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.
o/t for dan goodluck, RT didn't say that he gave those shares away. he sold them. qpe tweet"....Friends and Family acquired large portion of Shares sold.."
of the various difficulties facing those who try to follow this company, is that the company has never actually stated what the extent of its funding shortfall is. without any clear statement to that effect, & in the continuing absence of properly audited accounts, the size of the hole remains unknown.
clock said, "The placing didn't proceed as they raised the funding off market.." then as evidence, clock cites the RNS of 17th nov, where the company said it raised money though CLNs. but that is the exact same RNS which still says that the company is **trying to arrange a placing**. "the Company continues to work on the finalisation of a placing to provide additional working capital for the Company, which it expects to announce shortly." couldn't be clearer, could it?
key words: " .... Company's shares remain suspended from trading on AIM pending finalisation of a funding package.." - that 'finalisation' never happened.
you are missing the point, still. yes, the company issued an RNS on 17/11 saying that they had raised money through convertible loan notes. BUT that *same* RNS also went on to say: "the Company continues to work on the finalisation of a placing to provide additional working capital for the Company, which it expects to announce shortly." (they never did announce that, shortly or otherwise, did they?) -- in other words, they still needed more money, even after the CLNs. and then later, on 21st December, RNS said: "Whilst the Company's shares remain suspended from trading on AIM pending finalisation of a funding package to allow it to publish its Annual Accounts to 31 March 2015 in accordance with AIM Rule 19, in accordance with AIM Rule 1" -- in other words, they still needed more money ... even with the money from the CLNs, they were still unable to publish accounts. ... other than the £1000 payment to trigger bond conversion on 24th december, the company has *not* announced any other successful fund raise since the CLNs on 17th november.
"clock might think it's misleading to 'cherry-pick' sections from an RNS. but seems way more dodgy to me to make up info that is not in any RNS." Yes I do think it's misleading cherry picking from RNS as suits agenda, and that funding information was in the public realm?
"Epsilon Investments pte Limited ("EIL") has been issued with a Bond to the value of £350,000. In respect of the Bond, £349,000 has been received and upon payment of a further £1,000 the bondholder has the right to subscribe for 23,333,333 ordinary shares. In addition, EIL has been granted a warrant to subscribe for 10,000,000 new ordinary shares in Daniel Stewart at an exercise price of 1.5p at any time in the next three years. EIL currently holds 29.3% of the issued share capital of Daniel Stewart and conversion of the Bond and exercise of the warrant by EIL will be undertaken subject to the requirements of the FCA rules and all other applicable regulations. Kilamanjiro Private Capital PTE Limited ("KPC") has been issued by the Company with a Bond to the value of £300,000, of which £299,000 has been received by the Company and which, upon payment of a further £1,000, the bondholder has the right to subscribe for 20,000,000 ordinary shares. In addition, KPC has been granted a warrant to subscribe for 8,751,428 new ordinary shares in Daniel Stewart at an exercise price of 1.5p at any time in the next three years"
missing accounts, still. how can investors know what they are actually buying into with this company when it does not release very overdue audited accounts, with no adequate explanation? if they have raised the funding that they need, why have they still not produced the accounts? previously, they said that the delay was because of the need to finalise "a funding package". if it has indeed been finalised, as clock would have the bb believe (.. there is no RNS to support that..) why still no accounts to march '15? this company is delisted, so the bulletin board will in any case disappear from lse soon. no great loss. but these matters remain unresolved, with no real attempt from DAN to explain.
clock might think it's misleading to 'cherry-pick' sections from an RNS. but seems way more dodgy to me to make up info that is not in any RNS.
"RNS history. they have had major problems raising cash. e.g:" If you actually read the RNS in context there wasn't an issue raising cash as they were offered the total amount from several HNW investors, it was the finalisation of the last placing and issues with the NOMAD that caused delay.
The actual quotation from the RNS stated : "Peter Shea, Chief Executive commented: "Although the decision has been somewhat taken out of our hands, becoming an unquoted company will give us time to put in place the right operational and financial structures while we determine the optimal listing status." It's a little misleading to cherry pick sections from an RNS to suit your argument.
what a bizarre investment rationale. ... you think the company itself "..has nothing..", but nonetheless you still hold shares here because there is money in DAN from rob terry & two recently established singapore based holdings companies, with no known track record & no information about who is actually behind them & what they are up to. - might as well just put it on some nag at the derby? still, lady luck loves a gambler. good luck, goodluckall.
perhaps i should rephrase slightly ... they actually took until mid november to admit that (pretty slow?) but the failed placing referred to was almost four months ago.
clock's 18:20 post referenced a placing at 3.5p as some evidence that DAN hasn't had problems raising cash. but it's now been almost *four months* since DAN admitted failing to get a placing away at the much lower price of 1.5 pence. that specific price is mentioned in the RNS of 17th November: "The Company announces that as part of a placing the Company was intending to undertake in conjunction with the release of its annual accounts for the year ended 31 March 2015, on 30 September 2015 the Company received a payment of £25,000 for 1,666,666 new ordinary shares at a price of 1.5p per share ("Shares") from a market counterparty ("Allottee") which were credited into the CREST system as at that date. The placing did not proceed at that stage. It has not been possible for the Allotee to return the shares. It is intended that these shares will form part of the forthcoming placing..."
all part of their plan? lol! RNS 15th Jan: "Peter Shea, Chief Executive commented: "Although the decision has been somewhat taken out of our hands..."
just review the RNS history. they have had major problems raising cash. e.g: RNS 17th Nov: "The Company continues to work on the finalisation of a placing to provide additional working capital for the Company, which it expects to announce shortly." nope, they didn't manage to do that. RNS 21st Dec: "Whilst the Company's shares remain suspended from trading on AIM pending finalisation of a funding package to allow it to publish its Annual Accounts to 31 March 2015 in accordance with AIM Rule 19..." nope, they didn't manage to do that.
"Companies never want to delist as you can't easily raise cash anymore. So to suggest it's a bigger plan is ludicrous IMO" Errr... but they havent had any problems raising cash? Placing at 3.5p and several HNW backers after that.
Im not a holder here but thought I would share my experience with you of a share I held which was delisted, Namkawa Diamonds, delisted about 2 years ago at circa 1.6p , shares were trading after on Britdaq at circa 0.4p , I thought I had lost £20k but now a merger has happened and our shares purchased for 4p (my average was 2p) plus we have some shares in the new company. Delisting not always bad
I think this is the issue you need to realise. Rob terry will do the best for them not you. They will take the company private and screw you in the process. Delisting is as good as you losing it all. It really is disastrous, sorry to be the bearer of bad news but plan b's etc dont exist. Companies never want to delist as you can't easily raise cash anymore. So to suggest it's a bigger plan is ludicrous IMO.
Friday 22 January, 2016 AIM Cancellation - Daniel Stewart Securities plc RNS Number : 6267M AIM 22 January 2016 NOTICE 22/01/2016 7:00am NOTICE OF CANCELLATION OF ADMISSION TO TRADING ON AIM DANIEL STEWART SECURITIES PLC Trading on AIM for the under-mentioned securities has been cancelled from 22/01/2016 7:00am pursuant to AIM Rule 1. ORDINARY SHARES OF 0.25P EACH, FULLY PAID (0460284)(GB0004602842) If you have any queries or require further information, please contact the London Stock Exchange on 020 7797 4154. *** so long, farewell, auf wiedersehen, goodbye.
rampy, unfounded nonsense.
I suspect that the delisting here could, in a perverse way, actually be good for this share. I understand that this share was being shorted whilst it was trading on AIM and that was probably a significant cause of the decline in the price here from 4p+ to 1.7p. Indeed, Rob Terry wrote in his blog that one of the key reasons that he wanted the share to come off AIM was to avoid the shorting. Around mid-2015, he stated with a high degree of confidence that the fair value of DAN was 4p – 4.5p having done research into the firm and having had constructive meetings with management and, as per the RNS on 15 January, the company’s prospects are strengthening significantly with a growing pipeline, new areas of strength and new clients. The company raised new funds at 3.35p and Rob Terry sold some of his investment recently at 3.35p off market. If people are happy to pay 3.35p when the shares are trading at 1.7p this clearly suggests significant value. Whilst he has sold most of his stake in IMTK, he is increasing his stake as much as possible off market, recently upping his stake twice. RT is no fool and everything here seems to point to significant future price rises, especially given that he stated that DAN would move into profit in 2016 and comfortably be valued at 4-4.5p on normal market metrics. Being off market should also allow M&A to proceed more quickly. Being off-market could also lead to this share moving towards fair value more quickly, whilst the shorters will probably want to close out. I would guess that without the shorters this would probably now be around say 3p or so and may even have returned to 4p+. After M&A and a relisting RT suggested that 10p is fair value. When trading opens again (not sure when that would be) it would not be a surprise if this rose to say 2p to 3p. If I could buy any in that range when it is trading again I would think that would probably be pretty good value, with a target of say 10p in two years. Just my thoughts.
Wait a little longer to trade on the open market... By a little longer do you mean "shortly"... Just like the accounts being submitted shortly?!
Got a letter from Halifax stating can't hold in an ISA,so they have moved them to an ordinary share dealing account,but I am unable to trade them. They were suspended for ages and delisted 6th Jan 2016.I do believe you can have them in certificate form and trade them if you can find a suitable broker !
That's exactly what happened with my PRG shares!! ive never held 2 delisted companies before !!