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Chimpus
Just forwarded a copy of your HL response to my contact at the Takeover Panel with a request to forward it on to the relevant body that should be looking into this further (as I thought that coming from them might garner more attention than from us humble PIs?)
Don't know if it will be actioned/make any difference but was worth an email I think!?
Following the outcome of the last vote, I wrote to HL regarding my concerns over the poor communication and misdirection from Shanta over the whole process. This is their response below:
Dear ......
Thank you for your message regarding Shanta Gold.
We can confirm that there is an ongoing investigation. We had written confirmation from Shanta Gold that votes would not be carried over so we relayed this to clients very shortly after the initial communication. We were then contacted by Shanta Gold, and we were advised that votes would actually carry over so we also relayed this as quickly as possible to clients.
I believe further confusion arose from there being a secondary meeting open for online voting. We have an in depth investigation into how this all arose, the miscommunication, how we can ensure this sort of situation does not arise again in the future.
We apologise for any inconveniences and confusion caused.
We will be happy to support with any information we are able to provide subject to any restrictions we may have upon us due to the investigation.
Please also accept our apologies for the delay in response.
I hope this has been of assistance. If you have any other questions, please get back to me.
Kindest regards
Corporate Actions
Hargreaves Lansdown
They wanted guarantees for their short term investment by hoovering up the PI/RI shares....and they were told the 15p was guaranteed! WIN/WIN for them and our "Shaggers".........Karma will get 'em ..........we should do a collective voodoo curse......or maybe already we have .....in our thoughts! GLA
At this price, gold is $400 per ounce higher than the average realized price by gold miners in Q4.
Currently in Q2, most of the increased margin is falling right to the miners' bottom lines.
Shanta management have not acted honourably or in shareholders interests & have now stolen our company after years of private funding they are minting it now.
Well done yes voters & lazy institutional investors. You played yourselves & sold a golden goose for a pittance & in doing so shafted shareholders also. lol
Sprott
"For the gold mining sector, we estimate a fully loaded cost (extraction, sustaining Capex and exploration, plus corporate overhead, interest and taxes) of $1,750 per ounce. The gold price averaged $1,943 in 2023, indicating an industry-wide profit margin of $200/oz. Assuming a 2024 average price of $2,072 per ounce (same as Q1 2024), the industry-wide margin would rise approximately 61%."
Current Price
$2,374.04
Today the industry-wide margin would rise approximately 216%!!!!
Like i said before ....they could not have afforded to takes us private beyond NOW!
Thanks for the info.
Any guesses where the share price will go before the end ?
Trading continues because the Scheme Court Hearing date (D) has not yet been fixed.
8th April RNS:- https://www.londonstockexchange.com/news-article/SHG/regulatory-approvals-update/16412624
Further Conditions and Timing Update
Completion of the Acquisition remains subject to the satisfaction or, if applicable, waiver of the Conditions set out in the Scheme Document including, inter alia, the receipt of regulatory approvals from the Tanzanian Mining Commission and the Cabinet Secretary for Mining, Blue Economy and Maritime Affairs in Kenya and the Court sanctioning the Scheme at the Court Hearing.
The Acquisition is expected to become Effective in H1 2024, subject to the satisfaction (or, where applicable, waiver) of the Conditions.
The expected timetable of principal events for the implementation of the Scheme remains as set out in the Scheme Document and is also set out below.
Scheme Court Hearing
A date ("D") expected to be on or not later than 21 days following the satisfaction or (if applicable) waiver of the applicable Conditions set out in Part 1 of PART III (Conditions to the Scheme and the Acquisition) of the Scheme
What are these mostly small buys all about? I thought trading had been suspended on D+2?
Totally agree. I managed to pile into sfor with 40p average. Check it out. I'm confident it could get to £2 by next year. It was nearly £9 not so long ago.
Where to next people!Luckily I came out of this in profit (been here long enough).Its put me off miners and AIM though.Had more success buying Rolls Royce on a low.
CeeD, 'Hindsight is a wonderful thing' as my old mum used to say. I was as gutted as the next of us but we had little control being in nominee accounts. They've won this time but karma will bite them on the backside one day, whether we hear about it or not.
Best of luck to all. Onwards.
We all know it has been a hell of a ride, with corruption and greed all on full display, including mine, i might add, if i sell today i will have made 46%, which in just over a year is a cracking return...but we know it could have been more. i only hope eric, who's reputation is now pants to all investors here, has had a worthwhile pay off. my zephyr are flying, my harl is a dog, but that is investing for you. luckily i am not desperate for the money so will probably hang on for now, haven't really decided, but if something else takes my fancy, like arrow maybe.
whatever happens GLA, we will meet again.
Sold this aftie after being tempted to hold and see what I get but decided it wasn't worth it. Sad to leave.
We'll never know. Once SHG gets sold it and its accounts pass through a veil beyond which we mere mortals cannot see. The same goes for any envelopes brown or otherwise that might get passed from SHG new owners to obliging government ministers and officials.
****goestheeasal --------"i'm wondering what incentives were put in place for such a speedy response....?"
i'll give you a clue ----it comes in brown envelopes and it's called backhanders.
The speed a which both the Kenyan and Tanzanian authorities have given permission for the takeover is mighty impressive.
Given that African governments have a reputation for sloth and indifference I'm wondering what incentives were put in place for such a speedy response....?
Move on and buy Celedonia or Cerrado or other cheap stocks .. no need to cry like little childs ... unbelievable behaviour here at this message board .. unbelieveable ... there was an offer ..80% voted FOR , 20% against .. its completeley OK ... even without a PRO - recommendation from BoD this deal would be a done deal
''Whose job it is to protect us from CEO/CFO shenanigans''.
I always thought that it was 'The Regulator', but then we all know how utterly f8ing useless they are!!!! 😡🤬😡
The BOD are all crooks.
Not one of the BOD stood up for the private shareholders including the Independent directors.
Whose job it is to protect us from CEO/CFO shenanigans.
Remember when the CFO/CFO father Sold...that should have been a warning...but good to see the Patel class colluding with the Western Financial class to continue enriching themselves at the expense of others.
The lesson is...get out when the going is good because ultimately, if the going is real, you will be shafted by the `big boys' in collusion...
Why are you surprised?
No wonder the London Stock Exchange is struggling if this sort of behaviour is considered acceptable.Its put me right off AIM.Its not investing it’s gambling,with us the private investors the punters and II’s the casinos.
Https://x.com/itsrichhoblyn/status/1776554905865511256?t=RueE6dkW_uF0WRfXSs5Y0w&s=08