Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Every penny lost here will be recovered from the directors
https://tradingeconomics.com/united-kingdom/electricity-price
We could still unite and bring the board of directors to court to claim any shareholders losses because they rejected the Foschini bid without another resonable offer on the table
Because small shareholders are not legally represented nor informed. Only way to get some value out is by joining and get a solicitor. Without representation shareholders dont matter
Too late for this one in my opinion, its been done quick. Good example of financial engineering and dishonesty
Part from interpath's faq for shareholders
'' Will there be any future value in my shares?
You should seek advice from an independent financial adviser. Although the
Administrators will seek to maximise realisable value for the Company’s assets, it is
considered very unlikely that the shares will have any value in future.''
The bidding is ongoing but they already know there wont be any value left for shareholders... Couldnt be more clear in my opinion, even if any residual value is available its not intended to be paid this way.
And honestly, the hipocrisy of the message makes me sick
https://www.ft.com/content/e50c48a2-5b87-47fd-971e-fa9c3e20bb44
Joules Group (UK): Constituent Deletion
Changes in FTSE UK Index Series
14 November 2022
Following the appointment of administrators and suspension of trading in Joules Group (UK, constituent), please see details of affected indexes and effective dates below:
Index. FTSE AIM All-Share Index
Effective From. 17 November 2022
https://www.sharecast.com/news/Company-Announcement-General/Joules-Group--dl33107463.html
If that 21% will be worth a few tens of millions in the following years, then this transaction could be called fair. No details have been given regarding the private equity injection in Proteus.
It's my opinion as well that Sae has some good quality management, Usk included.. But not that inspired with their information disclosure policies
"The DoE has identified major potential for the development of tidal and current energy production, which at present is largely underdeveloped. The funding is expected to be released in 2023, marking the “largest investment in tidal and river current energy technologies in the United States,” according to the DoE. The government has already released a notice of intent announcing the new funding opportunity.
The sector will require greater research and development prior to the development of large-scale projects, due to underinvestment in the renewable energy source to date... "
https://oilprice.com/Alternative-Energy/Tidal-Energy/US-Increases-Its-Bets-On-Tidal-Power.amp.html
And SAE just sold its long expensive tidal tech experience for less than 1 mil.. Well done
I believe we run the risk of exaggerating the issue. A complaint to an authority is not a drag into a trial, that's what these institutions are for. Big shareholders can ask for reports directly from the company.
It's pretty clear that the company is witholding important information while it has a moral and legal obligation to inform. Should be all the evidence needed, the authority will asses further.
"CHAPTER 3
DISCLOSURE REQUIREMENTS
Article 17
Public disclosure of inside information
1. An issuer shall inform the public as soon as possible of inside information which directly concerns that issuer.
The issuer shall ensure that the inside information is made public in a manner which enables fast access and complete, correct and timely assessment of the information by the public..."
I would go with this one
"
Report a concern to the primary market integrity team
If you are concerned about disclosures by a listed company, please contact primary.market.integrity@fca.org.uk.
Find out more about how to make a complaint against an issuer."
https://www.fca.org.uk/markets/market-abuse/how-report-suspected-market-abuse-individual
https://www.fca.org.uk/markets/primary-markets/contact/complaint-against-issuer
Mention that you've talked to the company as well
""
..
(2)In determining whether information would be likely to have a significant effect on the price of financial instruments, an issuer should be mindful that there is no figure (percentage change or otherwise) that can be set for any issuer when determining what constitutes a significant effect on the price of the financial instruments as this will vary from issuer to issuer."
https://www.handbook.fca.org.uk/handbook/DTR/2/2.html
It can be assumed that the deal is bad for the company and that's the main reason details aren't disclosed. My guess is that the Ates division has been sold to a friend manager in a very good gift deal.
Details about are really needed and Sae won't offer any, that's clear as daylight.
Anyone with registered shares should consider filing that complaint to the FCA. It's difficult to do it under Nominee.
Rns has rules regarding content and timing..
'' DISCLOSURE REQUIREMENTS
Article 17
Public disclosure of inside information
1. An issuer shall inform the public as soon as possible of inside information which directly concerns that issuer.
The issuer shall ensure that the inside information is made public in a manner which enables fast access and complete, correct and timely assessment of the information by the public and, where applicable, in the officially appointed mechanism''
https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A02014R0596-20210101
https://www.fca.org.uk/markets/market-abuse/regulation
I do believe that selling the engineering division will be beneficial for the company in its circumstances but the way Sae disclosed it is not right, many details are deliberately missing. Proper disclosure is an obligation, not an option. A complaint to the FCA by a registered shareholder would make them more responsible