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Thanks beton2. So does that mean a relisting of Nyota minerals in June of 2019?
Pure report on the UBE token.
https://static1.squarespace.com/static/5ade44a896d455713f7ee53a/t/5c0e3bdd2b6a28f9e7978d60/1544436703313/Ubecoin.pdf
There is nothing to be worried about with your shares. Everyone's shares are equal whether they are Aus or UK or other. Cash at the moment is an issue and the company is being run on a shoestring. There is an announcement due which should bring everyone up to date.
One of the points that I put to the AGM was that the register has to be cleaned up. There is to be an IPO. Prior to the IPO some funding is required. This pre-IPO funding is normally offered to the broker but I insisted that the existing shareholders should be offered this first. I suspect that this is going to happen and is the cause of the delay in announcement. Andrew does want to use what money we have in the most efficient way.
Also the Ubecoin whitepaper has not been updated yet. This has to be done to get the TGE underway. This has to be close now.
The aim is to list on the LSE as the first choice, and at present we need to get up to 25% share holding in the hands of UK or EEA holders to do so.
After meeting David and Andrew at the AGM, we are in good hands.
Thanks Beaton for the info. Got me slightly worried though as I am a UK holder. Can you shed some light on what might happen with our shares. I was holding a large amount of shares and would like to know what will be happening as can not get any information online. Thanks in advance
Thanks Beton2, much appreciated.
Willing to invest more if needs be.
I will add more tomorrow.
Sorry for the delay in coming back. I got back from the AGM and all hell had broken loose on a job that I am involved with, family and a golf tournament to organize. More importantly I was running down some numbers on the shareholder list. Had I seen these numbers before I would have been thinking differently. The company before the current directors had crucified the company. Before the UBE deal the only thing that could happen was to fold.
There are circa 1000 shareholders. At the OIS price / last traded price (the last market price) 900 shareholders do not own an ASX minimum parcel of shares $A500 worth. 600 own less than GBP10 worth. 30 shareholders only have 1 share. Pre OIS 85% of shares were EEA based mainly GBR. The remainder were mainly Australian. With the OIS and the RTO this has reversed. We cannot relist on the ASX with these numbers and we don't want to. To list on the LSE (we do not want the AIM market) 25% of the shares have to be in EEA hands. There has to be an IPO to list and the size of the IPO is dictated by the difference between the current EEA shareholder % and 25%.
This is quite achievable and the BOD is in talks with Blue Mount Capital.They are looking at this to happen in the quickest possible manner. That was the principle reason for me flying to Sydney, to eyeball the UBE guys and the Irae BOD that relisting ASAP and getting share value were paramount.
So firstly the Gryphon deal has fallen through. They have gone down the private path. The UBE deal has gone back to an RTO and this has happened. We are officially UBEcorp now. UBE were going to list by themselves but the timeline was too great.
UBE are currently restarting their TGE with a top marketing company in the USA. A lot of faith is in this based on their previous work in cryptocurrencies.Good success will cement the value of the UBE token at $US0.25. It will also open up to an exchange.It will also lead us into an IPO and listing. The funds raised will be used to market the uptake of merchants. The FTB model is a very sound subscription model. They are charging $US300 per merchant to be on the register and they have several big groups in a holding position.
Several problems that the BOD has is that with the GBR shareholders is that and cash raising must have a prospectus with any offer. The raise a prospectus and have it signed and cleared is nearly $100.000. The second issue with the GBR shareholders is that they are in the main, broker accounts and the brokers are not informing their clients with the little that has come out.
We still need plan B just in case that the TGE is a bit slow. I am trying to convince the BOD that to continue with the IPO without the TGE, they need some pre-IPO seed money. I have found a couple of precedences where in a cleansing program (reducing minimum shareholdings) in GBR companies they have included a top up facility. This has been in the FCA realm without a prospectus. This will allow any one to get m
@ ch123 & kwd1
Hi guys
My understanding is that you should have received 1 share in IRAE Investments Limited for every share you held in NYO.
I had my NYO holding in an Stocks & Shares ISA with Hargreaves Lansdown, and whilst the current value of this is showing as "n/a" it does confirm that I still hold 631,034 shares but now within IRAE Investments Limited.
If you read through beton2's previous posts below you will learn much about what is currently going on at the moment as well as the potential "way forward" from here.
He has been fantastic at keeping us all updated, and I for one am now feeling extremely confident that we may now see some return on our investments (as a result of our future holdings in UBECOIN, Gryphon Mining as well as IRAE Investments Limited, which having originally owned NYO shares we are all soon to have a stake in).
Perhaps also speak to your broker?
Hope this helps and GLA
Hi,
I'm in the same boat as you, as I have millions of shares in the company at a great cost to myself and worth £0 as is stands. Beton2 gives some updates when possible and keeps us in the loop. Apparently all went well in the recent AGM and they are looking to relist,but that could take 6 months or so. I'd say just hold tight and see what happens. Hopefully a relist on LSE in the New year.
Hi all,
I'm really very confused, so here it goes:
I was a shareholder with NYO for a good while, in the UK via bestinvest
I was offered the deal to top up, in order to assist raising the funds - so I did and now I'm well into the millions of shares.
My NYO shares still show on my bestinvest account, albeit at a net worth of 0 after delisting from the LSE.
What is happening? What is the best case outcome?
NYO is one of the few shares I'd ever traded, out of the interest in trading - but for me I still don't understand.
Appreciate the help, and sorry for being a complete noob.
There is a lot more to report but I have got super busy putting out other peoples fires. I should be right to write more tomorrow.
beton2
Many thanks for your comprehensive update, and all of your ongoing hard work concerning this, it's very much appreciated!
MB
:-)
Soz, should say Beton2.
Benton2
Thank you for your updates, very much appreciated as we have no other information available to us.
Keep up the good work.
Regards
The ICO event can run up to 6 months. All parties expect great results. The returns will be used in getting the merchants up and going.
So we expect that the ICO will sell the tokens, fund the roll out of merchants and facilitate the exchange crypto listing.
We spoke of fairness in administration. We discussed the situation that with a board that was weighted to major shareholders could very easily not be fair to all shareholders. We also discussed what sort of chairman was required. We need someone that is independent, preferably having been down this route already. We have to potential to grow large very quickly and the chairman has to be up to that task.
The shareholders have been kept in the dark to date. This has to change. The silence has been principally due to the cost of informing and the fact of needing to conserve all funds. Added to this the delisting from AIM and ASX. David was shown that he must engage with the shareholders even by forums. A corporate website will be addressed and constant updates and report cards put up so that all shareholders can know what is happening.
We spoke of the listing. They have talks with BlueMount Capital who have introduced several brokers in London. The preferred listing is LSE.This is progressing. To list there has to be 25% shares that are attributable to EEA shareholders. I will continue on this later.
I am glad that I went to the AGM. It was well worth the effort for me. I was able to meet Andrew (who has been entirely responsible for getting this over the line) and Neil (director) and Davis Wilmot who is the founder of Ubecoin and now a director and MD. (I already know Laurie Ziatas from a mutual board of another company)
We had a pre-meeting where we introduced ourselves and I voiced my expectations. We then held the AGM with all resolutions being passed. We then stayed and talked over 3 hours.
I am much happier as a result of the talks.
The points I expressed were (1) listing is paramount and is not to be delayed.
(2) To bring the perceived value of ubecoin to the share price, This is by (a) Selling the Ubecoin in the ICO, (b) listing merchants and (c) getting Ubecoin tokens onto an exchange.
(3) To be fair to all shareholders in administration. Being a large voting bloc while being the majority of the board could lead to what is at best gouging. Ubecoin will have success only due to Irae support.
(4) Engage on a corporate level with the shareholders.
David is very knowledgeable and competent. Andrew is a very experienced in administration and took a university course in blockchain when we came involved. Neil has some experience in cyber security.
David brought us up to speed with Ubecoin. We (UBE and Irae) began this journey 12 months ago at the time of a pump and dump of bitcoin. With over 1500 cryptocurrencies, UBE had to be a standout. UBE has set up in Gibraltar and is possibly the most compliant crypto in the world. It also has the rare ability to be able to exchange with fiat currency. The legalities were thorough and UBE is one of the few crypto associated companies with a legitimate bank account. (The banks have joined forces in trying to stop cryptos). UBE have also worked on making the use of the token easy.
We also spoke on security and the majority of the tokens are in cold storage in a security vault. Only a minimal amount are in general use and are behind several layers of protection.
The token now rests within the top 20% of cryptos and the exchanges are now coming to UBE in a bid to list our token on their exchanges.
At the same time as we began to buy into UBE, they did a deal with a party who was going to raise GBP5M. This was never delivered. Similarly the ICO has been very limp on the back of the bitcoin P&D. So we got a update.
We have a deal with Cash on referral which has 65,000 members, We have another deal with Revinfotech which has i believe 90,000 members. We also have 50,000 telegram followers. These are all in a holding pattern.
Recently UBE engaged a US company as a lead ICO manager to revamp the ICO and restart it. This company has had phenomenally great success in the crypto space and will be pitching to their institutional and high net worth clients. This will follow with the need to be in an exchange ASAP. They have done their "collateral" and will begin eminently. All great news.
Yes Kwd1, I am with the Share Centre and didn't receive anything either? Normally they are very good.
Thanks as always for the update beton2.
Thanks very much for the update beton2, sounds like all is looking positive. Though I didn't receive any news regards the AGM and voting from my share broker. I'm sure I should have.Are all Nyota minerals shares Inc the UK involved in the company going forward. I do hope so. My broker is interactive investor. Much appreciate your updates
Just got back into Perth. Redeye flights are hell.
All resolutions passed unanimously. We finally have a way forward. I will update tomorrow. We had a good 3 hours of meeting and much to forward on.
Thanks beton2. Much appreciated. I'm sure the AGM will go smoothly and all resolutions will be yes. So need a relisting.
A lot of work still needs to be done prior to listing. It is a priority and I am making sure that it stays the priority.
Hi all
Anyone have any idea on relisting DATE?
https://www-au.computershare.com/Investor create an account Irae code is IRAU. In profile click on communication preferences and select email.
bennvb
I emailed HL via the messaging option within my HL Stocks & Shares ISA Account, and then followed it up with a phone call.
I also requested written confirmation that they had voted on my behalf as instructed (i.e. yes to all resolutions) which they have confirmed they are happy to do.
Should Say Any Reply from HL?