Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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Yes , thanks for the information SB . As you say what might have been, look at Cnic now.
12.29p per share will be paid to shareholders on 18th November 2022 - via crest or cheque if you hold paper certificates. No actions required from shareholders. Bittersweet end for what might have been. SB
I’m sure rus. mmx is based in the British Virgin Isles - the business you are looking at is one of its UK subsidiaries which as you note is now no longer in existence. SB
Are you sure? - Gov.uk says "If that money has not been shared between the shareholders by the time the company is removed from the register, it will go to the state." and MMX was struck off on 25th and removed from the register today. Hoping you're right...
Mmx has applied to dissolve its limited company status which is likely the final act in winding up its affairs. Based on timings I would expect this process to complete early Nov - with final payout/dividend soon thereafter. SB
I see at companies house that they have applied to have MX struck off which would result in remaining shareholders getting zero. Anyone have any colour on this?
Was wondering the same thing. If memory serves me correct August was when the final payment was ‘expected’
Any news chaps?
Investors get their money yet?
Hopefully goes well.
Good spot overlook! Escrow should be with us tomorrow - hopefully we get some confirmation from company which includes we have paid all our tax obligations as well - closer and closer to final payout. SB
I found this article which is pretty good. Left a comment and question on the site.
https://www.specialsituationinvestments.com/2022/02/minds-machines-mmx-l-liquidation-20-upside/?unapproved=14120&moderation-hash=3859397d1a54d78df2ff90c857bd2903#comment-14120
Thanks SB.
First I've heard of this, nice of my broker to keep in touch. In my experience they may still buy your certificate or spend four years doing the sums. Don't hold your breath.
overlook - I expect we will next hear from the company in early April to hopefully confirm the full escrow has been released together with an update on where it stands in relation to paying its tax and adviser fees and a potential timetable for the final return. Our shareholdings remain recorded in Crest - I can still see my holding in my accounts - just with zero value! SB
If you get any further info on your shares can you let me know please.
Cheers.
Thanks for the info Silverblade. I thought I had selected to sell but it seems now. I didnt.
Do I need a paper certificate from broker then? Bit lost on this one.
Would help if they communicated what's happening.
Thank you Silverblade,much appreciated
PAGE4 - you now own shares in a private company (with no option to trade your holding) which is currently winding down its operations, paying tax and adviser fees and is waiting on the repayment of $12m in escrow from Godaddy expected early next month. Whatever cash is left post those events will be distributed to remaining shareholders - the last estimate was 10.4p per share available for a final distribution later this year (or possibly sooner) - based on your holding at the point the shares were cancelled on AIM but remain recorded in the Crest system. The only bit I'm not sure about is how the company will communicate going forward (could possibly still use RNS) and how it physically intends to distribute its remaining funds. SB
Just seen this ... can someones sum up what happens next - how much is paid back for existing shares ... I didn't elect to accept the tender as I've only just seen this - does this make a difference to any payout ?
Company now formally delisted. Shares removed from trading and ISA accounts as predicted. For those who held on until they turn off the lights - lets hope they can pay the bills and wind the business up as quickly as possible with a minimum of fuss and a maximum of cash! SB
Greenhat - I would hope that the final pay-out may be a bit quicker but yes end of year worst case sounds ok. If your shares are in an ISA or normal trading account your broker will endeavour to provide a paper certificate for your holding - and in the case of the ISA holding those shares will no longer qualify for the associated tax benefits. Not heard anything else to the contrary. Meanwhile - mmx is my only blue share today.....SB
My broker told me just now that it could take up to the end of the year to get all my money back and if it were in my ISA - they'd have to transfer to another broker.
Seems like a lot of admin to me. Am going to sell to the market now before delisting.
Anyone else heard any news?
Overall 5% return on an eight and a half year rollercoaster. It was fun though!
See you and some others elsewhere no doubt. Thanks for all your posts.
Great outcome rgm - I hope this allowed a decent overall exit. Best of luck in the future - and all those who were part of the mmx club. SB