Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I am accepting the 0.65p. Even if PJ doesn't get the 75% this is going nowhere in the short term now with MedDeb selling. What has happened here really encapsulates all that is bad about AIM. Such a shame. They need to revise the rules governing AIM companies. It seems so easy for directors to manipulate proceedings in their favour at the expense of gullible shareholders. I certainly fell for this one. Personally, I am waiting for the dip in FLOW and put my money there. I am very confident that I will recoup my XPS losses there in the next 12 months.
Scott, since you asked. FLOW. I bought before Christmas and tipped it in the link on 4th Jan. Very good so far. http://www.lse.co.uk/general-chat-discussion.asp?page=3&TopCode=IT7PI1EF
Well just make sure you give it a nice trim before posting the photos :-)
.... but only about the prospects of the nudey shots. The SP is going the wrong way!
I am hoping for increased offers to take it to 1p. I think that is reasonable to hope for. I personally will still lose on that but would accept it because I think that will cut most PIs' losses considerably and take some back into profit. But I think a lot will depend on what price MedDeb are looking for...
WOB, you said naked photos if it doesn't soar. I expect at least a snap of an ass cheek if it isn't above 95p :-)
There will probably still be some resistance at 93p. SP needs to break that.
If shares are bought during the offer period by PDJDidco (offerer) at a price higher than the offer price, then I believe the offer must be increased to that price. Not sure if PJ may have transferred to that company so that he can buy more directly from the market above 0.62p (in his name) without increasing the offer or even if that would be legal. It would certainly be unethical but.....If he could get away with that I assume he would still need to declare when he reached 1% (in his name) during the offer period so he wouldn't get many that way. More likely other investors are buying those and so improves chance of an increase in the offer price...IMO
We win either way :-)
Good news, isn't it? New broker ratings issued today also, both buys, Jeffries with same target of £1.10, Panmure Gordon with reduced target from £1.46 to £1.39.
thanks for teh link. Maybe that is why MedDeb just increased their holding to 10%. They averted the compulsory buyout but are prepared to hold the shares in the delisted company (if that happens) since the delisted company may still be profitable to holders in future.
You could in theory sell them, if you can find somebody who wants them, through a private broker I think. But you are right we would be stuck with illiquid shares. As shareholders we would still be entitled to see company reports etc. Not sure but maybe we can still go to shareholder meetings and heckle Peter Jones from the back. It might be worth 3 grand for the entertainment if we could do that.
ccrobins. I invested a similar amount as you. Be aware that MedDeb have bought more shares above the offer price and currently have about 10%. If they don't accept the offer (and logically I can't see why they would when they just paid 0.65p since the offer) PJ can't get 90%. Threadneedle Management also had about 5%. Depends what they do. PJ is relying on uncertainty and fear. He is bullying the shares out of minority holders. But also be aware that if enough holders give up he has a chance to get 75% and then he can delist the company. You will still have your shares but no direct means to sell them. I'm sorry, I'm afraid no-one can really tell you what to do for the best. It's up to you but I am not accepting the offer. I will sit and do nothing and see what happens. I don't want to lose 3K either but I don't like being bullied and blatantly ripped off, especially by a Commander of the British Empire.
Thanks to all recent posts re MedDeb etc. I am sitting tight and letting this play out. I have to say I don't have the large amounts others have put in here put still stand to lose a few thousand if I get stuck with illiquid shares, but I am prepared to take that risk. If enough shareholders hold tight and MedDeb are buying PJ will struggle to get the 22% from the offer alone.
Two things I don't understand. 1) Why are people selling to the market for less than 0.62p when they can fill in the acceptance form and take PJ's offer of 0.62p. 2) Why are people (or maybe one person) buying these above or on the offer price when the chances are they will have to sell all back at 0.62p or get stuck with illiquid shares?