Member Info for blakeney

You should be notified by your broker over the next couple of days.

You can apply for as many as you want as long as you have funds available, but excess entitlements may be scaled back with any unsuccessful application monies returned to you.

Open offer entitlements cannot be traded or transferred so will not have a price appended to them on a portfolio valuation.

Saw a lot of this at the time of the last placing.

'further notifications' that is.

Morton Family Trust.....subject to any notifications now the largest shareholder.

Totally appreciate and understand your frustration, I am sure that had they had an Open Offer it would have been supported. The apparent lack of participation in the placing, by directors and other significant shareholders, seems a bit odd to me given the potential for the company recently portrayed, and they too are subject to significant dilution.......or are they ? The company have always been very poor at updating such information.

I would much prefer to have half a sixpence rather than 100% of nothing so if the cash raised helps to achieve profitability then fine, but must admit that I'm well and truly on he fence this morning.

Positive interview...."number of very important discussions going on".

Preferred it when the updates were issued on a monthly basis.

........still not updated in respect of number of shares in issue, shows as 202 million.

Doubt if this figure includes the number of PI's who hold their shares in an ISA or other pooled nominee company name.

I can only hazard a guess as to why the clause has only recently appeared in your broker's T&Cs, maybe as a result of an internal review by your broker's compliance bods, or the FCA. If this is of concern I would suggest asking your broker directly. Could I also refer you to the FCA's website which provides more information on the subject including current levels of compensation, if the subject continues to trouble you, and subject to the total value of your portfolio, maybe you should consider splitting your portfolio between several brokers. If however you are happy with your current broker apart from this issue, then transferring elsewhere is unlikely to do you any favours.

The clause you refer to is standard within the industry, 'custodians' mainly refers to overseas entities employed to look after securities which cannot be held domestically here in the UK, mainly via the Crest system. As far as UK equities are concerned shares held via Crest merely records the number of shares held in your broker's nominee name in any particular security as it appears on the company register, and fraud apart, which you are just as likely to be a victim of in relation to your bank account, the chances of any shortfall occurring as a result of the default of a custodian are zero as long as your investments are confined to Crest eligible securities.

Hope this helps.

Confused why this 'old news' has suddenly become the topic for an RNS bulletin when no previous reference has ever been made to it, as far as I can see at least.

Certainly a bed & ISA, probably a holding acquired via the placing, interesting that it represents a smidgen short of a 3% stake in relation to the enlarged cap, then again maybe not.

I can see clearly now and feeling good, for once in my life I feel fine, on top of the world and just don't care what the weather man says. It's been a hard day's night and a helter skelter ride and I'm down, but if I were a rich man I'd invest just a little bit extra money more than this if I could. I believe I should keep on for I think we can work it out as time goes by. I'm wishing and hoping that I'll get back on the road again with a little bit of help from my friends, I'm gonna be strong and little by little Mr Blue Sky will surely shine bright like a diamond (or two). Put yourself in my place and let's stick together until the bits and pieces are signed, sealed, delivered, but hey baby, if the sun ain't gonna shine any more, that's life !

The new shares resulting from the capital reorganisation are due to be credited to Crest accounts today.

Anticipate news of the placing to be announced very soon as this was the whole point of it.

£250k just a figure plucked from thin air, no wiser than anyone else on this board. Since my earlier post I have registered my interest in any future placing with the company's brokers, and they were very helpful. BRD remains a high risk investment for me (unlike RBS, BT, Marconi etc which all all cost me a dollop) but the 'potential' upside has been well covered on this board.

I am merely trying to help by clarifying what can appear confusing, the bit that is not allowed is issuing new shares at a price below the nominal value. BRD are therefore reducing the nominal value of the shares in order to allow for any future placing to take place, which would likely to be at a price below 1p based on today's price of 0.55p. The buy back of the deferred shares is quite in order but if you check how it will be funded you will see that they do not have any value and will be cancelled by the company.

Trust this helps.

The deferred shares in such cases are worthless and merely written off, they are purely a vehicle for reducing the nominal value of the share in order to facilitate an issue of new shares at a price below their current nominal value, which is not allowed.