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Can someone please explain this in basic terms to me?
Am I being asked to vote and approve handing over my shares to a new company for the value of about 0.07p?
Or do I actually manage to hold on to my shares but in a new company that will have Directors who were happy to drive VDTK into the ground so they could get it on the cheap and dilute my investment to the point it’s almost worthless?
Decisions, decisions…
Roger65
Verditek will sell all of its assets for £50,000 in cash and cancellation of its loan notes.
You keep your Verditek shares which no longer has any business or assets but it retain it stock market listing.
A new management team may put some cash into Verditek and try and find a new business venture to buy.
The alternative is probably insolvency and you get nothing for your shares.
Thank you.
I have over 7m shares here, bought over the last 4 years, and they are almost worthless now. Over £100k down.
I’m left with little choice it seems: accept I’ve lost the lot or take another huge gamble that someone might actually be able to do something with this technology and the products which are excellent. Seems Gavin Mayhew might be at the heart of a new team taking it forwards. At least he put some of his own money into VDTK recently.
What ever happens I just hope and pray Rob Richards will not be involved.
Dare I ask what others who still hold shares here will do? Feeling gutted even though I knew something like this was inevitable.
Heavens sank Roger, I really do feel for you, as no matter how much money you have £1000.000 is a lot of money.
My £2000.00 is bad enough to losee for me. Main problem with Verditek panels is that they are far more expensive than the competition. Also why spend so. Much on R&D if you are not selling the ones you have developed, and getting cash into the business.
History has taught us that this management are not to be trusted which means we should do the opposite of what they request.
I fear there may be deal costs that, in the end, mean the shareholders are completely wiped out.
We either almost certainly lose everything and vote to allow them a few more lavish holidays or we certainly lose everything and take them down too.
Which do you prefer?
I'm amazed the stock isn't much lower today -maybe I'm missing something.
I’m amazed Lindab or MErrotile aren’t making a counter bid of £1.5m. For the IP alone it would be a bargain