Member Info for Cnutgoestheeasal

Reading between the lines it looks like the controlling shareholder by cutting off the firm's access to cash is trying to push it into an artificial default. By doing so it could then cause the company to be liquidated and assets picked up at a song.

In short a heist that looks alarmingly like the sort of thing that would happen in pre ware Russia.

The oligarch wins we little shareholders lose.

We'll never know. Once SHG gets sold it and its accounts pass through a veil beyond which we mere mortals cannot see. The same goes for any envelopes brown or otherwise that might get passed from SHG new owners to obliging government ministers and officials.

The speed a which both the Kenyan and Tanzanian authorities have given permission for the takeover is mighty impressive.

Given that African governments have a reputation for sloth and indifference I'm wondering what incentives were put in place for such a speedy response....?

I can't remember from the original RNS, if Vale withdraw does that mean they maintain any residual rights/claims over the areas they have drilled?

Anybody remember?

Now over 6% with the average price in the latest RNS 14.15

Interesting

I for one will lodge a formal complaint (much good it will do me I know!) if they fail to announce the results by start of play tomorrow.

Disgraceful!

Alternatively they've lost and are figuring out what to do now! Either way they need to get out the RNS. It's ever so slightly price sensitive...!

Why? Because if people sell up at the last moment before the vote their votes will be omitted from the Thursday count.

Hence why a seemingly inconsequential RNS like today's is pumped out. All designed to confuse and discourage

Please everybody stay invested until Thursday if you can - you can always sell once your vote is counted

Hail Caesar!

I'd generally wouldn't believe the prognostications of most hacks. Since most papers have culled the majority of journalists they tend not go out and do their own research but are willing recipients of information provided to them which they gratefully recycle. This allows corporates and their publicist sidekicks to send in press releases which are then released almost word for word as "news".

Remember the original burst of articles when the original offers was made in December?

Troubled miner Shanta receives takeover offer from white knight etc etc.

Well that proved really accurate didn't it!

It should be obvious to anybody that the bid has been overtaken by events, principally the gold price particularly when it was too low to start with.

That's why Eric and the rest are firmly in their bunkers and refuse to be interviewed in case they are asked the obvious question.

It's a marvel they can keep this charade up but who knows they might win?

I bloody well hope not!!!!

Same here - I'm sticking it out too. However, not sure we'll be going down with the ship rather having to accept the derisory 13.65 offer. At the end of the day it's better than nothing and I just don't go for the "next big thing". Momentum chasing may work for US tech but AIM junior miners? Hmmm

I just can't see the hedge funds accepting that but I just hope they will not give in to the skulduggery....

Note - this follows on from an earlier email chain

What happened to investigative journalism - eh?

Despite having recommended SHG twice in 2023 plus all the compelling points I included in my last email, there has been complete radio silence from the DT on this.

Well since then, the gold price has rocketed up, another stellar production quarter has been reported one, some very questionable RNS communications from the company have been made and finally an adjourned court meeting without explanation presumably because the necessary 75% approval was not forthcoming. Presumably the necessary votes are being massaged as I type.

Retail AIM investors are being right royally shafted on this one and the DT is clearly listening to the big money rather than its loyal readers.

What is the point of my subscription and quite frankly who cares who owns the DT because they can't be any worse the current incumbents.

Do your job and tell me why you are not covering the story. Is everybody really so fixated on the US AI/IT story that nothing else gets a look in? Or are darker forces at work?

I've already contact the telegraph and chastised them for not following up on my original request to cover the story. Happy to provide the text sent to them.

It was perhaps a bit strong but given their complete silence on the matter and given they recommended the share twice last year I can't help having dark thoughts about what is going on in the background and feeling they've let us and themselves down.

The boards of Viavi, Bidco, and Spirent are pleased to announce that they have reached agreement on the terms of a recommended cash acquisition

The Acquisition Value represents a premium of approximately 61.4 per cent. to the Closing Price

61% ARGHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH

Hmm thanks for the briefing on what the Patels can do vis a vis court hearings. Sounds like that's why they've gone down this route since the flexibility it offers to browbeat investors into accepting a lowball offer offset the fact that they had to get 75%.

I'm really hoping they will hold the meeting at then end of the month since I'm due to be flying back to the UK at around about that time and am wondering whether a special request to BA could be submitted to the effect that something heavy might accidentally fall off the plane and land on a certain building in Guernsey where a bunch of ne er do wells will be gathering.

Now that would be poetic justice!

I'll send something off too. Again if you could post a skeleton version of what you think we should send, I'll personalise it and send it off to the address below too. Many thanks in advance.

Btw I don't normally sound off about the gold price since it's a pointless exercise in relation to AIM junior goldies but I do note gold seems to joined the altogether asset party tonight which might make negotiations between the Patels and hedgies interesting!

If it get's to and stays around$2100 for the next week that'll make those south asian lowballers sweat.

Serves them right!!!

Some have suggested that the Patel's could switch to a simple 51% majority vote format. Clearly they don't want to go down this route what with the restrictions imposed on them by doing this and the time delay resulting in RNS releases showing what poor value their bid is.

The machinations yesterday just showed how contemptable we PIs are in their eyes and not worthy of any respect.

Mind you sending a bod to Guernsey won't be cheap either in £sd or time spent....

Ooh and I tried buying and selling shares.

Results - you can sell as many shares as you like at 13.21 but they don't like you buying. The price goes up the more you want!

further agree hungrygull. for the avoidance of doubt we are in a game of poker and you don't show your hand midway through. anyway it's really out of our hands now. the big boys (hedge funds) are no doubt in direct communication with those that thought they were big boys but embarrassingly for them have proven to be anything but.

at the start of this process i had horrible dark thoughts that the patels had it all stitched up and the hedge funds would go allow with the lowball offer and be paid in backhanders later.

clearly that is not the case and their nice little stitch up has been blown apart. it's nice for once to now we are now on the same side at the hedge funds and that market rules apply even in aim. what they negotiate with the patels we will get too.

if the patels can't or won't pay the hedge funds won't be having any bluff called. they will either force the existing board or get a new reconstituted one to launch a formal sale process. yes there will be a lot of ****ed off people including tanzanian bigwigs but as has been pointed out below they can't be seen to be openly venal as they need to attract fdi for development.

i say hang tough don't give your price away since the patels might try and split the pis away from the hedge funds. there still trying to keep us in the dark by giving no details of the adjournment (but we can guess why) and in the meantime time is on our side. drilling and operational updates will need to be published soon.