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sorry that was in reply to not being able to offset losses against CGT
why not?
A good summary Cardo. I often wondered dhat it felt like to be buttfxxxxxd. Now I know
The GM was last Monday, no feededback but best guess all resolutions passed (Jubilee 29% remember).
Share "consolidation" 30 - 1 will happen early Nov.
Jubillee's 29% will not change.
£1.5m for listing maybe before year end, already running late! No idea how many shares that represents but unless Jubilee invest heavily in the new shares their % will be be reduced quite considerably from the current 29.
Royalty, which as far as I know has never been published or made available to shareholders, will simply disappear which is what CB wanted all along. Any and all questions re the Royalty have been met with obfuscation and excuses.
CB has stated that they expect no income, from the Royalty, in the midterm but with no definition of what midterm is!
If I am wrong, the Royalty will be diluted from the existing number of shareholders to a vastly increased number of shareholders after the new listing, thus making the Royalty worth a microscopically small amount to existing shareholders!
Jubillee wont care as they already have the assets!
Anyone care to argue?
What you also have to bear in mind that CB has many directorships. Public companies, AFP, BZT, GLR, JLP, TIR & XTR. I don't include Kendrick as the shares are suspended, but he is still a director! There are then atleast 10 (pty) ltd companies listed. Basically "private" companies. All this information is in the public domain and I don't suggest anything underhand. What I do question is how one man can "manage" 6 public companies and why does he need 10 private companies?
My views.
E&OE
consolidation and name change has already happened..
so whats happened to OUR royalty?
so what is the deal here or should i bad deal...i assume all will vote against this ?
Who's going to buy all these new shares?
Same here, I am sitting on huge loss with these and can't even off set this against potential gains i have made elsewhere.
Yeah, as far as I can see, all the money received from cheap sale of assets over the last few years has largely been used to keep the directors' gravy train going.
Thank God I hedged into JLP. Many others not so lucky alas
Subsequently JLP could just up there position, take over 100% for a song and bye bye Royalties and Shareholders ?????
And we get a shockingly low share of any future royalty as it hasn't been protected. Such a shame the majority are insiders across multiple businesses as to be truly in our best interests this company could've remained private and literally banked royalty shares in future and paid out via dividends... it is incredible that Victorian era scams like this actually get the light of day in the 2020s!
Put simply, the notional value of the company prior to suspension was around £6m. Following consolidation the shares are valued at £392k. Truly shocking and interestingly, the relisting price ensures that the existing shareholders no longer have any meaningful vote in the company's future if this goes ahead and the company will be wound up if it doesn't go ahead. Some choice eh?
Bunch of thieving scumbag shysters.
Roman. The dilution isn't from the 30-1 consolidation. It's from the extra shares that will be issued to enable the listing and takeover. The company state in the documentation that the share price has been set at 3.5p for this purpose but also mention a 40% discount to this figure.
So whether or not the loan note conversion (£210k) and fundraising (£1.5m) are at a 40% discount on the 3.5p sp, a further number of anywhere between 50 and 70 million new shares will need to be issued, thus massively diluting the revised 11.2m company shares by more than 6 times.
all money making tools for people like Colin Bird, MA etc. Nothing ever happens and they string everyone along for the ride. Any long term holders here like myself will never recover loses. My CFD been open for years paying daily interest and showing huge loss, not been able to close it because of the suspension.
Still here and shocking, and as bad as BPC - lesson learned and a very expensive one. CEG as it is now is looking to dilute again too. ;@(
If I’m left with just 1-5% of my original investment upon relisting then who am I to say that Alex Borrelli was lying when he said ‘the company has never been in a better position’
Well well if it comes to it! I’d written it off to be honest few quid better than nought.
30:1 ‘Tis but a scratch
Looks like on all BMR shareholders are being screwed over , 30:1 dilution is whats on the cards. Its going to wipe out few thats for certain . No mention of the Royality what so ever .