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Mr Gibbs?
Are you getting your wires crossed with Ray Gibbs formerly of Haydale Graphene?
I have a strong feeling shareholders in the former Applied Graphene Materials have been thoroughly rinsed here… Repeated assurances on several channels for a long period that the company was developing its sales for all its IP protected offerings, then wham! -suddenly it is liquidating and getting bought up for a pittance.
I have lost a lot of money on this stock. What I want to know is, what’s happening to the BOD for their mismanagement (potentially chicanery), especially the seemingly incompetent & inept Mr Gibbs!?
AGM's company Chairman Bryan Dobson was also a director of Universal Matter GB Ltd until 28th March 2023, whereupon he resigned.
The same outfit buying out AGM for a snip.
Is this company and it's Directors a Joke or taking us for Mugs?
Corporate notice today states company appointing Liquidators who will charge horrendous fees and then if anything left over, Shareholders will get a payment ( some hopes). The Joke of Jokes, the company is being re-named.
You could not make this up??
A loss can only be used once the Official Winding Up order is confirmed. The Loss will apply to the Tax Yr the WUO is confirmed. The Loss can be carried forward yr on yr, remember CGT Allowances have halved from April 5th and will half again next year.
There may be a case to answer here, has the Regulator been alerted?
Total chicanery which must be investigated, which could lead to named Direcetors being banned from holding office in the future.
When can we write this off as a loss for capital gains tax?
They’ll complete sale and some of the bod buy back good bits for a £1. That’s the way it works, unfortunately
Investing in these **** houses taught me a valuable lesson, I'll be glad to see them off my portfolio but will never forget.. keep your eyes peeled for the BoD in future..
Vote against the proposals, I can't see why they should get an easy ride after ripping off investors.
Private investors have kept them in a job for years, hard to have any sympathy, they must have been as aware as any what was happening.
Well I've voted against their proposals,I'm going to be losing all my money so hopefully the management will as well.
So the board want us shareholders to vote for the sale so they'll get some money and we'll get f**k all. If that's the case then I'll vote against and hopefully the ****s in charge get nothing either.
Hi all, if you’re still lurking around that is. Question… Is there any benefit at all in voting against the wind-down proposals once they’re put to a shareholder vote?
My basic understanding is that either way we shareholders will recover zero or a next-to-zero. On the other hand for some people it could make a significant difference - paying members of staff and so on.
So is it simply a case of our charity? Doing the “right” thing? I aspire to be a charitable soul, but I’m also not averse to digging the knife in if I’ve been truly shafted… is there a way to have a final hurrah at the expense of our shafters, without being needlessly cruel to innocents lower down the chain?
"Wonder when they will pop up next."
Wouldn't be at all surprised if Mr Potts is appointed a position on the board of Universal Matter UK Limited in due course.
Reading the RNS it seems that they consider their greatest achievement of the last 10 years to have been able to repeatedly raise new money from shareholders.
13 years a listed company to achieve nothing, and then sell the business on the cheap, pay the creditors and keep the rest of they money in house. Nothing for share holders who traded it or raised money along the way. The gravy train is over for the BOD with one final big pay out. Wonder when they will pop up next.
That is all
https://www.business-live.co.uk/technology/applied-graphene-materials-shares-suspended-26091092
If the accounts are no produced by Tuesday 31 January the shares will be suspended..
It is cheap now , never mind in Admin...there appears to be several interested parties , so there is competition , so it depends on how much a bidding company wants the assets ....the Board will move with any best suited proposal which could secure the Buyer, which may be a better idea than trying to compete with others and having any Administrator make the decision of who wins. There are only 64m shares so there are not a lot of shareholders anyway.
They only have leased premises , so in affect the company could just pack up and move and become part of another entity pretty easily.
Why would anyone buy the business now? Surely wait until March, cash runs out, then buy it cheap during Admin?
Discussions with interested parties are ongoing but the completion of any possible transaction will only take effect once shareholder and regulatory approvals have been obtained and this will not take place before 31 January 2023.
The Company's available working capital will become fully depleted by 28 February 2023.
Company's annual report and accounts for the year ended 31 July 2022 need to be published by 31 January 2023,and if not, the share will be suspended, until they are published.
Their Indian contract with the power distribution application seemed to suggest a profitable business, it seems unbelievable that they've run out of cash. Can see why an investor might feel cheated.
Be interesting to see how it pans out...
The fact there are a number of suitors suggest a deal with one of them can be done .....the future potential is big ..and all the ground research has been done ..... almost ready for Industry to start taking it on board , which the next 2 years
Shame if it gets sold abroad
Yes I got this completely wrong. I need a 5 fold here just to break even. Could have taken a punt here and got out flat as I bought in the primary bid placing and that was heavily scaled back. But I dont like the company.
I would still urge punting money only as they will go broke in a month and not to get greedy if you have a good profit. The Board has no idea about business etc and I simply dont trust them after such a huge fall and getting through so much cash but hey what do I know?