Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Tissier Le Matt, have you not heard of Closed Periods for Directors, where they may be in possession of material, inside information and are not allowed to trade in their company, until that information has become Public?
The share price has gone from 19p to 0.36p (-98.1%) in the last 4-5 years. The 10yr share price graph has flat-lined - It has no pulse - It has died. We all bought in to this company thinking it was a good investment and got that wrong and should consider our options and take responsibility for our actions. However, the Board seem to be here for long term compensation packages and not for the interests of their shareholders. How many times has Martin stated "... value add for shareholders", only for the share price to keep going down. Even in these times of extraordinary gas and oil prices, we are still not taking advantage.
What can we do about this situation? How many shares are required so we can force a General Meeting on his tenure? Can we build a list of holders? We also need to use the AGM to our advantage.
Thoughts?
This was almost 1 month ago. We have had volume of over 8 million shares from the free float this week!
Directors - 9.83%
Richard Cunningham 1,083,100 shares (3.66%)
Simon Crowther 868,475 shares (2.94%)
Alyson Levett 777,796 shares (2.63%) - (Now resigning)
David Firth 180,000 shares (0.6%)
[Nigel Hawkes 20,331 shares (0.07%) - Resigned)
Other - 50.5%
Herald Investment Management Ltd 4,031,450 shares (13.63%)
Alto 3,164,557 shares (10.7%)
Eiffel Investment Group (9.76%)
FCPI Fortune Euro 6.33%)
Gresham House 1,582,279 shares (5.35%)
Justin Waite (4.73%)
CLNs subscribed for @ 10P:
Herald Investment Management Ltd £1,250,000
Richard Cunningham £287,500
Bury £125,000
Antrak £125,000
Didier £100,000
Financiere de Laudro Visuel £37,500
The funds raised during the year provide additional working capital to facilitate the continued implementation of the Group's plans and will be applied entirely towards meeting the Group's ongoing working capital requirements. With the pattern of deal flow we are experiencing we expect to be self-sufficient in working capital terms in FY22 and can therefore start a prudent series of investments in resources to help us accelerate our growth.
Number of shares in issue: 29,571,605
Director shares (inc Alyson Levett who is leaving company): 2,906,889 (9.83%)
Other major holdings: 14,933,661 (50.5%)
Free float maximum: 39.67% free float (11,731,056 shares maximum). This number will include private investor holdings and will be much lower than stated.
1% of the company = 295, 716 shares.
3% of the company = 887,148 shares (notification purposes).
There also Convertible Loan Notes, issued at 10p, in 2 tranches, totalling £1.39 million
Key points:
- Appointment of new CFO, Drew Whibley.
- ***the business continuing to deliver positive progress***.
- The Company expects to release results for the 6 months ended 31 March 2022 towards the end of May 2022.
I have looked through all the previous RNS's since INX admission to AIM on 21/6/2018. These are the holdings that I can see:
Directors - 9.83%
Richard Cunningham 1,083,100 shares (3.66%)
Simon Crowther 868,475 shares (2.94%)
Alyson Levett 777,796 shares (2.63%)
David Firth 180,000 shares (0.6%)
[Nigel Hawkes 20,331 shares (0.07%) - Resigned)
Other - 50.5%
Herald Investment Management Ltd 4,031,450 shares (13.63%)
Alto 3,164,557 shares (10.7%)
Eiffel Investment Group (9.76%)
FCPI Fortune Euro 6.33%)
Gresham House 1,582,279 shares (5.35%)
Justin Waite (4.73%)
CLNs subscribed for @ 10P:
Herald Investment Management Ltd £1,250,000
Richard Cunningham £287,500
Bury £125,000
Antrak £125,000
Didier £100,000
Financiere de Laudro Visuel £37,500
60.33% of shares held above, so 39.67% free float (11,731,056 shares) until CLNs are cashed in and added at 10p+.