Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
If you do buy...treat as a loss and forget about them. Hopefully every now and then you will be contacted by the company with a statement of sorts...and even better if one of those contacts is to inform you that it will be returning to the market in the next few years...or been bought out privately... Anyway the best of luck what ever you do....:-)
5.3 The Shareholders’ Agreement On completion of the Subscription Agreement the Company, Woodford and the Wales Fund will enter into the Shareholders’ Agreement. The Shareholders’ Agreement imposes a customary restriction on the Company to seek the consent of Woodford and the Wales Fund prior to carrying out certain actions once the Investment is complete. Also upon completion of the Investment, the Company is obligated to provide Woodford and the Wales Fund with such information as they may require pertaining to the Group. The Shareholders’ Agreement provides each of Woodford and the Wales Fund with the right to appoint a director to the Board. In addition Woodford will have the right to appoint an observer to the Board.
From the circular...days are numbered...hopefully... 10. Board structure and corporate governance. The composition of the Board will remain unchanged for the period up to Cancellation. However, it is a possibility that the Board undergoes a restructuring following the completion of the Investment and Cancellation.
All I am betting on JL at this stage is that it will come back abetter animal in a few years time or it will be sold on privately to a device company...once it has all its whistles and bells finished....That is all I am betting on. I am expecting nothing this side of delisting...if (and a big if) something does come a long I will review my position. But to me its lights out for now...and hopefully we may get some updates as a private company......we can but hope...
If by value you mean trade it for the remainder of its days as a public listed company...not sure as any % gain or loss will most likely be fairly rapid.But I imagine a few will try and trade it.... If you mean punt for a few years as a private company?....Possibly.......
Morning JL... I would think thats it....Not sure why they use 18 months as a time line...but I am now only expecting some updates after the full year....which I think comes out within 6 months of year end...other wise...no news updates on anything really... No updates on financing, developments.....if warrants have been taken up....would not even expect anything on the 2sd investment round... The company has now in effect gone private, albeit in a few days time... Management changes or any of the above have to made public anymore..
Well it looks like Ortho and LPS may be following some of us back into a private company.... http://www.spheremedical.com/investor-relations/share-holder-information/shareholders
What were you expecting JL? It was a formal meeting to vote for cancelling and going private. Nothing else. They were certainly not giving updates for heaven's sake. Selling has been scaled back. I understand your frustration and share it. We now have about 7 days to sell..hold or buy. Based on what your view is. The board are most likely been given their months notice... But we now have £5m.....
Must be agreeing to opt out of cancelling and begin paying a dividend with immediate effect...if it was a Carlsberg AGM...lol
They must be going for after close release perhaps... Would be like the board..
Morning JL..... Off out to work now....will throw an eye on the market when possible today.....:-) Woodford put in around 5 Million at 16p...and then topped up lower then that...perhaps another £2 million to have his average at roughly 11p...DYOR clearly...but around that... He is putting in another £4 with this CPS investment......so a rough total of around £11/£13 million..... I really would be surprised if he were to put in the figure you quoted.....in my view... Anyway...have a good day...talk later.....
Your current holding will still be valid but in a private company... The 2.82p is the price that Woodford and the Wales fund are buying CPS once the vote goes through for cancellation from AIM... You can subscribe for CPS at the same price but you will need a minimum investment of £5K In total they will be issuing around 280 million new CPS with around the same amount again in warrant form... Thinks that's it...:-)
I was thinking the same thing just now....It is also quite funny how quite it goes all of a sudden...:-)
HALO principle?????
Looks like mostly short term traders in now...or getting in position....
More traded today then on the rns announcement day???
But the financing only goes through if the resolutions are passed....company only has money till around the mid/end of September... CPS are priced at 2.82p....in the event of cancellation......
Sphere Medical Holding (SPHR) Trades 0.98 +0.38 (+62.50%) live: 2:08PM BST Buy Volume 15,007,645 Trade Low 0.60 Sell Volume 4,130,129 Trade High 1.10 ? Volume 0 Total Volume 19,137,774 Jeez....I have a trade showing a profit JL.....LOL..
Peer_is_amazing. 2.82p is the private placing of the cps........
Sphere Medical Holding (SPHR) Trades 0.78 +0.18 (+29.17%) live: 1:01PM BST Buy Volume 12,189,187 Trade Low 0.60 Sell Volume 2,305,582 Trade High 0.85 ? Volume 0 Total Volume 14,494,769