Member Info for Bismarck

I agree it's not a done deal. Maybe 75 to 80% done, as reflected in the SP being 20 to 25% lower than the suggested offer price.

Were it not for the prospect of the offer, and the only option being delisted shares I think the SP would have dropped a fair bit further than it has.

The choice will be accept 2.6p or hold delisted shares which are practically impossible to sell

BPat

Remember this post you made about me on 4 Nov? Care to comment now? -

RE: Boiler room gang4 Nov 2024 20:22

Here is another one of your crystal ball predictions Bismarck posted just last week:

“by end of q4 i think they will be insolvent and share dealing suspended…”

Underplaying your role in the smear campaign I think. No doubt you’ll be here posting after year end, telling us all we didn’t understand the meaning of your post..

Thanks Trek. I've dipped toes into water with TXP.

It may interest you to look at Global Ship Lease. US listed UK company, P/E of 2.6 and making approaching 50% net profit. Divi of 7.3% and divi cover of ~X6. If you go to the GSL.US chat room on LSE I've posted numbers from Stocko there. I've no idea why it's so cheap. I've been invested for about a year now. Could be debt free within 3 years at the rate they're currently paying it down, unless they buy more ships in the meanwhile. I'll make no predictions about SP but It looks to me like they have a licence to print money!

M/Cap £673m (GBP)

E/V £1.05b

12m forecast rolling P/E 2.6

Divi 7.28%

Divi Cover ~X6

P/Book 0.65

Revenue 2023 $675M, 2024E $707, 2025E $677

Net profit 2023 $305M, 2024E $365M, 2025E $327M

Cash TTM $224m

Net fixed assets TTM $1829m

Net debt TTM $488m - currently being paid down by $150-200m/year so could be debt free in 3 years

Well good luck with the gamble Goldinvestor. I agree it's odds on that the share offer will go through, but it's not a gamble I would take to make a potential 20% profit.

Not quite gone bust but no doubt they would without this arrangement. I agree. AIM is risky, Mining is risky. AIM and mining together is extremely risky!

I hope this works out for you Goldinvestor.

Alternatively, racing stars in Newbury at 12.30 today....

They have agreed to buy them in principle, but this is not guaranteed -

"Following completion of the proposed Debt-to-Equity Conversion, Nioko has indicated its intention to seek to delist the Company's shares from trading on AIM. Accordingly, in order to provide an exit opportunity for independent shareholders, Nioko has agreed in principle to announce a firm intention to make an offer for the entire issued ordinary share capital of the Company that it does not hold at a price of 2.6777 pence per Ordinary share (the same price as the Debt-to-Equity Conversion), as set out in more detail below. While discussions are continuing, there can be no certainty that any firm offer will be made, even if any pre-conditions are satisfied or waived. A further announcement will be made as and when appropriate. Hummingbird shareholders are strongly advised not to take any action at this time."

Interesting tip Trek, thanks. From stocko their forecast revenue for 24 and 25 is due to increase dramatically and they're forecast to be in profit for the first time since 2021, but their SP lowest it's been since 2021.

Revenue - 2023 $36M, 2024E $83.3M, 2025E $119M

NP - 2023 $10.5M loss, 2024E $12M, 2025E $9.74M

Do those numbers look like they stack up to you?

You mean 2.7p

They can still hold shares when delisted, but if in an ISA your platform will automatically move them to a dealing account once delisted.

Holding them in a SIPP can cause complications if the pot ever needs to be valued, although with abolition of LTA that's now less of an issue.

I have delisted shares in a dealing account. They'll just sit there. Hopefully the company will eventually pay a divi or be taken over.

"They could not even afford to participate in PAF

That was a big clue"

That was my cue to dispose of the few remaining shares I had

"let's be clear here - the assets are being stolen, period."

As I see it the bank are taking the assets for peanuts because they can. Hummingbird have run out of money and with no other viable funding options available they either have to accept or go into administration. This being lesser of two evils.

Odd that people are selling this morning at 1.8p when they will be offered 50% more than that?

Under the proposed debt to equity conversion Noiko will have 71.8% of the voting rights

Ok, so when this is delisted, holders can either sell at 2.6p or hold. Why on earth would OTC shares now be trading at 6c, unless they failed to read the RNS?

Bushy

You'll have to explain to me about OTC trades going on now?

I understood over the counter was for delisted stuff where sellers and buyers are matched, like buying a car?

How is this happening to a LSE listed share at 21.00?

I assumed all had to go through lSE 0800 to 1630 when listed?

Guvvi,

So do I, but I'm on the board so I get a say in how the company is run, I get monthly management accounts and regular divis.

None of those apply to PI's with shares in Hum

Bushy

What makes you think it will be easy to sell OTC in 12 months? Have you tried to sell a share OTC and got a favorable price before?

Oh, and don't take any notice of people posting on share chat boards. Make your own decisions or invest in funds!