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Mkx - GGP was be far the most significant holding in value terms. As far as I understood things we are likely to get a distribution of (most of?) their holding of Ariana shares at some point once the liquidation is completed. The remainder of the shareholdings they have/had will be sold but only realise a small sum which essentially covers the c£10k costs of the liquidation. Depending on the detail/prices realised, the liquidators may either also need a few pounds of a few Ariana share sales to cover their costs before we get the in specie distribution or there will be a v v small surplus from the realisation of all the other holdings which we would also get in cash - but if so, it will be pennies.
Got mine too - anyone know what's happening with the rest of their shares...there's a few interesting ones in their portfolio that I'd like to have added to mine. GGP can't be their most significant holding surely.
Mine, too.
Straight into the ISA, which was a welcome surprise.
GGP shares have now been posted in my Interactive Investor Account. Have not seen anything yet in my HL account - but no doubt will show up in the next couple of days.
Announcement on company website
Starvest, the specialist mining and resources investment company, is pleased to provide an update on the Distribution in Specie of its Greatland Gold plc (“Greatland“) shares.
Following Shareholder meetings in November and December 2023, the Company entered into a Members’ Voluntary Liquidation on 20 December 2023 and Michael Solomons and Andrew Pear of Moorfields Advisory were appointed as Liquidators of the Company.
Part of the liquidation of assets involves the Distribution in Specie of the Company’s Greatland shares to Shareholders.
Notices is hereby given that the allocation date of the Distribution is set for 19 January 2024. The final ratio has been calculated at 1.32973066 Greatland shares for every one share of the Company. This is against the previously advised approx. ratio of 1.33 Greatland shares for every one share of the Company in the Notice to Shareholders on 27 October 2023.
It does not appear to mention any other shares e.g. Ariana.
So it's been approved today, so let's see how quickly we get the GGP and AAU shares, and as Zarro said, maybe a bit of cash as well.
I first invested in SVE on 5th October 2017 . My best ever trade (I'm sad enough to run a spreadsheet) was a 10k share buy at 1.99p on 20th November 2018, sold at 22.05p on 21st September 2020 for a 1004.4% gain.
Overall SVE has been good to me to the tune of £140k.
GGP (where I first bought on 8th February 2017) led me to SVE. and GGP has been extremely good to me as well, and hopefully will still be in the future.
And apologies again. The second meeting is 20th December. Liquidators costs are only £10k (+ rechargeable expenses and any unforeseen items) which feels quite low and suggests to me that: (a) there might be a couple of quid left to distribute as well (b) more importantly, that it is not expected to take long before the in specie share distribution off GGP and Ariana shares.
So farewell SVE.
Made a few bob and looking forward to making more with GGP.
Nd
Apologies for earlier misinformation. Upon checking I see the 2nd general meeting (to vote on resolutions to liquidate the company) is not until 11 December. (the 28th November is when shares are de-listed.)
Thanks Zarro
Out of interest Ariana have a presentation on 30th Nov.
From their RNS
Attendance at Mines and Money London @ Resourcing Tomorrow
Corporate Presentation
Ariana Resources plc ("Ariana" or "the Company"), the AIM-listed mineral exploration and development company with gold mining interests in Europe, is pleased to announce that it will be attending the Mines and Money London Conference @ Resourcing Tomorrow, which takes place on 28 - 30 November 2023.
The Company will be available to meet existing and prospective stakeholders and all other interested parties on Thursday, 30 November in the Angel Suite Conference Room at the Hilton London Angel Islington Hotel, 53 Upper St, London, N1 0UY. The hotel is adjacent to the Business Design Centre where the conference is taking place.
The Managing Director, Dr. Kerim Sener, will provide a corporate presentation at 1:30 pm on Thursday, 30 November at the same location. The presentation will be made available on the Company's website shortly after the event.
To attend the corporate presentation or to enquire about meeting the Company on the day, please contact: arianaresources@yellowjerseypr.com.
VanVan - timelines not explicitly stated as far as I can see but they do say promptly after the appointment of the liquidator - the vote for which is on 28th I think. However, my general understanding (from other similar events) is that when the shares are de-listed they will disappear from your brokerage account (and you will feel poorer as a result). At some point the GGP and AAU shares will be credited to your account (and you will feel a lot better). My hope is by year end or end of January at latest (assuming that the liquidator has had time to prep the dissolution of a non-complex company and, in particular, is confident that the costs of doing so can be covered by the sale of all the other small shareholdings).
All the info you require is in the RNS 27/10/23
How and when do shares in GGP & AAU get distributed out interest
Onwards to oblivion (or GGP).
Nd
Resolution duly passed, RNS @ 12.39.
1st vote today at 12.00
9.555 to buy now,very tempted,seems a good way to accumulate some more GGP.
Current spread 8.24 - 9.8
Nd
As we were, completely reliant on GGP.
Nd
Hi - if the liquidation and capital distribution does not get approved - what would then be the outcome of this for a shareholder
I hope we have all voted in favour of the liquidation.
I just have via HL.
Nd
Hi Dan, Sorry I didn’t explain myself very well.
I think the market size for SVE is only 15,000
I think it is 10 times that for GGP
There’s only 58 million shares in issue.
If GGP shareholders suddenly started en masse selling GGP and started buying Starvest I think the Starvest price would rapidly rise to a level whereby it would far exceed the potential benefit.
For example if someone had 4million GGP shares you could probably get a quote to sell that amount. So say they sold them and tried to use the proceeds of that sale to buy SVE I doubt they would be able to get a quote for that amount. They may be able to buy them piecemeal in 100,00 or 200,000 chunks but each time they did so the ask price would probably rise.
To put it in perspective if you managed to get your hands on 3 million SVE shares you would own just over 5% of Starvest.
The idea is good in principle but only for relatively small amounts.
ATB
Halifax share dealing wont let you trade in SVE shares,and some others inc MAFL. If GGP get to10p i will be a seller,under8p a buyer. bol DL
I calculate NAV at closer to 16p so 60% upside imho…
Hi Dan, the problem is the liquidity of SVE. I don’t think it would take much to move the Starvest price upwards to a point where it might defeat the object.
What your saying makes sense for tens of thousands of shares but maybe not for millions.
ATB