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.
Yes because thats completely legal pal and Amazon is just going to shut shop and do the same thing :)
Agree
Very different atmso here now, are we really at the end? I don't now and have never seen this as a scam
Would say a definte
No on that one.
R8pilot i think the same there are approx 8 billion shares uaccounted for which could be people who are influencial politically?? Would they get shafted as they are in the same boat as us being shareholders
Excluded!.....you've guessed, I am not a bookie :))
We don't know who the shareholders are in the new Company.
The fact that "we" have not been told is ominous but not necessarily a death sentence.
Can but wait and see but if I was a bookie I would not be offering very good odds on us being included.
GLA
Would I be correct in thinking that if we were left with shares worth nothing that it would be the same case for the vast number of shares that Zaza holds?
------------
No
They hold ALL the shares in "New Co" it is beyond me people think a pair of lying bastards like these two who haven't communicated with holders for two years think they'll miraculously hand over X% of "New Co" to people who hold shares in a liquidated company.
If they are that big then they've probably been invited to the party.
I hope I am wrong and everything pans out. If not we all need to get together and find out what we can do. Probably not legal (that bird has flown I would guess) but certainly lobbying politicians (and governments?) and financial institutions to put protection in place so others are not frauded in this way, if that is how it transpires.
I dont see it like that. So much we don’t know but what we do know (Zaza still fighting and still lobbying) Gives me cause for optimism
I’d be very surprised if there aren’t some big US holders that have had an influence on keeping FRRs lights on !
and that's the truth, once the company we are invested in folds, we have nothing. Some think that means Steve and Zaza lose out too?? Oh No, they have probably done to us what we have been thinking they have been trying to do with Hope and Outrider. They have moved the asset, it still theirs, but we may not be shareholders of where it's gone, they are. You could say, at this very moment in time, it's 50/50. Toss of a coin, Greed is a terrible thing. But hopefully, Zaza will keep to his word and not be a complete and total b*****d.
Nope. You should get a message from your broker though.
But surely that's got to have rns. Something so major
Unfortunately that is the reality
When you put it like that odr that's sound really bad!
quaskimodo: correct: our shares are worth the same as Steve and Zaza's huge holdings. But the Company we (and they) hold shares in is being struck off a week tomorrow, so at that point our shares will cease to exist.
We are clinging to the hope that they do the right thing and give us corresponding shareholdings in the entity that ends up with the asset we invested in.
GLA
Would I be correct in thinking that if we were left with shares worth nothing that it would be the same case for the vast number of shares that Zaza holds?
I would be happy with that
There is still enough that I’ve heard to keep me optimistic. With everyone saying this will be all or nothing it would ironic if we got a shareholder payout equating to our mcap on the day we were suspended. Not sure if I’d be happy with that or not. I think my mental health needs a payout far in excess of that having been subjected to Zaza’s shareholder updates over the past 22 months.
Feeling of exhaustion on the board now. Liquidation approaching and we are clinging onto the hope that Zaza and Steve will take us with them through whatever legal escape hatch they are planning to jump through. FRC are still paying for lobbying services in the US so they still believe they need political support. Fingers crossed for a miracle and shareholder solidarity from our directors. GLA
Steve Nicandros is not short of money
Money still coming from somewhere.
US$80K has been paid to Cornerstone for Q3 2020, making a total of US$240K for the year to date.
https://disclosurespreview.house.gov/ld/ldxmlrelease/2020/Q3/301224408.xml