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750k
I very much doubt you will see anything. Sorry to all here and hope i am wrong.
519,311 😫
So before I come clean to my wife, do we think there is a glimmer of hope that we'll be getting anything back at all? Or is our money long gone?
Action due Prejudicial conduct for minority shareholders Sale of asset directly controlled by group Sale procedure not advised ( offer arrived 27th feb two RNS on that day talked about court result). Closed bid Minority shareholders representing 8 % of share capital could call EGM. Block German court approval of "mandatory " board decision " Not informed minority of important aspects - Large individual holders selling shares pre suspension . Take your pick Sharehioder group need advice though on what constitutes prejudice and additionally what an how to effect a halt to both the German court (acquisition approval - or at least if the percentage held is big enough as a group to require approval ) and the separate british insolvency process Thoughts anyone ? Appetite for it? Ultimately the outcome i would aim for is .15pnper share net proceeds of insolvency available to distribute to shareholders ( value at suspension). Last financials suggested .7m cash in group. But in haven't looked at OPEx and we don't know debt or its write off or if it's settled to allow sale of GmbH
I thought he sold out? in hindsight it should have been the initial warning sign to other shareholders but some got hook winked by stories of massive contracts in the works... lesson learnt? Wait for actual RNSs not vague rumours pro or against your investment(s)
131,154 Not much but wouldn't mind my money back...
430,000
SolarNext has been sold bit by bit to the Directors and Mr Gunn.... they should have asked for shareholder approval for the last 26% ....but circumstances overtook events. SolarNext is in private hands.
1.1million :(
comfortably travelling just now - I guess this started with shareholders having iissues with specific for what has happend need to take advice on how this is communicated to the board and methodology. there have been toher "action groups" for shares in AIM companies in the past - if anyone knows any that are active , they would be the best steer. need to check the country juisdiction - too.
Count me in 449536
my shares
631,253k james
Million xx
any more out there...
My small contribution
.
Add my 829K
Halfway there Anyone had a chance to look at minority shareholders required level? Mas You must have a few - gone a bit silent there
count me in
1.8 Million
I have 1.2 million towards the group.
If solar next is group owned it is an asset - i suspect that can't be disposed off without agreement of the insolvency practitioner. Its only value though seems to be IP. Hightex group has no revenue ( according to the RNS) but it could have IP that could be valued and sold. Given that situation it does not mean its insolvent per se - as if there are no costs ( and now no debt - a skim of the last few RNSs ( and I might be wrong) would suggest all debt sits in subsid being sold.. If there has been a deal - say make company insolvent and take the IP perhaps to a russian Eco business that intends to utilise it.. That would seem to be a tad naughty. I would also question whether a group assett could be wrapped into a subsidiary sale without some value of transaction being applied and therefore some value being retained in group - don't get me wrong though, that's complicated and to detailed - minority shareholders are better focusing on the big picture first if they want to influence, take action or halt a sale - and that needs clarity on how much of the minority the law requires to collectively take any action. Too little and the board are entitled to make any decisions for them. Secondly as you say its possible hightex group has no ownership of solar next and it is now privately owned - maybe even by the current board. It would need to show up in the balance sheet somewhere though. Incidentally I only bought in here in a small punt that went well- but I so not like minority shareholders getting shafted if that has happened . So I haven't got the whole picture and history yet.
It does rely on whether there is a basis in law to challenge any actions by the board though. Would need to understand that from someone with a legal background - group and subsid , disposal assets and rights as minority shareholders If there is legal recourse then Someone could fire off an email advising that a quantum ( we need a number ) of minority shareholders intend to take X action ( x being related to protection of rights and value and ensuring due process has been conducted without prejudice) again this will need a degree of legal steer. So as a quick starter - we are up to 3.5 million .. Any advance.