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Many retail Investors will miss all this. There are many who don't read the forum chatter and may think that they have already voted and that the original (first) vote will still count. HL don't inform us. You have to go in and look for the Shareholder meetings.
How crazy is it, not just to vote again, because a meeting was aborted but to have to vote again for an Extraordinary meeting scheduled for the 29th March, 4 days after the Court Mandated meeting on the 25th.
IMO the advisers need to take a step back and tell BOD to pull back and start the whole process again as, not to do so, must leave them open to legal challenge. It may not stink (but i think it does) but it is one hell of a mess that gives AIM even more of a bad name.
The withholding of information is where the Nomad, brokers and advisers need to step in. Their reputations are on the line. A Regulatory reprimand wouldn't look good when they're out pitching for new work.
Yesterday, Konwave sold 2% and Decagon Asset Management LLP moved up about 0.8% to 3.5655%
https://www.londonstockexchange.com/news-article/market-news/form-8-3-shanta-gold-ltd/16389530
It is clear to me that this deal will not go through at the current price. If they cannot afford to improve their offer considerably, we get our company back. Either way, I don't care.
Keep the faith people , make sure you vote at all costs
CeeD -----Did Konwave AG Buy or Sell yesterday. The form 8.3 says 17.5 million were sold at 14.46p (RNS 7998H).
Its a shareholder HEIST not a serious or fair takeover.
Why are the directors issuing regular ramp up news for the new & other mines production (like they were) either? SOOO SHADY...
At 2,210 $/gold ounce even Fresnillo is going Up (+5.75%) but Shanta price is stuck in the mud as a consequence of Patel's.
I wonder to my self, why did the Board & Patel approve the 0.15 p dividend? Does Patel need some more cash in order to pay the TakeOver?
They are willing to pay only 4 times 2,023 profits. That is not enought. If they want Shanta they must pay the right price that is far above from 14.85 p.
I am guessing that they think some will get p****d off and not vote, or they will pick more shares up along the way. but surely, there has to be a definite number of times that they can keep coming back to the well. i also guess if they release an RNS that differs from the original proposal, as in the dividend reported this morning, that i dont believe was included in the upgraded offer, then they can come back and ask again. all smacks of desperation to get this over the line before the latest drill results and production figures are released. so fellow investors, how is your nerve..DONT SELL...say i
Ii - Got an email on 17 March asking me to vote on the Court Mandated Meeting by 22 March. Logged on and this was already showing I had voted against all resoultions - re cast my vote to be sure. My previous vote for the EGM however was not showing, so have voted against.
iweb - no voting instructions on the website so called them again (Having previously registered a NO vote with them). The guy i spoke to had to check with a corporate team, who advised my original voting instructions were still valid.
If anyone needs to call, its 03450 707129 options 3, then 7.
Aj Bell - logged on to check - there was no email or instruction to vote again, so I just re-voted 'Against' to be sure.
Really not happy about this low ball takeover, together with the lack of communication and the confusion regarding voting, so hope this helps folks. Register your NO votes asap before its too late.
2WM
I don't think they'll have done anything illegal just stretching of the timeframes which they will be allowed to do. when you invest in a company and they aren't doing great, want to change in their favor its interesting to learn how well design, the rules in place are, there to suit and help the board of directors. the law is stacked towards the owners, boards not the investors, that has always been the case and the owners of companies wrote the laws originally!!
It was Konwave AG that bought the near 2% stake yesterday.
This is big news. Konwave are long term specialist gold mining investors.
As I posted yesterday, I think there are more twists and turns ahead.
Annie, I'm fairly sure that the last vote was on the Scheme and this vote is for the court meeting. I'm sure someone more knowledgeable than myself will confirm or correct me.
Hounddog10
Yes the obvious withholding of information from shareholders here has always been the big issue as far as I am concerned. It's illegal under Aim rules and a Regulator doing their job would have called it out for what it is. I have lost count of how often I have reported this to
Aim Regulation, and am certainly not disposed to do so again as its clearly a waste of time.
How much money the company now has in the coffers from gold sales since the last update. Bet it equates to more than a paltry 0.15p per share extra.
As if the BOD are eating our lunch, whilst all the other Gold mining shares are racing upwards today. The increased offer isn't keeping up with reality on the ground.
Matty
I had a similar email to yourself from Tom. I am likely to write to him. I am still collecting up points but, having checked, a major one is the complete lack of information (beyond Q4 numbers) on the operational business since the bid. The contrast with recent prior years is very stark eg by now there would have seen R&R statements, WK drilling/resource statements and an update on Singida.
Also recent Annual Report dates have been 29 March 2023, 4 May 2022 (COVID relaxation), 2 March 2021 and 28 Feb 2020.
Whole thing is a complete joke, planned for a while i would suspect, the only thing they got wrong was the gold surge
how this isnt being look at by the regulators is beyond me, maybe they have bigger things to look into (they dont)
Having read recent posts I checked my HL account this morning. I had already voted No a second time on Monday morning, as my original instruction had, for some reason, become void. While my vote from Monday seems still to stand, there was a new "No instruction Given" for voting at the EGM. I have now voted "No" for this forum too... just to be sure. It's like the "whack a mole" game.
Quite simply they are shysters
Following on CeeD's post, you may already be aware but just to stress, the 29th is Good Friday, a bank holiday, and 2nd April is the first working day after Easter. This is incredibly underhand as many people go away and / or do not bother to look at emails or their investing accounts over bank holiday periods.
Hi Marty,
Well done on establishing contact.
With Q4 / Full Year results due on 29th March there will be barely enough time to consider these before the Court Meeting on 4th April given, especially that PI have to vote in advance of the Court Meeting date anyway.
Accordingly, I would like to see a further postponement of the Court Meeting or at the very least a directive from the Panel that the Court Meeting cannot go ahead unless the results are issued to the Market as scheduled on 29th March.
In the absence of a market announcement of results we would be in the crazy position of Bidco (via Patel) having more information than the company’s shareholders.
Good luck with your phone call.
Me too.
I am intending to call/email Tom Grace later to day (as invited) to voice our concerns.
If anyone could let me have the details of the main points/facts that I should be raising with him concerning this attempt by the Patels to rob us of future fair value for our holdings I'd be most grateful (as it would save me trawling through the chat board for these details)
Thanks
MB
I've just been into II and voted again, but I still haven't had a voting form by post for the SHG shares I hold as a certificate at home.