George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
The paying out of family money option would actually cost a fair bit less than $50m as of course Amit is the largest shareholder and wouldn’t need to actually need to be paid in those circumstances. I would presume that the brokers will need to check any proceeds to be distributed are from a legitimate deal as the company is not listed or regulated in any way. Handing out millions from unknown origins would be a big no no with all the anti money laundering and proceeds of crime legislation.
Welcome to customer service in the 2020s. A rarity to ever get the same story from two different people in an organisation. I made a point of putting in a complaint each time something was amiss or not dealt with correctly and had over £1k after a year from the mostly £25, £50 that were dished out to me.
As it is virtually impossible now to speak to someone senior to those answering the calls, I find raising a complaint is the only way to progress some issues. Here, you can’t complain about the veracity of what you are told regarding contact from Cloudtag - but if you are given two contradictory accounts of the position that is grounds to raise a complaint with the object of finding the correct version.
You’re right on the critical thinking dagenham. Problem is everything is so dumbed down now, and companies in general get away with blue murder in the way they treat customers in general because so many are virtually asking to be robbed blind or fobbed off with a holding response or complete baloney and just accept it.
Perhaps I was wrong about them previously looking at the website…..but they’ve looked now judging from the latest response..
All the HL communications shared here seem to be customer service reps doing their best to be helpful to eager enquiries. I picked up one reply yesterday as being plain wrong in referring to the ‘offer’. A high level communication would carry some weight. When all is said and done this is a very unusual situation for HL. They are set up to deal with corporate actions from listed entities and even the lowest tier such as the Aim has some regulation and a Nomad to sue if they are left high and dry. I bet the compliance and risk managers are scratching their heads over this if they have read the last dozen or so Cloudtag updates.
10:53 ‘the corporate action’ is just the terminology for an event such as the one you are expecting. In this case the event that HL has seen announced on the ‘official’ Cloudtag website and has just confirmed (in the very communication you say indicates heating up) that they have failed to get the pilot light going.
This isn’t about being bullish or bearish - it is just fact. I appreciate you don’t want to hear my view but others may be interested.
I think HL must mean distribution rather than offer. Par for the course for any so called customer service these days.
A bit underwhelming there with your ‘getting carried away’ hubba. Helx has already put a marker down for north of 300 mill..
In the absence of a means of contacting the agents Amit has appointed, I would suggest that by default he must personally (in his capacity as the sole director of Cloudtag) accept responsibility for receiving queries and notifications of change of address details in respect of holdings.
Several months back the promises were about publishing agent details but now the payment is supposedly in play this has not happened. You’ll probably guess what I think that means so won’t labour it, but I’m always happy to stand up for those whose interests are not being represented - here it is those who are holding paper and have doubts they will be contacted due to concerns about change of details and moving from nominee to personally held shares.
There are email and postal contact details and even a ‘contact us’ electronic form on the Cloudtag website. Why aren’t people using them to notify the company that they have legitimate concerns about the ability of agents to contact them with the information previously supplied or their change from nominee holding to certificated?
‘Just had a wee look on mobile..’
Best stick to your normal viewing on the old Amstrad via dial up then.
If payment doesn’t happen by the 15th of Dec - it’s not ever gonna happen imo. He’s nailed his balls to the cross with the latest update. But if it comes in, which I think it will then it’s all to play for come the new year re the daap sale - could be anywhere from $225m+ - hopefully north of $300m.
I can’t frame the above by Helx but I will repost it. Fair enough, it isn’t possible to prove the negative case at the moment and this acknowledges some reality (well, apart from the 300 mill).
10:08, that becoming yet another commercial update following on from that FInal Commercial Update previously released..
Just had a look at the days posts. I seem to be getting a lot of mentions from hubba (the guy who couldn’t work out how to filter until it was explained to him a couple of weeks ago) The veracity of Cloudtag and the payout seems to rest on the principle that various posters including myself are one entity and represent a ‘short’ interest here.
Fair enough if those are the stakes, I can guarantee if hubba is correct you are absolutely guaranteed a payout here. (Personally I’d hold out on putting a deposit on that Lambo)..
Arkon, not a silly question at all but if you want a silly answer read Mr Coffee’s post. Apparently you’re interests are laughably irrelevant as a businessman of supposedly sound mind negotiating a huge deal must protect the appointed agents from potentially having to deal with a few spurious enquiries and most importantly of all - teaching an old foe a lesson by basically sabotaging his own deal.
You really, really couldn’t make this stuff up - and they wonder why bystanders keep tuning in for the next instalment..
Interesting development. Amit has rowed back on an earlier announcement that agent details would be on the company website at the appropriate time. For those seeking to confirm or update certificated contact details the only obvious way of doing so is to contact Amit at Cloudtag. Seems rather odd to buy a dog and signing up to do the barking yourself. Are the agents some flaky outfit who couldn’t cope with their details being published? Are there any agents?
Contact from a broker regarding payment on a nominee holding and it’s nailed on. In the interim, the position for certificated holders is a red flag.
Helx, if you do get a payout here Friday (and I hope you do), for gawds sake put it in premium bonds - it is not come from any innate good judgement call (and I made many bad calls investing on Aim, luckily only surplus from successfully owning my own businesses/property investments so no real impact.
The question arising from the paid for research report (is anyone confident enough to buy one?) is the same as the similar situation earlier in the year discussed on the board. There is no doubt the sector exists and that it is a growth one hence why a commercial enterprise collects all the date available, packages it and seeks to turn a profit. I believe the term is data scraping, basically pulling everything off the internet. The question is of course; Is there anything new on Cloudtag or is it just what many have effectively researched themselves via Google - the positive results of which invariably come down to 100% what has been stated by Amit and 0% by any verifiable third party source. (I am certainly not suggesting anyone buys the report).
IF the deal is legit, renegotiating the DaaP sale price upwards is a bonus. However, the rather odd step (surely the original agreement would have covered monetary recompense for excessive delay for the unilateral convenience of one party as has supposedly happened) has the downside of leaving various possibilities for further announcements. If renegotiation is happening then a restructured deal could be along the lines of scrapping the licensing part of the deal in favour of a sale of the whole shooting match - with details to be announced at a later date. Should that happen, 99% are likely to call that out as bs - but of course, as always with no external verification, it would be impossible to prove the negative.
Either it happens and £50m is paid out by Xmas and about time for those who will benefit. If it doesn’t Amit is going to have to get very creative..
Steelbru, just the point I made earlier in the year. Most here talk about the potential CGT they will have if there is a pay day - but having paid CGT on my own business, property and share transactions along with dividend tax over the years some of the understanding made me realise a lot of commenters have perhaps been on PAYE and don’t realise CGT isn’t a bill you get presented with. You (or your accountant) work it out and report and pay it. To my mind, the supposed deal as reported would seem to be a dividend. I am used to calculating CGT and the payout here, as described, doesn’t literally seem to tick the boxes for it.
08:22. Yes, that aspect is completely overlooked with all the ‘who is whom and why are the posting’ and of course the focus on trying to make sense of the endless delay announcements.
My twopennorth; The original focus was on a physical product, the Onitor, for what ever reason that reached the end of the road - whether as a commercial proposition or a vehicle for Amit to raise funds.
The shift then was to IP and what seemed to me rather generic and vague business imperatives. Yes, obesity is a huge problem and remote monitoring and integration of data is a huge opportunity for freeing up hospital beds for some patients. In other words, just like ‘the climate emergency’ it is hot stuff. To my mind there is no IP or App that can bring about massive weight loss. As anyone knows who has tried to lose a bit of weight, not consuming the calories is key, about 4 hours jogging to burn off the effects of a pizza. Any App would require laboriously entering the exact weight and calorie content of the foodstuffs eaten - begs the question of a laminated card reminding the user what not to eat would be far simpler and cheaper. I also remember Amit talking about ‘energy expansion’ in an early update. I don’t think such a thing has occurred since the Big Bang?
I was not entirely convinced by the Onitor (and have no interest personally in using wearable tech) but thought it could be significant - based on what Amit claimed. That became the issue. Apart from identifying a problem, there was nothing whatsoever to my mind in the post Onitor direction of the company that actually convinced me there was anything tangible being done. Anyway, back to waiting for another deadline and questions as to why I’d want to post here.