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Its all smiles on the website and all Bol*ocks in the Reports but Ethics at this level is all window dressing.
So the question i still have is, who asked Jonathan Miller to go? and why did he go accepting only £0.5M when his share holding was so large?
Sorry... i have moved on.... honestly! ( ONLY HALF A MILLION.... BARSTEWARD!!! Grrrrrrr )
I would only consider myself liable for company debt if I was a signatory on the debt agreement. It is very unlikely that an ordinary shareholder would ever have to pay for a company’s debt.
I would, however, take issue with what has happened here. Morrisons have benefitted from money raised by shareholders to refurbish/rebrand McColls stores. Although this is almost certainly legal, it’s highly unethical. Anyone that took part in that fundraising in good faith deserves much better.
As a shareholder, do you believe you are liable for any debts the company has incurred?
why could the 2021 accounts not be published. 2021 has finished ages ago so the results should have been published. withholding that information could be seen as unfair against the shareholder.
the RNS stating they don't know why the share price has gone up looks odd and could also be seen as unfair against the shareholder
then there are the various "ongoing talks" and information around the deals which we knew little about, again, this could be seen as unfair against the shareholder
the capital raise by placing last year. suppose to be to advance the rollout of the Morrisons daily stores. but ultimately at what cost to the shareholder?
if nothing is going to be given back then it looks suspicious in my opinion.
*so
we are still shareholders and the company is still trading. apparently we can't have our shares listed back on the stock market. I thought the suspension was temporary having read the last few RNS's. if they're not going to re-list hi that we can trade then they should settle by other means.
I reduced my holding by that point as it looked like the company was about to fall into administration. a few days later sky news reported a last gasp proposal that would save the company from collapse. the price indeed rocketed that morning then very suddenly the company was suspended which contradicted what sky news said. McColl's is still trading. this looks like defrauding of shareholders given that nothing is being talked of in the way of return to shareholders. it's not acceptable to defraud people and I think the conduct of all parties needs to be looked at because alot of people are out of pocket.
1887
IF you could find a barrister to take the case I for one would be prepared to chip in, the way we have been treated absolutely stinks!
On 3rd May Mccoll’s did warn share suspension was likely. At that point there was an opportunity to heed the warning and sell or gamble on this not happening and SP rocketing. Sadly for those who gambled the gamble never paid off. Good luck in future investments I hope you recoup your loses soon.
all shareholders should get a return on their investment. the company is still trading albeit under a different guise and it looks as though the whole thing was planned well in advance. in the absence of any forthcoming news to mitigate the interests of shareholders my patience is about to expire. it feels like we've all been played / strung along and it's time to turn the tables round and do something about it.
This does sound very shady indeed. A shareholder revolt I sense is on the horizon and with the cost of living crisis, every penny counts...
Lying down and taking it might be what they, the likes of Morissons expect from McColl's shareholders, I doubt many whom are invested heavily in the company will accept that and no doubt are planning their next move.
correct or not I don't know, but I believe I have rights in the estate of the McColl's company and brand, as with all the other shareholders. until such time that this is settled I won't change my belief. if nothing happens soon to settle my perceived interest (whether rightly or wrongly) in the company and its estate then I am considering pursuing this through the legal channels.
It is expected that McColl’s will be delisted from the London Stock Exchange shortly. This will not affect a shareholding as such and shareholders will continue to own the shares. The shares will not be permitted to trade on the exchange.
https://www.pwc.co.uk/services/business-restructuring/administrations/mccolls/shareholders.html
I think for NOW the name 'McColls' will remain, BUT in time there will be a rebranding that will include 'Morrisons'.
They are worthless now as not able to trade, but they will be officially worthless once they decide how to mug us off again without any further comeback !!
ALL of them need investigating it's a total disgrace.
I dont know if you could call it interesting, but for want of another word, I find it interesting that the McColl's brand seems to be separate from the Morrisons daily brand. what's the score here - Morrisons daily for some shops, but McColl's for others, like two separate businesses. also the actual shares that we still own, they are / were shares in McColl's. we've had no say in any of this and it's all been pushed forward regardless. I don't know what to make of it all. it doesn't seem right though. I don't understand how you can be left with a load of shares that appear to account for nothing when the company is still going forwards at pace.
1887
Their certainly putting what was left of the fund raising to good use !
the rebranding of McColl's
https://our-design-agency.com/work/mccolls
I dont follow how the business can be sold without shareholders having any say in it. to not get anything back aswell is a double p--- take.
Did my first full weekly shop at 'Asda' today, would or normally been 'Morrisons'.
Can't see me reverting back the choice at 'Asda' is far superior :-)
That's just over £80 they would of got, alas not anymore!
I've been in business since 2009 and still have the same loyal customers, reason being is that I look after mine :-)
You've been very shortsighted selling us down the river 'Morrisons and 'McColls' !