Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Hi All - I have just voted for all 4 motions through the Chairman to be voted on at the 23rd December meeting.
A little more info in the shareholder circular (https://www.summitplc.com/app/uploads/2019/12/201912_Fundraise-and-GM-Circular-FINAL.pdf)
"If Shareholders approve the Cancellation Resolution, the Company will seek to provide support to
Shareholders to enable them to convert their Ordinary Shares into ADSs prior to the AIM Delisting taking
effect. Shareholders should note that conversion of Ordinary Shares into ADSs must take place in multiples
of five. It is not possible to receive a fraction of an ADS, so in the event that this conversion is completed
after the AIM Delisting has taken place, there is a risk that Shareholders will be left with a small number of
Ordinary Shares (a maximum of four Ordinary Shares) which cannot be converted into ADSs. "
Chrisatrdg - bought online with Interactive Investor - usually have at least three options - market - limit - fill or kill . Just had the one option when buying SMMT - that was simply to state a price - I simply chose the current ask price.
Not sure if this answers you query...
Need more information of company intentions for holding ADRs in an ISA. My broker indicated that ADRs can be held in an ISA if the share has a listing.
If SUMM relist on NASDAQ or any other exchange, prior to the delisting on AIM there should no problem DYOR
metis20 - what was your vehicle for Buying SMMT ADR'S ?
Bought some SMMT ADRs into my Interactive Investor ISA earlier today.
Bought some into my interactive investor isa earlierr today.
Thanks Chris - I'll wait to hear more. On the face of it all seems reasonable to me. Bob Duggan previously bought $25m @ $1.60 (SP rallied) and now adding another $47.5M to the pot @ $1.45 (equivalent), fair enough. We'd all have liked to see another add @ $1.60+ but his contribution seems very welcome. Anyone hoping for a takeover shouldn't be disappointed either, buys more time to add more value. Be interesting to hear the logistics of the delisting. I hold my AIM shares in an ii ISA but not sure ADRs were allowed in it?
what i find most worrying today is Chipmunk1 post that got a rec , just shows the scum that frequent these boards.
Hi All - I think it is just a matter of waiting re conversion & feel sure things will become much clearer in the near future.What ever happens our UK shares are still 'legal' just not being traded on AIM.I for one will be moving onto NASDAQ once the route is known it is a question for the 23rd December meeting which I will be attending.
I’ve the same query .. and what are the fiscal implications also
If delisted on AIM - do our shares then automatically get transferred into ADRs? - sorry if this is obvious to others..
A lot of people are in the same position. Harbouring a long term loss. May as well stick with it as an alternative to complete loss. Duggan is no fool which does not mean he is always right but may as well continue with the punt.
Hi Chris, I sincerely hope it all goes well for you & if ridinilazole does get launched & it looks like the board are confident then well !! You don't need me to tell you.
ATB
Hi All Currently I have a huge paper loss so I will be converting to the listing on the NASDAQ & may top up latter if another of my investments fly.
Clearly Summit have hit their 'Last chance saloon' moment & I am not surprised at the timing as the 3rd Qtrs results are due out this month which would have been heavily qualified.
Feeling a little sore but better than a complete write off.