Watch LIVE the focusIR May Investor webinar with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund 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.
NT to buy any amount, probably large orders are being filled, game on!
Since I do understand the disappointment that this will cause and which I wholeheartedly share, whilst making no commitment to do so, I do not rule out in the fullness of time and subject to de-listing and on becoming a private company making proposals to buy the shares of certain of those holders who either do not wish or are unable to be invested in a private business.
I get the sense , but have no evidence that things will be getting soon wrt Argentina - therefore lots of upside as that bad news is priced in. Meanwhile ceo has lost more than us, I am only down 30k ffs!
In similar situation
£500k market cap and ££mlns in net assets here
CPX style rise possible
Ceo trying to pull a fast one
Wont get approval
Punt
What a week for the AIM, CX4D and MEN are delisting, RBG probably will be in admin. The huge spread here is putting people off buying, so the company will make sure it is going to be delisted from AIM, what a corrupted management! People holding shares here should come together to vote against, don't see much point selling now.
Vote against, he steps down and there goes your stake in Atom
I hope the authorities have there eye on this one ... The assets are in the millions. I think the AIM should look at it. The market needs to know more about what's going on here. Sad day for pis and AIM.
We will get more for our money if we stay public. Atome will reach offtake agreement and FID in not too distant future. This reminds me of the Argentine asset sale rushed through before elections which low and behold would have let to a significant increase in value.
Paraphrased extracts from today’s announcement:
1. “The company’s interests are best served by turning to the private arena where MEN can regenerate away from the microscope and constraints of the public markets yet avail itself of funding and exit opportunities.”
I ABSOLUTELY AGREE.
2. “My consideration in this direction reflects my conviction in the value of MEN as a whole and of the new businesses that we continue to generate within the company, which the London market clearly does not recognise.”
I ABSOLUTELY AGREE. And I believe a primary listing in the US, in the future, is not out of the question.
https://www.telegraph.co.uk/business/2024/02/08/london-stock-markets-decline-starting-look-terminal/
3. “I am confident that MEN, and its various businesses, will thrive once again as a private enterprise with my continued support and invite any holders so minded to continue the journey alongside. In return, shareholders can be assured that all who remain invested in whatever size will be dealt with fairly and will benefit from the openness in relation to shareholder communications through our website, social media and other channels, that we have always sought to apply."
I ABSOLUTELY TRUST THIS WILL BE THE CASE.
4. “Due to the continued challenging public market conditions, the BOD have decided that it is not in the best interests of the company, or its shareholders, to pursue an IPO of Green House on AIM at this time. The BOD will consider options for this independently run business in due course.”
I ABSOLUTELY AGREE. And I believe a primary listing in the US is currently being planned as the next steps.
5. “The company notes that Peter Levine has notified the company, without commitment, that, subject to the passing of the resolutions and confirmation that the Takeover Code no longer applies to the company, he may make proposals to acquire shares of any shareholders then wishing to dispose of their holdings on terms and conditions to be mutually agreed on a ‘matched bargain’ basis from time to time.”
I ABSOLUTELY BELIEVE HE WILL EVENTUALLY DO THIS. He is incredibly wealthy. So don’t sell your shares on the cheap between now and the 26th April 2024. JP Jenkins is an excellent trading platform for private companies. I currently hold and trade, without issue, AMT Global Investments LTD (AMT) and Tende Energy (formerly Sirius Petroleum). I expect MEN’s trading price to re-rate markedly on InfiniX.
https://jpjenkins.com/
AIMHO.
.
I have a few shares here not loads but this is either complete mismanagement or corruption. Every major decision over the last year has been so clumsy to be suspicious. How about we all vote against it?
Is this a given? What if they don’t get required numbers of votes for delisting?
Do not trust anybody now.
Online spread here 4.4-6.4p...shocking
Davey but off in MBO surely?
Shocking news for the pi's. Sad day for AIM !
Davey50 the atom shares will/could go to pay back the outstanding 12m loan to guess who ?
The same will happen at atom, controlling interest and loans with high interest rates.
Pointless selling now and the mm's know it because they will not let anybody buy at 4p...why sell at 3p when the ATOM stake is currently worth 40p share cancelation or not....I'm not going to let the mm's rip me off, price will rally
3 pence to sell according to HL .I will keep and see what happen when it delisted.We still hold the shares
Not here brag, parky, but tell tale signs been showing 4 long time on sinking share price, discount placing was major sign, ect, good riddance of PL been total failure investment argentina, sad day 4 investors.
Way past the point of selling for me. 15p yes but 9p no, if you really need the money I get selling but ATOM shares are currently worth 40p delisting or no delisting so I'll just hold them off market unless the price recovers
Sorry to hear that. All too common on AIM. GLA in your future activities.
LWHL this company has been rinsed for years and many of the things you mentioned do apply, the oil side went and now the rest of it is going to guess who ?
Can't see it being a good day for Atom either
Not a good day for the Aim mkt and will no doubt you will have Steven49 coming on saying "I told you so"
While I absolutely think the government should be doing much more to make the UK a more investment-friendly place, these recent AIM cancellations, if the trend continues, will require rapid state intervention.
I have no comment to make on this particular name, as I am unfamiliar with them (apart from just having read that RNS), but my overall impression of AIM directors is almost entirely negative.
Most pay themselves stupidly large salaries, irrespective of company performance; there are far too many examples of irregular trading patterns (especially just before good or bad news) and not nearly enough done by the authorities to tackle it, IMO.
To repeat - I am not making these accusations against this company - I have no idea if any of the above applies to this one.
IMO, right now, it looks like this is being used as an excuse for some outfits to keep the rewards of future success to a far smaller number of investors (especially freezing out small PI's) - many whose holdings in these types of outfits will be in ISA's - and therefore not in a position to transfer holdings over to a private listing, should they so wish to.
As a holder of several AIM stocks myself, this is starting to look troubling. It is one thing if an AIM holding goes bust (had a few of those!) - the risk you take with micro caps - but if this is going to start happening with those AIM outfits that are actually solvent, then this is one of the rare occasions where I would support more government intervention in business.
What are the thoughts of others here?
And sorry to holders here who are not necessarily going to be in a position to move forward with the de-listing, assuming it gets the votes to pass.
Sad day for me as well. I've got loads of these. I've done this game 30 years+ and right now this is the closest I am to quitting. I've been saying to myself do not become like the rest and day trading but now you see why people do it now no bullets. Got numerous stocks suspended too....fun times !