Firering Strategic Minerals: From explorer to producer. Watch the video here.
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you lost 10K? :(
As the titles says, am I still able to sell my shares, or should I just wave bye bye?
There were a number of posters on the CLLN board who were in your position. They had to fight for it but they got it in the end i think. You might want to find out when CLLN collapsed and read the posts after it.
No. Cos in effect it wad SPDs 150M that has been lost, not MAs,
So it is a bit more smoke and mirrors. IMO. DYOR
You may not get it.
Most of the times you don’t get to choose the t&c of brokers agreements. You have to accept their standard t&c in order to have an account.
The problem with shorting is that people who short shares usually do it at times of high volatility and bad news, as they are more knowledgeable than regular buy and hold investors. This is why shorting x amount of shares can cause the price to go down 5% while closing the short trade once volatility has settled down can result in a price increase of only 1%. This creates a net negative effect on the SP even after the short trade has been closed, only because of the timing of the execution. If shorting was not allowed, there wouldn’t be big crushes at every negative RNS and share prices would be less volatile, which would help troubled companies but would disadvantage day traders and brokers.
if you sold the shares a day before delisting, how long does it take for the money to come in?
on average.
"The company said the buyback was to thank shareholders after the tussle over Debenhams."
This a joke, right ?
SPD will be writing off £150m and you say he is going to do a £15m buy back " to thank" shareholders
MA has spent this week deflecting the fact that £150m has gone down the plug hole
"Sports Direct said it will purchase 5m of its own shares in a bid to boost its market value"
This is some script from stand-up comedy...right?
On the 4th of April i asked for tips for a new gamble. Applegarth recommended PSL and i invested on the 8th (4 days ago). I have made 110% profit since then and understand PSL is still northbound next week. This is what we should do for one another and what lacks in the world. I had termed PSL a gift from the gods but now i change it to a gift from the gods via Applgarth.
I salute you Applegarth.
COURT has taken it as legal, because Mike Ashley withdrew it,
Mike Ashley single handed robbed all shareholders, in criminal partnership with Board of Directors.The one(NED) went on sick did not want to be part of it
I disagree.
Amongst many other reasons, shareholders receive a borrowing fee to compensate them for the share being loaned out (and in your broker terms, you will have agreed to allow it to be lent. you can opt out with many brokers). Let's say a bunch of people short a company for no reason (and the earnings are actually great), forcing the price lower. Number 1, those that lent out shares are compensated through borrow rates. Number 2, it creates a huge arbitrage opportunity for people (even traders) to buy the stock as the earnings support a higher share price. They should then buy the share and force the price back up.
“Surely no one to complain to than yourself? There was ample time to sell out. No?
I warned everyone before Xmas for example.”
The share price was already worthless before Xmas (4p). Those who bought at 40p already lost 90% of their investment, so there was nothing left to salvage.
No we didnt all lose. Many won remember!
Ps there was a reason they were a penny share!
“There are so many reasons why this is waaaaaaay off the mark. Maybe when I get to my desk I’ll type them out, but I want you to think really hard as to whether you think shorting actually caused DEBs to go into Admin. I mean really think about it.”
No, I do not think shorting caused DEBs to go into Admin. I think the criminal collusion/incompetence of the BOD caused Deb to go into Admin, not shorting.
However, I still think shorting is bad for shareholders and can have a negative effect on the SP which gives less financing options for companies with legit BODs. This is why it should not be allowed. Custodians should not be able to use the shares they keep in custody against the interest of the share owners. It is about conflict of interest.
As for DEBs, with the BOD they have there was no other possible outcome. When a company is being deliberately destroyed so it will be handed over to the lenders, nothing will save it.
Surely no one to complain to than yourself? There was ample time to sell out. No?
I warned everyone before Xmas for example.
Have a good weekend and remember more to life than shares - there is enjoying it with friends and family for example. Enjoy.
LongerShorter you couldn't be more wrong. You're trying to make the argument that (i) the bid was a likely outcome and at 3p the risk/reward was good and therefore (ii) faced with a large number of these trades, you'd win on average.
This is plain nonsense. Every fact in this case pointed to this outcome as the most likely, with a bid being very unlikely. I most certainly did not give the wrong advice. I gave the right advice which was to sell. I gave the same advice with Interserve and what happened? Same result.
Don't try and dupe yourself into thinking this was just an unlucky trade. This was a clear 0 (or at the very least, a near-0 in the case of a dilutive rights issue). We outlined exactly why based on facts and logic, and that ended up being the result.
Eh?
He's just buying them back because the share price has fallen so much.
Make no mistake, DEBs shareholders will not be compensated. Meta is spot on. There wouldn't be a debt market if it didn't work like this. And to people saying that they didn't expect it to be de-listed so quickly, Meta and I were telling people that April 8 was the deadline for so long. And yet, Applegarth was (and still is) on here harping on about the 22nd, waiting for a bid that was never coming. I'm sorry that this happened to you guys, but this is the risk in what you do here. Some of us could see what was coming and tried to communicate why that was. Again, hardly anybody listened.
I hope that some people did and got out before it was too late.
Mike Ashley launched a fresh attack on Debenhams as his firm Sports Direct unveiled plans to buy £15million of shares back off investors.
Just days after failing to seize control of Debenhams, Sports Direct said it will purchase 5m of its own shares in a bid to boost its market value.
The company said the buyback was to thank shareholders after the tussle over Debenhams.
I want my money back....don't give up until the fat man sings.
reposted -
Takeover Code Rule 21(1)
21.1 WHEN SHAREHOLDERS’ CONSENT IS REQUIRED
(a) During the course of an offer, or even before the date of the offer if
the board of the offeree company has reason to believe that a bona fide
offer might be imminent, the board must not, without the approval of the
shareholders in general meeting, take any action which may result in
any offer or bona fide possible offer being frustrated or in shareholders
being denied the opportunity to decide on its merits, or:
(i) issue any shares or transfer or sell, or agree to transfer or sell,
any shares out of treasury or effect any redemption or purchase by
the company of its own shares;
(ii) issue or grant options in respect of any unissued shares;
(iii) create or issue, or permit the creation or issue of, any securities
carrying rights of conversion into or subscription for shares;
(iv) sell, dispose of or acquire, or agree to sell, dispose of or
acquire, assets of a material amount; or
(v) enter into contracts otherwise than in the ordinary courseof
business.
(b) The Panel must be consulted in advance if there is any doubt as to
whether any proposed action may fall within Rule 21.1(a).
...
http://www.thetakeoverpanel.org.uk/wp-content/uploads/2008/11/code.pdf?v=1Apr2019
The deadline of 8th April was moved to April22nd...this new deadline was the sting as MA was (possibly) going to bid again. They moved against the rules of article 2.8 that prevents any company going into administration while offers are on the table. MA, like us was 'fooled' into believing we had until April22nd for him or others to make further bids. Believing we had a new deadline, who knows what bid or deal MA may have come up with. Moving the goalposts is NOT cricket.............
IF the LAW COURTS don't see through this scam, which was obviously predetermined for a quick sale in administration, immediately his offer was refused......then f/uc k British law. NOW I KNOW why bad court decisions are taken to Strasburg?
Rule 2.8 mergers and takeovers says that while formal or hostile bids are ongoing they cannot go into administration. Neither can they sell to a third party without a formal bid be made and SH approval, Also when a deadline has been notified to shareholders (ie extension to April 22nd) this deadline must be kept if a bid is refused and for the purpose of another bid or bids be made.
This BOD have broken every rule in the book, drawing in investors under the premise of setting a new deadline, then reneging on it and furthermore, the new deadline of April 22nd was issued in the RNS yesterday. They also conspired to get a 200m loan for the sole purpose for the lenders to take control and prevent any further bids from being executed
MA should take this to every high court in the land even in the US and get full compensation for SD and SH's
This is all to benefit SPD, Debs is finished. MA is just saving face and putting a PR spin to his failing of taking over Debs. I kept stating Afren as I got stung with that before and the same rhetoric was mentioned, it was in pounds before and will go back up once it's sorted out, that never happened and the company went under. The same with Debs it was at one point 75p and now 1p-2p, there's a reason why a company has fallen back so much, it's on its way out.
at a rate of 1 SPD for every 60 or 75 DEB
Recompense would be in SPD shares imo.
This has happened before and is normal. The administrators will finally get around to the stock trade settlements and approve the CREST transactions. Equiniti will then get the funds and release them to you. It took a couple of months last time this happened. There is no reason why you wont get your money.