Firering Strategic Minerals: From explorer to producer. Watch the video here.
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Well, that's the end of Velocys.
Had high hopes for them, but as usual shareholders fund the development, then it gets taken private at our cost.
All too common. Can't even say "last one out switch off the lights". The new owners will keep the lights on... for a while at least. We're now relegated to observers.
Hindsight is a wonderful thing. I could have sold out with a decent gain several years ago, but I thought it was just the start of a solid future building. Oh well.
Is there anything else we can do? Or anything else we can do to ensure this was a fair process and all Ts are crossed and i’s dotted. Something does feel seriously odd about the lead up and the process. Especially if there’s any back handers or inside dealings
It's time to walk away, the deal is done.
No way of voting if you're with Trading 212. The whole process has been a stitch up.
I couldn't vote, my bank didn't send me any information and found nothing online. I was just wondering, isn't the CEO feel ashamed? If I was running a successful company to failure, I would feel embarrassed that I couldn't achieve, especially with a company with big future and potential. Not a good CV for him either.
AnnaB, from the money he has filtered out of Velocys, he can afford the best therapy.
@annab what platform or broker/bank did you use to acquire shares?
@everyone else - what is the logic of the major shareholders who agreed who still will virtually make back nothing ?
@ControlzFreak
If what happened here were in any way "usual" then I guess nobody would (ever) invest in anything?!
Yes, shareholders have been screwed big time. I think the root of this ugly situation is that Abramovich's fund (with suspected Kremlin links) owned a large position. I think that is why a lot of big banks, institutional investors, et al have been afraid to touch VLS with a 10 foot pole for the last couple of years. The little guy (retail investors) have been collateral damage in a stinking political s***show.
@MarketViking
A few of the companies that I seem to remember going this way, being taken private at the expense of shareholders:
Sirius Minerals
Carillion
Interserve
4D Pharma
Restaurant Group
Presumably the new owners all saw future profit.
Similar story with AMTE the battery firm scam. A group of investors have got together to expose their scam dealings and the same should be done to Velocys. Total scam company who have robbed loyal and trusting investors. Anyone agree?