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I've just been on the phone to JP Jenkins to see if I can buy 1m shares. The guy I spoke to said that would be very difficult and he was more of a buyer at the moment than a seller. Seems like everyone is sitting tight and not selling.
the company does re-list in the US and has a value of $200m - what would the approximate share price be?
we're saying goodbye to a lover and hoping to meet up again in New York, promising each other it wont be long :) And it wont be....
Further to our announcement on the 24th April 2014, J P Jenkins is pleased to confirm that a number of independent Stockbrokers have indicated their willingness to help shareholders maintain their holding in Matra, and, if so required by shareholders, facilitate trading in these shares on JPJ. In particular, the following two independent stockbrokers have indicated formerly to JPJ their readiness to help any Matra shareholder in such circumstances. Therefore any shareholder who requires this service, should contact JPJ directly or either of the following brokers: Templeton Securities Beaufort Securities Kevin Reid ( Broker ) Sanjeev Verma ( Managing Director ) 020 7448 9800 020 7382 8434 50 Fenchurch Street 131 Finsbury Pavement London EC3M 3JY London EC2A 1NT
This all boils down to whether we believe MB plans to re-list in the US. My answer is a categorical yes because he will need to be on the stock market to access funding to grow his new $200m business. He will simply not be able to access the capital he needs as a private company. I will be buying more shares soon from whoever wants to sell them to me at 0.5p.
Even though I had two wins last season, they didn't cover my training fees. Backing my own horse though for those two wins did :) Winning a £30k handicap at Chester in June would have topped up the coffers but he got pipped on the line by three horses in a line. Gutted!
I can't make the meeting as I'm on holiday in the Middle East. My question would be under what circumstances would re-listing occur? They may answer this in the presentation before you have to ask the question. You wont get them to commit to timescales because it will depend on what they've got planned in the next 12 months and what the acquisitions might be that caused them to refuse to be locked in for a year.
Great 3rd place
This is the write up on Racing Post for Homer Run 'Back to back wins when last seen in December; looking better than ever; upped in grade' - not tipped but comes in with decent form which is what I always look for. Too often the Racing Post tip horses with no recent form and then (unsurprisingly) they come nowhere! Looks worth a cheeky each way to me
To answer your question from Saturday about buying more, I'm tempted but undecided at the moment. I want to hear the outcome from the meeting on 23 April and then see what price investors are prepared to sell at on J P Jenkins
Is anyone able to go to the meeting? I think BBB said he would be there but is anyone else going as well?
Well done yesterday with your horse - I part own a racehorse too, a top 6f sprinter called Best Trip who gave me some cracking days out last year and won twice. As a man who likes a flutter, I'd have a very decent wager on Matra re-listing. MB simply will not be able to get the capital he needs as a private company to execute his strategy. I'm happy to sit tight on this one.
He's currently 6/1 on Bet365 and he's GG.com's tip to win... I was looking at him this morning for a small flutter
Good call about all of us keeping in contact. Maybe a Google Group? It was good to read in the circular that they still plan to keep the website up to date for the shareholders and we'll still be able to access their financial accounts every six months to see how the company is progressing.
I'm reasonably confident they will re-list eventually to access additional finance to fund future acquisitions. Much more difficult to do if Matra remains a private company.
pretty consistent with my musings from last week. This is not a normal de-list and stuff the shareholders. It's a keep and hold for me.
as everyone else about this because I've got a lot invested here. However, I think there's a few things to consider: 1. The de-listing may have been the only option to ensure that everyone (including MB) did not lose everything if the RTO did not get completed in time. I know from experience of the work I do how long the due diligence would take on a big deal like this and six months is not that long especially after they found the title defects. If AIM was not flexible with their rules and permit the extension that MB needed, then he would have been left with very few options. 2. It is possible that they have another imminent deal lined up that was due to get completed within the next 12 months which is why they couldn't agree to a lock in. There could be a bigger picture at play here that we're not aware of 3. MB will be very concerned about the reputational impact this will have so I assume that he has only done it with very good reason. Do not under estimate how important his reputation will be to him 4. MB had to add a caveat in the RNS that it could not be guaranteed that they would re-list in case something went badly wrong. Put a guarantee like that in writing and they would face all manner of litigation if it didn't happen. 5. If MB intends to create a $200m mid size oil exploration business, he will need access to capital which will be extremely difficult if Matra is not publicy listed on a stock exchange 6. The circular should give us a lot more details and hopefully substantiate my theories above There's no doubt that this is much more risky now but there is also still a chance that this could turn out okay. Let's wait until Tuesday and see what the circular says
Can you post Gilly's post on here?
I have to admit that on face value, it's appears an odd decision to go private if they don't end up re-listing somewhere else. I don't understand what the rationale could be until we get more details. I - like everyone else on here - don't want to get shafted with this. I was at BDO's offices on Baker Street last week but wont be able to go to the meeting there on the 23rd as I'm in the Middle East. Interested to know if anyone else will be able to go?
Do you think the intention is to re-list in the US? If it is, then I may have been hasty with my conclusion.....