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It seems someone attended the AGM on the other board starts with A ends with N (DVF in the middle). Interesting post re Krills view on Ovoca seems the outcome of the Taymura case has a big baring on the future direction of the co.
Indeed nada zip nowt ... but we expected it. I'm pleased that common sense prevailed and there hasn't been a day trader stampede for the door with the sp staying above the 8.5p floor price of the CEO's 3m buy. If its time for us to be patient then lets have a bit of fun .... if the court case is due to conclude by the 15th February and we give them an extra month for delays to 15th March ... the lets have a wager on the sp on 30th March!! With all the normal caveats and IMO-DYOR-WTF acronyms and based on 3x assets vs market cap I am starting the bidding with 14.12p
As suspected nada, not even a copy of an AGM statement. Court case resumes tomorrow maybe some news following. Did anyone attend today apart from Krill? I am sure the 3 directors knew all resolutions had passed prior to the AGM given their holdings! Note they are NOT acting in concert!
At the moment tomorrow brings nowt.
Agree slowlearner. Having waited so long a few more months won't hurt. It would be positive to get some AGM statement from the CEO with future intentions however not holding my breath. Let's see what tomorrow brings.
Oli12, With the court case resolution delayed another month or two I have decided not to head to the AGM. I've been in an out of this share over the last 5 years and it has done me well but has also taught me (painfully) about patience. Reality is they may well hold off any big announcements on Wednesday until the arbitration period finishes on 15th Feb (shame the next creditors meeting is 23rd November). Even with no announcements tomorrow the share is still great value IMO (as per previous posts) and waiting till mid Feb is no real hardship even if a couple of day traders jump ship tomorrow and the sp dips back to 8.5p (it would madness for the traders to exit below 8.5p when the CEO bought 3m shares at that price)
Let�s hope the AGM is a little more than an RNS stating all resolutions passed <ends>. One hopes for an update in strategy (assuming there is one) and an explanation for the delay in AGM. Let�s hope long suffering holders will have something to cheer about soon. Return of cash would be welcome.
Need couple of buys at NMS to kick start it this week.
Interesting buys late Friday for 9p someone loading up. Been strengthening on the bid / offer all week. AGM next week surely some news.
someones getting in early.
He has purchased shares recently a sizeable chunk for 8.5p. This price was significantly higher than his previous purchases. AGM a week today. Now is a good time to take a speculative position here. DYOR. this has its risks but also potential rewards too
Kirill?
I think even if you are conservative then a price of say 12p is still peanuts, however that is nearly + 50 percent from our current price. This one is a speculative HOLD purely for the cash. DYOR.
As you say Oli12 ... - Market cap (�7.8 million) is c.1/3rd of cash/equivalents (�21.4 million as at 30 June 2017) & annual burn is small (less than �1 million) & further returns likely from the Taymura case & CEO purchased over 3m shares at 8.5p & management/board hold over 50% company (but are deemed to not be acting in concert) Something must happen ... hopefully we will hear news at the agm but even if we don't the shares are still fantastic value IMO
Price tick up this morning � just over a week to the AGM some kind of tangible news expected on the future of the company� cash covers market cap x 3, return of cash to shareholders? Dividend? CEO purchased stock recently for 8.5p prior to closed period.
The next meeting of the creditors seems to be scheduled for 23 November to appoint a new arbitration manager. The Arbitration Court of Krasnoyarsk Territory on the 12-09-2017 dismissed the arbitration manager, arbitration period extended until 15 February 2018. Not sure if the auction has proceed yet of Taymura assets
I agree Oli12 - looks like the copied last year's agenda to quickly get it out as they had run out of time ... almost as if someone reminded them last week that they needed to do it inside 15months!!! What gets me though is what are they doing with their time ... they have management & a few employees with minimal workload (only a court case, some prospects and minimal reporting) .... you would have thought that would give them time to write a decent agenda/resolutions and even a suitable update. It is very tempting to jump on a �20 Ryan Air flight and go to the meeting ... its such a frustrating company but I'm trying not to forget that the assets are 3x the market cap and its just a matter of time before something good happens
Well usual stuff in the resolutions for the AGM it�s almost a copy of last years! I guess the plan was have a delayed AGM as at that point the Taymura case would be settled by November. It seems that it might be by the 11th providing the appeal by Saltanora Holdings fails...then the auction can go ahead. however the company legally had to have the AGM now due to the time since the last one. Looks like we need to wait a few more weeks for that elusive news.
http://bankrot.fedresurs.ru/OrganizationCard.aspx?ID=70888F351719846854C4D775F395C945 This relates to the bankruptcy proceedings by the administrators... the last meeting on the 11 October seemed to say that the sale of ALL remaining Taymura assets can proceed however anyone wanting to appeal this had 1 month to do so. It appears that Saltanora Holdings Ltd is trying to block the sale of some of the assets this is a Cypriot registered company that must be linked to Taymura. http://bankrot.fedresurs.ru/Download/file.fo?id=1139136&type=MessageDocument Hopefully a favourable outcome for Ovoca is not to far away
Maybe some good news to come before 22nd!!??
so we know when it is... what we want to know are the resolutions
If only every transaction was as well timed!! Yes this is a waiting game but with Kirill buying �250k and �275k over the last two years, that�s not just loose change and I believe part of a long term plan to maximise his return. Get everyone so aggrieved at the lack of action for years but retain a huge amount of assets and then when everyone least expects it pull the rabbit out the hat. Now it may be next week, it may be two more years, but it WILL come, but I just have a sneaky feeling that something is brewing, especially with them looking like they are going to breach when their AGM should be declared. Good Luck all and hopefully won�t see you all in another two years! DYOR Lennie
Investors remain cautious of this one and I can see why, it has its risks... people want to see the RNS before piling in. I am positive we will see news next week re the AGM and possibly a wider update for holders on why the delay of AGM.
That has got to be a buy signal in itself! He timed his last trade in this to perfection.
I am not sure the reason for this. I did check with the Irish Takeover panel, they were very responsive however they do NOT see the 3 directors as "acting on concert" and although no explaination was given they did not see why they needed to make an offer for the rest of the share captial.