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Hi BigBiteNow (and others) I've got several emails this morning from people wanting to join, but I can't tie them up with users here unless they mention lse username in the email, so I don't know if I've got yours. Please all when you email to join, let me know your lse username and your shareholding (both will be kept confidential). Thanks, CS paragon@73east.com.
@CleverSheep I have today registered my interest n the group. I am unable to attend the meeting in Walsall due to being based in Europe, so I would greatly appreciate views on the outcome of the meeting, be it here ot via mail. Many thanks in advance
I encourage PIs to join the PRG Association group by emailing CS's email address below. If we collectively hold a large % of the shares and in the event that we need to challenge them - the board may feel more accountable due to the size in numbers.. GLA K
http://www.diamonds.net/News/NewsItem.aspx?ArticleID=54474&ArticleTitle=Rough%2bMarket%2bEnthusiasm%2b Hopefully the outlook/sentiment for diamonds is improving.Lets hope PM has a nice surprise for us.GLA
I was informed today that my screen dump verification of shareholding has been accepted as evidence, so that's all you need. As backup I have requested a confirmation letter from my broker (HL) which I will take with me. Don't forget Paragon Shareholders Association - email paragon@73east.com if you're interested in joining.
Is it the same venue that Metal Tiger (MTR) use for their many investor meetings?
Me
Thanks HB, That does surprise - I wonder what connection's they have in Walsall? You would have thought somewhere near their offices if not in there..(and on a Sunday) K
I asked when send my shareholding details and they advised it was in Walsall
Cheers CS
Hi K168 Yes, got it, Thanks, along with 3 others. Just a slow start to Sunday for me. I will reply later today with some thoughts on how we could manage the shareholders group. Reminder for anyone interested in jouning a shareholders group, please email paragon@73 east.com Cheers CS
Hi CS, Just emailed you earlier - not sure if you've received it? Cheers K
HB, how do you know?
Hi, Who confirmed that and what is the actual location details? (No problem disclosing as if you're not on the list with ID - you ain't getting in..) Cheers K
The meet is in Walsall
K168 I'll look for your email. I'm also assuming for the monent that it will be in London, but don't know. Hope they don't try to drag us all to Guernsey! Cheers CS
Hi CleverSheep / Holeefook, I emailed info and Hugo to register my details and provided a screen shot of my HSBC account holding. It's date/time stamped so should be sufficient evidence. The only problem is its my wife's birthday on the 28th and I just mentioned about an important meeting I have to go and she wasn't happy at all so i probably can't make. (I assume it's in London??) CS - I'm about to email you later ATB
Hi clever sheep , yes but they would be less willing with no easy way of exiting the investment.But I suppose if it was to prevent the co going under and losing all our investment they would be more likely to raise some.That would be a difficult situation to put us in.It is very hard to speculate what will be said but unfortunately you could be right.
Holefook, the company doesn't have to be listed for it to tap shareholders for cash. It just needs to know who they are.
K168 that is a good point about the funding from PI's but I do not see how it would be done, or took up if the Co is not listed. Obviously it would take funding to re-list so it would be a catch 22 situation.I suspect it will be more along the lines of still trying to finalise financing etc.But they will have to say if there was any truth in the Lesotho Times story that said they were to lose Lemphane if had not deposited funds in Lesotho.Also they would need to clarify if they can remain solvent prior to funding,and what the deal is with the £500k loan.It will certainly be interesting but maybe not exactly what we want to hear.As said prev if it was excellent or terrible news unlikely they would have a meeting! GLA
I suspect the meeting is to feel out shareholders about stumping up some more cash. I plan to go to the meeting wherever it is (I have asked in my acceptance email). I have also asked if they will accept a screen shot of my account as evidence of holdings, I'll post the answer here. I have also asked my broker (HL) for a letter confirming my holdings, which is good enough for an AGM so should be good enough for this. I think we PIs should definitety form a shareholders group, to represent our interests en masse to the company. Anyone interested please email paragon@73east.com - its just a domain I own and I have set up a specific email address for this. For the record I have sunk just over £50k in here, for a current holding of around 1.2m shares.
I agree with BBN. Whilst we don't know what the new is until the shareholder meeting - my own thoughts are: - if the II has 100% provided funding - Acquisition is going ahead albeit through tendor process Why not simply publicise it in their website? My concern is, the meeting is to test out PI appetite for more funding through us.. As I say, just my own thinking and I hope I am wrong as I am heavily invested. Hopefully, I am wide off the mark! GLA K
I received my cert from Barclays within a week of requesting it, I've just framed it and hung it on the wall actually, I now have to take it out of the frame to scan it for registration for the meeting.
Yes it is great to see this news,I had almost gave up hope altogether.But we still do not know what will be said.As stated if it was really bad they would not have a meeting,but just announce our fate.However if it was decisive good news i.e' We have funding it is all going ahead' then why have a meeting, an announcement would keep all happy.I suspect will be more what they hope to achieve still, rather than what have.Whatever it is good news as gives some hope.With regards to not having share certificates they hopefully would accept a screen shot of trading accounts showing the shares.GLA
First of all Bluke thank you, that made me smile. Whe I saw that I had an email from ParagonDiamonds initially my heart sank, as I expected a short declaration that the company had failed in its objectives and would be wound up. However, the invitation to a meeting offers thast most dangerous of commodities, hope. I would not wish to speculate, but it seems an odd way to explain their strategy, when an announcement on the website would be sufficient. It says to me that Mr Manduca and his team want to explain the difficult road they have trodden this last year. They state startegy for 2016, so they expect to be in business this year. What they will be doing is a wholely different question but for a company with limited cash, they have to at least demonstarte how they will stay afloat. Hope is a dangerous lady to lie with