We would love to hear your thoughts about our site and services, please take our survey 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 don’t pretend to know what’s going on bec it’s all so much bigger than me but I’m just going to do what I’ve always done with this share
Head in the snow....its no way enough.....one thing for sure....I would not want to be holding his hand to stop me from falling off a cliff....were all supposed to be human.... hearing comments like that are bad for business....
Any one with half a brain cell,would not compare the channell tunnell with the tunnell sxx are building,it may be longer,but that is were it ends,
I dont think we could run trains through it,and i think the chanell tunnell may be a tiny bit more compex than a conveyor tunnell,
I may be wrong though.
Skier has always got his head in the snow
Skier
In my previous posts....I mentioned if something is bad for business or damaged goods...get rid...and that includes shorters like you and all that stand for you...you clearly have no conscience....many people from all backgrounds have an interest in this....to read comments like you have posted....deserves to be pulled from the train tops like the extinction mob....your a ****ing disgrace....
Close the door on exit your a nonse..
Your ****ing welcome...
Regards L
Skier what do the charts say if the co is de listed at 3.5 p,,,
Then relisted in two years time ,what price does your chart predict the sp will re launch at? Still 1 p ?
Yup, cash is king, time is queen... And SXX is running out of cash and time.
Tbh, it is quite astonishing that anyone still has shares here. It has been clear since 40p that the tunnel and funding are in (big) trouble. A tiny company was never going to build a giant Channel Tunnel.
Thus, SXX has always been a share for fantasists or dreamers. And it has turned into a nightmare. The charts are pointing to 1p as the next stop.
Only the brave stay in .If a dead cat bounce happens ,might be the best the only opportunity ,To get most life savings back.
Yes, but they can suspend the stock with the suspension remaining in place. In that instance, you cannot sell full stop. Forget company rules and all that ******. this all comes down to cash and commercial viability....
Unfortunatley, that's a decision that the Board makes, not the shareholders.
If they (the Biard) believe the rule applies, the financial position is "precarious" and the business would be better served for it future existence by being private they can give you 20 days notice then move to taking the compnay private.
It would require legal action to prevant that if there's no controlling shareholder or the FCA stepping in.
SXX situation at this moment in time dont qualify for RULE 5.2.7 so it's wrong to suggest they dont need the approval of shareholders to delist.
Devon - RULE 5.2.7 is last resort scenario
So you now agree they don't require 75%. That's good.
Can see why though. What with the shorting allowed on our markets, rumours and feverish speculation on unregulated boards like this and ADVN, market manipulation etc, makes life very difficult for companies. 90% of the market is probably overvalued or undervalued. From his point of view all this has damaged the SP unnecessarily and left him in a weak negotiating position. Hence pull the plug and go private.
Devon - RULE 5.2.7 is last resort scenario. SXX has cash in the bank and development has been halted to reduce OPEX.
You know what. F##k it. To the bitter end.
Just wish I could unsubscribe to the bloody RNS.
I'm going to stop looking now. It's just depressing.
"devon - useful document and it does say 75% shareholder approval is required"
Unless RULE 5.2.7 applies.
5.2.7 is the one that gives them power that don't require a vote:
5.2.7R5.2.7AR5.2.8R5.2.9R5.2.10n Release 43l Oct 2019www.handbook.fca.org.ukLR 5/6n LR 5.2.5 R (2) and (2A) will not apply where an issuer of securities notifies aRIS:
(1) that the financial position of the issuer or its group is so precariousthat, but for the proposal referred to in n LR 5.2.7 R (2), there is noreasonable prospect that the issuer will avoid going into formalinsolvency proceedings;(2) that there is a proposal for a transaction, arrangement or other formof reconstruction of the issuer or its group which is necessary toensure the survival of the issuer or its group and the continued listingwould jeopardise the successful completion of the proposal;
(3) explaining;(a) why the cancellation is in the best interests of those to whom theissuer or its directors have responsibilities (including the bodies ofsecurities holders and creditors, taken as a whole); and(b) why the approval of shareholders or, in the case of certificatesrepresenting shares, holders of certificates will not be soughtprior to the cancellation of listing; and
(4) giving at least 20 business days notice of the intended cancellation
Do any of those sound like SXX....
devon - useful document and it does say 75% shareholder approval is required
https://www.handbook.fca.org.uk/handbook/LR/5.pdf
Haven't read this in sometime, but it should say here what the requirementts are.
The big hitters might mop up shares.To make up the votes.Share price could go the other way.Like A dead cat bounce before De-listing.
I'm pretty sure there's a 30% rules. If there's shareholder controlling more than 30% then the rules apply. At that point the Amended Rule 5 applies, if there's not then you dont need a 75% majority.
They need 75% shareholder approval to delist. Unilever tried to do delist back in Oct 2018 but failed due to not enough votes.
"If indeed he is going private then the shareholders have to be agreeable to any offer correct?"
If the Board takes the business private, de-lists, they don't require the approval of shareholders.
Usually that within their remit, unless something is stated differently in the Articles of the Company.
Un theory it doesn't effect your shareholding, just the ability to trade the shares. You can still exchange them privately, in accorcancw with the some Articles. They may mena you have to offer the to the business first, them other shareholders, before anyone else. If you can find a buyer.
It doesn't mean there's an "offer".
LITC
;)
KOH