Firering Strategic Minerals: From explorer to producer. Watch the video here.
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No less than 2.5p
Looking at the results should be over 3p.
That might be fair value - but who will pay that?
Reading the rns it says 'cancellation along with other proposals' - my guess the other proposals are to offer 1p per share which is a premium to current price - why bc they won't want the admin of many small pi's.
They are making us an offer we can't refuse , holding a Gunn to our heads!
I can’t see any taking up synergies investment bonds after this. If they ever get going.
Trust=gone
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 .
This is what a legal white collar theft looks like.
It will go to court if I don't get 2.5p minimum
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 .
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.
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.