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Thanks, B2B2,
Very interesting reading ... some of you will see your names listed if you hold ATC in your own name (mine are with Barclays Direct Investing Nominees) ...
Look at Mr & Mrs Best's holding(s) ... several entries ... curious!
Total ATC shares in circulation: 7,042,568,560 ...
Thanks Yarmy, I misread the year ... time flies doesn't it?
If Stuart James Thomas kept his holding of 378,070,513 shares (which he probably has) he would now qualify for 589,298,508 new shares with the 1.5587 multiplier.
Back on December 2nd 2015, his original 7.70% stake was worth £416k at 0.11p... if the M/cap of the new company is £70m (share price: 0.6377p) his shareholding would be worth £3.758million ... a nice little earner for him ... and his chums on the BOD even more!
Didn't know if it was right to post how many shares he had at that date, but you will see yourself. Also, you will see he is still a Major Shareholder.
Kentan / Yarmy, yes this information is provided by a delisted company. In ACG's Confirmation Statement made on 3 December 2018, and posted with Companies House on 20 December 2018, It clearly shows Mr Stuart James Thomas as a shareholder. If you scroll down through all the names you will see his name (on page 46/50) and it also clearly states how many shares he is holding at that date.
There’s a lot of calculations to be made now the percentages are in,distribution,share price,consolidation,free float etc.....this has to be spot on to be taken seriously in a serious main listing.....
3 working days to rustle up the detail
Hopefully everything is still OK
I would imagine the extension to proceedings has thrown all the dates out......
I wonder why the delay, in not making an announcement until Monday ?
Per the offer doc:
In the event that these conditions are not satisfied or waived by the Offeror by 31 March 2019, the
Offer shall lapse and the obligations in this Offer Document shall terminate and cease to be of any
further force or effect.
Monday is April Fools day, so most appropriate
From the ADFVN Board:
Just spoken to ATC office. Announcement on Monday. Thats all, didnt say anything more. We’l just have to wait 6 more days.
Wonder when we will hear any news on the DAN vote which was due to take place yesterday.
Kentan the letter from Stuart Thomas was in December 2015 and the company delisted in early 2016, so we have waited for over 3 years for re-listing. Mr Thomas was presented as a shareholder but later we found out he was also an adviser to the board of ATC (but not on the board) so you have to draw your own conclusions as to whether he was working alone. However they only secured the 75% needed to delist from the shareholdings of those in the know including the directors. I believe it was mainly private investors who voted against and we may have been more supportive if the strategy had been better explained to us. I guess Mr Thomas is still a shareholder but this sort of info isn't provided by a delisted company.
Hopefully it will work out well for all of us the company always maintained the delisting was due to AIM rules on the reverse takeover and that it was in all shareholders best interests hopefully we will soon find out that it was.
I agree consolidation is likely as so many small value shares will probably put off the institutional investors they need to attract.
With the Pentagon approving the Mexican Wall to keep the Americans in, this must be great news for ATC's anthracite!!!!
They need to do some consolidation. Having to muck around with decimals is tricky
The company would have died on aim,a brave decision to delist and here we are now at our fighting weight ready to join the main market......
The company officers have such large stakes in atc their only way out imho would be to build the company and sell the lot lock stock and barrel at many many multiples of the current prospect.......
For information purposes ...
On December 2nd 2016 the share price at 8:21am for ACT was 0.11p (-0.01p)
Going back to 2nd December 2016 when the first indication of the de-listing of ATC was called for at an AGM:
Atlantic Coal shareholder Stuart James Thomas has requisitioned a general meeting to delist the company from AIM and change the name to Atlantic Carbon.
Thomas holds 378,070,513 of the company's ordinary shares - 7.70% of the issued ordinary share capital.
The company says the board is currently seeking advice in relation to the validity of the letter.
It points out that cancellation of trading on AIM would require approval by not less than 75% of the votes cast by shareholders at a general meeting.
As we know this was subsequently passed and the listing duly cancelled.
From what I can gather, Mr Thomas was/is a shareholder, not a director of either ATC or Daniel Stewart Securities (DAN) and will benefit greatly from whatever ensues from the reverse takeover and listing on AIM.
Some questions that I feel need answering:
Does he still own the shares and so receive the bonus multiplier?
Is he still a 7.7% major shareholder ... or what % will he own in the new Atlantic Carbon?
Was he acting on his own, or in concert with other directors of ATC when he proposed the motion in Dec 2016?
In hindsight, he has done us long term holders a massive favour and should be given our appreciation.
Come on ACG, news please. We are all waiting ........
i would be very surprised if we dont read an update today. the egm can go ahead what ever as the 50% was passed just a question of how many shares are being converted. is is 100% as we are over the 90% or the specific number based on voted and accepted shares?
there may be several updates later today on the whole thing, delisted companies can announce as they see fit as there are no rules so just have to wait.
I would have thought that the level of acceptance would be announced before the DSS general meeting, so that they all the info before the decision on the deal. Would seem odd if there weren't an ATC announcement of some sort.
Don't think a lot will be happening today. DAN accept the offer to them and that's about it.
Not including debt, I think this will have come down, all manageable and it’s for the working trucks. Based on certain, agreed loans with a Komatsu seller.
They reduced last year interest payments on other loans, started only selling clean coal at a loss is Rom but good decision as indices shows increase price so best they slow down the volume, clean it up and sell for a lot more as demand is high. Trump just got another positive not been implicit with Russia
Big week ahead starting tomorrow
Not a fan of Trump one bit but it seems that 2020 is a goer for him. If he does get back In I don’t see the gravy train he’s started stopping any time soon. Being shellfish this should do very well for anyone holding shares in a coal miner based in the USA 5p party anyone!!!! Hobi
They reduce ROM, backed off supplying others and started selling more themselves direct at higher prices. I think they we at least 1p, debt down unless they have bought more kit, sales up and anthracite up in value. Great graph just shows what has been happening
We shall know more after years of waiting. Looks to be good