The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen 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 can head down to the offices in Durham still and see if Barry is there or maybe in USA living the high life on anthricite bubble.
Audi gone, promised dash, wife will need to keep working and life goes on. Last week there was 20 millionaires posting on here who currently have shares in a business that is doing rather well, selling something that is rather popular in yet has no actual value.
If they made money they have profits, these need to go some where. Off debt, paid out, more mines so we shall see. How much they needed to raise against the bod wanting to sell shares in order to get personnal money we don't know, it's all right having all these shares but if they have no price they are in fact not worthless but far less in sp than listed.
What I don't understand it was a reverse takeover from dss so in essence they had already agreed the number shares, %s etc that would be traded, so very strange it didn't work out. Can't believe there was sufficient private shareholders at the meeting to get 75% and stop it.
unvrkw,
You will have to settle for a Lada Bronto 4x4 instead of the latest Audi Quattro Turbo hi-bred which will have to go back, it may be a comedown, but at least you will be driving a new car on 19 plates. Try to register it with a number plate with ACG in the registration to remind you of your folly in believing that the deal would go ahead without a hitch.
In the meantime, that nice Mr Adam Wilson might be able to negotiate a short term loan for you, at mates rates, with Komatsu, to tide you over until a deal is finally reached. He is good at that.
Perhaps he can also explain, in detail, what the problem was that caused the deal with DSS to fall at the final hurdle, so we know who to blame.
Meanwhile, a call to his Indian chums, billionaire brothers Malvinder & Shivinder Singh at Religare Enterprises, to come to the rescue would not come amiss.... they have the odd few $100m dollars doing nothing at the moment until Mrs May decides to resign or announce she is pregnant by a Brexiteer to placate the masses.
Does this mean I can keep the new Audi or does it have to go back? Will atc honour the deal for me please as it was bought of the back of the future! I would have thought this was reasonable, need the cash soon, glad I didn’t tell me wife.
Another deal few months from now I am sure. ??
I honestly hope we will not receive worthless DSS shares now
The offer document has played out to the wire and wont be resurrected,there would have to be a new offer document presented to shareholders then it all starts again.....who will blink first?......
If someone emailed the company and asked if the ds deal was off COMPLETELY and got no reply,when under normal circumstances a reply would be forthcoming that may lead one to think we have a cat and mouse scenario at play?....just a thought
Can you explain in what form we have been shafted please?.....all I can see is a board that is not prepared to let this go for peanuts......I hold tight and I’m very happy riding the best coat tails!
You have all been shafted again! I warned a couple of weeks ago that the crooks and charlatans in both companies with eventually shaft you and they didn't disappoint..
I wonder when we will get our share certificates back?
Might be another long haul now. Still mining good anthracite out the ground and this will continue, I want to see end of year results
My ad hock comment may not be strictly correct. IMO it is not only "any stupid giveaway stake" but followed by giving away company's Identity, which is terribly difficult mentally, emotionally; the BOD created this big future through all possible pains, without proper funds, bringing disappointment for shareholders, being heavily criticised. They were incredibly strongminded to be able to crash obstacles... and they will not share their achievements cheap, seeing even much greater future not far ahead.
I did not follow details of Agreement, was just happy to get some funds back - but I remember the change of name - and then who can predict what would happen to come back to old ID.
Our crumbles from a big table will be available but some time later - our crumbles will swell up in the meantime.
Sensible nobbler.....management they know what we are worth,I feel this deal is still open but not at any stupid giveaway stake.....a revised offer or acquisition would satisfy the liquidity event.....
Don’t worry it all cancels itself, you don’t have to do anything
I'm not too bothered by this. The company obviously has substantial value and we remain shareholders. They say they are disappointed and I'm sure that they are as the directors themselves have large holdings which it would appear they'd like to see a bit of liquidity in. A game of patience I know and there is nothing we can do but hang on in.
What's now. We have voted. Should we instruct brokers to do not exchange shares to DSS ?
can they extend the deadline?
I find it difficult to believe that DS throws in the towel for £7million squid based on due diligence in a reverse takeover!....they wanted more or ACG wanted them to take a cut in their 10% after due diligence on their accounts!
Well, for me, no surprise there then.
Would be useful to know which of the section 2 conditions, of the offer document, that the offer failed on.
Could it be "due diligence" and the outstanding financial issue, that I recall someone found - just wondering.
you might be right. the business is still doing ok, theyll have to share their 2018 year soon and let us all understand actually how their getting on.
divi payments, equity for buying others? not sure. in that last video shared it showed that they had leased land from others and so not sure how big the potential portfolio already is and do they need that much more at this time.
the bod i assume want maximum shareholder value so not just divi but also how can they sell all these shares they own? they have ended up with huge amounts that arent reaslising true, future value. assume theyll just try again, plentty of shells out there.
My next guess is another entity stepping in here....or a revised offer......if someone else has entered the fray it’s ACG,s perogative to look at the options...”liquidity event with a view, among other things, to benefit ACG shareholders”.....
Agree with that list garykc.......let’s just be clear 2x of those things on that list would greatly increase our wealth so im content with that.......nothing yet but the fat lady hasn’t sung her last yet......we have hard headed business men on our side,greedy?.....yep probably but then wouldn’t you be if you had built this?
I had a gut feel yesterday when we had no information that something was afoot. I don't know any details, none of us do, but this could be down to three factors I believe:
1) ATC being greedy
2) DAN being greedy
3) Another offer on the table for ATC's share capital
Gutted. Yes
Surprised. No
Lets hope they release other news soon on any other "enhancements" to shareholder value.
As per the offer document the “offerer” had to make a statement on the day after 31st March to let the market know either way......the “offerer” was DS so I find it strange ACG give out a statement!.......nothing from DS so I think we have the upper hand and it’s far from finalised?
Oh well, the old proverb:
What looks too good to be true, usually is, ... was proved right.
But one good thing in its favour is, I now know a share in my portfolio that I considered dead and buried, like the "Monty Python Parrot", does have a pulse and does have a value.
In the interim between de-listing and now, whilst off my radar, the company has made great strides and improved it's balance sheet considerably with the help of Mr Trump's tariffs and the rising price and demand for premium quality Anthracite, which they have in abundance. Plus, they have expanded by being acquisitive and buying up old worked out mines on the cheap which can be revived with implementation of their new machinery and methods.
Another disturbing thing I came across is the company, SeeThru Equity, who issued a very upbeat analysis of ACG last October is now being hauled through the American justice system for insider trading and promoting shares unjustifiably:
https://www.sec.gov/litigation/complaints/2018/comp24341.pdf
Was ACG to be another "insider" play with the report published last October 2018? ...
My holding has now reverted to its nominal value (5,230,716 x 0,0001p) and shows as worth £52.31 in my investment account ... at the de-listing price of 0.011p it was worth £5,753.79 ... it should be worth at least 3 times that now, if not more.
Now waiting patiently for the next episode in this comedy-drama.
Totally sickening ............