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szynd, I was just guessing that the 'possible alternative transaction' was a distribution deal and they suspended trading until it was formally announced.
I was conjecturing that the suspension was in relation to the part (which I had not seen before): "...The Company is now in discussions with rail and port operators to co-ordinate possible shipments to potential customers.” and that they were going to announce a deal with some off-shore customer(s).
looks like a straight distribution deal: "... The Company is in discussions with ACG in relation to a possible alternative transaction involving ACG. Atrum secured the rights to sell up to 100,000 tonnes of anthracite from ACG. We arranged laboratory testing of the anthracite and the results , confirming its premium quality, have been sent to numerous European and North Asian anthracite buyers. The Company is now in discussions with rail and port operators to co-ordinate possible shipments to potential customers.”
HM, Now that this charade has played out, I would not at all be surprised that we now get a ludicrously low offer from either the mysterious Micro or some other obscure entity since, I suspect, we have been masterfully prepped to be grateful for any crumb. One thing for sure is that ATC will gradually disappear into a fog of SB illusion and someone will make off like a bandit. But, like you, I can only shake my head in wonderment at this whole saga.
".....It was highlighted by Atc that the minimum now paid must be the same as what SB got." Never actually saw that, but my lingering feeling of about to be shafted remains. I would love to walk away from this festering infection of a shareholding with a 50% loss (which I will do if the mooted price comes to pass) and feel like a splinter has been removed from my foot; but, I must say, that the sheep-like attitudes exhibited by shareholders in reaction to the obvious gross manipulations of a bunch of shysters has left me despairing of this type of behaviour ever been called to justice. I have convinced a tele-journalist friend of mine to look into the story of AIM related manipulation using ATC as a case-study, I just hope that it will be effective.
I would agree that the Micro offer will quietly disappear as S Best must obviously deliver our company to those who have given him a significant shareholding in their company. Can you imagine him not having any financial interest in whoever acquires ATC? because, except for the millions he has already engineered for himself, he has obviously planned to continue to milk as much 'blood money' as possible for himself out of those holes in the grounds that we all invested our hard earned pittance in. I also would not be surprised that the price we are offered is significantly less than what our resident snake in the grass has received. I am no takeover expert but I do suspect it is no coincidence that the sale of his holding took place outside of and before the formal takeover offer. His exit plan has been orchestrated over many years of preparation. Of course, if one believes in fairy tales or karma, wouldn't it be wonderful if Blackrock (who do have a long memory) were behind Micro and had decided to put a bit of manners on our boy?
Thanks for that word to the wise, LedZep. I would suspect that any successful legal challenge would have had the link removed, anyone who does a Google search on anything like "joesanders61 stephen best atlantic coal" would find an active link that is open to anybody., which is how I came across it. All I am doing is sharing some research I did in the public domain.
Take a look at joesanders61 link
https://***************************/2014/03/11/stephen-best-president-of-atlantic-coal-plc/
Ahh, just as I suspected. “The truth is always easier than a lie or an evasion - easier to deal with and easier to live with.” ― J.K. Rowling
You seem to have missed my original question: "Can you categorically state, on a public forum, that you have no relationship with the company (or it's officers) other than that as a shareholder?"
Who says others do? Historically many people have complained about the lack of response to emails. If they (the company) selectively ignore, or refuse to answer, legitimate questions from concerned bone fide shareholders just because they do not like the tone or tenor of the company it demonstrates (to me) a severe failing and lack of due diligence. I must also state, that looking at your posting history (starting Oct 2015 with all posts, save one, pertaining to ATC), I am highly dubious of your own agenda. But I am sure you will answer that with a dismissive 'conspiracy theorist' label. You certainly do only appear at uncomfortable moments for the company in their defence. Can you categorically state, on a public forum, that you have no relationship with the company (or it's officers) other than that as a shareholder?
How do you know Gaf11's email was from the company? If it was, they are very selective as to what they respond to.
They don't appear to respond to emails; maybe if everybody who is remotely interested were to email the question to vw@atlanticcarbon.com or enquiries@atlanticcoal.com a deluge might elicit a response.
shares? According to the final accounts as of Dec 31, 2015 Stephen Best had a beneficial interest (including spousal, Willoughby and Mount Charles holdings) in shares of the company of: 404,545,884, A Wison 241,954,506 and P. Chinneck 250,051,282 Now, suddenly he holds 1,573,819,819 nearly a fourfold increase post delisting And where did all those options/warrants come from? As of Dec 2015 total share options and warrants (some of which have since lapsed) stood at 489,434,061; now he alone declares a holding of 576,000,000 warrants. This reeks to high heaven!!!
TT, And who oversees the 30% rule? Would that be the LSE? Also do not forget that the Best transaction was conducted as a normal course trade and not part of an formal takeover bid so at what point does an average price calculation kick in? As regards being unpleasant to Master Best, I personally have nothing but contempt for the man and derive a certain degree of pleasure from being as unpleasant as possible towards him. I am intrigued by your mention of a second bidder, can you point me in a direction as to where I can find out more on that?
Just like everything that S Best and his merry band of 'brothers' have been involved with, I have a bad feeling about this potential deal. He and his slippery cronies have taken their seven pieces of silver by selling out their holding and have left the rest of us mugs at the mercy of Atrum with virtually no option but to accept whatever charity Atrum throws at us. There is not a snowball's chance in hell that we will receive anywhere near the share price that he and his bunch have sold out for. This whole charade of pre and post de-listing shenanigans has been a carefully choreographed script to maximise his 'cut of the swag' to the detriment of us mis-guided idiots. Shame on you Mr. Best! One can only hope that karma will prevail.
and where could one conjure up 25%+ from the following? http://www.atlanticcarbongroup.com/News/News/2015/Director%20Dealing%2026.11.15.pdf
You must be joking,"....we cant dilute whilst de listed.....", just because the company has withdrawn from the constrains of the LSE it still maintains it's share structure which can be altered at any time by the board of directors. Where do you think the recently issued 26.68% shareholding to Atrum Coal came from, Mr. Best's back pocket??
So it appears we are to be diluted out of existence before any re-listing takes place! These Bests are a slippery bunch, imagine how we could have profited if they had been working for the benefit of ALL shareholders. Reminds me of the old saying: " Go to bed with tigers and you'll wake up with scratches"