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Many Thanks for reply...!! I have done so already..GLA
MOnzur, No you will not be paid for the shares you will end up with a unlisted shareholding. Which you will not be able to dispose of easily and if you do it will be a large discount. Better to sell before the delisting!
Can anyone kindly answer that what will happen to the shares of who does not sell, and delisted? Will he be paid for the shares he will be holding? If yes, will it be profitable?
Oops typo I meant know not now. Griffiths also let his friend Robert Quested sell out before he announced ORA capital delistingl. AIM regulation is a joke. People are allowed behave like crooks.
I would not trust Griffiths if I was you, I have already sold out. He will probably try to force the share price even lower so he can do his buy back slowely at rock bottom prices. With out letting the price rise. Did you see how the share price crashed just before the announcement. He has clearly let his friends now before the announcement. Bastard. Clear insider dealing.
what do you think, will he pay for our shates ?
Griffiths screwed the shareholders just like with ORA capital. I guess he is doing it so that he can buy back most of the shares at a heavily discounted rate. He will make a fortune on his holding, everyone else gets screwed :( In future, I would not recommend buying any small holding where Griffiths is the majority shareholder. He seems to have a habit of screwing small shareholders.
They are delisting from the AIM :(. Sell out now if I were you.
whats up with sarossa ? squeeze out ?
The largest shareholder Richard Griffiths acquired his stake in Sarossa at average price of about 2.4p in 2011 from my analysis. That puts him underwater. I am wondering why he has not forced the price up (by restricting stock) to at least break even level by now. Perhaps it is because they still want to buy stock back. At 2.4p any buy backs they want to do would still be at a big discount NAV.
Companies house shows Pref shares have now been cancelled (stated in annual report). https://beta.companieshouse.gov.uk/company/03248123/filing-history The company now has £100,000,000 shares at 1p. Hopefully, LSE can update the fundamental information tab.
The lack of interest is probably good at this stage. It allows a big discount to NAV to form. SARS can then use up there cash pile buying back the stock at a large discount. Hopefully getting rid of the large share overhang. They will no doubt try to promote the company abit more once the cash is used up.
Well unfortunately both SLN and PHC have slipped since posting in May, the value of SARS net assets will be around £16-17m It's the lack of interest though which is worrying. The EPS like you said will be impressive when results are issued in late August.
What will move this share? All those shares bought and cancelled (15%) and still no price movement.
Hi the_shareminator, Good to see another poster. I think they will complete all of the buy back just in time for the annual report. Then they can use a improved EPS. I bet the 12.5M share sale was part of the buyback. All the other recent large sales were them.
Gains / losses since Year End (Dec 31st) Although not yet reported, as YE results were February... SLN - 4.2% holding prior to dilution was at last count 2,186,000 shares, no equivalent to 3.14%. At 31st Dec 2014 the stock value was 220p, now they are 36% higher at 300p even after major fundraising (placing) and the holding is worth £6,558,000 approximately £1.75m added to the investment value to date. PHC - 5.3% holding, equivalent to 3,802,220 shares. At 31st Dec 2014 they were approx 118p however they are now 108p in the middle of their trading range, total value of £4,106,000, a loss of £0.38m In addition to the above, Sarossa has holdings of below 3.0 per cent. in - a profitable AIM listed care sector support services business with a solid dividend yield - a good growth record and a multinational sports betting and gaming group also with a solid dividend yield That's over £1.4m in portfolio appreciation over the past 5 months. Of the Company's investments, at 31 December 2014 they had a total value of £12.23 million. Cash balances of £6.29 million at 31 December 2014. Therefore net assets including investments totaled £18.53 million. Assuming the two unknown investments are flat we are looking at £13.5 million portfolio value today. Cash will have fallen by just less than £900k as 52 million shares were bought and cancelled at 1.72p, so let's say £5.4 million in the bank. £200k of fees for the period. Net assets therefore marginally higher at £18.7 million But of course the current MCAP after factoring in the recent buy back of shares is only £10.6 million at this price...(0.018 x 588,188,754 shares). It was around the £12 million level recently.
Yesterday the spread was 18% today it is down to a much more reasonable 4.65%. Lets hope the spread stays reasonable.
Is this good for small shareholders?They are going to remain listed on the AIM. So the 15% buyback looks like it maybe good for small shareholders. Does anyone else have a opinion?
Net Asset Value per Share up to 2.90p (a 7.25% increase) £1.32M gain on portfolio investments. cash balances of £6.29 million Looks good
Sarossa subscribed for 2,000,000 SLN shares, at 200p £4M on 10 April 2013. Now silence ther. worth 255p or £5.1M (profit of 1.1M). In addition to 343,053 options that converted to shares (at 233.5p) for the GVC investment that did not even go through a £801,029 profit. Net Asset Value per Share for last report of 2.69p, plus share a buy back. Why is Sarossa so under valued?
The last investment in PHC on the 8th Oct 2014 (459708 shares, price 69p) seems to have done well. The price of PHC is now 120p. Therefore for that specific investment a 57.5% increase occurred or £234,451 profit. In addition to the earlier placement of 3,377,596 shares at 78p (£2.63M). Now worth £4M, a £1.42M increase.
Close Brothers Asset Management have just announced that they have a 8% stake.
Sarossa have decided to buy more PHC shares at a inflated price of 118p (Liberum Capital give a fair value of 75p for PHC). http://www.investegate.co.uk/plant-health-care--phc-/rns/tr-1--notification-of-major-interest-in-shares/201412151351327825Z/
http://www.investegate.co.uk/sarossa-plc--sars-/rns/holding-…
"The Options were granted at market price on the date of their respective grants, but with a dividend credit mechanism which adjusted the Options' exercise prices relative to all dividends declared by GVC from the date of the grants up until exercise. The Options' average exercise price is therefore approximately £1.89 per share. " For very little work/risk Sarossa plc have now banked a cool £1.49M worth of shares :) http://www.investegate.co.uk/gvc-holdings-plc--gvc-/rns/exercise-of-share-options/201406260700065560K/