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As Damocles has said another positive step. This is all looking good for an RTO to be arranged within the timescale allowed before cancellation of listing in mid January.
thanks, my thoughts as well, just another piece of the jigsaw slotting in. time will tell
After the previous RNS when a MOU was announced, my view is that this is another positive step. I can't see why another broker would be appointed if they weren't going to be used. I don't see anything negative anyway. GLA.
change of nominated adviser,
thanks saint much appreciated. waiting till news drops then, hopefully will come good. good luck all and thanks again.
HI cheesie, I suppose the first question is whether the company needs to raise initial finance. It probably has cash of about �650K at present based on the interim results report, plus VG shares worth c. �190K, a total of �840K. Will that be sufficient to acquire the Indian company? I suspect that it will be necessary to place some shares to raise more money to finance the RTO. At what price compared to the suspension price - who knows? Here's hoping we know this side of Xmas and that the company do not leave it until January with cancellation of the listing then in prospect. So long as they proceed with acquisition of the Indian company, it is surely most likely to be before Xmas, 3 months after the MOU being signed being 28 December.
What could be the likely outcome of share price on re admission to trading here, I know its a difficult one and we would all be guessing to be fair, but could it be that we return at the same price when we were suspended, higher/lower or could we be made an offer for our current shares. I appreciate none of us would know exactly but thoughts welcome. cheesie
Giles Clarke serial entrepreneur,proven ability. Jeremy Sparrow,far east financier with a track record of arranging 10s of billions of finance ! Couple this with GCs British companies successes and we have great future head. Perfect !
Yes looks like this can be arranged in time before the mid-January deadline.
New trading company,new Indian CEO , fully financed business and new company name. I would expect to definitely see this in santas delivery !
Point taken Damocles and of course you may well be right. As you say companies with billions of shares have very hefty consolidations .With 860 million in circulation approx, my view is that it will be unlikely. Companies take risks in consolidations which can have good ,bad or indifferent consequences not least cost. GCs other companies sit from just under half a billion shares to amerisur at 1.3 billion. Share sales prior to suspension are more likely to do with an anticipated lock up of investor capital.
I'm sure we will have a profitable company with huge growth potential, but the one thing that concerns me at the moment is share consolidation. I've never invested in companies that are going for RTO's before, and around six months ago both SMA and another company I hold shares in decided to have a change of direction. Gold prospecting to on-line ladies clothing, and the prospects look very good, but for every 100,000 shares you owned, you now have 40. I'll not recoup my investment there for decades, if I live long enough. Admittedly, there were billions of shares in circulation that have now been reduced to around 65 million, and I'm not expecting that sort of reduction here, but it does leave a doubt in my mind that our RTO may not be too favourable to long term holders like myself. Looking at the last couple of days trading before our shares were suspended, there were many trades in the millions, which leads me to think a consolidation is on the cards. Maybe I'm being too pessimistic, possibly I am, but I would hope our RTO is much more favourable than seeing 100,000 shares reduced to 40! We live and learn, but it's a real doubt at the moment.
You will not be disappointed here Damocles ! What we are buying here will be a going concern and will will almost certainly be profitable from day one,unlike a hole in the ground mining venture. Smart move GC !! Buy on resumption of trading.
Yes, it's going to be interesting, and I'm looking forward to the future. There seems to be forward movement now, and I don't think it will be long before we find out what is happening. I have a large holding here, and as you say, the Indian market is huge, so with that in mind, and a healthy profit from our activities, I'm hoping for a decent dividend. I've splurged a five figure sum in here over the years. I'm not expecting it to take off immediately, but over time, I expect my patience will be rewarded. With GC's track record, I can't see any other result. I could be wrong of course, but profit is the reward for risk.
Turning from mining to consumer goods as I have stated before is a much easier to grow area and one that could return large multi bagging profits. As the ATS research report for India has shown a CAGrowth rate of 20.6.which compared to the rest. Of the world is massive! The F M Consumer goods is set to double to 104 billion dollars by 2020 from 49 billion dollars now. Given that we have the right product and G C is an expert in this field. It all bodes very well.
I think if you research you will establish, we have given up on the gold. We are shortly if RNS is to be believed involved in Indian manufactured specialist eyewear. If you are chasing what was our Gold go Volcanic metals/mining!
Afternoon all, Been looking at the company website and trying to find articles etc to research but thought I'd ask you guys if you can provide some info... I tried to find clear numbers saying the Oz's of gold this company at least estimates... Can anyone tell me how much gold is being sat on and if there is a target for say 100,000Oz a year to be mined etc? Thanks
It all goes to show that they are now clearing up the administration of SMA. These shares they bought are small fry for them, as saintpeter says, Tracarta is the vehicle through which Clarke and others connected to him buy shares. I guess it probably has advisors to give the maximum tax protection etc. For sure they will have to change the name of Sovereign, they will need to reflect the new companies aims, and then they will need to set up the administrative structure within the new entity, this should be greatly helped by the fact they are listed on AIM as firstly they wont have to start from scratch, but also they wont have so much to deal with the Indian authorities who love RED TAPE.....oh gosh how they love red tape. This is where being the captain of the ECB will help out as Giles Clarke is bound to have some really top contacts in India who will help him to cut through some of the time wasting. The whole set up looks just so good, numbers in India have so many 00000000s on the end it makes your mouth water.
Tracarta as I understand it from other bbs may be GC's/mates investment vehicle. Notifications have been received in connection with holdings in other GC connected companies Amerisur, Kennedy Ventures and Ironveld. In SMA's case, I am not concerned that they have this holding except that once SMA comes out of suspension (god willing), we shall need to watch out for them selling some or part of their holding at some time in the future. I expect you noticed how long it took for the market to be advised of their holding almost 3 months and they acquired their increased holding 9 days before suspension.
I followed through the notification today Tracarta who purchased 3.??% early July (how do they get 3 months to notify?). The Director of the said Company is Dr John Wardle, guess were else he is a director? Ans: AMERISUR RESOURCES PLC, now there is a connection here methinks I am thinking we might be on a winner
well what does this mean for us, all theories welcomed. cheesie
I wouldn't call it a roller coaster ride, more being becalmed in the doldrums! I first bought in here when the price was circa 3p. It's been a long wait, but I've averaged down over the years, which defies logic really, but sometimes a lack of brain cells and blind faith can reap rewards.
You've had a real roller coaster ride then. I did buy some in the 0.80s and so I really need this to work! GL.
Some positive news at last. I've stated before I'm intrigued about our future, and the RNS hasn't changed my optimism. This will be a new experience for me, as I have always invested in start up mining exploration companies, but we will soon own shares in a company earning money, making profits, and paying dividends. Hopefully, anyway, but with GC's record I have no reason to doubt that. I just had a look at the share trades in the few days before sales were suspended, and most of the trades were for millions. It's difficult to know just by the colour reported on here if sells are sells and buys are buys, but the volumes indicate to me a confidence in the future of this company. I expect the coming weeks will be very interesting in many ways. I've been here for 5 years now, and I'm hoping my patience is now going to be rewarded. Good luck everyone.
Hi Fortitude - we still have until mid January before AIM cancellation and so we surely have enough time now to proceed with an RTO before then. As you say GC is fine when it comes to anything other than mining. I lost a fair amount on KENV and so am looking to recover it all through my holding in SMA. The profit margins on glasses of whatever sort are very good aren't they. So all 'looking' good as far as I can 'see'. lol By the way, I love that your opinion is 'buy'. Wish we could!