George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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Sham the troll still on the LSE boards posting on a weekend and he was never even invested here or infect anywhere.
My history is there for anyone to read!
Have some shame now Neil and apoligise to anyone you tried to lure in through your "ITS style" bs.
It's my understanding that they pulled out of the deal at the last minute. This was due to the demand of the higher management/directors that any deal should see their jobs be saved.
I know people here have lost money in their investments. Last week we wrote 4 mil in sales. This week I had to call my teams and tell them they aren't getting paid.
Well its definitely over now.
The interested parties have withdrawn their interest!!
Of course they have so they can come back once the administrators have got involved and buy it for a few quid!
Sorry to hear about SFE. it took 13 days for IOG to appoint an administrator and then the Nomad resigns with immediate effect, leaving a further Month to find another NOMAD or the shares become cancelled from the exchange.
Sorry to me the bringer of back news guys
I've just had a sales person from Safestyle round and his pricing system on his PC went down, he called the office and was told they'd gone in administration
In their interim 27th September, they posted the following:
"Consequently, as described in the Business Outlook , the Group has commenced discussions with its stakeholders to strengthen the balance sheet at this time. There has been a good level of engagement in this process and the Directors believe that they have sufficient options available in order to conclude that the Group will have adequate liquidity against forecast downside scenarios through to the end of the going concern period (31 December 2024)."
That's poor on the BOD's behalf, as it was clear they were in a mess then...
I guess we will remain suspended throughout this time.
Not quite in Admin yet, there's 10 days to go to see if any deal can be agreed, but it certainly doesn't look like anything that will benefit existing shareholders.
'Consequently, the Board has filed notice of intention to appoint administrators to HPAS, Style Group Holdings Limited and Style Group UK Limited in Court today.
Unless financial circumstances change, and in accordance with statutory requirements, the board of these three companies intends to appoint administrators within 10 business days.'
Who the hell bought them?!
That last trade was for more shares than any one shareholder owned. What’s that all about? Mm’s dumping stock that they’d accumulated??
Absolutely! Lucky escape, I guess! Still sucks that it feels like we were completely duped! Worst thing is it looks like MMs bought the shares for 0.20p and sold them to us for much higher! B******s
The only saving grace is it was pure profit from qbt and and enet a few days apart.
Count yourself lucky you never had the opportunity to put the 10k in, I was stung for 4 and in the space of a day too! Worst mistake I’ve made to date
Yup, just saw it GB. Absolutely shocking!!
Unfortunately bond you seem to have missed the lte RNS! Oh well corrupt af!
At least I can go to the pub without worrying now done deal.
As soon as I posted my last message, just saw the latest RNS. I guess that's it!!
It's gone into administration I'm afraid mate
Neil - yes, at least it's temporary for now. I've asked the company to fully explain why they delayed suspending the shares for 24hrs, and how suspending them today affects any sale negotiations.
zaara - If we go into administration, I think that's it for us and it's unlikely we'll get anything back. ICON was a different and unusual situation altogether. As I said earlier, I would encourage everyone to contact safestyle to express their disgust at today's suspension. and to explain the reason for it. If the company does have a buyer, then maybe we could be brought out of suspension until we need to vote on it. That would be our best hope. It's possible a potential buyer requested the suspension. I'm not sure but maybe that's possible. The company is still in business for now. So until that changes, there's always hope something positive will happen.
Have a good weekend all and I'm very sorry we've all been put in this awful situation! 😟
Trade was yesterday
How did someone manage to shift 30m today when it was suspended
We can hope but likewise not holding my breath. Did anyone else try the chat function on their page? Seems a genuine person rather than a bot. I vented earlier
Well Bond it is still a " temporary suspension"
Now I thinks it's over for us as PIs BUT stranger things have happened and I guess if they are still trading as a company we may get some miracle news but I'm not holding my breath
Sorry Gordon I thought you were around at the big spike even as I was explaining all that lol!
" I guess where I was going with my question is when they initially declared insolvency, I recall a similar wording highlighting the potential for no value being returned to equity holders. This seems a very standardised sentence when companies seek urgent help. What I wonder is how this may play out, obviously the situation is bleak"
Yes absolutely they used the famous line, no value or little value to shareholders.
This was when they were looking for a sale I believe and the SP was around 0.70p and I guess was end of May/June time.
There was a guessing game going on then as to how much this "little to value to shareholders was"
Then if you remember before the first vote they were saying about 0.20p per share if shareholders in this first vote had passed the insolvency.. which we voted against and we got a spike to 0.70p again.
Bond-Investments - how, if we could, could we get our money back? What channels would we need to go through? Any help/ advice would be very much appreciated 😕