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UrabnTripper congratulations on sussing this one out. Appalling action here. Impossible to sell now.
Please don't sell bellow the cash balance . This is the pure definition of a criminal act, the broker and John Gunn are both in on this shameful coup.
dividend yield is 20% at .50!!
cannot get that in the high street bank lol
this is insane - i've never known a company consciously destroy it's own share price
They are not destroying their own shares, the aim is for John Gunn to buy the whole company (100% control) at the same price as the cash balance.
Basically for 0 additional costs to him.
is price is per issue day of teh shares and cash held is sufficient to buy them back, most odd way of behaving
This how the game is being played behind the scene.
We will get an RNS in the next few days saying that John Gunn purchased some shares at the lowest purchasing price of the day.
Well i think that nicely confirms all i've been trying to say here for quite a while. Ta x avoiders running/promoting/offering shares for investment to Uk tax paying investors ARE NOT TO BE TRUSTED. It may be that authorities have finally caught up with them about the imo organised and premeditated plan to take control of the company after the public listing, the cancellation of the imminent dividend as ramped by DL, in order to suppress the Sp and the buying out of an investor in the float by RB at cost and the possible selling of shares at float by a connected investor just to help the Sp fall along. It was like they were pretending to go through the steps of becoming public just for the purposes of getting it past various agencies and then put in place the plan to rest control back again after the public listing.If the authorities have caught up maybe they are thinking it is better to hide as a private co and (no doubt) hiding or intending to hide in a difficult to get at tax avoidance ghetto (otherwise known as tax havens). There were clues in the Octagonal listing doc which i still have re previous loans to JG which were very favourably written off if thats the right way of putting it. Later he did same again at Oct.
I'll help you guys any way i can. Always nice to get a bit of positive confirmation. Think I'll continue my posts about PSN directors and other builders who paid themselves bonuses after the crippling tax payer bailout of their assets, lifestyles, futures. When it comes to abusing the tax payer these guys are in the JImmy S's league.
The belief that such as Oct are doing nothing wrong seems to go deep into their crooked world view and this probably needs to be fully documented and published. Who supports them. Who else they see getting away wth it which has then justified it to them in some way. etc. They are NOT 'in this together' with anybody
This may sound like a dumb question, but is the company obliged to offer the existing shareholders a price, what ever that may be for our shares, or can they just delist the company, and we are stuck with shares that will be harder to trade?
sell before delisting (if you can) or you get nothing from the company
"sell before delisting (if you can) or you get nothing from the company"
what utter nonsense......they are merely de-listing from AIM...they aren't going bust.....
"we are stuck with shares that will be harder to trade?"
if the company does well...why would the shares be harder to trade ?...there will be a demand for them and their value will rise.....duh!!
Driffield, if the company is taken private I think we have to be offered the price it traded at before going private but I am not sure if delisting is the same thing. Maybe we should ask our stock brokers to whom we pay thousands in commission?
Pokerchips, Whilst I agree that it will be the same company, making the same profits the shares will no longer be listed on AIM, so to my mind they will be more difficult to trade and I guess more expensive as presumably any trading will have to be carried out via the telephone.
From the Octagonal Annual Report and Financial Statements - 31 March 2019 published on 24th September 2019
Chairman, John William Gunn stated -
"the board remain very optimistic that the work to date will translate into rewarding value for all shareholders"
"I would like to thank... the entire team in the Group..in delivering these results and strengthening the business to deliver greater returns for shareholders in the year ahead"
Fast forward to 17th December 2020
PROPOSED CANCELLATION TO TRADING ON AIM
A Leopard Never Changes its Spots.
Gunn by name....Gun by nature.
IMO nothing more than a Modern Day Outlaw.
Driffield
I think you have to decide on whether you think the company will perform and whether the value of the shares will increase....you then have to offset the small increase in trading costs against the "expected" increase in share value.... the increase in value may well only be realised when accounts are issued or news published, but that is the norm for such off main market shares....they are traded less on speculation and sentiment and priced more on actual company performance...
There are plenty of shares held privately where the value increases substantially out of the sight of the majority of eyes ....companies who of course may well then decide at some point to return to the main markets.....at much higher prices
Who knows whether this will be one of them or will eventually be sold ....remains to be seen...
I don't think that being off AIM is a death kill with regards to a particularly companies shares.....it is the performance of the company that matters ...when all is said and done
Thanks for that info Pokerchips.
Sorry here come another dumb question, when delisted presumably they will have to be listed on some sort of market, for people to be able to trade the shares. Where will Oct shares be once delisted? I have never been in this situation before.
After it delists it will trade nowhere. You need to manually find a buyer, or you just hold indefinitely until there's a takeover, buyout, whatever.
Read the octagonal website - it has the high level details on this beyond delisting.
The Company will appoint a firm (duly authorised and regulated by the Financial Conduct Authority) to operate a Matched Bargain Facility. The purpose of a Matched Bargain Facility would be to enable Shareholders to trade their Ordinary Shares by matching buyers and sellers through periodic monthly and/or quarterly auctions. Shareholders will continue to be able to hold their Ordinary Shares in the CREST uncertificated form and should check with their existing stockbroker that they are able to trade unquoted shares. Several stockbroker firms are able to do so. The Company will provide information to its Shareholders of the proposed facility in due course. This information will be available on the Company’s website under Investor Relations (https://octagonalplc.com/investor-relations/).
Most shareholders, and especially those who may want to sell their shares at short notice, have been sold down the river by this move, regardless of any benefits mentioned to the company. At the least the company should have been offering to buy shares at a reasonable price from those who don’t want to hold unlisted shares. I hold most of mine in ISA and so at very least will be losing associated tax benefits assuming it delists. I had no plans to sell any time soon, but not sure if i want to keep shares when unlisted or not / there are big questions of trust here, which others have admittedly called out before, that have come to fruition.
Had letter from share centre this morning in regards to voting, so was very easy to vote against all proposals via my on line account, suggest everyone does same
Thank you all for your replies, I sold my shares this afternoon, really do not want to get involved with delisted shares and be at the mercy of Gunn who will have full control.
Suspended @ 8.01 RNS
Sneaky on ex-div date IMO
However very interesting.
Yes, very underhand.
Legally, do they still have to pay the promised dividend in January?