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With the 0.1p per share ex-dividend date of 24th December, and a payment date of 12th January, might this stock attract day traders between now and 24th December who want to take advantage of the dividend payout?
My apologies I misread res 7
"Other resolutions is the right to buy back 35% of the company"
...that as you have written it ..suggests spending cash in the business on share buybacks in the market from share sellers.....
BilboMultiBaggin
Not sure if you have understood that part correctly.... where are you reading that?
obviously i little concerned now with the other compnay and before that clumsey second rns i did initally think the share would recover but that second rns was clumsey as hell almost made to drop the share price companies now 4 million mcap 7 million in bank ouch
John Gunn - 300,744,931 - 52.89%
Roger Barby - 52,500,436 - 9.23%
Interactive Investors Services Nominees Limited - 33,211,533 - 5.84%
Jim Nominees - 32,240,509 - 5.67%
Vidacos Nominees Limited - 24,118,614 - 4.24%
The main shareholders at year end report owned 77.87% at that time....and they would have been asked of their view already.... seems a foregone conclusion....IMO
hi im from the inspirt energy board (another one off john guns companies) i would like to know how the heck he managed to get over 50% off the company without having to make an offer for it?
"53% is some way from 75%. How likely is it that AIM cancellation will be approved with the required 75% majority?"
very,very likely IMO .... most of today's trades will now be in the hands of those wanting to vote this through ....I have never seen such a vote not go through ...it makes financial sense from the company point of view ...
The secondary market is more buoyant than you might think...there are plenty of companies and start ups on there ...and an increasing number of tiddlers are finding AIM just too expensive and time consuming with regards rules and regulations....secondary market though is more a place for mid term holders than for trading in and out...
the share will get really oversold and then possibly lift and then tail off AGAIN as the end date nears..IMO... the main holders try and take in more small sellers using brokers to buy on their behalf.....the spread is just too high today ...
You can send your vote through....I doubt it will be an in person vote ....but is 75% of all those share votes taken...not 75% of all shares in issue
I’m sold out now, but that had crossed my mind.
Say they don’t get 75% of the vote, the damage to the sp is done
Other resolutions is the right to buy back 35% of the company
Eventually one way or another they will get their vote, maybe not this year or next.
Why would investors return here?
They don't need 75% of all shareholders to vote for it just 75% of those who can organise themselves to vote at the meeting which gives them quite an edge what with covid restrictions and all imho.
How likely is the approval of delisting? Very. In fact, certain. They had 53% before today. They will have picked up the rest needed today, and will take more tomorrow. They will then also be able to force the remaining shareholders (us) to eventually sell up at about 0.9p a share.
I only realised last Thursday that Lenigas was a NED here, and had decided to sell as a result. Unfortunately I couldn't get a price on Friday. This may be why! We have been well and truly had.
"Resolution 1: Cancellation of admission of the Ordinary Shares to trading on AIM - Under the AIM Rules, it is requirement that the Cancellation must be approved by not less than 75 per cent. of votes cast by Shareholders at a General Meeting of the Company."
However...
"The Company has received irrevocable undertakings from, Samantha Esqulant, John Gunn and Nilesh Jagatia to vote or procure votes in favour of the Resolutions in respect of, in aggregate, 302,994,931 Ordinary Shares, representing approximately 53 per cent. of the entire issued share capital of the Company as at the Last Practicable Date. Accordingly, given the irrevocable undertakings to vote in favour of the Resolutions received, the Directors believe that it is likely that the Resolutions will be passed at the Annual General Meeting."
53% is some way from 75%. How likely is it that AIM cancellation will be approved with the required 75% majority?
Thanks Bilbo.
Cynically the announcement of delisting, without reference to a buy out price has ensured the maximum drop in sp allowing the company to be bought for less than its cash in the bank. Outrageous behavoiur by all involved.
Sorry for the typo, I mean't he's a friend of.
Spot on. This is how he'll get 100% control at 0 cost to him . Don't forget his friend of the conniving David Fatty Lenigas.
surely a company can't drop a bomb like that and then the insiders can to hoover up cheap shares - that's daylight robbery
He might be using the company cash to do a share buy back. That was agreed at the Agm. That would be crafty.
John is buying.
Huge volume so whos buying ??
Dividends are at discretion of the Board. Once private Gunn can hike his pay and pay no dividends. So net present value of future cash flows to you as a shareholder is effectively nil. I suspect Gunn will make an offer once he has hovered up some more shares on the cheap.
Just don't sell, sit and wait until the company get delisted. Eventually you'll be approached privately by his solicitor to sell.
Be cheeky and ask for a price equal to 10 years discounted future cash value .
It will go to court if I don't get 2.5p minimum
This is what a legal white collar theft looks like.
Based on the £7M Cash, the share cash price is 1.23 p. However, John is looking at buying the remaining shares at a price well bellow that. He could be aiming at paying no more than 60p for every £1 cash at the bank, which is no more than 0.74 p per share.
He's total ownership of the company is approx 53% ;which is roughly £3.7M of the cash, However, he could be looking
at buying the remaining cash of £3.29M at the price of £1.98M .
I can’t see any taking up synergies investment bonds after this. If they ever get going.
Trust=gone