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Not being funny but Seriously Wimbledon….. that’s your take away ?
Cantor released the RNS - what they are holding has reduced whether it is on behalf of clients or not. Are we all being pedantic now?
12% down……. Not the way I thought THG would end the day.
So frustrating - and probably unnecessary. Seems someone is still forgetting their responsibility to their shareholders …… I do believe it is undervalued and I do believe it could come good in time but after years of disbelief and disappointment, I now ask if it’s actually worth the frustration…. I’m sure my headspace would thank me for bailing.
sono***un “ have they even signed the definitive agreements let alone pay what they owe.”
thing is, they don’t/won’t owe anything until signatures are actually on the agreements……. .. everyone is knocking proventure but maybe they walked away after doing their own due diligence - who knows. certainly the shareholders don’t….
i think if the agreements had been signed it would have been rns’d as mast already stated the the jv was contingent on the requisite signatures. there is a deafening silence from any/all proventure named companies and that is extraordinary. they have literally said absolutely nothing yet they showcase their agreements with other countries on their website. no mention of mast or the uk whatsoever.
i come back to the new advanced third party discussions mast highlighted in their rns when the funds did not materialise in november …..seems those discussions came to nothing as there has been no further mention of them. and if the jv with proventure was a done deal, why would mast be entering into further advanced discussions to replace proventure?
it’s all just so wrong on every level imaginable. and it didn’t need to be this way…
Cantor have just sold down their holding from 7.4% to 6.89%
Joe80 -
Thanks for the technical info…… it can be overwhelming unless it is broken down into bite sized pieces that are easy to understand.
Hope everyone enjoyed the festive season - Christmas seems a long time ago now. First thing my portfolio was more or less a sea of blue…..now it’s more or less a sea of red. Hey ho…..
Hopefully it’ll be a better year than 2023….. all the best everyone.
Cando66 - “ I could send a pigeon with £1 a time faster than these can do a transfer and get this JV sorted”
Now that did make me laugh - the choice of words is spot on but sadly it’s not a funny situation. This morning’s RNS is not the one you were hoping for but when you think about it, it is the same one you have been receiving for the last few months… …
Look to Mast…… this is on them. And just because it’s a holiday doesn’t mean communication is impossible. The RNS this morning was insulting to shareholders.
Https://www.telegraph.co.uk/business/2023/12/31/city-am-rescue-matt-moulding-hut-group-thg/
Everyone is so focused on Proventure being the bete noire here but I’m not sure Proventure - in any of its names/forms - could or will actually care less! They don’t seem to be involved in any way here. …… Not one notification, article, media interview, write up in any business rag/mag/ website - not even their own website…… is anyone aware of Proventure having anything to say on this JV at all? I’ve trawled every feed I can from mainstream to socials and I can’t find a single thing from them on this, either reported by them or covered by anyone else. …. be good if anyone has anything supporting their participation that can be posted here. And that to me speaks volumes.
Think it’s Mast that need to come clean with their shareholders about what is happening here because even the most stalwart supporters are right to feel aggrieved. Trust is eroding……
Signing off until Tuesday - enjoy the weekend and all the very best for 2024 to each and every one of you.
Yes DAVID.M but now it is RNS’d that signatures are required it’s a de facto precursor to any funds being paid. This is also from the RNS dated 23/10
“The JVA referred to above also commits both parties, as set out in MED's announcement dated 12 July 2023, to promptly finalise terms on a second joint venture. As such, notwithstanding the extension of completion of the first JVA as referred to above, the parties will endeavour to finalise terms for the second JV promptly.”
Finalised terms mentioned twice at the end. Most people only read up to the £2m then £3.9m figures and thought it was a done deal. Signatures required has become part of the terms that were. The RNS’s need to be read and digested in full. Mast are not the most transparent communicators, as you have seen.
I see from your earlier posts that you have perhaps been taken by surprise by the “shenanigans” here as you say this is now a long term hold for you. I wish you all the best with your holding.
Ornamental - They have made it clear that signatures are required…… without signatures there is no binding, enforceable agreement and therefore no money.
They also stated they were in advanced discussions with yet another 3rd party after funds failed to materialise from Proventure ( again, no signature no funds) so I think they have bought themselves time to kick the can even further down the road….. any company acting professionally would have called a halt to this nonsense in November …..
DAVID.M - the third option is one that you have overlooked. The payment of funds for the JV is - and I quote directly from the RNS 11/12/2023 “……subject to signature of definitive agreements…”
I would suggest that as the money was announced as being due in the first instance on 10/11 and is yet to be received, and further, that subsequent new due dates have come and gone, that any further dates are irrelevant as no such signatures are in place therefore the agreement is not binding as it has not been signed.
All the information any shareholder needs is in the RNS’s….. the fact there have been so many that simply lack clarity or definition let alone completion, speaks volumes. Mast’s behaviour isn’t usual….. they are literally kicking the sp down the road. Everyone is blaming Proventure but as per my earlier post on 07/12…
“ Proventure Group - only head office has a phone number. No email address on the website.
H.NO : 304B, Road No - 78, Prashasan Nagar, Jubilee Hills, Hyderabad - 500033
Telephone # 91 40 23553357. I called then on 16th Nov….. but you guys/gals would probably want to reassure yourselves so why don’t you call?
As to speak to Investor relations …except they don’t have an IR dept.
Ask to speak to someone who is dealing with the JV with Mast in the UK…….they have no idea what JV and no idea of Mast.
Ask to speak to the finance dept who would know if they are pumping out millions of £ and they have no idea either. And they didn’t say they couldn’t discuss it - they genuinely had no clue.
Proventure Holdings UK did not release an RNS to confirm the JV…..that is highly unusual - more unheard of……”
Mast has a lot to answer for here. The “he told me he would pay” defence holds no water here.
Cando66 - I feel for you…. You have been a staunch and loyal believer.
Obfuscation with the company names has played into this.
Hello again Fordm - hope you had a good Christmas! Seems like so long ago now …..
Bullets and sand filled rubber hoses aside, it would seem the markets & investors have not only fallen out of love with IAG but have divorced the company from any semblance of a realistic sp. It’s a bit like that wayward child that always promises to do better tomorrow……it’s hope that’ll do for us all in the end.
Anyhoooo….. sincerely wishing everyone all the very best and a very happy 2024. See you all on the other side, God willing.
TTFN
He could own a hundred such similarly named companies and it would make no difference….. JV is between Mast & Proventure Holdings Uk Ltd…..
Coming up to close of play for the year…… sincerely wishing you all a very happy 2024. Here’s hoping for better things for everyone.
TTFN
Yet another “ Proventure” titled company ……
the party to the JV is not Proventure Holdings India Private Limited though…..
Smoke & mirrors
Morning everyone - hope you all had a good Christmas. Seems a long time ago now!
GG, Rupert et al……
My average was 7.2 before the sp tanked. I too spent quite a while deliberating whether to park it, sell out or average down and for my circumstances, it made sense to average down as for another £1200, my average fell to 1.5. I am fully expecting to take a loss, but the maths work out better for me this way - damage limitation rather than avoidance, if you like. I do have some spare pennies that could lower my average even more but I will channel those funds into other opportunities that I feel confident about. Hopefully any gains will go towards offsetting any loss here, on my portfolio bottom line.
He1 was always a binary play and this has to either make or break. Personally, I can’t see the company being able to continue for much longer as things stand without a seismic change in either BOD, drilling results or interest from a third party. Probabilities, not possibilities I would think……
Anyhoooo…. Sincerely wishing everyone all the very best for 2024. See you all on the other side !
India is one of the world’s largest trading economies - tens- if not hundreds- of millions pass through every day in various currencies, in and out. They are fully integrated into the international banking system.
RNS stated signatures to the agreement were still required. No signatures, no money.
Proventure has a new website - still no mention of Mast or the UK but they do now show signed agreements with Cameroon & Cyprus.
The agreement is with Proventure Holdings UK Ltd which is NOT listed as a satellite office, affiliate or subsidiary of Proventure. As previously mentioned, there is a lot of obfuscation with the Proventure name and all it leads to is smoke & mirrors and shareholders deserve better.
Hello again Winstanley - how was your Christmas?
I’ve always felt Darktrace would be bought out/taken over….. be good if it was 2024 but maybe it still has to pay its dues, so to speak. Let’s see!
AI - wow….. did Santa not bring you any presents? Your post says far more about you than you may think.
Why do you feel it important to be hugely judgmental and to denigrate someone who made the right choices for him? Snob factor maybe? I know more grads who hated their Russel Group unis than I do other grads who went where they had a better all round experience. No one chooses poorly who gets an excellent degree AND has 4 years of great fun too. Economics & management from Lancaster is highly regarded….bit like Architecture from Nottingham is better regarded that From Oxbridge.
Couldn’t make it up……well, you did! What’s 80% got to do with anything …. Meanwhile, back in the here & now…. How is your short working out?
Any thoughts on ML’s recent purchase?
At the last AGM, the defacto Autonomy/ML Invoke inside man Patrick Jacob was voted off the board. Could the share purchase by ML be one of several to come to increase his holding so he once again has a presence beyond resident lurker?
Bebeto - “ 6p or 0.25p the chance of success remain the same with this upcoming drill.”
And that is something that is easily forgotten…….