Opg Power Share Chat (OPG)

Thanks for confirming what I thought. I have no immediate plans to sell my shares and will wait and see if I can collect dividends. I was thinking about the other post in which it claims the majority shareholder can just pay himself a dividend by creating a new class of shares. I am not sure legally that can be done so easily . Yes new shares can be issued of a new class but they cannot convert their existing shares and ignore the minority shareholders surely under IOM law? Anyway all is not necessarily yet lost. Time Will tell I guess.

HNY All.

I kept my OPG shares and did not put any forward in the Re-Purchase program mainly because 6.25p is way below my average and I'm kind off hopeful of future dividends or buy-out at a much higher price.

I contacted Interactive Investor customer services who confirmed they do trade with the JP Jenkins platform (where OPG shares can be traded on a Matched Bargain Facility) but it comes at a cost. II said:-

Orders with JP Jenkins are Good Until Cancelled (GTC), and it's important to note that the companies served by JP Jenkins are often highly illiquid, meaning orders can be live for months or even years without execution. When trading your OPG shares on the JP Jenkins marketplace through interactive investor, the transaction will take effect in GBP (£), as this is the default currency for trades conducted through our platform and JP Jenkins.

Costs will be made up of dealing commission of £3.99, the JP Jenkins clearing fee of £25, and their charge of 1.5% if the order executes.

Good luck,

INE.

Thanks for that information. Do you think there will be any exit strategy for minority shareholders? OTC market or the majority making an offer to buy them out? If there is no dividend guess they become worthless effectively.

Simply pay themselves by introducing different class of shares unfortunately

I tried selling my OPG holding today thinking itvwas possible but my broker suspended trading the 17th Deceember without my realising it so I will now be stuck with OPG unlisted shares effectively worthless. Does anyone know if the majority shareholder under Indian corporate law can declare a dividend and only pay his own holdings or will he be obliged to pay all us minority shareholders not Indian resident the same dividend as well? I imagine that it will be possible to receive the dividend outside India at normal Rupee foreign exchange rates? Any advice from anyone like me who will become a minority shareholder much appreciated.

Yes, money is in my ii account for the shares I tendered. A sorry saga this one really. Let's see what they do now it delists.

Anybody got any money yet

The RNS, as I understand it, says all tendered shares will be bought at the offered price........

153,769,385 Ordinary Shares (representing 38.37 per cent. of the Company's issued share capital and 97.51 per cent. of the maximum aggregate number of Ordinary Shares that can be purchased pursuant to the Share Buyback Offer) were validly tendered by Qualifying Shareholders under the Share Buyback Offer. Shareholders who validly tendered Ordinary Shares equal will have their tender accepted in full. 153,769,385 Ordinary Shares will therefore be purchased under the Share Buyback Offer and subsequently cancelled. The total value which will be returned to Shareholders pursuant to the Share Buyback Offer will be approximately £9.64 million.

Just seen the Rns result of Share Buyback Offer and Cancellation.

I see it was slightly undersubscribed .

Share Price: 5.20..Bid: 5.10....Ask: 5.30...Change: 1.15 (27.06%) ...Spread: 0.20 (3.922%)

Not sure if the 27% rise is correct ?

Is there going to be a scale back in the tender offer ?

As they announced reduced number in tender offer up to 157.7 million shares .

39.4 % of the existing shares .

FTSE AIM All-Share index.

Not a place to invest .

Delisting .

Tender offer 6.27p.

Reduced number in tender offer up to 157.7 million shares .

39.4 % of the existing shares .

1st buy 2016 .. bep..33p one of my FTSE AIM All-Share -82.14% losses

At least other shares in portfolio up by as much today .

Rns.

OPG Power Ventures PLC, down 19% at 5.80p, 12-month range 4.00p-11.17p. The Isle of Man-based developer and operator of power plants in India says the goods and services tax on coal in India has been increased to 18% from 5%. At the same time, the INR400 per tonne compensation cess previously levied on coal is expected to be abolished and subsumed within the new goods and services tax rate. Following the abolishment of the cess, companies will remain unable to claim input credits due to electricity being outside GST under the new regulations. OPG's Indian power plants rely on coal as a primary fuel source and, based on the current coal procurement mix, the company expects an annual cost increase of around GBP2.5 million as a result of the tax changes. OPG says the overall impact on the tax burden for coal is dependent on its specific import and domestic and domestic procurement mix.

I too voted against but feel forced to accept the offer which will mean a decent loss for me too. Don't be put off. Quality companies, lots of time in the markets and lots of research and you will do OK I reckon. :)

In hindsight, this one was a higher risk lower quality company for me and they unfortunately appear to be screwing over the shareholders for their own benefit.

@Sparks21 - thank you so much for your informative reply. I was daft and didnt tender my shares because of a few comments on bulletin boards implying that the offer would be higher if we voted against the 6.27p offer. I got sucked in.

I bought at 10.23p per share which was not one of my best moments.

Ho hum, I definitely am a Rookie with investments.

Rookie Girl: If you have tendered your shares in the recent offer then you will get over 6p per share (6.27 if I recall) around the 24th December. If you have not tendered your shares then I believe they will potentially be untradable on AIM after the 23rd of December. - Liquidity could then be severely restricted.

- Options:

- Hold shares privately, with limited disclosure and uncertain exit opportunities.

- Explore off‑market transfers if a buyer can be found (often at a discount).

- Monitor for any future corporate actions or exit offers from the company.

Personally, I'd just be selling them before they are delisted. But others may disagree and ideally you would seek out professional advice if you are unsure.

Is this worth clinging on to?

Though disappointed to see the share holder value being destroyed like this, I'm glad to see all validly tendered shares are being accepted and bought back. Draws a clean end to owning this dog.

Whilst OPG has set the buyback tender offer deadline to be at 1pm on 12th Dec (tomorrow), I am aware that correspondingly Hargreaves Lansdowne had set the deadline for their share account holders who held an OPG shareholding to decide whether to take up the offer to be latest by Noon on 11th Dec (today). I assume this was to give them adequate time to do the compiling and onward filing to OPG via Cavendish within their 1pm on 12th Dec deadline. It’s likely that other brokers will have similarly set their deadline timing by lunchtime today for their applicable share account holders. Hence the share trades being observed from this afternoon onwards are likely to be for stock that was not offered up by holders for the buyback. OPG will inform the market on 15th Dec regarding how many shares in total were offered up for the buyback within the deadline versus the 157,700,000 buying amount limitation (1st Dec RNS) and hence advise for any associated pro-rata basis that is to be applied to the offer settlement due by 23rd December. DYOR.

Those who didn’t tender are left holding stock in a company that may soon be unlisted, with limited liquidity and uncertain exit routes. That may well tend to push prices down as some investors scramble to sell before the delisting.

The market does not appear confident that 100% of tendered shares will be purchased in the buyback.

I’m not sure if Cavendish can disclose details about the number of shares tendered for the buyback, but reading between the lines, I suspect the total tendered shares are likely within the limit the company intends to purchase.

Nothing's guaranteed at this stage though.

Realturbo - that's very interesting. The reason given for the tender being scaled back was that the family didn't want to have to make a bid for the Company. But I find this strange since i would have thought they would want to mop up any small residual shareholding to make life easier for them going forward and to get 100% control. Did Cavendish give any clue as to why the family were reluctant ? And indeed why they were confident that we would receive 100% in the tender? Many Thanks

@realturbo…..if that does turn out to be the outcome then the current sell price at circa 5.5p versus the buyback price of 6.27p is offering a potential profit opportunity for buyers of 14% for just a short circa two week holding period. That’s an interesting investment that is well worth considering and let us see if the market tightens in the upward direction on share price during this coming week of trading before the buyback closing date (most brokers need the shareholder vote submitted by 11th Dec to meet the OPG deadline of 12th Dec) on an expectation of this full purchase outcome. DYOR.

Spoke to OPG Nominated Adviser & Broker Cavendish last week and they sounded pretty confident that 100% of my tendered shares would be purchased in the buyback.

Used this weekend to have a read again thru the circular and the subsequent 1st Dec dated RNS where they have reduced the amount of shares subject to the 6.27p buyback offer (157.7 million instead of the 182 million that were originally intended) and the following is summary outcome as per my understanding (DYOR):

Total number of OPG shares = 400,733,511

Number of shares held by Family Concert Party (not subject to the buyback) = 206,507,166

Hence maximum number of shares potentially available for buyback = 400,733,511 - 206,507,166 = 194,226,345

Hence the ratio being purchased in the buyback versus the maximum available = 157,700,000 / 194,226,345 = 81.194%

So if 100% of the maximum available shares for buyback were voted as such, then the pro-rata amount that the Company would buy is 81.194% of each shareholders holding. This would leave 18.804% of each shareholders holding not being bought back and hence subject to the post delisting status or perhaps based on the timetable that was provided there could be a small window of opportunity to sell the returned unpurchased stock at the prevailing market rate during the last AIM trading day of 23rd December, if the unsold portion of stock is returned timely to shareholders accounts within the trading window open time.

The likely reality is that not all 100% of the 194,226,345 maximum available shares will be voted for the buyback offer for various reasons (e.g. some shareholders will decide to retain their holding and target to pursue for a greater future return after the delisting, some shareholders may have circumstances (tax issues etc) that is preventing them from partaking, some shareholders will have missed seeing all the communications on the buyback offer and not vote (default = No for a non vote), some shareholders will not know how to do the voting through their shares account, etc). Whilst I doubt the number of non buyback voting shares will be up to as much as the full difference between the maximum available and the number to be purchased (194,226,345 - 157,700,000. = 36,526,345 shares) it will likely be quite a significant amount that will increase the pro-rata purchase % for those who decide to vote for the buyback to become closer to 100% from the lowest case value of 81.194%.

Hence every shareholder can accordingly consider their stock holding, average price, etc based on the above scenario versus current market trading price, the expectations for post de-listing status, and determine which course of action they prefer to proceed with based on their own particular circumstances. Good Luck!

First of all thanks to Andrey Walker for the great effort to co-ordinate shareholders, I'm guessing that any potential legal challenge is off the table.

Has taken a lot of hard knocks and setbacks to finally learn not to invest in Indian companies.

What we know now is that Arvind Gupta has always been and will continue to be a con artist and the FCA has no interest in helping shareholders being ripped off.

Maybe time to consider switching to ETF's, Funds, REIT's.... or throw in the towel.

Yes, the lights are out and the game is over.

In theory, everyone knows you shouldn't invest in penny stocks, especially those with a majority shareholder from an emerging market, where the concept of honesty and integrity is very different from ours. Experience has proven that theory correct.

This was a learning experience for me. In return, I wish Jeremy and Michael the reputation of being useful British idiots, and Arvind Gupta to burn in hell.

RNS Just out. Opg getting delisted ..

GAME OVER..

What if they treat themselves with salaries and bonus instead?

Why haven't they published an RNS about the AGM results, it happened the other day?

They can dilute your stake by making a unilateral decision to issue additional shares, and you will be the last one to know about it, since there will be no reporting obligations as a public company.

I won’t be tendering my holding, happy to hold it as an unlisted company. 2024 FCF was £17m against current market cap of £22 (EV even lower due to net cash). Once taken private the Guptas will likely treat themselves to bonanza divis and I want some of that.

Its a calculated gamble for anyone who buys with the intention of selling at 6.27p and hoping they are able to cash in all their shares. For those that voted NO to the taking of the Company private and have then sold their shares there will be the opportunity to buy back in if the vote is not passed. (unlikely) Although as Nick Rubens says how could you ever trust this Company again??

Appreciate your input NickRubens

Offmessage I do not trust this company. Wish I had never heard of it like many other AIM dogs i ended up with. If anyone can see an opportunity here to make money and is certain then just ignore me , but I took 5.7p for all my stock yesterday, fearing I would be stuck with some delisted shares or at best trying to sell the ones not taken by the company at maybe 2,3, or 4p when delisting is certain and the only remaining exit then remains the last few days on the market prior to delisting..

Yeah second thoughts, I've backed out of that trade, looks like a complete stitch up, taking ownership of the company for less than 40% of its outstanding value

@NickRubens - fair point

I guess for it to work these would need to be trading much much lower, given that 60% of them could be cancelled if the offer is fully subscribed. You'd need to actually make 250% so buy them at 1.8p and sell 40% at 6.27p to cover the original investment. Is that right?

Seems criminal!

Using company money before the buyback is approved but FCA not interested, stealing a wage

Jersey fund sold shares, I wonder who been buying them ?

Hayden, you will need to log in and message the agents via the online chat and let them know that you wish to vote against and they will log this for you, that's what I did in my iWeb accounts.

In regards to the tender, this depends on the results of the vote on the 3rd December and you have to have submitted your tender by the 9th. If the vote is against then I believe the tender is void anyway but if the vote is for the you have to either choose to sell your shares and cash out or retain the shares but the company would be delisted from the AIM which makes it difficult for you to trade them. Also they cannot be held within an ISA as far as I'm aware of the company delists.

Hello

Could someone instruct me how I vote against, or post a link?

Also. I have had a message through my Halifax online banking and stock and share account saying

Tender Offer.

6.27 pence in cash for each OPG Power Ventures plc Ordinary share successfully tendered.

And.

Cancellation of Listing.

You Have The Following Options:

1 Tender your holding of 15218 OPG POWER VENTURE ORD GBP0.000147 shares.

If you elect to accept the Offer, your OPG POWER VENTURE ORD GBP0.000147 shares will not be available for you to sell, unless this Tender lapses.

2 Tender part of your holding of 15218 OPG POWER VENTURE ORD GBP0.000147 shares.

If you elect to accept the Offer, your OPG POWER VENTURE ORD GBP0.000147 shares on which you have accepted the Offer will not be available for you to sell unless this Tender lapses.

Important Information & Other Key Dates:

OPG Power Ventures plc (OPG) has announced a proposal to repurchase up to approximately 45.42 percent of their Ordinary shares by way of a Tender Offer. The Tender Offer is intended to allow shareholders who no longer wish to be invested in the company with an opportunity to sell their shares.

The Directors of OPG have informed the London Stock Exchange of the Company's plan to cancel the admission of its shares to trading on AIM. The proposed last day of trading in OPG ordinary shares is 23rd December 2025, with the cancellation expected to take effect on 24th December 2025.

Following the Cancellation and Completion of the Tender Offer the Company will look to implement a Matched Bargain Facility with JP Jenkins. We don't trade in this way, so should you wish to use this facility you would need to transfer your shares to a broker who can offer this service.

The Proposals are subject to shareholder approval at the Annual General Meeting of the Company to be held on 3rd December 2025.

The Company will ensure the repurchase of a shareholder's Basic Entitlement in the Tender Offer of up to 45.42 percent of their holding. Tenders in excess of the Basic Entitlement of 45.42 will only be satisfied to the extent that other shareholders tender less than their Basic Entitlement or do not tender at all. The company may scale back Excess tenders (above basic percent).

As your OPG shares are held through a nominee, we treat any elections at the nominee level. This means the Company might reduce your election more or less than they would with an individual shareholder. The scaling back process follows OPG's instructions, and we don't have control over how it affects your shareholding.

If you make an election, your shares will be moved to a safekeeping account awaiting completion of the event. You won't be able to see them on your account and you won't be able to sell them. If the event doesn't complete for any reason, they will be returned to your account.

If you're sending your election to us in the post, it needs to arrive with us before 9th December 2025. We ca

I wonder when the BOD will be putting out a correction to the RNS about coal prices to be lower?

https://www.investegate.co.uk/announcement/rns/opg-power-ventures--opg/gst-goods-and-services-tax-rate-revision-on-coal/9121629

https://www.reuters.com/sustainability/boards-policy-regulation/indian-coal-prices-be-lower-after-tax-revision-industry-officials-say-2025-09-04/

If they are lower and we cancel out the £2.5m increase in costs and make savings on top, I wonder what size of dividend they could pay from the savings?

Fieldwolf. I think the Company already know the depth of feeling from Private Investors and are just ignoring it. They just intend to push through with the resolutions to purchase our shares for a derisory payment and take the Company private. The fact that the votes are being declared already as against the proposals tells them the depth of feeling.

For those that didn't spot it the Administrators and Company Secretary for OPG power ventures PLC changed last year. It was previously FIM Capital.

The new contact is chancery@chancerytrust.com

They are in contact with the BOD and are able to pass on concerns from shareholders to them directly.

It would be a good way to convey the strength of feeling about how minority shareholders are being treated.

A couple of posters had mentioned pursuing legal action against the company regarding the offer.

Perhaps we could discuss the best ways of doing so? Is it better to joint fund such an action or for multiple cases to be brought against the company?

If multiple cases against the company then I'm happy to join with my own case (and evidence) but would appreciate some input from those already further along that chain.

Wht's the implcation if i reject the tender- ther seems to be a minrity group forming and taking this option- nothing else exist to escape- please comment

Thanks for info.

Looks like possibly f*"*'ed either way then?

If offer not taken, then price purposely stamped down to nothing, with money bring syphoned off etc.

How on earth did this company make it too UK AIM listing. I thought there would be tougher protocols etc.

Dubs. OPG are proposing to buy the remaining shares that they do not own for the derisory sum of 6.27p. They will need to have a 75% majority vote to achieve this. Also they are proposing to take the Company private and remove the listing of the Shares on the AIM Market. Basically you will be waving goodbye to your investment if you vote positive for the delisting and accepting the 6.27pence offer.

Update me please...

What's the tender offer for?

Thanks

I've submitted my FCA market abuse form.

https://www.fca.org.uk/market-abuse-reporting-form

Out of interest - for anybody interested in getting lawyers involved I do have some interesting pieces of evidence that could come in useful.

1- where the company confirm in writing that the share price has been artificially depressed by the enforcement directorate investigation

2 - where the company confirmed at the last AGM that the company was committed to its AIM listing and had no intention to delist.

Is legal action still being pursued? If so, i'd happily provide that written evidence in support.

Any suggestions on financial journalists who might want to take up this story?

ftadviser.newsdesk@ft.com has been suggested - but any further ideas on those?

What are posters' thoughts about contacting the ED to make them aware of the BoD moves?

Given that they are subject to an ongoing investigation into money laundering it seems preposterous that they would be able to propose such a significant corporate action?

Surely there must be laws against that kind of thing? I realize that while it remains an ongoing investigation they remain innocent, but it just seems like a practical preventative step against malpractice?

The Vote depends on them two Jersey funds who hold 10% . We definitely need them too decline the deal.

But have they been offered an off the record favourable deal? So Gupta can get the deal over the line? My trust in Gupta is Zero, so i wouldn't put it past him ?

Take it nobody has had anything positive from the FCA,

Basic upshot i got was thay was not even interested in sending a response

Not sure what they get paid for but certainly not doing what they should be

From the low key wording (and even the bland “update” title) that they have used in the RNS today, it would likely lead you to the viewpoint that it was published somewhat reluctantly by the esteemed Management, through gritted teeth.

When you are trying to gain 100% ownership of a Company cheaply, then the last thing you want to be doing is issuing such types of positive news to the market when the Companies future path voting period is ongoing. This is because it could lead to key share holders who were sitting on the fence for making their voting decision, to now decide to hit the “NO” button as they reach the determination that there is significant under valuation being offered for voting “YES” by the esteemed Management.

DYOR

Think Talisman has consolidated its shares into Prana. So Prana holds 40m now per OPGs website.

They are also linked with an activist campaign against Besra Gold, there may be more information on who is behind it in the files in relation to that case

Hi and thanks for that coordination.

I see there are two funds owning 20 000 000 shares each, from Jersey : Prana GP Ltd and Talisman 37 Ltd. Is there a way to contact them ? (I am in Indian ocean so a bit far !)

https://find-and-update.company-information.service.gov.uk/company/OE032072

https://www.leinumber.com/leicert/213800IFAQLYVO46NT46/

Talisman 37 have stakes in other companies as Highfield resources in Australia.

These funds look independant and not linked with Gupta family. So if they can vote against the offer, it would help seriously.

Confirm the issue with the incoming email. I am working with google to fix it.

Hello, i tried to send a mail here : opgpv.minority.shareholders@gmail.com but it doesn't seem to be a valid email

Great initiative Audrey. I sent the form to the publisher of a large newsletter who has thousands of clients, many invested in OPG.

Can someone please contact via Whats App on 00 33 673 915 218 to discuss the shareholder resolutions, I am present travelling 5 hours behind UK time. Trevorgordondavis@gmail.com

Quick summary to help focus the mind:

- OPG wants to buy back up to 182 million shares (45% of the company) for 6.27p each at a total cost: up to £11.41 million.

- Buyback needs shareholder approval at the AGM on 3 December 2025. If not approved, it won’t happen.

- OPG wants to leave the AIM stock market (delist). This needs 75% yes votes at the AGM.

- They plan to update the company rules - also needs AGM approval.

- The family group (owns 51.5%) will vote yes but won’t sell any shares.

- Directors (own or control 51.8%) recommend voting yes.

- If approved, trading stops on 24 December 2025.

- “Qualifying shareholders" refers to holders of Ordinary Shares on the register at 6:00pm on 1 December 2025

To stop the delisting we need a pool of qualifying shareholders with a total shareholding of at least 100.2 million shares who vote against

2x massive buys equal to 6% of the company and no RNS = more market manipulation and failure to shareholders

Looks like they have already mopped up 24m shares from holders already jumping ship

I suggest every holder keep at least 1share for the paperwork it creates the #wats the FCA and MP should hang their heads in shame

Just message them and instruct them what you want to do.. if people don't vote, we are forced to get slightly over 6p share and Gupta will be laughing all the way to the bank..

1) I own the shares on IBKR and no message informing me to vote on anything.

20 Wasn't OPG supposed to send the details of the vote the day after their announcement? I haven't seen anything.

Got the same reply.

I own the shares on IBKR UK and no message ....