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Hopefully good news for shareholders.
Anglian are using Safestyle as their trading name,and Anglian bought the order book.
Given that the creditors were owed £30M I suspect there has been large amounts paid by Anglian.
The mcap at time of suspension was only £444k,so those that bought at 0.45 may receive a good portion of that back.
You just never know what the level of distribution might be.
Good news though
I have just received a message regarding the liquidation of Safestyle, I recommend you check your inbox...
I found this paragraph most interesting, HL wrote -
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.
So shareholders are set to receive a 'distribution', does anyone have any educated guess as to the amount?
Stu
My 867k votes AGAINST have been cast! Good luck.
Hit the nail on the head there 404!
There was something very amiss about the way this all unfolded, at best those directors were negligent. For you guys to vote against the liquidation seems a total no brainer to me, in the same way that a turkey wouldn't be voting for Monday. If nothing else it might make life a bit awkward for them, even if it might be unlikely there's enough in the kitty for them to phoenix the listing.
Very easy via your broker, eg with HL on the my account page or https://online.hl.co.uk/my-accounts/investor-mailbox. Good luck.
Still find it amusing I have more shares than all bar Alan Lovell who I ain’t far off. Sure I ain’t the only one either.
Nice to see some chat here today! Must admit I’ve taken my eye off the company completely of late. I thought they had only taken the order book? Personally I’d be surprised if they took the listing, would be nice but not holding my breathe.
What I am more encouraged by however is the point bond raised. A fair few bought in here on the dying days and paying such a low price hold fair chunks of the share count in comparison to that of directors. We certainly do have a case to veto a vote on liquidation, where that then puts us I do not know but it does give some hope.
Have a great Christmas and let’s stay strong!
Maybe Anglian are interested in the listing
Should find out soon.
"Safestyle is a trading name of Anglian Windows Limited."
Https://www.safestyle-windows.co.uk/
Up and running again!
The irony is there are lots of us p***ed off people who are holding shares because they suspended trading before we had a chance to sell them. This could easily have gone up to 0.5p or even 1p maybe. Now we're holding shares we don't want, but that also means we have the power to vote against whatever they ask us to vote for. Could be interesting 😉
Hard to say isn't it. Director's have no skin in the game really so its all down to the majors, imo they get nothing back anyway so they might as well push fro the RTO route?
Morning GB. Yep, I'll be voting against too. Not sure what difference it will make be worth a try 👍
Well I’ll be voting against in spite. I have more shares than all bar one directors. Turn over the liquidation of the shell and have them work towards an rto
Still no word on what’s happening with the shell! What a joke
Maybe AW are interested in the listing
Where do you see that?
Happening January, not sure how It affects the suspension of shares, the brand Safestyle returning though, backed by Anglian.
Tbh I cant see them benefitting at all, their shares were bought at a massive premium to what we are likely to see if a cash shell starts trading.
Thanks for the reply GordenBennet. .Sort of waived goodbye to my shares,I just don't want that useless bunch to profit further ,whilst over 1000 people(employees,and sub contract) were well and truly shafted. I have no idea whether it is true, but a lot of people believe an offer by the previous owner to buy it back was rejected,due to him not wanting to retain any of the management (And why would he)!! ..Previous owner100m turnover(10m profit) ...That bunch. 154m turnover ,10m loss. Well ,we did have a warm September ..
Hi Toby, Nice to hear from you and sorry to hear of your situation re SFE.
Like you I am/was also invested in here. From my experience and I am no expert in this area however Its often the case that directors will be appointed I think by those handling the wind down. Are they remunerated, in some cases yes others no, depending on what the strategy may be.
What is the likely outcome from here, who knows... I had thought we may have resumed trading as a shell only with a view that we could trade until the appointed directors propose a date and conduct a vote on a liquidation/cancellation or the 6 month point listed within the RNS where if an RTO or alternative option s found where the shares would then be cancelled.
I am little confused by the silence here, as imo the next steps on how the shell will be maintained should really have been released by now. I did reach out to the administrators on this matter and they said they are not involved in the plc side of things. I never followed up.
I still have some hope here but it really rests on someone approaching with a proposed RTO. I do not hold my breath however.
Could anyone explain please, if the board of directors would be still in situ,as cash shell? I don't really know how it works,and are they still taking remuneration,for what was a calamitous display in destroying an established co. I used to work there so have 1st hand experience of management ineptitude....."to warm in September" "very hot in August" etc!! ..not wanting to take over old ground now, but would like to know how this works.... unfortunately I do have(had) ?shares thanks.
Https://www.insidermedia.com/news/yorkshire/anglian-completes-safestyle-asset-deal
Why are we being left in the dark here? Surely this should have been RNSd
Fingers crossed sir