Roundtable Discussion; The Future of Mineral Sands. Watch the video 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.
Thanks,that is very plausible and I can’t hear the fat lady yet......
They would probably have been transferred to an existing shareholder for an agreed price, therefore, to keep control and stop them from getting into the wrong hands. You can see the dates and amounts on the CS01 against each shareholder when their holdings were lowered, but not when they were raised, which would have been a clue as to who benefited from them.
We also need to see what incentive package was offered to Seth Schwartz, it must be quite lucrative and may be dependent on getting the stock listed.
It must be that Adam Wilson, Stephen Best (look at his Mayford Equities mammoth reduction in shares), Peter Shea & Co. (via nominees) have equity worth many $millions in ACG that will only be fully realised once the company comes back to market, with a distinct possibility of dividends in the future from rising profits and expansion.
For this to have got so close to the RTO and stalled at the 11th hour, there has to be another attempt to re-float that will appease the miners on the board.... it is a bit like the Brexit debacle, almost but not quite, so the person(s) in charge resigns (Best & Wilson/Theresa May) and a new person put in the box seat (Seth Schwartz/TBA) to get it through.
It would be nice to see my holding showing better than the current nominal value in my portfolio.
Hi Kentan,I’m finding it difficult to see how any shareholders could reduce/increase their holdings since de listing?......matched bargain maybe if you needed to switch some stock but openly sell is nigh on impossible and pointless as the agreed price would be based on old fact/figures so not viable certainly not a profitable
Transferring stock yea maybe but no value could be attributed to the transaction only an amount of stock
Happy for any explanation
With the recent board changes, we are in need of an updated shareholder check to see if any of the Directors who stepped down are still invested in ACG.
It was apparent from the last CS01 published in December 2018, that Stephen Best has reduced his holding to zero with a tranche sells over the preceding year, the same appears to have happened for his wife Catherine Mary Best (also as Katherine) who also reduced her holding, but remained a significant holder. Also, family members were still shown invested with Best's daughter Lucy having married, her holdings were recorded in her new married name.
Best & Wilson, although they are no longer Directors they still maintain an element of control whilst they are shareholders.... it is important that we know who has significant control so that the new BOD can guide the company to future expansion and raise the necessary funding, be it by a refloatation or other means, to realise the increased value