Roundtable Discussion; The Future of Mineral Sands. Watch the video 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.
On admission we get 4,280,446 New Ordinary Shares at the lower of a) the issue price of 17p or b) the lowest price at which New Ordinary Shares may be issued by the Company as part of any fundraising conducted between the date of Admission and 31 December 2018.
Don't remember this being mentioned when NWOG announced the RTO on May. "On 8 February 2016 each of Nicholas Mustoe, David Newton and Peter Reynolds (father of Adam Reynolds) lent a sum of £100,000, interest free, to Big Sofa and also entered into a warrant agreement with Big Sofa, which entitles them to subscribe respectively for shares in Big Sofa representing 4 per cent. of its share capital. Messrs Mustoe, Newton and Adam Reynolds are shareholders in HubCo. Peter Reynolds received a commission of £50,000 for processing such loans.
WTF? what's this about £50k going to AR's Dad!!! I would advise Mr Reynolds to inform us shareholders who bought in further due to his involvement here, what the hell's going on....otherwise his appearance at the UK investor show will become the most embarrassing moment of his life.
Glory, Glory, thank the heavens that NWOG Action Group scuppered the Big Sofa deal. The HubCo EGM and Admission document tells you all you need to to know about this related party transaction, £50k to AR's dad for a 100k loan for a start. Then there's the £4m valuation of loss making unproven Big Sofa software that they want us to think does automatic transalation in nearly every language! Oh and NWOG have lent another £75k of what BS thinks might well be someone elses money, forgone the accrued interest and taken a reduction in coupon. Good luck with the placing Hobart.
If AR throws in the towel then his reputation will be in tatters as I for one invested more because if his involvement. Same here i invested more as AR was on board if it does go tits up i will and i guess a few other investors will vent there spleen at the next event he speaks at IN FRONT OF ALL TO SEE so yes his reputation is on the line so is his face in the FT but deep down i think he will honor our investments we will just have to be patient and wait and see !
I think it's a potentially exciting prospect. Reynolds no doubt has plans to use the Hubco shell as part of his company rejuvenation of NEW fortunes. I'd much rather the company embrace The BigSofa than have the loned money back and the management sag steering at the cash pile.
I think it is interesting that he is putting Big sofa into Hubco as it is a unlisted enitity like NEW now is. So it is possible if they manage a settlement to afterward do another RTO.
Hubco Investments - a zero income loss making company expecting to magically swallow up Big Sofa, another cash consuming loss making company owing us a fortune. Good luck with the multi million valuation. Where do Nomads get the chutzpah to make these things work?
Loan convertible at 17p unless further raises at lower prices in which case we can convert at that price. Low risk for us which is nice to see. Tuck this away for at least a year and then come back to see what's happening or if the lights are still on!
If AR throws in the towel then his reputation will be in tatters as I for one invested more because if his involvement.
Does anyone have the terms of the convertible?
I can't believe the speed with which bos found an alternative, how long were we waiting for the same news?
The only hope we have is if AR sees the NEW current business predicament as a personal afront and is still determined to turn this round, which he is more than capable of doing IMO. If AR calls it a day despite the critical voices illustrating he's so called ineptitudes during the saga, a sentiment I don't concur with, NEW will sink without a trace and no prospect of moneys will be seen again.
I said from the outset when some were crying about NEW decision to switch focus and associate with the BigSofa by way of RTO that if all was well and good the potential for eventual company growth was huge. Still of that opinion and it was the correct move but AR and team to target this company. It's a crying shame however that historical associated baggage relating to individuals past dealings and credibility has prevented NEW benefitting from potentially excellent prospects. So it looks like the borrowed funds will be returned but with no stake in BS thereafter, the cash return is great in reality will represent a somewhat hollow victory with a delisted company with cash but no business in which to invest for future growth.
If its not something good for NW which hopefully it will be then AR will be in deep dudu, AR is on the manifest. Mr Adam Reynolds*ᶟ 125,000 1.41 989,203 1.74% Why haven't NW's converted?
Well it'd be surprising if something good went NEWs way...
I guess it mean the loan will be repaid and NEW have missed out? If it becomes a success?
Ben Turney @Ben_Turney 3m3 minutes ago Big Sofa will have a M-Cap of £9.5m, underpinned by £6.1m raised. Daylight at the end of the tunnel for #NEW holders http://www.investegate.co.uk/aim/rns/sch-1---big-sofa-technologies-group-plc/201611301530015952Q/ …
Does it mean anything good for new shareholders or is it completely stuffed?
Ow and HubCo. got big Sofa http://www.investegate.co.uk/aim/rns/sch-1---big-sofa-technologies-group-plc/201611301530015952Q/
Rich my shares are still held in my ISA and I'm with iii. They said the shares will be held there indefinitely unless I request them to be moved or certificated. Until I'm told otherwise they will stop in my ISA.
This would not appear to be the case with IG. My delisted DAN shares that have been there for ages are still in my ISA account as my NEW shares are?
If you're on about the legacy issue then there will be no details released. Its all speculation at the minute so no one will make a public comment in case they get prosecuted for libel. As this is such a small amount compared to the $4b stolen I suspect we are way down the importance list so we are unlikely to see any info on this for some time. Stick the shares in your bottom draw and come back in years time to see where we are.