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I'm a bit circumspect about things at the moment. I held shares in a company that went wrong in all sorts of ways and eventually completed an RTO. That was all well and good, as the new company is doing very well, but the problem was the dilution of shares. For every 100,000 shares you had, you now own 40! OK, there were billions in issue, which isn't the case here, but it's my only experience of an RTO so far. I'm thinking the new company will grow, and in a way I share your optimism, but my enthusiasm is being tempered at the moment. We'll have to see what 'shareholder value' means to us long term holders. My one experience so far has not had a good outcome, so I would hope for better here. Maybe other people on here have had a more positive outcome and can let us know.
Yes, looks like GC will manage to get an RTO completed in the end. I guess with Sir David Ord holding 9.87% and Tracarta holding 3.28%, he couldn't let it just go into voluntary liquidation. You never know, those holding less than 3%, like me, may end up with making money from this eventually. Roll on April!
RNS, reverse takeover!
Thank you for your input pijoe. Really don't know what to think, but will be relieved if GC does manage to complete this. There may be something left for existing shareholders to be built on. GC managed it with Majestic Wines; you never know, he may repeat with a successful venture here.
just to let you guys know..the rto target has pubs and rooms..21 of the 38 rooms are in the bull hotel at fairford..only just been taken over by the rto target..(c.12 months ago)..not got a good rep in the area (i recall the kitchen was closed down by the eho a few years back)..could do ok in the long term if RAF Fairford increases operations..otherwise it is competing with several high class established and newly refurbished hotels in the cirencester and local area..and we all know the money in the pub game is in the rooms..i am sure the results will be on a "pro-forma" basis for the target..hope that is useful (i am not an sma holder) by the way is GC the same GC on the bod of AMER?
Yes at last a sensible RTO but with massive dilution. Existing shareholders can't expect to receive more than 5% of the enlarged company.
It looks like the rabbit has been pulled out of the hat and into a mustard sauce for a gastropub main course. ;-)
Sadly I expect we will hear on either Friday 19th at the end of the trading day or first thing on the Monday after that the company�s shares will become unlisted on AIM. Hopefully, they may list on NexExchange if the Bod consider that some other new RTO may be still arranged.
Early in the new year but there’s not much time for some good news.
With Giles Clarke not being able to complete a deal for SMA ,he will do more damage to his not unsubstantial reputation at a stroke than any other outside influence could inflict. He talks in terms of further acquisitions but time is short. He will need all his experience and expertise to pull a rabbit out of the hat. I still feel he may pull this off. Time alone will tell ! I stand to loose a substantial amount of money here but unlike S P ,I do see Kennedy V coming to the rescue.Good luck here all! Oh and back from grave Sarkozy with a human face ! Now there's something to behold!
After all the gung-ho updates Giles should do the honourable thing and fall on his proverbial. There is still hope whilst a little cash remains in the bank but the cancellation of the listing will limit severely the Company's ability to do a deal
I make it about six weeks and as this is a holiday period unlikely to do a deal IMO.
I guess it could be worse, David Ore must be fuming - or know something we dont?
Couldn't put it better myself. What I shall be interested to know is what Tracarta and Sir David Ord think of this. Will they just write off their investment although we don't know what price they paid and indeed who they acquired their shares from, particularly Sir David Ord. Just wonder if they have something else that they can now resort to, to save the day and remain listed. If not, they sadly will not be the first shell company investments for me which have become unlisted. If they run out of time, which seems most likely now, they could list on the NexExchange as one of my previous shells did. I hope that they are going to update us further or are we typically going to wait until cancellation day? I hope not.
Well that's my investment down the drain. First KENV now SMA. GC is a waste of space and that is putting it mildly. Wish I had never heard of the guy!
I have been trawling the internet to see which company SMA may have an MOU with. One possibility is Stylrite Optical which is a family owned business - http://www.stylriteoptical.com/about-us/. Pure speculation I know!
I hope SMA have sold the rest of their holding in Volcanic as the SP has fallen back from C$0.45 to C$0.25 over the last 3 months. Naturally the more cash SMA has the better towards the funding of the RTO. Here's hoping we hear more this month. Nearly a month now since Sir David Ord notified the company that he had a 9.87% interest in the issued share capital and the RTO must be completed by 21 January. Hopefully, they are currently working on the readmission document. The nomad was changed on 10 November, the announcement of the MOU having been made on 28 September. All good indications that the RTO will be arranged in time, but of course there is always a nagging doubt whether it will happen.
Hi Fortitude. I know that there may well be some more shares issued to raise more money. Hopefully, it will be at a fair price to current holders. My average is rather on the high side and so I am praying for a quick and healthy rise in the SP once the share comes back from suspension.
Hi S.P. Totally agree with timing. Every company GC has been involved in has been a multi bagger potential.This is such an exciting company with the shareholders and directors that are here. As I have said before , five years will see a really large business. I see this as a cash generative from the whistle. Dilution remains my main concern not missing the January deadline.
Just to say Hi to the regulars here. We are getting ever closer to the RTO details being announced. Corny I know, but let's hope its spectacular. We'll see lol.
No matter how he acquired his shareholding, I totally agree that we have some strong shareholders and if more money has to be raised by a placing, there may be a reasonably good chance that they would participate either directly or indirectly and retain their new shares. Looking forward to further news.
No...in the last RNS it was stated by Giles Clark that Rupert was supporting the new company through his shareholding. In October we had a RNS stating that Taracka were holding 3%. ...all whilst the share has been suspended! It's great and exciting having these big hitters like Clark, Sparrow and Ore as shareholders.....exciting times ahead. SIr David Ore donated �1 Million to the Conservative Party....extremely wealthy individual....
I wonder where he obtained those shares. He is not in the list of shareholders with more than 3 % shown on the company's website. Has he perhaps obtained them from Rupert Fraser? If we don't see a TR1 showing a reduction in someone's holdings, I am at a loss as to how they were obtained. As at 26 October, 41.6% of the company's shares were not in the public's hands being held by the directors and Michinoko Ltd, which I believe may be linked to Giles Clarke. At the suspension price, he will have paid some �220K. Obviously, he may not have paid that amount if by way of non-market transfer.
One of the richest man in the country Sir David Ore has just purchased almost 10% of SMA.....interesting with the shares been suspended for such a long time. Exciting times ahead.....
10.11.2017 We are very close now and feel this side of Christmas is the most likely outcome for an announcement . As I have said before this share looks very exciting and only slight caveat to this is dilution but with Tracarta building large stake this suggests low dilution.