....if they were to return say £1m divided by 138.87m shares, that would come to 0.72p per share.
To be honest I did not invest hugely and had pretty much written this off completely, so anything would be a pleasant surprise
Stu