Member Info for Bannor

..... it's not illegal here so can be used for anything....

Viably ......not vainly grrrrr

Obs a CLN is not a placing & you can't measure one against the other ... a CLN is a loan either repayable or redeemable if the price rises ... so the principal amount is secure against repayment ... or at the lenders option can be converted & sold if the price vainly rises above the conversion value ... that's very different to a placing for funds where you pay your money take your shares & pray for good fortune.... completely different set of risks.

Irrespective I don't think we have sufficient attractiveness for anyone to loan us funds against a CLN any longer & especially after what they did with & what I consider the calamitous outcome of the last...

I don't want either so my position for voting against resolutions 4 & 5 is unchanged.

Naked shorting is illegal in the U.S. (per Mrs B's link earlier) & on many other exchanges/countries across the globe ... not yet in the EU/UK ..... although it's been / being discussed ....

Obs your 18:31 - & exactly one of the reason I want to vote against ... discounting your outlandish view of the SP being manipulated up accommodate entirely cos it's rubbish in my opinion.

Obs .... excuse the expression but what a load of heifer dust - that implies manipulation of monumental proportion & irrespective of trading volumes .... Jesus & I thought I was the cynic & conspiracy theorist but that's more outlandish & surpasses anything I could have come up with .....

...there is no chance of a placing at a premium here Obs you should know that as well as I do .... I've only ever seen one at a premium & that was in a company that didn't necessarily need cash but wanted the investor & the investor wanted to take a large slice if the company ... wasn't a huge premium ...though premium it was... in our current position & finances it would definitely be at a discount just keep your fingers crossed in regard to how much - but again just my opinion....

...hmm you well know all of my reasons for being against the CLN that was evident from the very day they announced it whilst you & others were singing its praises.... Iskander were a poor choice & couldn't close the In any event & so desperate were they they allowed some rushed cobbled together replacement to proceed... they didn't need $15M to buy 4.5M shares to stand in the way of BCN's redom 'IF' that was really necessary ...subsequently in my view it's been a ball & chain around our ankles & a millstone round our necks ever since .. poor deal / poor decisions / poor performance.

...indeed there is often as much to be gleaned from what's not said as there from what is...... on the subject of naked shorting though this is exactly my point Obs.... if someone (a broker) has been selling KDNC shares .... say all the way down from .35 as it was last year at their own or under instruction shares that they haven't got & have no certainty of getting - then that same broker could offer us a placing today to existing 'investors' at say .175 .... we'd all go phew thank God it wasn't .15 & they suddenly have sufficient shares to cover their naked shorts & pocket the difference between what they've sold the shares they didn't have for & the placing price .... that could be anywhere between 10 & 100% for each transaction....

..... or of course it could be completely unfounded rubbish .... hence why I'd like to ask clarification from Kiran that one isn't imminent for any purpose...

.....actually I'd moved away from the shorting (naked or otherwise) of BCN & was thinking more of KDNC being naked shorted - hence my belief & concern there is already one planned/in the pipeline that has been forward sold ... I reckon Beauforts had one - hence our brief association until, fortunately for us, they fell over prior to it being taken ... & now Beaufort's clients may be looking to other brokers to help them recover ... this is one of the reasons that this year I would like to see resolutions 4 & 5 voted down .... but again it's just my thinking .... BoD get cash, shorts get closed, shareholders..... at best get diluted with a reduced potential value at worst ..... well..... the worst....

Hmmm we'll see perhaps another question for Kiran......

Obs ... how does your we didn't actually pay anyone for this reconcile to :

Profit before taxation was adversely affected by a one-off financing (£1.6 million) charge associated with the issue of warrants linked to the US$15 million convertible loan note issued during the year.

Looks like a cost to me but ready to listen if you can explain to me why it isn't?

https://www.investopedia.com/terms/f/finance_charge.asp

Obs - indeed by the 30th - but possibility in cribs & drabs as you suggested ... from the announcement on the 20th Sep:

On the 9 August 2016 REM announced that it had conditionally raised US$15 million through a loan note convertible into ordinary shares in the Company ("Convertible Loan"). The conditions precedent have been fulfilled. The Company will announce the completion of the Loan note agreement in due course once all funds are received. To  date the Company  has issued  US$6.5 million of the loan note.

Isn't the spreadsheet & declarations in relation to conventional shorting (i.e. against borrowed stock or ensuring the availability of stock) .... naked shorting is selling stock you don't have & haven't confirmed the ability of getting (I would think more in the realms of brokers who can sell stocks higher & then offer a placing in the company at a discount to cover the position) ... which is what I'm pretty convinced (me, myself my own thoughts) is what was potentially behind our association with Beauforts & still concerns me greatly .... I get how you must/need to declare conventional shorting as per links below but do not think it applies (or how it can apply) to Naked shorting because the stock doesn't exist in a naked short so how can you work out the percentages to declare??? This is the reason there's so much noise about naked shorting as opposed to conventional shorting.....

@TC also from the announcement is the below which infers to me the Start date wasn't necessarily the date of the announcement ... I recall delays at the time due to Iskanders inability to follow through & the subsequent patchwork deal put together.... regardless it was sorted by the 20th Sep which is when the purchase of 4.5M shares in BCN at a pound a pop was announced .... Obs said by Oct it is irrelevant ... can't see a snowflake in hells chance of them getting exercised before then...

-------

The Convertible Loan is conditional on the final approval by the trustees of Iskandar, which is expected to occur prior to the end of August.

From the announcement below it is 2 years for the warrants (which cost us additionally £1.5M to set up in case it's forgotten) ........ warrants are exercisable regardless of whether the principal is paid off &/or converted or not.
------------

In addition, each US$1 of the Convertible Loan has forty warrants attached with the right to subscribe to forty new ordinary shares at a price of 0.8 pence per share for a period of 2 years.

:-)) .... there there.... have another sip of your Camomile tea LoL

8) What is the current Cash at hand position?
9) Have we, in the last 4-6 weeks been selling down some of our BCN direct shareholding - if so how many at what price?
10) What is planned in regard to the CLN repayment or renegotiation?
11) What is the current position/thinking on the status of the San Luis licences?
12) Are you planning for, or already have, a placing lined up to either settle the CLN &/or fund Zulu interest in MAUCO &/or fund San Luis pending licences &/or general operating expenses?
13) Are discussions with Hastings over the Yangibana JV's on going or have they ceased..... has anything been agreed & if so can you tell shareholders?
14) Considering the current poor performance of our direct investment holdings are there any plans for divesting or increasing holdings in any of them & if so why?
15) Why in your opinion should shareholders vote for AGM resolutions 4&5?
16) & for balance why, in your opinion, should shareholders vote against AGM resolutions 4&5?
17) Are you aware of the current levels of shareholder satisfaction/dissatisfaction?
18) What is the boards considered opinion of the current political status & party in power in Zimbabwe - what are the perceived levels of risks considering the views & position of the current election winners?

@Degsie ... I personally think the more people who separately ask the same questions the more likelihood there is of it being asked & answered ... otherwise rather than selecting the questions 'most asked' there is more probability they'll select & cherry pick the ones they want to ask/answer .... so if any of the above are of interest or ring any bells for anyone here please also submit them via: cadence@brrmedia.co.uk

And then listen in via:
http://webcasting.brrmedia.co.uk/broadcast/5b5b215d06c7f84227ae9891

Might be interesting to get there views on some especially 16) as I'd expect them to sway people away from considering that by any words or means fair or foul...

I guess it's here you'd notice it .... depending on how up to date it is (needs or must be kept):

http://www.cadenceminerals.com/investors/share-information/