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.
Any of the existing major shareholders will have to notify via TR-1 if they increase/decrease.. i.e. Lombard Odier, Polar and Richard Griffiths. Some of the large trades today could be one of them... we'll find out tomorrow via RNS..
Also.. I wonder why Astra or Sanofi just don't buy the whole thing down here..
I think the TR-1 major holding updates will be after it’s gone private but they probably won’t have to announce anything when it’s not a public company anymore. Not sure how it works
Wonder if we’ll see any TR-1 major holding updates?
Huge buys going through at the moment. Presumably to make sure the vote goes through.
Yes, much more economical (for C4X) to do this & allow Polar, II’s etc to buy up PI shares at 7p than do a (fairer) premium tender offer at 12-15p.. then in a few months any remaining PI’s will one morning receive an email saying 750m new shares have been issued at 5p to a new VC and cornerstone investors (polar etc)… no chance to participate.. now 1bn shares free float and you have been diluted 4x
I’ve got to admit it’s a risk holding unlisted shares and the questions, (Why now? Will PIs be shafted via dilution?) are hard to ignore. Just can’t help feeling they’ve done it now because there is an exit around the corner and they are hoping PIs panic and dump the shares before they go unlisted so that others in the know can mop them up on the cheap, hence why I was considering buying. Very cynical thinking. If they drop to 5p or less I might have a punt but otherwise will probably leave this one alone.
No no - i’m firmly in the “shoulda woulda coulda camp” but tends to happen when a stock gaps down 50% .. fortunately I only had £10k in but still frustrating.. they have £20m cash so unsure why they chose now to dump the SP.. especially without a tender offer..
You seem very informed. I take it you’re no longer a shareholder as you wouldn’t want to be exposed to that.
Nope.. they'll just accept £25m from a new VC for half the business.. they may let existing II's participate on similar terms but PI's will not have an opportunity to participate..
Surely new IIs would replace existing IIs and if this amounted to a change in control of the company the minority shareholders could get same price on a non- discounted basis under drag & tag provisions assuming new articles provide for this. Let’s face it, until now it’s been ages since anyone got in at 8p a share and the existing II shareholders would want out at a better price than that, more reflective of the true value, which 8p a share isn’t, hence one of the stated reasons for delisting
Perhaps, but the more likely scenario is the current minority shareholders will be diluted 20x by the new private investors.
LOL, it’s not the board that’s the problem, it’s the AIM market. I was a shareholder until January 2024 when I took profit on the AZ milestone news. If I get a chance I will be back in before it delists. The company is significantly undervalued on AIM IMO and will do better as a private company. You’ll not be able to trade the shares (other than under the Matched Bargain Facility) for 12 months, but with patience the true crystallisation value will be on a future exit and IMO this will be several multiples of the current value. I don’t normally like to hold shares in unlisted companies but this one may be an exception.
The Board should resign. Stock down 50% since their decision to delist. Value destruction for shareholders.