The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register 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.
Agreed Daisan. The most likely outcome from a 'no' vote will definitely be administration... possibly, with MNG buying the asset ! Be careful what you wish (or vote) for. The AUE scenario, is a blueprint of Beacon hill resources. The shareholders revolted after constant dilution, promises and "jam tomorrow". The shareholders won the day, despite a £45,000 to £50,000 buy of stock from some hair dresser linked "allegedly" to the BOD, trying to head-off the revolt. BHR went in to administration (apparently it was all the PI's fault) and every investor lost their money. If i was still invested, I wouldn't go down the 'vote no' rout again. That decision cost me dearly! But hay! DYOR
Daisan not daison... Typo
Daison , you are probably right as there are chances for that. But in case of administration... MNG won't be the only player to have chance to buy it as there are much bigger players / potential buyers in the market. If any third party buys it, MNG will be in loss as they hold majority of the shares currently. So going into an administration isn't the option for MNG (just my opinion, can be wrong).
The most likely outcome from a 'no' vote will be administration with MNG buying the asset from the administrators. So I suspect that they will probably get their hands on the asset either through the front door or through the back. Unfortunately I cannot see a way where MNG does not win here. There is, however, a compromise where small shareholders just go along for the ride in the same way as happens at Goldbridges. That has a large majority shareholder but still trades on the market and it seems to be working reasonably well so far. Although it is never comfortable having a large shareholder calling the shots.
I emailed HL yesterday about applying for shares through them with Numis, I have just had a call from HL and they are able to place an instruction with Numis on my behalf for shares under the option, although they have said that this is an odd placement and I may or may not get them or they may be scaled back. I also could not deal online. All very odd.
Barclays have just confirmed, having spoken to Numis, that under HMRC rules we cannot receive discounted shares under a share ISA.
looks like NO to everyone from their brokers because of complicated nature of the share issuance and very limited time given to the shareholders. So I would go for no vote through my broker.
As others have found out with their brokers I have contacted Halifax this morning and they say they will not help me to acquire shares. As someone suggested the shares might fall nearer to 1.5p in the next few months and I could pick them up then.
I phoned my broker (NatWest) this morning - the guy said I had no chance in subscribing in my ISA. I asked if anyone else had tried to apply and was told no.
I have 89k so count my no vote.
I think clever people will be buying shares directly from numis, at 2p buy price.then inform numis they wish to exercise option price at 1.5p giving day an average share price of say 1.75p. They would then have a lower average than MNG, gauranteeing an instant profit and through buying there shares through numis would not have any of the problems of buying shares through share dealing services that we are exsperiencing. .... who is buying at these levels, it's not existing shareholders because they are waiting for a RNS which will never come. IMO this is insider dealing....corruption...draw your own conclusions which party's are behind it.
This whole deal... raising £72 million can't go ahead without the blessing of small shareholders. On or around the 29th November, small private shareholders e.g. You and me will have a vote to say yes or no to this deal. MNG and all the institutional shareholders are not allowed to vote.they are excluded So if we as small private shareholders said no to the deal. MNG & the institutional shareholders would be forced to cancel the fundraising, or offer better terms and conditions to small shareholders. Or aureus could be put up for sale, which is my preference. Another gold miner sol gold was 1.5p at beginning of year and is now 28p. BHP biliton want it. Aureus could be the same. My thoughts are to vote no to the deal. We need Someone to organise a no vote. As a rough figure 260 million shares should carry a no vote. I've got 240,000, anyone else?
the way company is dealing with shareholders is very disgusting. making things even more complicated than they already are instead of putting focus on business development. or they simply just wanna kick out pi's once and for all. question is? if MNG decides to take this company private... where do pi's stand? and what happens to their shares in aureus?
Thanks RPB1. Appreciate your feedback.
Don't blame Numis, this ludicrous position was created by MNG. They imo, clearly wanted to give the impression that existing shareholders would be included, while making it near impossible for them to subscribe if they held their shares through a nominee. There does not seem to be any incentive for Numis to find buyers, so why should they put themselves out? They are simply doing their master's bidding.
contact HL, and make sure they understand the RNS, Mr Black at Numis needs the current number of shares you hold and the number you require. The request needs to come from HL, He will accept instruction from HL' Speak to them and get them to register interest on your'e behalf. good luck
iam with Eqiniti(Shareview),,when i told them about it,,they thought it was a boiler room scam,,iam not impressed with Numis
Just sent this email to Numis - won't hold my breath for a reply: FAO JAMES BLACK I hold shares in the above company, which I purchased using Hargreaves Lansdown's online share dealing service. I note from the Company Announcement of 14/10/2016 that it may be possible for existing shareholders to buy more shares at 1.5 p, subject to the "Broker Option" being exercised by 28/10/2016. Have Numis exercised this option? If not, will it be exercised by the deadline? If the option is exercised, I would wish to subscribe for such shares as are available to me, but I'm not sure the quantum involved or the process for acquiring them. Please advise the maximum number of shares I could buy at 1.5p (assuming the Broker Option is exercised). Would you accept an instruction from HL? What is the deadline for receiving such an instruction? Please advise ASAP
Not many people can get the shares at 1.5p due to brokers not helping them to reserve shares for payment in Dec ember. deadline of tomorrow 28/10/17 is impossible. everyone is expecting a RNS tomorrow which is not going to come. The only way to get shares at 1.5p is to apply directly to Numis, AND THEY NEED CONFIRMATION FROM YOUR BROKER.
Just read again what you wrote, when you email James black, you are reserving the shares for payment in December. The share raising will not go ahead if minority shareholders vote the whole capital raising down in november. Td direct are letting James black know my current share holding, and how many I require. All subject to conditions of November vote. Surely Halifax can let James black know your current number of shares held and number required at 1.5p issue price. They must read the RNS to realise they are putting you in limbo. Or can you transfer your shares to Td direct and then let them handle your allocation? Would hate to see you miss out, I have genuine respect for you.
Omg gutted for you, I hope you find a way around it, I'm with td direct and one of the senior traders I spoke to said this was the most unusual raisings he had seen. But he said they would purchase the shares on my behalf. Let me know how you get on tomorrow.
You are right. Halifax are not going to place an order as you say I could change my mind. I have though tried to purchase the shares and when it falls through I will be e-mailing Numis again pointing out the flaws in the broker option. They can't say there wasn't any interest in the shares.
"If Halfax brokers could place the order with Numis then we will be in a position to give Mr .............. an allocation." I am sorry, but I don't see how this can work. As there is no published Open Offer I don't see how Halifax can buy these shares for you. Halifax as the official owner of your shares would have to buy them for themselves, and then hope to sell them onto you at a later date. What if you changed your mind, and no longer wanted them? IMO, for this to have stood any chance of working, the process needed to have been started when the RNS was released, not 24 hours before the time limit expires.
James Blacks details. James Black Managing Director, Corporate Broking & Advisory Numis Securities Limited The London Stock Exchange Building 10 Paternoster Square London EC4M 7LT j.black@numis.com
E-mal sent from myself to Halifax share dealing with James Black copied in. Good Afternoon. I have a share dealing account with yourselves, account number ............, and own shares in Aureus Mining Ltd. This company has announced an issuance of shares for 1.5p to current shareholders through its broker Numis Securities. There seems to be some confusion as this offer has not gone through to brokers such as yourselves and this is borne out by comments on discussion boards. I have though spoken to James Black of Numis Securities who has suggested that I should e-mail yourselves asking for you to subscribe on my behalf and that the funding can be processed once approval is granted at the shareholders meeting. If approved at the meeting I would like to subscribe for 300,000 new shares at 1.5p. This e-mail is being copied to Numis Securities so that they will allocate additional shares to the Halifax. Many thanks Philip James Black has followed this up with this reply:- If Halfax brokers could place the order with Numis then we will be in a position to give Mr .............. an allocation. Yours James If you want an allocation you have to get your broker to contact Numis with details of how many shares you want and they will give you an allocation..