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.
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.
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
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.
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.
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.
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
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.
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.
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?
"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!!
sell before delisting (if you can) or you get nothing from the company
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?
still being paid in January if on the record tomorrow? If so, is this at the start of trading or end of trading tomorrow?
DL needs to say on twitter where he stands. He and others bought my holding at knock down when i was forced out at outrageous loss to pay and equally outrageous tax bill.
Another con i've been involved over at URA and just to give you guys the heads up on delisting what happens is they can get any sort of goofed up valuations on the shareholder assets they like and they can pay themselves any way they want. Often money as well as shares to furher consolidate control. That one was organised by a gang but because i'm neutral and walked everywhere unarmed on my own (as Russians know and i enjoyed the random appearance of someone asking for directions to check if i spoke the language!- I don't) sometimes in quite dangerous other places for some reason i'm not allowed mention what that gang might be. Nor would i want to. That's up to them to live that way i suppose. Another word for it could be bullying
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
tiny
get hold of your broker i have been in touch with h/lans and they will vote for me + i have decided to sell if i the time comes but keep 1 share
The Management are counting on apathy to get this through !
resolutions require 75% of votes cast not 75% of possible votes, so if 20% don't vote that's only 80% to count they have 53% of the total so that would give them nearly 67%.
I find it totally wrong that the only proxy I can appoint is the Chair, who is obviously strongly in favour of all the resolutions.
Out of interest what would happen if the delist passes but the reincorporate fails ?
Was going to invest in OCT but on research found the link to INSP and was shocked at the high level deception.
Trust is major and if one company stinks then the other does as well.
There are international laws regarding de-listing that they must pay the price prior to the announcement.
Canadian Law has this protection , unsure of the rest of the world.
Anyway look into this - Good Luck
The meaning of a shareholder is i own a share of the £8+ million assets.
Offer price???
What offer price??
People have been selling here without a clue of the offer price. I think I will hang on and see whats on offer.
4th may 2017
At the same time, the GIS expects to make an impairment charge this year against two of its pre-RTO non-core legacy investments: specifically it expects a charge of £306,000 against its Level 1 and Level 3 investments, namely Inspirit Energy Holdings PLC, reducing the carrying value of this investment to approximately £106,000 and also expects to make a full impairment charge this year against its investment and loan notes in City Golf Club Limited of £233,000.
from the inspirit energy board as far as i know were not funded by you guys....
CeoA, if the fca get to hear about money being sent to other companies and it is true it will likely be seen in a poor light , ditto crest!
I also think this company could have been created by David Lenigas so he could be paid off. Sold out on the quiet and Gunn reap the rewards of share holders money. Then have the cheek to take it all back.