Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
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So, finally, we will know the end game by the 22nd December; massive dilution indicated but not specified in advance and not much of an alternative either;
the worst thing is the Co saying that the LSE may yet impose a fine (see p. 11) on the Co "in relation to the timing of disclosure of the amount due by DVRG"; so, an admission that the Crook knowingly used the Co's precious cash to favour DVRG AND delayed on purpose any disclosure to the LSE; plus, the other Directors were caught napping in breach of their fiduciary duties;
Wonder is the right word!
Wonder when the next update on funding is!
Absolute gangsters
The tragic thing here is the employees who have been royally sh@fted by GB and his mates. GB has done this three times now. Firstly with Modern Water where employees got no compensation and contractual payments were not made. I suspect that DVRG maybe similar and possibly MSYS.
These employees provided highly accurate posts on the DVRG and other boards yet they got shouted down by GBs paid rampers. These are the people who we should feel really sorry for, not those who did not to heed the numerous warnings.
Sol - Far from being a stuck record I am simply answering your questions and responding to your questions.
Why I should do all the work for you is a mystery. I have previously set out in detail while GB and his merry band are conmen and have advised against investing. If you were foolish enough to invest then that is down to you.
If ithe advice was wasted on you then I suggest that before you do not make any further investments until you take the time to learn some financial and due diligence skills. Some of your comments demonstrate an astonishing lack of knowledge about some of the basics of company law and financial accounting. You need to grow up and take responsibility for your own mistakes.
Yankee and I have done all we can to steer you away yet you continue to rant and criticise.
For the avoidance of doubt, by far the most likely outcome here is that you will get nothing back. The upside is that you might get squeezed down and end up with 5% of what you had. The chances of the later are remote. You need to set your expectations appropriately. You have been well and truly been done by an Irish plumber.
Instead of repeating yourself here which is tor shareholders and not BODs, why don't you send all this to microsaic and the email addresses you have provided. I'm not having a go. It's just wasted on us here. We are aware already what's going on and what went on and cannot change that. With all due respect its like listening to a stuck record. If you are an existed shareholder as most here, you also would like to get your money back or have the company stay on Aim rather than private. Also I'm not the only one on this chat
They really are some shower. All the signs of going private I think.
@sol001 yes try and vote against a delist whatever helps. There is very little we can do as they have already wrecked it for shareholders and this is not their first rodeo. I will say this however;
- you seem to have a tone whereby you are suggesting myself @mugginsthedog are somehow annoying or wrong or speaking falsehoods, we are not, however we have been played and on a few occasions. You are making suggestions like as if this is a genuine company with genuine expectations and taking genuine actions for shareholders, they are not. This is clear at this point & if they do a raise of 200k they will be back to the funding trough in 3/4 months for another raise and more dilution. Right now everyone is looking at 90% + dilution and why would you accept a 200k raise which would barely pay this gaggle for a month or two.
- Also @mugginsthedog has been years warning people over on the Deepverge forums only to be abused and attacked by Gerard Brandon share rampers. It is bizarre at this point in time why you would be doubting his comments when he has been correct on everything, start focusing on why they did not pay for an audit yet, why they had a 1 million plus contract with deepverge and nobody knows what it was even for but to drain money from Deepverge to Microsaic. Yes its all negative stuff but that is just what it is, its not positive, we wont be apologizing on behalf of the conmen.
- also I do not have insider information, I am reading (something you should do) the insider information posted by f%^ked over ex employees who are commenting on the forum and then connecting that to the obvious BS in the RNS's. They are buying and selling relations companies, they are giving wives and cousins shares, this is all fact. How this works for MSYS is Nigel Burton and Gerard Brandon will mess around with the staff of MSYS firstly and not give them holiday pay and delay pensions and p45's etc. and then you will see ex-employees posting here like day follows night just like on the Deepverge forums. We are not at that stage just yet. Eventually the truth comes out it always does. So just like Declan Service here https://www.breakingnews.ie/business/businessman-charged-in-states-first-insider-trading-case-sent-for-trial-1524468.html who sold Innovenn UK to Integenum before it was named Deeoverge, it just takes time.
- my helpful suggestion for now is to send all information that you find wrong or not proper practice to the following emails and any old or new investor I will be giving the same advice to and then father time will catch up with these people. I am not a lawyer and would also like to be part of any group action, I would be focusing on that deal whereby the board of Deepverge (which is the board of MSYS at the time) did a deal with MSYS (themselves) for over a million to get cash into MSYS. Staff and others should use these emails.
aimregulation@londonstockexchange.com
market.abuse@fca.org.
Rights issue with options would help them raise more cash.Anything is better for us than going private.
Any idea on how we can Sue LT? How is the shareholders suing cineworld over there? They can't be doing it out of their own pockets. Anyone looking into this on dvrg side?
Mkt cap - pre-suspension - was 400k; even if only 200k is raised (just for argument's sake), simply to get the Audit concluded, that's still a 33% dilution; if 400k, then 50% dilution and so forth;
So, not much we can do until we know the numbers (other than the Co suing GJB for theft);
So what do you suggest we existing shareholders should do muggins? Repeating yourself isn't helpful
Sol, Devil is in the details; e.g. we don't know if funding will be forthcoming in the end, what dilution we will suffer etc.
But yes, it's better than delisting; so, let's wait and see.
Sol - what a bizarre comment! I have been warning for years about GBs behaviour. If you took a moment to go through my posting history then that will be very obvious. I called him out first and have consistently done so.
The Company has since been engaged in further funding discussions which involve raising funds subject to reinstatement of the Company's shares to trading on AIM. The Company is reviewing the proposals and will provide a further update on the resolutions to be put to shareholders to give effect to such proposals as soon as is reasonably practicable
Some positive news this morning for the existing shareholders trapped here. Let's hope they follow through and we don't delist. All fingers and toes crossed.
I know some people here won't like the news and if they can suggest a supportive alternative option then losing all our existing shares
Muggins, you and Yankee seem to have lots of inside information on GB and the company that would help the existing shareholders here. Wouldn't it be better to put both your heads together and think of a way to help us instead of just telling us over and over what we already know. It would of been better to warn us before we invested on here a couple of years ago instead of now when it's too late.
The only thing we can do as existing shareholders if we can't sue is vote against a delist. Otherwise as I said before; we just have to wait and see if they come back with another ipo (and yes I know we shouldn't buy, but at least we can wait to sell)
Sol - GB is most certainly not in the same position as the rest of us. The facts are that through his catastrophic management of Modern Water, DVRG and MSYS he and his wife have taken out £tens of thousands. Shortly before DVRG collapsed GB received a big chunk of cash from DVRG in return for some shares. Mrs GB was paid for activities that were far from clear and none of this was declared properly at the time. GB is an old fashioned conman who has been ripping off PIs and companies for years.
According to the Irish press, his only qualification is as a plumber.
PIs in DVRG and MSYS paid for our shares. He received virtually all of his shares whilst at the same time scamming the companies and enriching himself and family in the process. No need to feel sorry for GB he has done very well out of this to date and no doubt he will make more in the future. I suspect that there has already been a deal agreed whereby he and the management/BoD will skim off the best bits of MSYS and DVRG, probably as part of a prepack deal when the receivers are called in.
Even if GB didn't buy his shares, he still has 240,000,000 shares. He's retired and no longer on the BOD. So he needs to decide along with the rest of us to settle for the buyback price or vote not to delist. He currently had £240,000 and with the current sp at close, he has £15.600. He might be a crook, but I don't think even he would settle for such a loss.
Anyone know how cineworld is going on with getting their money back? Do we know what is happening with the people who still have stock with deepverge and if they have help to sue?
Yankee you have alot of inside knowledge on the company and GB you can put towards a lawyer for all of us
We're looking to you Yankee if you're willing to help us put all your facts forward. Thanks :-)
LT. Yankee seems an expert better than most here; perhaps he/she can put forward an action against the company for us all??
I have been shafted every time a share was delisted.I have bought shares since 1972 and own more than 1% of MYSY.I will vote against delisting.
Vote against delisting.We only need more than 25% to stop them delisting.
I think we should sue - in a class action by shareholders - GJB and NBurton for gross negligence as a minimum, fraud possibly, as 80-90% of MSYS cash was funnelled into DVRG in full knowledge that these funds were being lost forever; the Board had a duty of care and even the most basic risk and credit controls were being ignored.
Any lawyers here?
@sol001 not to down your post here and bring negative vibes but I think its important to add a realistic few layering's also here to the points you made.
- Yes we should be given the option to sell back to the company but if and when we are it will be at massive dilution and without an audit as they were BSing all along and cant afford one so the price will be at a 99.x% haircut. For example if you had 10,000 sterling in Microsaic a year ago then you would be lucky getting 100 sterling or 90 sterling back. That is how these people operate.
- An IPO in the future, if that did happen, wow, just wow that would be mad!! but if it did, rejoining would be insane, we should be warning every single person to avoid this like the plague but of course unsuspecting people will get caught like night follows day.
- GB is not on the board but calling the shots just like he did over at DVRG in order for it to go private. He is not selling anything back to Microssaic for 99.x% less than the free price he got them for. he did not buy his shares, he BS'd his way into his shares, so he is playing the long conman game.
- you also quote the RNS itself 'Company is also exploring alternative 'matched bargain facilities' quoting these conmen RNS's is the ultimate mistake as they are total BS and fabricated every single time just like all the RNS's over at Deepverge that staff have come in and stated are not true. So for the sake of anyone new looking at this lets not quote BS anymore. They are going private and in a way that maximizes the director and ex directors holding and to dilute us down to a feather, a bone would be too much.