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Just opened an account in IG. Dead easy. Now to get HL to transfer the shares in specie!!
Willowman I presume the BOD wall crossed and canvassed the larger shareholders in advance of this decision. On that basis the larger shareholders should also be classified as incompetent as well? Clearly MTR want to take this business forward and not just sit on their hands. The main market listing was not forthcoming. All shareholders are entitled to their opinion and vote on the resolutions or even sell up and leave.
The best thing that this incompetent bod could have done for the last few years would have been to draw their salaries and just stay at home touching nothing. They just can't leave well alone, they have a compunction to press every big red button and pull every lever.
What level of uselessness does it require to mess up the sweet position Mtr found itself in?
Millions of Sandfire shares, annual dividend and the lucrative nsr to look forward to.
Reading that they plan to activity trade makes me shudder with anxiety. They've co*ked up every single trade they have made so far.
I don't think the MTR BOD had any option. They clearly wanted a main market listing on the LSE to facilitate a change in their investment policy. This was not forthcoming. I think it paves the way for some sort of Corporate Transaction which would not have been possible on AIM without it being designated an RTO. they would have wall crossed the major shareholders as to this decision. There are very few funds that hold MTR.
What an utter disgrace. Useless BOD should fall on their swords . Investors well and truly shafted. How on earth can they view this as a good move ? Just look at the SP reaction. Inept, incompetent cretins.
Guess I’ll have to reach out to Hargreaves. The discount to NAV is now extraordinary. Well done Board of Directors - wiped off a quarter of the value of the company
I suspect today's bomb in the share price is as a result of institutional Investors being forced to sell due to their own fund rules.... I have put a few more k in to try and capitalize...
However, I have come to the personal conclusion the BOD are not up to the job. We should do the opposite of their current strategy and sell the investments and just hold the 2% royalties... Discount to nav should be realised and they should walk away.
I only continue to hold as I have faith that the royalties will come good. Saying that it would not surprise me if the BOD sold at a discount.
I hope the large shareholders are asking some serious questions.
Automatically switched into CDI's from what I understand. I imagine MTR will post all the details on their website and the process that will be required to ensure that they can be traded.
IG markets, II, First Equity and I am sure there are others.
Not Hargreaves - what happens to our shares if broker can’t hold ?
ii - Interactive Investor.....
Which UK brokers trade in ASX CDIs?
Agreed. That would make it at 60% discount to NAV! Market makers short?
Down 36%! Seems ridiculous- still get ASX CDIs!
Interesting. Looks as though MTR are looking at one or a number of corporate activities that would have been difficult to navigate through AIM! So some sort of business acquisition. In an AIM scenario it probably would have constituted an RTO of some sort!
The SP isn't where it is because MTR is listed on AIM. It's where it is because of the way the company has been, and is being, run.
Agreed. I don't think we need AIM in the current format unless MTR gets a main market listing on the LSE. The ASX is more flexible when it comes to investments. No need for derogations or class tests! No need for a NOMAD or Broker etc....
I'd take more from the director purchases on the direction we will be going rather than what happened last year, where overall world context was all-round rubbish.
There's next to no activity re MTR on the ASX so I doubt the price shown is the price you'd get if you were to try to sell.
With regard to the use of "clever" derivatives and in fact building up a wide portfolio of investments, I think they got carried away with their early success with MOD/SFR and thought they were cleverer than they were/are. When I first bought into MTR there were only 3 investments -MOD + the 2 in Spain and Thailand which came to nothing. It's all down to Botswana now-I'm not optimistic re the rest. All very disappointing and annoying.
PS agree that the 'clever' derivatives are perhaps too advanced for a small company like MTR
On AIM, the share price is less than a third of what is what almost 2 years ago (31p on 27 May 2021); whereas on ASX we are down from 57c AUD to 33c AUD. Why is AIM so much more volatile ? do we need the AIM listing?
Dreadful reading. To get caught on the wrong side of financing as a forced seller tells me that the Bod are not smart enough to be playing with complex debt indtruments like collared loan facilities, etcs, together with modelling future cash calls from investee cos.
tempting to sell and get out when the Bod tests ypur confidence in them, but i will hold.
Bcos it's not that long b4 Motheo starts up, and the royalties from that once flowingshould be transformative not just for revenues but also NAV.
Fingers xd the Bod can be patient, and not rush into some smart**** forward finance/investments that erodes their value.
Looks like you were right last week, Dontpanick
Let's hope you're right!