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Just checked me hl shares. SATiVA has disappeared,,,, Panic!!!!
I imagine the HL selling costs will be sky high.
I spoke to HL refarding this and they told me that they dont do still canna shares but will just use a third broker that does and therfore will continue to hold them. We may not be able to see them on the app but they will be holding them under the still canna name them i believe l. You just have to rinf them to sell, buy check up etc
Yes, selling at 2p would hurt.....May as well stay in for the long haul! Canada so big on cannabis products, you have to say this is a good thing! Here’s hoping!
This was my understanding, that there would be a joint listing and they would remain on the new version of NEX exchange, whatever its called. I have heard nothing from HL so assume they are OK with it?! I would be seriously upset if I had to sell at 2p with an average price of 6p...we keep getting stung here, by I'm holding on for a rise sometime in the future. Fundamentals seem good, and money coming in... Just a very slow burn. Hope I'm right!
I emailed sativa anne.tew@sativagroup.co.uk , becasue my uk share provider said they would have to sell all my shares.
Sativa replied
"I am sorry to say some of the nominee accounts seem to have got their information wrong which is why we have prepared the attached letter for shareholders in this position. If possible can you also pass this on to your account holder. If you give me contact details I can ask them to distribute the letter to other shareholders affected.
So id contact the above email if your provider is claiming they will sell
My provider has now responded:
"Please be advised an update concerning the Scheme has been sent by email this morning. Provided the dual listing application is successful and the shares can be traded via Crest they will remain in the your 'UK shares account'
Received the options! No nothing about holding shares overseas! Any advice, or should I just bail out?
I received exactly the same email when I enquired about the take over. Looks like it's the standard fob off for pesky PIs. Disappointing really.
Good afternoon Kevin,
Here are some bullet points that our CFO, Joseph Colliver, has put together.
o Subject to shareholder and regulatory approval of the takeover, Sativa shareholders will receive shares in Stillcanna Inc., in exchange for their shares in Sativa Group Plc. No payment will be made to individual shareholders.
o Each Sativa share will be exchanged for 0.33507 shares in Stillcanna Inc. – this is referred to as the ‘Exchange Ratio’.
o Sativa shareholders will own 65% of the combined company.
o The Sativa board and leadership will manage the combined business with Henry Lees-Buckley as the CEO.
o Shares will be traded on the Canadian Stock Exchange in Canada. This market is a leading market for stocks in this sector.
o Stillcanna Inc. is currently in the process of listing on the UK AQSE exchange. This will facilitate easy trading of the combined company shares in the UK. The expected timing of the listing is estimated to be at the time of the closing of this transaction, or shortly thereafter.
o 78% of current Sativa Shareholders have provided irrevocable proxys in favour of the transaction, which is above the 75% requirement.
o The Sativa Board has unanimously voted in favour of the transaction.
o The transaction is expected to close in early August once shareholder and court approvals are completed.
o Sativa shareholders are free to buy or sell their shares in Sativa up to the Scheme Effective Date, unless they have signed an irrevocable undertaking to pass on their shareholder vote via proxy to the Company.
o Shareholders will be able to trade shares in Stillcanna on either the CSE or AQSE via a Depository Interest. In summary, it will work exactly as it does now – you will call your broker to buy and sell Stillcanna shares as you do today with Sativa shares.
Should you have any further questions, please do not hesitate to contact us.
Sativa Group PLC
Good afternoon Kevin,
Here are some bullet points that our CFO, Joseph Colliver, has put together.
o Subject to shareholder and regulatory approval of the takeover, Sativa shareholders will receive shares in Stillcanna Inc., in exchange for their shares in Sativa Group Plc. No payment will be made to individual shareholders.
o Each Sativa share will be exchanged for 0.33507 shares in Stillcanna Inc. – this is referred to as the ‘Exchange Ratio’.
o Sativa shareholders will own 65% of the combined company.
o The Sativa board and leadership will manage the combined business with Henry Lees-Buckley as the CEO.
o Shares will be traded on the Canadian Stock Exchange in Canada. This market is a leading market for stocks in this sector.
o Stillcanna Inc. is currently in the process of listing on the UK AQSE exchange. This will facilitate easy trading of the combined company shares in the UK. The expected timing of the listing is estimated to be at the time of the closing of this transaction, or shortly thereafter.
o 78% of current Sativa Shareholders have provided irrevocable proxys in favour of the transaction, which is above the 75% requirement.
o The Sativa Board has unanimously voted in favour of the transaction.
o The transaction is expected to close in early August once shareholder and court approvals are completed.
o Sativa shareholders are free to buy or sell their shares in Sativa up to the Scheme Effective Date, unless they have signed an irrevocable undertaking to pass on their shareholder vote via proxy to the Company.
o Shareholders will be able to trade shares in Stillcanna on either the CSE or AQSE via a Depository Interest. In summary, it will work exactly as it does now – you will call your broker to buy and sell Stillcanna shares as you do today with Sativa shares.
Should you have any further questions, please do not hesitate to contact us.
Sativa Group PLC
Still get a feeling we will be golden, Stillcanna have a big share of the distribution. Bit concerned with the silence, reckon Dragon Fly are salty with Sativas share.
Well wasn’t expecting that! Think we may well have to write off our investments. As a company their lack of information to investors leaves a lot to be desired!
What is indeed going on?! This does not sound good... But from what I can gather the take over is going through. Anyone heard anything?
Ok, think we need an annoucement from the company. What the bloody hell is going on???
This could be a problem
https://www.prnewswire.co.uk/news-releases/dragonfly-biosciences-terminates-venture-agreement-with-borganic-inc-stillcanna-inc-830353171.html
Hi
Think everyone is either selling or waiting for the takeover
Share price looked like it was picking up but no has struggled. What are peoples thoughts?
One dollar would be dream world!!
Agreed! I got in just before the tories legalised medical pot so thought I was onto a gold mine, should have got out, but instead sadly watched it go down :(. However this is still a very new market in Europe. Stillcanna are not currently trading (since April), I think with this aqusition they will come back in allot higher. Hopefully back up to where they first came onto the market 1 dollar :)
I've too much in here just to right them off I'm afraid. I have contacted the company for clarification on why they think this is a good deal for us... Yet to receive a reply. Like I keep saying, it can't get any worse in terms of a lack of movement, however I only wish they had a better deal on the table for us. Still not clear on why a company with less prospects than ours are buying us out and not the other way round. If we we're buying them out and they were receiving a third of our shares I would be a lot happier!
Good point, i have written these shares off so,, nothing to loose by voting a yes to the deal.
CBD looking at around a 400% growth rate in Europe in the next 4 years. StillCanna has the largest one of the largest factories in Romania a good area to get into seem like an ethical company providing jobs for the town the factory is in. I think we could be onto a winnerish :) cut price now for future gains
https://rbj.ucoz.net/publ/companies/stillcanna_romania_will_become_a_major_cbd_producer_in_europe/4-1-0-46
Do you not think it would be bad news if the deal didn’t go through now. Think together it should improve our investment.
THe value of my holding in Sativa has halved. Now i am being asked to ,vote for something which will dilute my holding by a further 2/3 s. So in total my investment has lost a lot. Why would i vote to lose even nore?? Can someone please explain ;-)
I wouldnt be suprised if a lot of people investedback in jan 19 off the back of the greenhouse license news and are down since then. Wouldnt make sence to accept the bankers offer