Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Spot on HH ....Suzy advised me before the offer was made that if there was to be one we would be offered the same terms as institutionals.....well she is true to her word but I've still topped up on the open market as 'once bitten twice shy'.....I've learned from the last one....the route is long and winding, full of dead ends and out of Val's control. I'm happy to have paid a 5% premium to be assured of getting what I need....but please all....continue to DYOR and if you're holdings in an ISA....don't even bother to apply
BW...Fred
Porky, you're Sat 22.23 post. Mentioning at the bottom ...the making of a bloody brilliant BIotech. Any Idea time wise when that may happen?. Just to help you In you're estimation, read the following RNSs. RNS 26 March 2019, Val 401 Update LOIs. RNS 14 Jan 2020, Val 401 Update. RNS 1 MAY 2020, Val 301 Transfer. Val 201 LOI. How time flies.
Whoops
SnootySnipes My broker Jarvis via invest desk just emailed me and said couldn`t do it
Didn`t want to open an account for execution only with TP for £3.3k bought on open market so VAL lost out
How many private investors have found same problem, be interesting to get more feedback
Let`s hope VAL get 2.5 mill as planned going to be a crucial week for shareholders based on what happens
Speak to TP 8am they may hold some for you for the day but email Suzy as well as she might have some suggestions as it was in the RNS.
Otherwise open market is only half a pence more.
'Independent financial advisers, stockbrokers or other firms authorised by the Financial Conduct Authority may apply to participate in the Broker Option, on behalf of existing shareholders and other interested applicants. As Turner Pope Investments cannot take direct orders from individual private investors, independent financial advisers, stockbrokers, or other firms authorised by the Financial Conduct Authority, should communicate their interest to Turner Pope Investments. Parties who wish to register their interest in participating in the Broker Option should contact Turner Pope ( info@turnerpope.com ) on +44 (0)20 3657 0050. Each application should state the number of Broker Option Shares that the interested party wishes to acquire at the Issue Price and should be submitted to Turner Pope no later than 8.00 a.m. on 4 July 2022.'
As the RNS states that priority will be given to existing shareholders, non-shareholders can apply but may not get shares depending on demand from existing shareholders. Equally, an existing shareholder who applies may not get as many shares as they apply for if demand is greater than the number of shares available.
A2B4C4 TP submissions cut off Monday 04/07 by 8:00am unless Suzy & co change change it?
You have to email Suzy for confirmation as RNS stated current shareholders can participate.
Suzy should then be able to help you further with the 10p placing.
Porky
Do you have cctv in my house? Lol
I agree.. Adam is the chosen one :) Nobody else comes close, imo
OB
I had the same problem on Friday , ref my post dated 01/07
emailed TP, Ben Turner emailed me said is certainly our intention to benefit existing shareholders wherever possible.I am happy to set up an ex-only account for you at TPI for a one-off trade to enable this transaction and cap our charges to you at £25. The time and cost to TPI of doing this is well above £25 but I am happy to do this for the reason set out above
As I did not want to open another broker account 3.3k declined bought on open market
Did not expect you to have the same problem, so who will be taking part in placing, the favoured institutions etc ?
I am a realist been in shareholder since 2009, Invested to help cure prostate cancer father had it could happen to me
Recently invested more based on promised TRX deal at end 2021 Something doesn`t feel right about the way VAL has set up / arranged placings
They need funds paid to them now yet risk potentially losing out on private shareholders funds
Are they are fully aware of the situation, have their own agenda or screwed up yet again?
What if the fund raise fails to raise 1.5 to 2.5 mil, or shares fall into wrong hands?
Could we be left open to a hostile low ball take over offer?
We have no idea exactly how much RX have raised so far or what they have achieved to date. Could they be working behind the scenes with USA investors regarding this?
Really hope I`m wrong fingers crossed
@OB
IMHO the only shareholder that i think Suzy and Kevin would take serious notice of is Adam. Even Nicks holding and the others are not as relevant. Adam pre this rise had 5.3m shares or 8.15% ownership of the company.
He knows this sector inside out. He cant possibly be happy about the THx debacle and the fact that no money for service fees has been collected despite the business needing it. Not to mention he has seen the value of his own holding crash from 38p on 5th Jan to 10p now and he needs to put more capital at risk. That's £2m value down to £500k. I mean I'm miffed to see my remaining shares fall from 150k value to 40k gawd knows what Adam is thinking?
So, the kick up the backside Kevin needs imo is someone of Adams status to encourage Kevin to get a grip of the THx situation but moreover, highlight that Suzy is NOT the formidable negotiator he thinks she is and that board appointments need to be made to strengthen the business so that these decisions are collectively discussed before implemented and mistakes avoided.
I personally think at least three additional directors should be appointed so that they form an executive committee of five on the board to properly evaluate and implement policy as required.
The only influence we have as SH is Adam. IF this remains as just the Kevin and Suzy show and nobody is appointed to the board to even challenge their decisions then they will continue to go on making the same mistakes and in 12 mths they will need another share issue to bridge more cash or they will dilute us along the way making acquisitions on stupid terms because neither Kevin or Suzy have any real skin in the game so it wont matter and neither have the commercial acumen to see the errors being made here. If you don't know you don't know.
Sorry if this sounds harsh but we have the making of a bloody brilliant biotech here but they have to recognise where they are weak and do something about it.
And when I suggested that people should register with the brokers so that they could take part in the placing people reported the post, and it was removed despite no rules being broken. Now people are complaining about having to pay more than the placing price... Just shows that the people complaining cared more about their overpriced shares than reality.
Mate; I've had the same problems with my broker, who won't deal with Turner Pope either. As decent as TP are, somewhat shambolic.
When TUI placed shares it was easy and straightforward to buy, with plenty of time given.
I'm finding Valirx to be totally the opposite. If you buy on open market, you'll pay 10% more than the likes of Adam and Nick, who I would imagine are buying.
@ ABftse
I want to but IG hasn’t come back to me yet. I was told on Friday that they will not allow me to buy via IG. So I added £1700 on Friday. Will add more next week.
Sooty
A man’s has got to do what a man’s got to do… you have some cheap shares chap (thumbs up)
OB
Porky
Yep I agree, so how do we PUSH TO MAKE THIS HAPPEN ???
AB, I expect the placing to be fully subscribed, however some folk are having difficulty, Halifax for example are not helpful, so I expect many will pay slightly over the odds on the open market for less hassle .
OB
Is anyone buying in the placing (10p share)?
Look we cant go on indefinitely extending the exclusive arrangement and certainly not without ANY payment of the service fees. That's basic business stuff. Its not unreasonable.
The logical move here would be to simply say to THx we will extend until X date. I would suggest 6 weeks and no longer than 12. At that point if you are still not funded we are happy to continue the arrangement BUT not on an exclusive basis.
If they insist on extending beyond that but only on an exclusive basis then we simply say OK but we need payment of service fees fully paid up to this date for us to consider further extension exclusively.
Then we start looking for other partners. If another partner can complete terms and the transaction before THx do then so beit.
Lets face it this is akin to finding a buyer for your house that wants to buy it but as much as they love your house and you want to sell to them they cant get a mortgage to complete. I appreciate that's a very basic analogy but this is what we are talking about here. VAL is not a charity, every penny counts and anyone can do work for free. This is not a short window, they have been trying to raise capital for over 9 months now and we don't even know how much they are trying to raise or seen any prospectus, that is not unreasonable.
It is us Shareholders that are effectively funding this. loss of perspective here frankly
OB, I agree with you 100%!
We can’t let time just pass. Something has to change and change quickly!
AB
One thing I do know is we certainly cannot wait much longer, time will run away and we could end up being here again in 12 months…
We should also expect results on these '4' tCROs they want to buy. Do they have any companies in mind? Why four?
Where did the expected revenues of £10mln within 5 yrs come from?
I expected tangible plans.
OB,
We should give TRX 6 weeks max. Another licencing would take months to arrange even before they start fundraising.
Hi CB
So the burning question for me is how long do we give TRX to come up trumps, we should have enough money to last 12months ….
So my thoughts are 4 months if nothing has materialised then perhaps it’s time to look at plan B, as the older one gets 12 months seems shorter and shorter, it will come around fast!
OB