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Sending a message now to CC at EVE Sleep gets this reply:-
I no longer work at eve sleep. if you'd still like to get hold if me,
you can reach me at cheryl@itsnotvoodoo.co.uk or through LinkedIn or
Twitter.
Thanks
Cheryl.
--
*Cheryl Calverley*
*CEO *
*0790 5471546*
Has anybody asked EVE another question?
To explain the spending of last 2 years taking the business from 8.5 million cash plus stock plus assets ( probably over 10 million) and have the overview of an experienced bod that could not see the trajectory of the management decisions was depleting cash to zero and moreover taking on some debt too?
I wonder, if there is going to be anything left for us after the creditors are paid.
Has anybody asked Eve this question?
Holly the loss needs to be realised before it can be utilised. Currently shares suspended which isn't a disposal event. Capital losses can only be used to offset future capital gains, you can't use these against your income tax bill for example. Pretty much useless unless you will have gains outside of isa in the future.
I’ll add one more thing.
These losses can go forward indefinitely and be offset against gains from other shares.
This was my only investment outside of my ISA or pension.
Does that mean I can claim tax relief based on this loss, through my self assessment / capital gains?
So c. 40% claim?
Do I have to wait for administration to end?
Hopefully useful to other holders too.
.. a journalist investigating EVE sleeps management this past 2 years and the suspicions administration and buy on same day by Bensons. This stinks!
sp basically we not getting nothing at all
CDF1 - unless you buy shares at IPO, or through some form of placing or rights issue, you aren't funding the company.
Whilst you own a chunk of it, it's the person you bought the share off who you have funded.
So my understanding is if they go in admin be bought out we can’t get anything
I honestly think you have Yan. We all have historically in fact whether exiting unscathed or not. The same BS was fed to everyone through the narrative.
I’m not sure you would get anywhere complaining. Personally I’d be trying to make life as uncomfortable as possible for them. It would just make me feel better to kick back so it would be worth it to me.
Depends on characters of course, better for some peoples mentality to just learn and lesson and walk away.
The sooner it’s accepted the sooner it passes at end of day.
That’s all folks, hope to see you elsewhere on another stocks making money or at least losing fair n square
Similar thing happened with McColls earlier this year, offer came in from Morrisons and was rejected, then Asda boys offered, company went into Admin and guess what Morrisons took them over, that stink'd to high heaven !
AND SO DOES THIS ..
Nothing protects the shareholder, ultimately the funding source, we are used and thrown away like a old pair of slippers !!!!!!!!!!!!!!!!
DGU/Jack, we have been stitched up here, obviously when you look at RNSs and webinars, but I don’t believe there is anything we can do down the legal route.
I saw another stock stock on AIM that has gone through a similar situation that crashed the SP (not admin though) where an attempt was made to take them to court by a group of around 20m people, but nothing came of it.
If it was in the US it will be a different story, take a look at Argo Blockchain which also trades in the US. They tire under class action lawsuit now, look at the RNSs.
Yanis - it sort of looks like EVE has been stolen from its shareholders owners without any consultation with them whatsoever.
Bensons now plan to have EVE up and running shortly so they can realise EVEs full potential - what had the experienced bod led by CC and TP being doing these past 2 years - apart from putting together very positive shareholders presentations that to me now look extremely misleading!
Yan I was doing some research on arb when it crashed to 12p (didn’t buy any) but I did notice a firm that was posting on the thread accusing arb of misleading investors with claims made in rns?
Maybe that firm would like to know about eve (park the ambulance right outside the office conveniently for them).
Might be clutching at straw but what’s to lose now?
There must be law firms out there looking for these kind of cases. They could go to town on eve’s rns I reckon.
Any money leftover will be used to pay fat redundancies packages and goodbye parties... and not to shareholders. The board did not really care about the "greedy" shareholders, besides they will prioritise setting a side any refunding of any customers, warranties and their suppliers. As well as paying any creditors. After all this, there will be nothing left for shareholders. Benson obviously didn't pay much which is why it wasn't disclosed either and they left it to last minute after admin to get a good deal. It's been a wild ride on this board. Thanks all for being on the journey together although a car crash definitely a lesson for me in particular wanna thank Wyn, Geeman and others I've missed for their valued contribution to the board. GL to you all.
Geeman, I agree with your assessment on Bensons buying Eve, but the whole process of how we got to admin stinks.
Jackbal makes a couple of points in the post below that are encouraging shareholders to hold.. If that was in the US there would be a class action lawsuit over this.
Add the below encouraging tweets made just a week ago on 11 October. How can it go from that to admin a week later? Hard to justify.
https://twitter.com/eve_sleep/status/1579856610096484353?s=46&t=hKlZqzWTYfXIvbpitr8fOg
https://twitter.com/eve_sleep/status/1579859789542146048?s=46&t=hKlZqzWTYfXIvbpitr8fOg
And, if last JUne they “eve has now essentially completed the three year rebuild strategy, aimed at positioning the business for sustained growth across all of its geographic and product markets” (copied from Jack’s post below), why on earth didn’t they call an EGM, get permission to issue shares and place to get a few more £million to get to the finish line?
If anyone does decide to get some proper answers it’s worth noting certain claims made by this lot formally in rns.
The FSP RNS on 06.06.2022 says in black and white
“eve has now essentially completed the three year rebuild strategy, aimed at positioning the business for sustained growth across all of its geographic and product markets”
So they are basically saying they have essentially done what they set out to do. Did they set out to position the company on the verge of admin? Because it was months away (after apparently “choosing to make losses”.
She can’t even now try spin if that things went downhill very fast and spun out of control because her later trading update on 21.07.22 states
“There are some signs of recovery in recent months”
Wish I kept a single share so I could make a nuisance of myself. I know BS when I smell it
Hi Yanis, sorry for not directing at you :) Was a general post in answer to the Q you posed.
Certainly, Bensons acted quickly on Monday. I can only imagine how it works. Phone calls from eve / finnCap to the end of last week saying 'now or never for a T/O while still trading' and the answer from Bensons: 'really sorry but we are 100% not going to buy before Admin, but maybe we'll think again then' and 'don't worry about us if you get a better offer' – which of course was not forthcoming.
Then a few calls on Monday saying 'we will pay £X today to take it off your hands, unless you have a better offer than £X in place??'
And fincapp / eve / Administrators knowing there wasn't a better offer..
It's a tough world I know. I think people expected a white night right up to the end as the SP was still higher than when I departed.
Do you have other investments that could make good your loss in eve?
Their website:-
Hi there. We are going through a few changes at the moment. We’ll be back on-line soon, so please bear with us!
If you have any questions about orders placed prior to 17/10/2022 please email es@kroll.com
If you’re looking to find out more about our amazing products or place an order you can send us a message using this link and we’ll get back to you ASAP:
We will see absolutely nothing !!
Something needs to change to protect the shareholders they way it protects everyone else during a takeover/buyout, there is far too much of this going on for my liking !!
Onwards and upwards again ..
Geeman, … mate,
Probably true, Bensons got the info during the FSP, but the speed with which Bensons moved does leave a bit of a sour taste?
btw, we been here long enough to kind of “know” each other? You could use my name when you are addressing me - I will not be offended.
' when did Benson get all the info from to enable them to move that fast?'
They would have had all the access to the info they needed during the FSP. They had months to look at the books, as did anyone else who was (possibly) serious.
DX (eve's courier) have had their shares reinstated on AIM this morning.
https://www.lse.co.uk/ShareChat.asp?ShareTicker=DX.&share=Dx-Plc
Wildstag, you make a valid point - when did Benson get all the info from to enable them to move that fast? It stinks.
There maybe a case there to contact the FCA. Getting solicitors in, personally I don’t think is an option - we are at the bottom of the feeding chain and solicitors are expensive. There is probably not enough money left in the kiddy to pay creditors, pay the administrators and then pay the solicitors and have enough left for us.
Our only hope is getting some cash from what Benson paid but what do I know?.
Obviously the benson deal was agreed before administration there is no way on earth a company goes into admin in the morning and then bought in the afternoon. Bensons would of needed information packages sent over ref accounts and debts etc…..alone this would take days to mull over , meetings,accounts,solicitors involved.
This was all agreed prior to admin so I think those with now worthless shares might be getting solicitors involved and posting soon,